Opening bell: Asian shares open mixed; Aurobindo Pharma, ICICI Bank in focus
Aurobindo Pharma has submitted an initial bid to buy Novartis AG’s dermatology generics drug business for about $1.6 billion
US stocks end lower; Asian markets open mixed
US stocks closed sharply higher Friday as Wall Street shrugged off lackluster numbers in the government’s monthly jobs report while shares of Apple hit an all-time high to lead the technology sector higher.
Asian markets were mixed in early Monday trade despite the strong showing on Wall Street as investors digested US jobs numbers and last week’s trade talks.
Aurobindo launches $1.6 billion bid to buy Novartis generics unit
Aurobindo Pharma Ltd has submitted an initial bid to buy Novartis AG’s dermatology generics drug business for about $1.6 billion, reports Mint.
JSW defers plans to tap PE fund for ports expansion
The Sajjan Jindal-led JSW group has deferred a private equity infusion into its ports arm as the deal to acquire APM Terminals’ stake in the Pipavav Port in Gujarat has been delayed. Read more
Temasek plans to acquire stake in Pine Labs in $400 million deal
Singapore government-owned sovereign fund Temasek Holdings Pvt. Ltd plans to acquire a significant minority stake in digital payments platform Pine Labs for $350-400 million.
India’s 7% projected growth rate ‘amazingly fast,’ can double economy in 10 years: ADB
India’s projected GDP growth of over 7% for the current fiscal is “amazingly fast” and if this momentum is maintained the size of the economy can double within a decade, Asian Development Bank (ADB) chief economist Yasuyuki Sawada has said.
Big wilful defaulters owe Punjab National Bank Rs15,172 crore
Big wilful defaulters owed Rs15,171.91 crore in loans to Punjab National Bank at the end of March this year. Read more.
Sebi panel proposes stricter norms for RTAs
A Securities and Exchange Board of India (Sebi) panel proposed tighter ownership and governance norms for registrar and transfer agents (RTAs).
TPG-Manipal combine sweetens offer further, to infuse Rs2,100 crore into Fortis
TPG-backed Manipal Hospital revised its offer to acquire Fortis Healthcare again, promising to infuse Rs2,100 crore at Rs160 per share, against an earlier proposal of Rs1,800 crore.
Exide Industries, ICICI Bank, Pfizer and Zee Learn are among the companies that will be announcing their March quarter.
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