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Asian markets trade mixed on Wednesday. Photo: Hindustan Times
Asian markets trade mixed on Wednesday. Photo: Hindustan Times

Opening bell: Asian markets trade mixed; RIL, Airtel, rail stocks in news

In other news, IndiGo owners InterGlobe Aviation to sell 2.91% stake, while Adlabs is in talks to raise Rs650 crore

Asian markets mixed in morning trade

Asian stocks opened subdued as crude oil futures steadied and investors awaited cues from major central banks. Overnight, the US stocks closed higher.

Retail inflation accelerates, industrial growth slows

Retail inflation unexpectedly accelerated to a 15-month high of 4.88% in November, while industrial production slowed to 2.2% in October. Read more

Reliance Industries said to plan IPO for Reliance Jio

Reliance Industries Ltd (RIL) is weighing an initial public offering (IPO) for its mobile operations unit Reliance Jio Infocomm Ltd, reports Bloomberg. According to the report, the company is holding internal discussions about preparing to list Reliance Jio.

Meanwhile, Reliance Jio has added 7.34 million subscribers in October to take its base to 145.96 million, reports Business Standard.

Railway ministry to scrap bids for 9,500 wagons

In a possible setback for Texmaco Rail & Engineering Ltd, Titagarh Wagons Ltd and other wagon manufacturers, the railway ministry may cancel bids called for procuring 9,500 wagons, reports The Economic Times.

Airtel to sell 20% stake in DTH arm to Warburg Pincus

Bharti Airtel Ltd and another group entity will sell a combined 20% in its DTH arm, Bharti Telemedia Ltd, to private equity firm Warburg Pincus for $350 million.

IndiGo owners InterGlobe Aviation to sell 2.91% stake

InterGlobe Aviation Ltd, the owner of IndiGo airline, said two of its founder group firms will in this week sell a combined 2.91% stake in the company, reports Reuters.

Adlabs in talks to raise Rs650 crore

Adlabs Entertainment is in talks to raise about Rs650 crore from financial investors as part of a two-pronged transaction that will comprise sale of fresh shares by the company and a partial exit by existing investor ICICI Ventures, reports The Economic Times.

Britannia eyes boost in rural contribution to overall revenue

Britannia Industries Ltd is deploying strategies for rural markets that straddle all its key focus areas for the future, in a bid to boost revenue contribution from those regions to at least 30-35% over the next 2-3 years, reports Mint.

Syndicate Bank launches Rs1,200 crore QIP

Syndicate Bank has launched its Rs1,200 crore qualified institutional placement (QIP). The bank has fixed a floor price of Rs88.57 per share. The stock closed at Rs84.4 on Tuesday.

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