Opening bell | Asian markets open lower; ICICI Bank, Piramal Enterprises in news
In other news, JSW Steel to acquire JSW Praxair Oxygen for ₹240 crore
US Fed official’s comments unsettle global equities
US markets closed lower. S&P 500 lost 0.55% to 2,178 points after US Federal Reserve officials stoked speculation over interest-rate increases, reports Bloomberg. Tracking the cues, Asian markets opened lower.
ED to register fresh case against Vijay Mallya
The Enforcement Directorate (ED) will register a fresh case against Vijay Mallya and Kingfisher Airlines Ltd to investigate whether they laundered money taken as loans, reports Mint.
Temasek buys shares in ICICI Bank
Temasek Holdings Pte bought 2.55 million American depositary receipts of ICICI Bank Ltd at the end of June, reports Bloomberg.
Piramal Enterprises buys contract drug maker
Piramal Enterprises Ltd has bought Ash Stevens Inc., a US-based contract developer and manufacturer of drugs, in an all-cash deal for $43 million (Rs.286 crore).
SBI may revise credit offtake projection later this year
State Bank of India Ltd (SBI) is likely to revise the credit offtake projection from the current level of 12% later this year, reports The Indian Express.
Whirlpool aims to double sales by 2020
Home appliances major Whirlpool of India Ltd aims to double its sales in India by 2020, reports Business Standard. According to the report, the company is diversifying its portfolio to increase sales in India.
JSW Steel to acquire JSW Praxair Oxygen
JSW Steel Ltd said it will acquire 74% stake in JSW Praxair Oxygen Pvt. Ltd for ₹ 240 crore in cash. Praxair produces industrial gases such as oxygen, nitrogen and argon. JSW Steel already holds 26% of Praxair.
Radico Khaitan Ltd, Philips Carbon Black earnings today
Radico Khaitan Ltd, Philips Carbon Black Ltd and Strides Shasun Ltd are some of the companies that will release their earnings for the June quarter today.
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