Things to watch out in the markets today
US markets closed marginally lower; Equity markets in Japan are trading higher; Tata Steel earnings today
{{^adFree}}
Equity markets in Japan are trading higher. Stocks gained after data showed that Japanese economy grew better than forecast. Overnight US markets closed marginally lower after reaching record highs in previous trading session.
{{^adFree}}
FIIs trimming some positions
Foreign institutional investors (FII) remain overweight India in general, but there is some trimming of their positioning in India, UBS reportedly said in note.
{{^adFree}}
Consumer companies to do better
Ratings agency CRISIL estimates the revenue growth of the companies in the consumption-linked categories to widen in comparison to the firms in the investment-linked businesses in the current financial year, reports Business Standard.
Vishal Sikka sanguine about Infosys’s future
{{^adFree}}
Infosys Ltd’s chief executive officer Vishal Sikka is confident that the initiatives the company has taken under his watch should help it clock 13% growth in its traditional software services exports business in each of the coming five years as its sets out to become a $20 billion entity by 2020, reports Mint.
Reliance Communications tower sale said draws ATC interest
Reliance Communications Ltd’s sale of Indian wireless infrastructure assets has drawn interest from companies including American Tower Corp. (ATC), reports Bloomberg. The company is reportedly in talks to sell majority stake in tower unit Reliance Infratel Ltd.
{{^adFree}}
Meanwhile, the company is in talks to acquire Sistema Shyam Teleservices in an all-stock deal, reports The Economic Times.
Cement, PE firms line up for Lafarge assets
Six foreign and domestic cement companies, along with a private equity firm, have expressed interest in buying the assets that Lafarge SA is divesting in India before it closes its merger with Holcim Ltd, reports Mint.
{{^adFree}}
NMDC draws up plan to reach 100 mt output
NMDC Ltd has drawn a growth plan to attain production of 100 million ton (mt) per annum by 2022 from the present production level of 30 mt per annum, reports The Hindu Business Line.
Apollo Hospitals considering acquisitions in northern India
{{^adFree}}
Apollo Hospitals Enterprise Ltd. is considering acquisitions in northern India in a bid to counter rival Fortis Healthcare Ltd.’s foray in the country’s south, reports Bloomberg. According to the report, the company is looking to purchase a facility in Mumbai.
PVR in talks to buy DLF’s DT Cinemas
PVR Ltd is in negotiations to acquire multiplex chain DT Cinemas, a subsidiary of DLF Ltd, reports Mint. The size of the deal is estimated to be in the region of Rs.500 crore.
{{^adFree}}
{{/adFree}}
Gammon’s Russian partner defaults vendor payments
The Russian partner of the Gammon India Ltd in the Chennai metro rail project defaulted on a payment of about ₹ 29 crore to vendors, reports Business Standard. The vendors also allege that work on the stretch on which the Russian firm was engaged stopped for two weeks.
Tata Steel earnings today
{{^adFree}}
{{/adFree}}
Bajaj Finserve Ltd, Bajaj Finance Ltd, Bharat Forge Ltd, DLF Ltd, Tata Steel Ltd and Whirlpool of India Ltd are some of the companies that will release their earnings for the January-March quarter today.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.