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Opening bell: Asian markets open higher; Shoppers Stop, Godrej Agrovet in news

LiveMint logoLiveMint 25-09-2017 Harsha Jethmalani

US stocks end mixed, Asian equities open higher

US stocks closed narrowly mixed Friday as health care stocks recovered most of their losses. The Dow closed out its second consecutive week of gains.

Major Asian indexes climbed in early Monday trade as investors digested elections in Germany and New Zealand over the weekend.

Amazon buys 5% equity in Shoppers Stop for Rs179.25 crore

Departmental store chain Shoppers Stop Ltd has approved a proposal to sell 5% equity in the company for Rs179.25 crore to Amazon NV Holdings LLC, the investment arm of the world’s largest online retailer Amazon Inc. in a board meeting.

Aditya Birla’s acquisition bid may value Aleris Corp at $2.5 billion

Billionaire Kumar Mangalam Birla’s Aditya Birla Group is readying a bid for aluminium maker Aleris Corp., reports Mint.

Godrej Agrovet looking at $1.27 billion valuation in IPO

About 50 Godrej group employees have bought shares worth around $1.5 million (Rs8.5 crore) in a so-called pre-initial public offering (IPO) round of Godrej Agrovet Ltd. Read more.

Bank of India to raise Rs500 crore through QIP in third quarter

Bank of India (BoI) will raise Rs500 crore through a qualified institutional placement (QIP) and the bank is in the process of finalizing investment banks for the issue.

Maruti Suzuki Dzire overtakes Alto as India’s best-selling car in August

Maruti Suzuki India Ltd’s compact sedan Dzire, in its new avatar, became the best selling car in India for the first time in August, taking the pole position from its sibling Alto.

Govt to take steps to create jobs, but no abrupt change in public spending

The government is working on measures that will create more jobs and help raise income levels in view of the slowing economy, but no step impacting its revenue and spending balance will be taken outside the annual budget, two finance ministry officials said.

Supertech raises Rs350 crore from L&T Finance for housing project

Realty firm Supertech has raised Rs350 crore from L&T Finance to fund an ongoing housing project in Greater Noida. Read more.

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