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Opening bell: Asian markets open higher; RIL, Aurobindo Pharma in news

LiveMint logoLiveMint 16-08-2017 Harsha Jethmalani

US stocks end lower; Asian markets open higher

Retail stocks fell sharply on Tuesday, capping gains in the broader market in the US. The broader stock market ended the session little changed.

Asian shares were mostly higher in early Wednesday trade as investors digested earnings releases from regional corporates and a resurgent dollar.

Govt moves to disallow more of Reliance-BP-Niko’s KG-D6 cost

The oil ministry has sought to disallow about $264 million of the exploration and production cost the consortium of Reliance Industries Ltd (RIL), BP Plc. and Niko Resources Ltd wanted to recover in 2015-16 from the revenue generated by their D6 block in the Krishna-Godavari (KG) basin.

Aurobindo Pharma, Intas in race for Teva’s European assets

Aurobindo Pharma Ltd and Intas Pharmaceuticals Ltd are in the race to acquire part of the European assets of Israeli generic drugmaker Teva Pharmaceutical Industries Ltd in a deal that, if completed, could be the biggest overseas acquisition by an Indian pharma company.

Coal India Q1 profit falls 23% to Rs2,351 crore

Coal India Ltd, the world’s largest coal miner, said its first-quarter profit fell 23%, missing analysts’ estimates.

Tata Motors appoints HUL’s P.B. Balaji as CFO

Tata Motors Ltd announced the appointment of P.B. Balaji as its group chief financial officer (CFO). The announcement came on the same day as he resigned as chief financial officer of Hindustan Unilever Ltd (HUL).

Sebi in talks with other regulators to streamline pricing of corporate bonds

The Securities and Exchange Board of India (Sebi) is in discussion with other financial regulators to arrive at a uniform methodology for valuing corporate bonds in a bid to deepen the bond market. Read more

Barbeque Nation files IPO papers to raise Rs700 crore

Bengaluru-based Barbeque Nation Hospitality Ltd said it has filed draft documents for an initial public offering (IPO) with Securities and Exchange Board of India (Sebi) to raise about Rs700 crore. Read more

RBI rejects lenders’ plea to extend deadline for stake sale in GMR power plant

GMR Infrastructure Ltd said that Reserve Bank of India (RBI) has declined to extend the deadline to lenders of GMR Rajahmundry Energy Ltd for the sale of their 55% stake in a gas-based power project in Andhra Pradesh.

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