Opening Bell | JSW Energy, JP Power, Adani Power in focus
China's foreign exchange reserves posted their biggest monthly fall as the country tried to calm the markets
Asian markets open higher
Asian markets opened higher ahead of the trade data from China, which will give more cues on how the economy is doing. Meanwhile, China’s foreign exchange reserves posted their biggest monthly fall as the country tried to calm the markets, reports Reuters.
Rupee hits two-year low against US dollar
The rupee hit a fresh two-year low against the US dollar as foreign investors continued to liquidate their investment in the equity markets and Asian currencies weakened.
JSW Energy in talks to acquire JP Power’s Bina plant
JSW Energy Ltd is in talks to acquire Bina Thermal Power from Jaiprakash Power Ventures Ltd for ₹ 3,500 crore, reports The Economic Times. The thermal power plant has an installed capacity of 500 megawatt, the report says.
Adani’s deal with Avantha for Korba may fall through
The ₹ 4,200 crore sale of Avantha Power and Infrastructure Ltd’s Korba West Power Co. Ltd unit to Adani Power Ltd may come unstuck, reports Mint. Avantha Power and Infrastructure is promoted by Avantha Holdings Ltd, Crompton Greaves Ltd and Ballarpur Industries Ltd.
DB Realty in talks to sell plot to Piramal Realty
Piramal Realty is in talks to acquire DB Realty’s Marine Drive project in Mumbai for close to ₹ 1,000 crore, reports Business Standard. According to the report, DB Realty had planned a 5-star hotel on the plot that failed to go through.
Cairn India steps up offshore activity
Cairn India Ltd is stepping up activity across its four offshore oil and gas assets to take advantage of low exploration costs, a consequence of falling crude prices, reports Mint.
Australian partner plans to exit Texmaco JV
Australian engineering company UGL Ltd has expressed its intention to exit the joint venture with Texmaco Rail & Engineering Ltd, reports The Hindu Business Line. This joint facility was set up to build bogies for Australia and other markets.
Britannia to invest ₹ 125 crore in a facility in AP
Britannia Industries Ltd will invest ₹ 125 crore on the first phase of an agro-processing facility it plans to set up in Chittoor district of southern Andhra Pradesh. Read more.
Amtek group firm JMT Auto downgraded by Crisil
JMT Auto Ltd, an Amtek group company, has been downgraded by rating agency Crisil on concerns of deteriorating financials and limited ability of the parent firm to support the company, reports Mint.
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