Opening bell: Asian markets open flat; HUL, Sunteck Realty in news
Asian markets see little change in opening trade
Asian markets were mostly lower in early Friday trade, following a relatively quiet overnight trading session as US markets were closed for Thanksgiving. Investors are likely to keep an eye on Chinese markets after equities took a tumble in the last session.
GST-compliant MSMEs likely to get more sops
The finance ministry is considering introducing more incentives for micro, small and medium enterprises (MSMEs) that comply with the requirements of the new goods and services tax (GST) regime, including access to loans at discounted rates, in an attempt to reward early adopters and encourage others to comply.
HUL will lower prices by 7-10%, in line with GST rate cut: CEO Sanjeev Mehta
Hindustan Unilever Ltd (HUL), India’s largest consumer packaged goods company, will reduce prices by 7-10% on an average across categories following the reduction in GST from 28% to 18% for categories like detergents, cosmetics, deodorants and packaged foods.
Sunteck Realty to invest Rs1,500 crore in commercial leasing portfolio
To cater to the rising demand for commercial real estate, realty firm Sunteck Realty Ltd, having so far focused on building luxury homes, is chalking out plans to ramp up its commercial property business.
Star Health Insurance stake sale draws interest from PremjiInvest, Temasek, 10 others
Star Health and Allied Insurance Co. Ltd has received as many as 12 bids from interested parties, including financial as well as strategic investors, to acquire the business from private equity investors. Read more
Insolvency code amendments get President’s assent, wilful defaulters barred from bidding
Wilful defaulters and entities whose accounts have been classified as non-performing assets (NPAs) will be barred from bidding for assets under the insolvency law, as President Ram Nath Kovind gave his assent to an ordinance to amend the Insolvency and Bankruptcy Code.
Everstone acquires Malaysia-based Chemopharm
Private equity firm Everstone Group, through its platform Everlife, has acquired Malaysia’s Chemopharm Sdn Bhd, a provider of products and services to laboratory, research and medical facilities in South-East Asia, the firm said in a statement. Read more
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