Asian markets gain in morning trade
Asian markets gained in morning trade, helped by strong US jobs report. Over the weekend, US stocks closed with gains. S&P 500 at 2,786 points is up 1.7%.
JSW Steel to raise $1 billion to acquire distressed assets
JSW Steel Ltd is tapping overseas bond investors to raise $1 billion to fund its plan to buy distressed assets in India, reports Mint.
Jet Airways, Air France-KLM, Delta consortium to bid for Air India
A consortium of Jet Airways, Air France-KLM and Delta Air Lines is understood to have expressed interest in the disinvestment of national carrier Air India, reports PTI.
PFC’s power projects with 14,000 MW capacity to go down insolvency alley
Power Finance Corporation (PFC) could see around 11.4% of its loan book getting on the insolvency route, reports Business Standard. According to the report, 14,115 megawatt (MW) of capacity will go under insolvency proceedings.
NTPC to acquire Kanti, Nabinagar JV plants for Rs3,000 crore
NTPC is likely to finalise the acquisition of entire stake of Bihar State Power Holding Co. Ltd in its two joint venture (JV) plants at Nabinagar and Kanti for around Rs3,000 crore in a month, reports PTI.
Coal India board approves record dividend payout
The centre is estimated to get around Rs8,044 crore as dividend from Coal India as the miner’s board approved payment of interim dividend for the current fiscal at a rate of Rs16.50 per share.
Wilmar arm takes control of Renuka Sugars
Naredra Murkumbi, the promoter of Shree Renuka Sugars, has ceded control of the company to Wilmar International, reports The Hindu Business Line.