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Business News/ Market / Stock-market-news/  Opening Bell | Govt smoothens exit for road builders; Bharti Airtel, M&M, Coal India in focus
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Opening Bell | Govt smoothens exit for road builders; Bharti Airtel, M&M, Coal India in focus

Global stocks gained after a rebound in the US markets helped calm investor nerves

A file photo of the BSE building in Mumbai. Photo: Mint Premium
A file photo of the BSE building in Mumbai. Photo: Mint

Asia tracks Wall Street gains

Asia markets opened higher. Stocks gained after a rebound in the US markets helped calm investor nerves. US markets gained on bargain hunting and speculation that the US Federal Reserve may delay interest rate hike. S&P 500 is up 3.9% to 1,940.

Govt approves bailout package for road builders

The government has approved a conditional bailout package to help road developers exit highway projects two years after the completion of such projects and use the proceeds to retire corporate debt or for investment in other road projects, reports Mint.

Airtel acquires Augere Wireless in 4G push

Bharti Airtel Ltd has bought a company that owns 4G spectrum in Madhya Pradesh and Chhattisgarh. The acquisition gives Bharti Airtel the right to use 2,300MHz spectrum in nine circles, crucial at a time when telecom service providers are preparing for the launch of high-speed data services from Reliance Jio Infocomm Ltd. Read more.

M&M to invest 700 crore in its truck, bus business

Mahindra Truck and Bus Division, part of Mahindra and Mahindra Ltd (M&M), is investing 700 crore to expand its footprint in the light and intermediate commercial vehicle segment, reports Business Standard.

Ultratech close to Jaiprakash cement plant deal

Ultratech Cement Ltd is nearing an agreement to acquire Jaiprakash Associates Ltd’s cement grinding plant in central India, reports Bloomberg. The acquisition would mark Ultratech’s fourth purchase of a cement plant from Jaiprakash group, the report says.

Coal India hopes to save big on procurements

Coal India Ltd hopes to save as much as 1,000 crore by implementing a new tendering process for its procurements, reports The Economic Times. The procurement process is shifting to reverse auction method on an electronic platform, the report says.

Vedanta may shut Lanjigarh refinery

Vedanta Ltd may close its 1 million metric tonne alumina refinery in eastern India as slumping metal prices and surging Chinese imports shrink profit margins, making production unviable, reports Bloomberg.

Tata Steel Europe to mothball coil processing facilities

Tata Steel Europe, a unit of Tata Steel Ltd, will mothball its coil processing facilities in South Wales. The company will retain these facilities so they can be restarted in more favourable market conditions. Read more.

L&T Infotech plans to file draft IPO papers

L&T Infotech Ltd, a unit of Larsen and Toubro Ltd, is looking to file its draft initial public offering (IPO) papers with the capital market regulator early next month, reports Mint.

IL&FS acquires Sagar Cement pledged shares

IL&FS Financial Services Ltd has acquired 17.25% stake in Sagar Cements Ltd, following the acquisition of 30 lakh pledged shares of the cement company, reports PTI.

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Published: 27 Aug 2015, 07:51 AM IST
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