Opening bell: Asian markets open higher; Cipla, BHEL, Jyothy Labs Q2 results today
In other news, Everstone agrees to buy Kenstar from Videocon associate firm, while Tata Chemicals approves sale of Haldia plant to Indorama Holdings unit
Asian markets open with gains
Asian markets gained in morning trade. Stocks rose tracking the gains in the US markets. Overnight, US stocks closed at record highs. S&P 500 at 2,591 points is up 0.13%.
Everstone agrees to buy Kenstar from Videocon associate firm
Private equity firm Everstone Group has agreed to acquire Kenstar, a brand of air coolers, air conditioners and other home appliances, from Century Appliances Ltd, an associate of the Videocon Group, reports Mint.
Tata Chemicals to sell Haldia plant to Indorama Holdings unit
The board of Tata Chemicals Ltd has approved the sale of its non-bulk phosphatic business to IRC Agrochemicals for Rs375 crore. The transaction will involve sale of the fertilizer business, the assets attached to it as well as the company’s Haldia plant.
RCom to sell DTH unit Reliance BIG TV to Veecon Media
Debt-laden Reliance Communications (RCom) said it will sell its direct-to-home (DTH) subsidiary, Reliance BIG TV, to Veecon Media and Television, reports PTI.
In another report, RCom on Monday skipped interest payment to its bond holders.
REC may fund Indian Railways’ drive to electrify entire network
The Indian Railways may rope in Rural Electrification Corp. Ltd (REC) to fund its ambitious plan to electrify the entire network by 2021-22, reports The Economic Times. The corporation is likely to lend the railways the entire project cost, spanning over four-five years, the report adds.
Cipla, BHEL earnings today
Cipla Ltd, BHEL Ltd, GlaxoSmithKline Consumer Healthcare Ltd, Future Retail Ltd, Jyothy Laboratories Ltd, Thermax Ltd and VIP Industries Ltd are some of the companies that will release their earnings for the September quarter on Tuesday.
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