Most Asian markets track US losses
US markets closed lower. S&P 500 lost 0.26% to 1,990 as the US Federal Reserve’s decision to leave interest rates unchanged raised questions about the strength of the global economy, reports Bloomberg. Tracking the losses, most Asian markets opened lower.
OVL interested in increasing stake in Russian oil firm
ONGC Videsh Ltd, a unit of ONGC Ltd, has evinced interest in acquiring another 10% in Russia’s second-largest oilfield (by production), owned by OAO Rosneft, reports Mint.
InBev-SABMiller merger to up competition for United Breweries
A merger between Anheuser-Busch InBev and SABMiller globally would create a beer giant in India that would give tough competition to present market leader United Breweries Ltd. SABMiller has confirmed InBev had approached it with a merger proposal, reports Business Standard.
Worker’s death sparks violence at RIL’s Jamnagar plant
Violence broke out at the refinery complex of Reliance Industries Ltd (RIL) in Jamnagar, Gujarat, after the death of a labourer, which the company said was due to cardiac arrest, reports The Indian Express.
Drop in realizations to hurt Hindalco
Hindalco Industries Ltd has not rule out the possibility of a fall in profit in the three months ended 30 September, reports Mint. The company is hurt by slump in aluminium prices and rising expenses.
GMR Energy secures gas for two power plants
GMR Energy Ltd, a unit of GMR Infrastructure Ltd, has secured gas for two power plants—GMR Vemagiri Power Generation Ltd and GMR Rajahmundry Energy Ltd in Andhra Pradesh—which have been allocated gas through a fresh round of e-bidding.
Power Grid gets shareholders nod to raise funds
Power Grid Corporation of India Ltd has received shareholders approval to raise up to ₹ 14,000 crore through issuance of bonds in 2016-17. Read more.