Opening Bell | Global equities extend gains; Vijay Mallya, Mphasis, M&M in news1 min read . Updated: 08 Mar 2016, 08:01 AM IST
DRT freezes Vijay Mallya's deal with Diageo; Strides to acquire three OTC brands
Global equities edge higher
Govt aims to pass Aadhaar Bill in 10 days
With key reforms such as the goods and services tax and the bankruptcy code likely to be taken up only in the second half of the budget session, the government is looking to push for the passage of the Aadhaar bill in the first half itself. Read more.
Govt looks to create big PSU banks
The government is expected to launch its public sector bank consolidation exercise by merging yet another State Bank associate with its parent State Bank of India Ltd, reports The Times of India. According to the report, the government is looking to create 8-10 large state-run lenders through a merger of nationalized banks.
DRT freezes Mallya’s deal with Diageo
The debt recovery tribunal (DRT) in Bengaluru has blocked UB Group chairman Vijay Mallya from getting his hands on a $75 million payout by Diageo Plc., responding to an application by creditors led by State Bank of India Ltd, reports Mint.
Blackstone plans to back management buyout of Mphasis
Private equity firm Blackstone Group LP plans to back Mphasis Ltd chief executive Ganesh Ayyar for a management buyout of the information technology services company, reports Mint.
Mahindra rethinking Ssangyong plan
Mahindra and Mahindra Ltd (M&M) is re-thinking the strategy for its loss-making Korean auto maker Ssangyong Motor Co, pressing the brakes on its planned push into the US, to focus instead on China, reports Reuters.
Strides to acquire three OTC brands
Drug maker Strides Shasun Ltd has entered into an agreement with Sweden-based Moberg Pharma AB and its affiliates to acquire three over-the-counter (OTC) brands for $10 million (Rs.67 crore) plus inventory value. The transaction is expected to be closed within four weeks.