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Opening bell: Asian markets open higher; Tata Sons, Gland Pharma, BPCL in news

LiveMint logoLiveMint 18-09-2017 Harsha Jethmalani

US stocks end higher; Asian markets open in green

US stocks rose to record levels on Friday and posted strong weekly gains. The US Federal Reserve is scheduled to announce its latest decision on the monetary policy next week. Most market participants do not expect a rate hike.

Asian shares gained on Monday as investors anticipated clues on the direction of monetary policy from central banks later in the week.

GSTN reopens composition scheme for small taxpayers

The GST Network (GSTN) has offered two more weeks for small traders who missed an earlier opportunity to sign up for a liberal compliance scheme involving quarterly return filings. The ‘composition scheme’ for traders with up to Rs75 lakh annual sales is now open till 30 September.

Fosun to buy 74% stake in Gland Pharma for $1.1 billion in revised deal

Shanghai Fosun Pharmaceutical Group Co. Ltd, a unit of China’s Fosun Group, has agreed to acquire 74% of Indian drug company Gland Pharma Ltd for $1.1 billion, the Chinese drugmaker said, reviving a deal that was widely speculated to have been blocked by the Indian government.

BPCL eyes government stake in GAIL India for Rs18,000-20,000 crore

State-run Bharat Petroleum Corp. Ltd (BPCL) is in talks with the country’s largest natural gas transporter GAIL (India) Ltd to acquire the government’s majority stake in it for Rs18,000-20,000 crore.

Need tax uniformity on petroleum products, says Dharmendra Pradhan

Oil minister Dharmendra Pradhan said he has requested the ministry of finance to bring petroleum products under the ambit of goods and services tax (GST) in the interest of consumers.

Tata Sons’s plan to go private seen as a blow to Mistry

Tata Sons Ltd’s proposal to convert itself into a private limited company from a public limited one will effectively restrict the Mistry family’s ability to sell its stake in the Tata group holding company to external entities.

Sebi board to take stock of suspected shell companies on Monday

Capital markets regulator Securities and Exchange Board of India (Sebi) will update its board on Monday on action being taken against suspected shell companies allegedly abetting routing of illicit funds through stock markets.

ITC says 40 new hotels with 5,000 rooms in pipeline

Diversified firm ITC plans to open 40 new hotels, adding around 5,000 rooms over a period of time, as part of the strategy to strengthen its hospitality business. Read more

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