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Opening bell: Asian markets open higher; Airtel, Cairn India in news

LiveMint logoLiveMint 29-03-2017 Harsha Jethmalani

US stocks end higher; Asian markets follow suit

US equities rose on Tuesday as investors digested strong consumer confidence data, with financials leading.

Asia markets were modestly higher in early trade, after US equities rose higher, markets are awaiting the formal move by the UK to start an historic split with the European Union.

Revised GST legislation may pinch working capital of industries

The revised draft of the goods and services tax (GST) legislation tabled in Parliament could put pressure on the working capital of industries and spark greater litigation in the coming years

Airtel sells 10.3% stake in Bharti Infratel to KKR, Canada’s CPPIB

In a much needed ammunition to strengthen its presence in India’s telecom market, Bharti Airtel Ltd said that it has sold 10.3% stake in its tower company Bharti Infratel Ltd to a consortium of funds to raise Rs6,193.9 crore.

Cairn India, Vedanta get all approvals for merger except RBI nod

Cairn India and Vedanta Ltd have received all regulatory approvals for their merger, except the Reserve Bank of India’s (RBI) nod for issue of preference shares, the two companies said.

Tata ties up with Alibaba to take Tetley tea bags to China

About 300 years after the British East India Company introduced tea plantations in India to kill Chinese monopoly on its trade, the Indian owners of a classic British tea brand are introducing it in China.

SBI to raise stake in SBI Card to 74% by June-end

The country’s largest lender State Bank of India (SBI) said it will increase its stake in SBI Card to 74% by June end. The board of SBI has already given approval for hike of the bank’s stake in its two credit card joint ventures with General Electric Company to 74%.

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