Opening bell: Asian markets open lower; L&T, Godrej Agrovet, UltraTech in news
Asian markets fall in morning trade
L&T set to win EPC contract for new dry dock
Larsen & Toubro Ltd has emerged the lowest bidder in a tender issued by Cochin Shipyard Ltd for the engineering, procurement and construction (EPC) contract of a new dry dock, reports The Hindu Business Line.
Godrej Agrovet may join race to acquire Ruchi Soya
Godrej Agrovet Ltd plans to bid for Ruchi Soya Industries Ltd, which is undergoing bankruptcy resolution, with an eye on its palm oil business, reports Mint.
GTL lenders agree to sell off firm’s assets
Lenders to GTL Ltd have agreed to a sale of assets of the company, which will be divided among them under an agreed formula. Read more
UltraTech offers to acquire Binani Cement
UltraTech Cement Ltd has upped the ante in its bid to acquire debt-laden Binani Cement Ltd by initiating talks with its parent Binani Industries Ltd outside the bankruptcy process, reports Mint.
Nalco to form joint venture for auto-grade aluminium unit
National Aluminium Company Ltd (Nalco) has firmed up plans to set up a joint venture with Canada-based Almex for the production of automotive-grade aluminium, reports Business Standard.
Stringent norms, extended lull seen weighing on realty sector
Stringent norms in the new regulatory regime and an extended lull in the real estate sector are likely to make it tougher for many developers to keep their heads above water going forward, with no revival in sight, reports Mint.
Govt proposes to ease environment rules for construction sector
Lastly, the government has once again proposed to ease the environment rules for the building and construction sector, stipulating that projects of less than 50,000 square metres size would not require environment clearance.