Opening bell: Asia opens higher; Fortis Healthcare, Nestle, Titan in focus
US stock end higher; Asian markets see a positive start
US stocks rose on Wednesday as energy shares jumped on the back of a strong rally in oil prices. The move higher follows President Donald Trump’s decision to pull the US out of the Iran nuclear deal.
Asian markets notched moderate gains in early Thursday trade, tracking Wall Street’s advance as oil prices traded higher after touching multi-year highs overnight.
Walmart buys controlling stake in Flipkart for $16 billion
Walmart Inc has agreed to pay $16 billion for a roughly 77% stake in Indian online shopping site Flipkart, the US retailer’s biggest foreign investment ever as it battles rival Amazon.com Inc in one of the world’s biggest emerging markets.
Binani Cement lenders may not meet on Thursday to consider UltraTech’s revised bid
The lenders of Binani Cement Ltd may not be meeting on Thursday at St. Regis Hotel in Mumbai to consider UltraTech Cement Ltd’s revised bid.
Board revamp: 4 Fortis directors raise concerns
Four directors of Fortis Healthcare Ltd facing potential removal at an upcoming shareholders’ meeting wrote to shareholders to let them stay on, since “a complete change of the entire board” will add “turbulence and ambiguity”
IMF expects India to grow at 7.4% in FY19 as economy recovers from demonetisation, GST impact
The Indian economy is expected to grow at 7.4% in the current fiscal and accelerate further to 7.8% as it recovers from the impact of demonetisation and goods and services tax (GST) roll out, the International Monetary Fund (IMF) said.
Maruti Suzuki launches Vitara Brezza automatic, price starts at Rs8.54 lakh
Maruti Suzuki India (MSI) launched its compact sports utility vehicle (SUV) Vitara Brezza with auto gear shift (AGS) technology priced between Rs8.54 lakh and Rs10.49 lakh (ex-showroom Delhi).
SC dismisses govt’s plea challenging payment of bank guarantee in Airtel-Telenor merger
The Supreme Court dismissed a government petition challenging a telecom tribunal order directing it to clear Bharti Airtel Ltd’s acquisition of Telenor India without insisting on a bank guarantee for almost Rs1,499 crore.
Goldman Sachs-backed Renew Power files for IPO
Goldman Sachs Group Inc.-backed renewable energy company Renew Power Ltd filed its draft initial public offering (IPO) documents with the regulators.
Apollo Tyres, Asian Paints Ltd, Indian Bank, Mphasis Ltd, Titan Ltd, Zee Ltd are among the companies that will be announcing March quarter earnings today.