Opening bell: Asian markets trade higher; NTPC, Bhushan Steel, IndiGo in news
Asian stocks track US market gains
Asian markets opened higher, tracking the gains in the US stocks over the weekend. Stocks gained on strong hiring data in the US.
Cess on SUVs, high-end cars likely to rise
Sports utility vehicles (SUVs) and top-end luxury cars are expected to cost more with states and the Centre seeking to increase the cess on these vehicles, reports The Times of India. According to the report, the plan is to increase the cess from 15% to 25%.
First-time car buyers choosing Swift, Dzire over entry-level cars
First-time car buyers in India, who have always flocked to Maruti Suzuki India Ltd for its entry-level cars are now buying up costlier Swifts and Dzires, reports Mint.
Paint prices rise on high input costs
Paint prices have moved up 5-6% since March this year with top manufacturers such as Asian Paints Ltd, Berger Paints India Ltd and Kansai Nerolac Paints Ltd increasing product prices, reports The Hindu Business Line.
NTPC seeks licence to set up charging stations for electric vehicles
NTPC Ltd is exploring the possibility of securing a national licence for setting up charging stations for electric vehicles across states, reports Mint.
Global investors line up for stake in Bhushan Steel
Bhushan Steel Ltd, which has been referred to the National Company Law Tribunal (NCLT) for insolvency proceedings, has caught the eye of financial investors, reports Mint. Piramal Enterprises Ltd-Bain Capital Credit platform to invest in distressed assets, AION Capital, Oaktree Capital and Lone Star Funds are said to have shown interest.
Liberty House sends plan on ABG Shipyard to NCLT
UK-based Liberty House has proposed a new business model to the NCLT as part of its acquisition plan of ABG Shipyard Ltd, reports Business Standard. The plan includes a ship-breaking facility, along with the existing shipbuilding and repair space.
Aditya Birla Fashion in talks to sell American Eagle products
Aditya Birla Fashion & Retail Ltd is in talks with American Eagle Outfitters to open standalone outlets of the US fashion brand in India, reports The Economic Times.
IndiGo plans 170 flights a day on regional routes
InterGlobe Aviation Ltd run IndiGo is planning to bring smaller towns into its orbit, reports Business Standard. According to the report, the airline plans to connect 13 small towns in the hub-and-spoke model under its regional operations.
3,000MW wind power projects up for sale as incentives dry up
With tax benefits drying up, tariffs plunging to new lows after the introduction of competitive bidding, a number of wind power producers are putting up their assets for sale, reports Business Standard.
Britannia Industries, Tata Steel earnings today
Amara Raja Batteries Ltd, Britannia Industries Ltd, Natco Pharma Ltd, Tata Steel Ltd, Welspun India Ltd, and Whirlpool of India Ltd are some of the companies that will release their earnings for the June quarter on Monday.
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