Opening bell: Asian markets open mixed, Bharti Infratel, Jet Airways in news
Asian markets mixed in morning trade
Bharti Airtel unit selling $400 million Bharti Infratel stake
A unit of Bharti Airtel Ltd plans to sell stake worth about Rs2,617 crore ($400 million) in Bharti Infratel Ltd on Tuesday. The price range is set at Rs400 to Rs415.5 per share, zero to 3.7% discount to Bharti Infratel’s Monday closing price.
Jet Airways in talks for 75 more Boeing 737 Max planes
Jet Airways (India) Ltd is in discussions about ordering 75 more Boeing 737 Max aircraft, reports Reuters. According to the report, the airline last month had agreed to buy 75 of the aircraft and that it could acquire another 75 to help it expand in a booming Indian market.
Vodafone, Idea to sell telecom tower assets to ATC for $1.2 billion
Vodafone India Ltd and Idea Cellular Ltd said that they have separately agreed to sell their standalone telecom tower businesses to ATC Telecom Infrastructure Pvt. Ltd for about $1.2 billion.
Banks invoke S4A to recast Patel Engineering’s debt
Lenders to Patel Engineering Ltd have invoked the Scheme for Sustainable Structuring of Stressed Assets (S4A) to recast its debt. According to the plan, Patel’s debt of Rs2,963.5 crore will be categorized into two parts—Rs1,724 crore of sustainable and Rs1,239.5 crore of unsustainable debt. Read more
Govt to launch Bharat 22 ETF today
The government will launch the ‘Bharat 22’ exchange-traded fund (ETF) managed by ICICI Prudential Mutual Fund, on Tuesday, targeting an initial amount of about Rs8,000 crore.
Railways to issue large tenders of up to 1,500km for electrification
In a major shift from the past, Indian Railways plans to bid out large tenders as high as 1,500km under the engineering, procurement and construction (EPC) model for railway electrification, to achieve its target of full electrification by 2021, reports Mint.
Arun Jaitley signals more GST rate cuts
Finance minister Arun Jaitley on Monday signalled more GST rate cuts and appealed to businesses to pass on the benefit of the recent reductions to consumers, reports Mint.
First tranche of bank recap bonds likely in December
The government may issue the first tranche of Rs1.35 trillion worth of bank recapitalisation bonds in the first week of December, reports Business Standard.
Eicher, Sun Pharma earnings today
Ceat Ltd, Bata India Ltd, Eicher Motors Ltd, Godrej Industries Ltd, GMR Infrastructure Ltd, Jaiprakash Associates Ltd, Reliance Capital Ltd, NBCC (India) Ltd and Sun Pharmaceutical Industries Ltd are some of the companies that will release their earnings for the September quarter on Tuesday.