Asian stocks drop in morning trade

Asian markets slipped in the morning trade, weighed down by the technology stocks. Overnight US stocks closed lower. S&P 500 at 2,693 is down 0.57%.

TCS logs stellar Q4 results

India’s largest information technology services firm, Tata Consultancy Services Ltd (TCS), posted a stellar Q4 results that beat analyst estimates both on revenue and profitability. Read more

Tata Steel-Thyssenkrupp merger delayed by six months

Thyssenkrupp AG will take till the end of the year to set up its joint venture with Tata Steel UK Ltd, about six months later than it had earlier indicated, as negotiations are taking longer than estimated.

CCI slaps 215 cr fine on Eveready, Indo National

Fair trade regulator Competition Commission of India (CCI) imposed a total fine of Rs215 crore on Eveready, Indo National, industry grouping AIDCM and their officials for cartelisation in pricing of zinc-carbon dry cell batteries, reports PTI.

P&G to acquire Merck India business for Rs1,300 crore

Procter & Gamble Co. will buy a majority stake in Merck Ltd for Rs1,289.88 crore, as part of a global transaction to acquire Merck KGaA’s international consumer health business for $4.2 billion.

Reliance Power posts 16% rise in Q4 profit

Reliance Power reported a 16% rise in its January-March quarter net profit on higher electricity generation, reports PTI.

Parag Milk buys Danone dairy factory in Haryana

Parag Milk Foods Ltd said it has acquired the dairy factory of Danone Foods and Beverages India Pvt. Ltd, the local entity of French dairy firm Danone SA. This acquisition will help expand the company’s footprint in north India.

NTPC to back-down thermal power at accommodate renewables

NTPC Ltd back-down thermal power at some of its units to blend with renewable energy and sell it together, reports Business Standard.

UltraTech open to paying more for Binani Cement

Lastly, UltraTech Cement Ltd’s legal counsel raised the company’s bid for Binani Cement Ltd by Rs500 crore, while reaffirming the AV Birla Group company’s bid in the event of liquidation of the beleaguered cement maker, reports Mint.

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