Opening bell: Asian markets open higher; RCom, Fortis, Adani Ports in news
In other news, the Indian Railways will spend Rs9,000 crore over the next three years to procure new wagons as it seeks to beef up its goods transportation services
Asian stocks gain in morning trade
Asian markets opened higher. Stocks rose, tracking the overnight gains in the US stocks, as focus shifted to corporate earnings, reports Reuters.
Supreme Court stays NCLAT order on partial sale of RCom assets
The Supreme Court stayed a National Company Law Appellate Tribunal (NCLAT) order that had allowed for partial sale of assets of Reliance Communications Ltd (RCom) to Reliance Jio Infocomm until the tribunal decides on the case.
Fortis Healthcare raises Rs150 crore debt to stave off bankruptcy
Fortis Healthcare Ltd, which is weighing multiple takeover offers for its assets, has got a Rs150 crore bridge loan from RattanIndia Finance amid a credit squeeze.
Meanwhile the board of Fortis Healthcare would meet on Thursday to consider options after the company became the target of rival takeover bids, reports Reuters.
Adani Ports in pact to offer LNG regasification services
Adani Ports and Special Economic Zone has signed an agreement with Indian Oil Corporation to provide liquefied natural gas (LNG) regasification services at its upcoming terminal at Dhamra in Odisha, reports Business Standard.
Uttam Galva offers to repay all its debt to banks
Debt-laden Uttam Galva Steels Ltd offered to repay its creditors in full, after its previous offer to pay back 51% of its dues was rejected last week. The steelmaker also sought time to arrange the funds.
Railways to spend Rs9,000 crore in 3 years on new wagons
The Indian Railways will spend Rs9,000 crore over the next three years to procure new wagons as it seeks to beef up its goods transportation services, reports The Economic Times.
NITI Aayog backs cap on pharma trade margins
Lastly, trade margins charged by drug stockists and chemists must be capped, government think tank NITI Aayog recommended, reports Mint. Trade margin is what wholesalers and retailers earn by selling the medicines.
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