Asian stocks fall in morning trade

Asian markets slumped in morning trade tracking the losses in the US stocks over the weekend and concerns about resurgent inflation. S&P 500 at 2,762 points is down 2.12%.

RIL emerges sole contender to acquire stake in JBF Industries

Reliance Industries Ltd (RIL) has emerged as the sole contender to acquire a part of polyester maker JBF Industries Ltd’s operations, reports Mint.

Mahindra wins an order to supply 1,000 e-Veritos

Mahindra and Mahindra Ltd has won an order to supply 1,000 electric vehicles (EVs) to Bengaluru-based fleet operator Baghirathi Travel Solutions Pvt. Ltd through its subsidiary Mahindra Electric Mobility Ltd, reports Mint.

Aditya Birla Fashion scales down Forever21, cuts costs

Aditya Birla Fashion and Retail Ltd, the licensee of American fast fashion brand Forever21, is downsizing the brand’s stores and cutting costs as sales from the fast fashion business decline. Read more

Three firms in race to acquire Orchid Pharma

Strides Shasun, Nectar Lifesciences and Backstone have emerged as frontrunners for bankrupt Orchid Pharma, reports The Economic Times.

JSW Steel, Tata Steel serious bidders for Bhushan Steel

JSW Steel and Tata Steel have emerged as the two serious bidders for Bhushan Steel as binding bids closed on Saturday, reports Business Standard. According to the report, the bids are expected be opened on Tuesday afternoon.

Liberty House in talks with banks over revised Amtek Auto bid

UK-based Liberty House Group is in talks with the lenders of Amtek Auto Ltd to submit a revised bid for the troubled auto component maker after its previous bid was rejected by a panel of lenders supervising Amtek’s bankruptcy proceedings, reports Mint.

Warren Tea, Dhunseri vie for Assam Co

Assam Co. India Ltd has found several suitors. MK Shah Exports Ltd, Warren Tea Ltd and the Dhunseri Group are vying for the company, reports Mint. Even Srei Infrastructure Finance Ltd, one of Assam Co.’s creditors, is likely to bid for the assets, the report adds.

Colgate Palmolive, Tata Motors earnings today

Colgate Palmolive (India) Ltd, Bosch Ltd and Tata Motors Ltd are some of the companies that will release their earnings for the December quarter on Monday.

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