Opening Bell 3 July | Markets upbeat ahead of buoyant US payroll data

Mumbai: Asian markets are trading mixed. According to Bloomberg, investors are waiting for the US government jobs report to be released later in the day. US markets closed little changed. S&P 500 at 1,974 is marginally up 0.07%. Read more.

Back home, after declining for 33 consecutive months, sales of medium and heavy-duty trucks picked up in June, reports Mint. With the exception of Tata Motors Ltd, sales at most firms, including Ashok Leyland Ltd and Eicher Motors Ltd saw a spike.

Jaiprakash Associates Ltd launched a share sale to institutional investors to raise upto $250 million, reports Reuters. The company is selling shares in the indicative price band of ₹ 70.27-74 apiece. The stock closed at ₹ 75.5 on Wednesday.

Diageo Plc bought 26% of United Spirits Ltd shares from public shareholders, raising its stake in India’s largest liquor company to 54.78%. This was Diageo’s second open offer for United Spirits. Read more.

Reliance Capital Ltd is in talks with Japan’s Sumitomo Mitsui Banking Corp. for various initiatives in banking for over a year, reports Mint. The company says it’s constantly exploring various strategic partnerships.

Reliance MediaWorks Ltd (RMW) will merge its global film and media services business with Prime Focus Ltd. RMW and the promoters of Prime Focus will infuse ₹ 120 crore each ( ₹ 52 a share) through a preferential allotment of shares into the merged business. Prime Focus stock closed at ₹ 54.6 on Wednesday. Read more.

Reliance Communications Ltd may also see some action. The company initiated the process to monetise its real estate assets, reports Business Standard. It plans to use the proceeds to repay some debt, the report says.

Lanco Infratech Ltd may see some action. JSW Energy Ltd is set to acquire the company’s 1,200 megawatt Udupi Power in Karnataka for about ₹ 5,700 crore, reports The Economic Times.

The promoters of GMR Infrastructure Ltd are planning to increase their stake in the company. The board of the company approved a proposal to issue warrants to promoters. Read more.

Apollo Hospitals Enterprise Ltd announced a leadership reshuffle, reports Mint. The company also appointed consultants to work on restructuring and succession plan.

The board of Apollo Tyres Ltd approved a proposal to invest $340 million (around ₹ 2,025 crore) to upgrade its manufacturing facilities at Chennai and Kalamassery (Kerala), reports PTI. The company’s board also gave its nod to seek shareholders’ approval to raise $200 million (around ₹ 1,191 crore).

Geometric Ltd is confident of meeting Nasscom’s industry growth target of 13-15% in the current fiscal, reports Business Standard. According to the report, the company has been undergoing structural changes.

Lastly, Visa Steel Ltd has decided to merge Visa Bao Ltd with itself, reports Mint. Visa Bao is a ferrochrome producing joint venture with China’s Shanghai Baosteel Group Corp. Baosteel will get a small stake in Visa Steel after the merger.