Opening bell: Asian markets open lower; Jyothy Labs, telecom companies in news
Henkel calls off talks to buy 26% stake in Jyothy Labs, while JSW, Piramal-Bain are likely to jointly bid for Bhushan Power
Asian stocks decline in opening trade
Henkel calls off talks to buy 26% stake in Jyothy Labs
German consumer goods firm Henkel AG has called off talks to acquire a 26% stake in Indian soaps and detergent maker Jyothy Laboratories Ltd, reports Mint.
Qatari investor to sell 5% stake in Bharti Airtel for Rs9,500 crore
A Qatari investor, Three Pillars Pte Ltd, an affiliate of the Qatar Foundation, plans to sell 5% stake in Bharti Airtel Ltd on Friday for about Rs9,500 crore ($1.46 billion). The price range is at a discount of 4.7-8% to Bharti Airtel’s Tuesday closing price. Read more.
Telcos, PE firms show interest in RCom assets
Telecom companies and private equity (PE) funds have shown preliminary interest in buying the various assets Reliance Communications (RCom) is monetizing, reports Business Standard. According to Economic Times, RCom is renegotiating its deal with Brookfield along with other potential buyers for a stake in its tower unit.
JSW, Piramal-Bain may jointly bid for Bhushan Power
JSW Steel is likely to partner Piramal-Bain fund in an effort to make a joint bid for the unlisted Bhushan Power and Steel, currently undergoing insolvency, reports Business Standard.
Ashok Leyland, Voltas earnings today
It will be a results heavy day. Arvind Ltd, Ashok Leyland Ltd, CESC Ltd, Bharat Forge Ltd, Indian Energy Exchange Ltd, IRB Infrastructure Developers Ltd, Petronet LNG Ltd, Thermax Ltd and Voltas Ltd are some of the companies that will release their earnings for the September quarter on Wednesday.
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