Opening Bell | Tata Steel, Welspun, GMR in focus
Asian stocks opened higher, tracking the gains in the US markets; S&P 500 is up 2% to 2,091
Asia tracks US market gains
Asian stocks opened higher, tracking the gains in the US markets. Over the weekend, US markets closed sharply higher on upbeat employment report. S&P 500 is up 2% to 2,091.
Tata Motors to triple sales network
Tata Motors has lined up a slew of initiatives, including tripling of sales network, filling the gaps in its product portfolio, improving manufacturing processes and brand image, as part of its strategy to be one of the leading firms in the industry, reports PTI.
Tata Steel close to a deal on UK plant
Tata Steel Ltd is believed to nearing a deal to sell-off one of its UK steel plants, reports PTI. Several funds that specialise in trying to rescue troubled companies are battling it out to buy Tata’s long products arm, the report says.
Hindalco looks to exit copper mining
Hindalco Industries Ltd is planning to sell its sole copper mine to focus on its smelting business in India, reports Mint. In September, Aditya Birla Minerals Ltd, a Hindalco subsidiary in Australia, sold its Mt Gordon copper mine.
Welspun Enterprises in talks to sell road asset
Welspun Enterprises Ltd is in advanced discussions to sell its Dewas-Bhopal Corridor project in Madhya Pradesh to investment manager IDFC Alternatives, reports Mint. Welspun Enterprises holds 50% stake in the 142.6 km road project.
GMR in talks to sell stake in airports business
Fairfax Financial Holdings and Singapore’s Changi Airports International are in talks with GMR Group to invest around ₹ 3,200 crore in the airport business, reports The Economic Times. The GMR Group is also looking for strategic investors in its energy holding company and power projects, reports Business Standard.
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