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Opening bell: Asian markets edge up; Tata Motors, Indian Hotels, Coal India in news

LiveMint logoLiveMint 22-08-2017 R. Sree Ram

Asian markets open higher

Asian shares edged higher in morning trade, tracking modest gains on the Wall Street, reports Reuters. S&P 500 at 2,428 points is up 0.12%.

Bank unions on all-India strike today

Services at public sector banks are expected to be hit on Tuesday with employee unions going on a nationwide strike. Read more

Tata Motors plans to invest Rs4,000 crore to boost sales

Tata Motors Ltd plans to invest more than Rs4,000 crore to boost sales of its passenger and commercial vehicles, reports Reuters.

Indian Hotels to raise Rs1,500 crore via rights issue

Indian Hotels Co. Ltd announced a Rs1,500 crore rights issue to reduce debt and renovate its hotels, reports Mint.

Standoff between Coal India, unions over salary hikes

According to The Economic Times, Coal India Ltd’s management has reportedly said it cannot afford the extent of salary hike its unions are asking as its fund position would not permit. Unions, however, are not ready to accept this, the report adds.

Airtel plans 4G smartphone to take on Jio

Bharti Airtel Ltd is in advanced talks with handset makers to introduce a 4G smartphone for about Rs2,500 to take on Reliance Jio, reports The Economic Times.

Financial investors eye stake in Alok Industries

A distressed asset investment platform by Piramal Enterprises Ltd and private equity fund Bain Capital Credit and special situations fund AION Capital Partners Ltd, have shown interest in buying a stake in debt-laden Alok Industries Ltd, reports Mint.

ONGC board approves HPCL takeover

The board of ONGC Ltd gas given “in-principle” approval to acquire government’s 51.11% stake in HPCL Ltd, reports PTI.

Around 100 brokers under lens for helping shell companies

The Securities and Exchange Board of India and the income-tax department are investigating the role of about 100 brokerages which they believe may have helped shell companies launder as much as Rs16,000 crore, reports Mint.

BSE to ‘compulsorily’ delist 200 firms

The BSE will “compulsorily” delist 200 firms this week and bar their promoters from the markets for 10 years as trading in these shares have remained suspended for over a decade, reports PTI.

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