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Opening bell: Asian markets open mixed, Reliance Jio, Airtel, Idea stocks in focus

LiveMint logoLiveMint 20-09-2017 Harsha Jethmalani

US stocks end higher; Asian markets open mixed

US equities rose on Tuesday as the US Federal Reserve kicked off a two-day monetary policy meeting.

Asian shares edged down slightly on Wednesday as investors awaited monetary policy news coming at the conclusion of the Fed’s two-day meeting.

Trai lowers IUC, Reliance Jio prevails over Airtel, Idea

The Telecom Regulatory Authority of India (Trai) more than halved the so-called interconnect usage charge (IUC) to six paise with effect from 1 October, dealing a big blow to older telecom firms, such as Bharti Airtel Ltd, Vodafone India and Idea Cellular Ltd, and a potential boost to newcomer Reliance Jio Infocomm Ltd.

ICICI Lombard IPO gets fully subscribed, bidding ends

The initial public offering (IPO) of general insurance firm ICICI Lombard General Insurance Co. Ltd to raise as much as Rs57 billion was fully subscribed early on the last day of the sale on Tuesday, stock exchange data showed.

Tata Motors, Tata Chemicals, Tata Global Beverages witness series of block deals

Three Tata Group companies—Tata Motors Ltd, Tata Chemicals Ltd and Tata Global Beverages Ltd—witnessed a series of block deals on Tuesday, in which a combined 86 million shares changed hands. However, details of buyers and sellers were not available. Read more

IOC, BPCL, HPCL to borrow more to keep up capital spend: Moody’s

State-owned fuel retailers Indian Oil Corp. (IOC), Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL) will go in for increased borrowings to sustain high dividend payments and capital spending this fiscal, keeping their credit metrics weak, Moody’s Investors Service said. Read more

IndiGo breathes easy as Pratt and Whitney delivers 2 neo engines for A320s

American engine-maker Pratt & Whitney has started supplying new engines to its largest customer in the country, IndiGo, helping it put back into operations some of the grounded A320 Neo planes.

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