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Business News/ Market / Stock-market-news/  Opening Bell | Tata Steel, DLF, RIL in news

Opening Bell | Tata Steel, DLF, RIL in news

Asian markets were trading mixed after data showed Japan's core machinery orders fell 9.2% in February from the previous month

A file photo of the BSE building in Mumbai. Photo: Mint Premium
A file photo of the BSE building in Mumbai. Photo: Mint

Asian markets trade mixed

Asian markets were trading mixed on Monday morning after data showed Japan’s core machinery orders fell 9.2% in February from the previous month. Japan’s Nikkei Stock Average was down 2% and Hong Kong’s Hang Seng was trading flat. China’s Shanghai Composite was up 2% after higher food prices fuelled a rise in inflation in March, while the pace of deflation in producer prices moderated from the previous month, read more.

US markets end in green following crude rally

Wall Street indices closed higher on Friday as energy stocks jumped on the back of gains in crude oil prices. Brent crude rallied 6.4% to $41.94 per barrel. The Dow Jones Industrial Average gained 0.2%, S&P 500 was up 0.3% and Nasdaq Composite advanced 0.1%.

DLF starts stake sale of rental assets

In India, DLF Ltd shares will be in focus as it has sought expressions of interest from multiple top global investors to sell a 40% stake in its rental asset arm, DLF CyberCity, as it seeks to pare debt. The rental assets arm holds about 20 million sq.ft of leased-out office space and is valued at about $2 billion, reports Mint.

Govt forms panel to approve bad loan settlement plans of PSBs

Shares of public sector banks (PSBs) will be in focus as the government is considering forming a three-member committee to approve the bad loan settlement plans of such banks. The move comes after the government’s bid to give state-run banks a fresh start didn’t elicit an enthusiastic response. Bankers are not keen on a one-time loan settlement that involves taking a haircut, fearing investigating agencies will come after them, reports Economic Times.

RIL, BP ready to bury the hatchet with govt over gas prices?

RIL and its partner BP Plc. have initiated discussions with the government to drop the arbitration over natural gas prices. RIL-BP have also signalled their intention to invest $10 billion over the next few years and expect to be allowed to sell gas which is recovered at free market prices under the new gas-pricing rules, read more.

Tata Steel starts the sale of its UK steel business

Tata Steel Ltd shares will be in focus as the group will start selling its loss-making UK steel business. Finding a new buyer may not be easy for Tata Steel as the UK assets have structural issues such as high labour, energy and regulatory costs. Liberty House’s Sanjeev Gupta has shown interest in Tata Steel assets, but not debt, read more.

Telenor may exit India telecom business

Lastly, Telenor may be looking to exit its India telecom business but hasn’t been able to find a buyer yet. The Norwegian telco has been pushed into a corner, with no 3G or 4G services, having limited data spectrum and confined to a few pockets. Telenor is looking for a valuation between $1.6 billion and $1.8 billion for its business, reports Economic Times.

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Published: 11 Apr 2016, 08:19 AM IST
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