Home / Market / Stock-market-news /  Opening Bell | Tata Steel, Blackstone, ITC Group in focus

Asian markets rally

Asian markets were trading higher on Wednesday morning as a revival in risk appetite knocked back the yen and China’s exports rose 18.7% in March compared to a year ago, boosting growth outlook. Japan’s Nikkei Stock Average was up 2.4%, Hong Kong’s Hang Seng was trading higher by 1.7%, and China’s Shanghai Composite advanced 1.6%.

Revival in risk appetitive buoys US markets

Overnight, Wall Street indices closed higher on the back of positive sentiment in commodity markets and gains in US oil prices. The Dow Jones Industrial Average rallied 0.9%, S&P 500 closed higher by 1% and Nasdaq Composite advanced 0.8%, read more.

Achhe din for Indian economy?

The India Meteorological Department forecast above-normal rains during the critical south-west monsoon, even as new data revealed a pick-up in industrial growth to 2% and a dip in retail inflation to a six-month low of 4.83%. The IMD forecast signals a potential alleviation in rural distress and a revival of rural demand that had been crimped by two successive years of drought. Also, a rate cut and liquidity boosting measures by the Reserve Bank of India suggest a more conducive environment for industrial recovery, read more.

IMF: India to grow at 7.5% in 2016-17

India continues to remain a bright spot in the otherwise bleak global economic forecast of the International Monetary Fund (IMF). India is estimated to grow 7.5%, ahead of China and higher than the estimated global growth of 3.2-3.5% in 2016-17, as per the World Economic outlook released by the IMF, read more.

Tata Steel plans to sell UK assets won’t bring down debt

Tata Steel Ltd shares will be under pressure as the plan to sell its loss-making UK assets will do little to reduce the company’s substantial debt. The recent Greybull Capital deal for its Long Products Europe business does not include the transfer of debt which is estimated to be in the range of 12,000 crore and 15,000 crore. Other potential buyers also say they won’t take on liabilities  of the units, read more.

Blackstone Group, JSW Cement bid for Lafarge India assets

Blackstone Group and JSW Cement have submitted bids for LafargeHolcim Ltd’s 11 million tonne cement assets in India. Other cement companies that have submitted non-binding bids include Ramco Cements Ltd and Ireland’s CRH Plc., as the world’s largest cement company is selling its interest in Lafarge’s assets to comply with competition rules in India, read more.

Prices of 4G smartphones to drop to 3,000 by year end

Prices of 4G smartphones are likely to drop to as low as 3,000 by the year end, accompanied by speedy 4G roll-outs by market leader Bharti Airtel, Vodafone India and Idea Cellular in anticipation of a commercial launch of similar services by Reliance Jio. The rapid reduction in prices indicates that competition is heating up in the 4G space, reports Economic Times.

ITC focusing on online channel for lifestyle business growth

ITC Ltd shares will be in limelight as the diversified group is embracing the online marketplace route to push its lifestyle retail business, especially its apparel brand John Players, which it plans to expand into newer categories, reports Economic Times.

Panama Papers: Initial inquiries don’t indicate large-scale wrongdoing

Lastly, preliminary inquiries into accounts of about 500 Indians featuring in the Panama Papers don’t appear to indicate large-scale wrongdoing, with most in accordance with Reserve Bank of India’s liberalised remittance scheme, reports Economic Times.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout