Opening bell: Asian markets open steady; NMDC, Max India, Coal India in news
In other news, Jaguar Land Rover reports record 2017 sales, warns on UK outlook
Asian markets steady in morning trade
Asian stocks outside Japan edged higher in the morning. US stocks closed mixed as investors turned cautious ahead of earnings, reports Reuters. S&P 500 at 2,746 points is up 0.12%.
Govt to divest 1.5% in NMDC today at Rs153.5 per share
The government will begin the sale of 1.5% stake in NMDC at a floor price of Rs153.50 apiece, reports PTI. The floor price of Rs153.50 is at a discount of 5% over the closing price of Rs161.85.
Life Healthcare said to weigh sale of Max Healthcare stake
Life Healthcare Group Holdings Ltd is considering a sale of its stake in India’s Max Healthcare Ltd, reports Bloomberg. According to the report, Life Healthcare and Mumbai-listed Max India Ltd each own 49.7% of Max Healthcare.
Coal India raises thermal coal prices
Coal India Ltd raised the prices of thermal coal, reports The Economic Times. According to the report, Coal India is estimated to fetch an extra revenue that would more than cover additional outgo on account of a workmen salary hike.
Jaguar Land Rover reports record 2017 sales, warns on UK outlook
Jaguar Land Rover, a unit of Tata Motors Ltd said its sales rose 7% to a record 621,109 vehicles in 2017 but warned it faces tough conditions in the UK due to weakening consumer confidence and a planned diesel tax hike on new cars, reports Reuters.
JSW Infrastructure-Srei to buy Sterling Port in Dahej
A consortium of JSW Infrastructure and Srei Infrastructure Finance Ltd is set to acquire the upcoming Sterling Port in Dahej from its lenders, reports Mint.
Vadanta leads race for Electrosteel Steels
Vedanta submitted the highest bid for bankrupt Electrosteel Steels, ahead of a Tata Group bid, reports The Economic Times.
GVK signs concession agreement for Navi Mumbai airport
GVK Power and Infrastructure has signed a concession agreement with Cidco to create a special purpose vehicle for developing the Navi Mumbai international airport. GVK through its subsidiary holds 74% equity shares of the venture, reports PTI.
Finance ministry may tweak tax norms for listed stocks
The finance ministry is considering extending the holding period for short-term capital gains tax on listed securities from one year to three years, bringing equities on a par with some other asset classes in tax treatment, reports Business Standard.
Rural indicators point to worsening farm distress
New data released by the government on rural wages, crop prices and sowing of winter crops reveals that rural distress is worsening, reports Mint.