Opening bell: Asian markets open positive; Fortis Healthcare, Cairn India in news
US equities end higher; Asian markets open positive
US stocks closed higher on Monday as technology stocks tried to recover from a wobbly performance last week.
Asian indices trekked higher in early Tuesday trade as the dollar strengthened following comments from US Federal Reserve officials over future interest rate hikes stateside.
IHH Healthcare set to seal deal for Fortis, SRL stake
IHH Healthcare Bhd, Asia’s largest private hospital operator, is set to buy a controlling stake in Fortis Healthcare Ltd and SRL Diagnostics from billionaire brothers Malvinder and Shivinder Mohan Singh in a deal that values the two companies at close to $2.9 billion, reports Mint.
Cairn tax dispute: Income tax dept orders recovery of Rs10,000 crore
The income tax department has ordered coercive action against Cairn Energy of UK, including taking away over Rs2,000 crore dividend and tax refund, to recover part of the Rs10,247 crore retrospective tax.
CDSL IPO fully subscribed on Day 1
The initial public offering (IPO) of Central Depository Services (India) Ltd (CDSL) was subscribed 1.01 times on the first day of the issue on Monday.
Boeing takes aim at Airbus single-aisle edge with stretched 737
Boeing Co. will offer its first new jet in almost four years, with the stretched Max 10 upgrade of the 50-year-old 737 countering Airbus SE’s headstart at the largest end of the single-aisle aircraft market.
Tata, Lockheed Martin partner up to make F-16s in India
Tata Advanced Systems Ltd and US planemaker Lockheed Martin Corp. have signed an agreement to produce F-16 fighter planes in India ahead of the government’s plan to buy more fighter jets.
Larsen and Toubro arm bags job orders worth Rs2,231 crore
Engineering conglomerate Larsen and Toubro’s (L&T) arm has won contracts worth Rs2,231 crore across various business segments.
LIC bought 38.67% SBI shares in Rs15,000 crore QIP issue
State-owned Life Insurance Corp. (LIC) has bought shares worth over Rs5,800 crore in State Bank of India’s (SBI) Rs15,000 crore qualified institutional placement (QIP).