Asian markets drop in morning trade
Asian markets opened lower tracking losses in US stocks. According to Reuters, stocks slipped after minutes from the US Federal Reserve’s last policy-setting meeting flagged the risk of faster hikes in US interest rates.
Bhushan Power lenders ask Tatas to revisit conditions
The consortium of lenders to Bhushan Power & Steel has asked Tata Steel to waive certain conditions in its offer for the company, reports The Economic Times.
Tata may sell auto components unit Tata AutoComp Systems
Tata group is planning to sell its automotive parts manufacturing company Tata AutoComp Systems Ltd, reports Mint. The group is currently in talks to hire an investment bank to manage the sale, the report adds.
United Spirits set to auction Mallya’s Mumbai house
United Spirits Ltd is set to invite bids for its sea-facing mansion called Niladri on Napean Sea road in South Mumbai, reports Mint. Former chairman Vijay Mallya has often used the property, priced at around Rs300 crore, as his Mumbai residence.
Mahindra-owned SsangYong slips back into losses in 2017
Mahindra and Mahindra Ltd-owned SsangYong Motor Co. slipped back into losses in 2017, as the Korean won strengthened and exports fell. Read more
Idea Cellular fixes Rs82.50 per share to raise Rs3,500 crore
Idea Cellular Ltd said its capital raising committee has approved an issue price of Rs82.50 per share for sale of shares through a qualified institutional placement to raise as much as Rs3,500 crore, reports PTI.
Investigators seek to freeze Mehul Choksi’s Gitanjali shares
Investigation agencies asked national depositories to freeze the promoters’ holdings in Gitanjali Gems, to ensure the alleged perpetrators of the fraud at the Punjab National Bank do not get away without paying back, reports Business Standard.