Ripples Advisory, Opening bell: Asian markets open lower
Tata Steel offers upfront payment of Rs35,200 crore to Bhushan Steel, while JSW Steel ties up with Numetal in bid to buy Essar Steel
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Asia tracks US market losses
US stocks closed sharply lower hit by uncertainty surrounding trade policy and weakness in shares of technology and internet companies. S&P 500 at 2,581 points is down 2.2%. Tracking the cues, Asian markets opened lower.
Core sector growth up 5.3% in February
An increase in production of petroleum refinery items, steel, cement and fertilisers pushed up the overall growth of the eight core infrastructure industries to 5.3% in February compared to the same month last year, reports The Hindu Business Line.
Car sales in March rise 12% on strong rural demand
India’s top car makers reported an 11.72% growth in sales in March, boosted by strong semi-urban and rural demand. Read more
Motherson Sumi buys Reydel Automotive for $201 million
Motherson Sumi Systems Ltd, the flagship company of the Samvardhana Motherson Group, said it has agreed to acquire Reydel Automotive Group for $201 million.
Tata Steel offers upfront payment of Rs35,200 crore to Bhushan Steel
The insolvency resolution professional for Bhushan Steel Ltd told the National Company Law Tribunal that Tata Steel Ltd has offered an upfront payment of Rs35,200 crore to lenders, along with a 12.27% stake in the debt-laden steel maker.
JSW Steel ties up with Numetal in bid to buy Essar Steel
The battle for Essar Steel Ltd saw the surprise entry of JSW Steel Ltd, which has formed a tie-up with Numetal Mauritius, which is already in fray.
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