The domestic stock market is likely to witness a flat start on Tuesday following weak cues from the Asian markets. SGX Nifty futures, an early indicator of the NSE Nifty 50 index, were trading 13.50 points, 0.12%, lower at 11,473. Asian shares were struggling to avoid a ninth straight session of losses on Tuesday as the spectre of a Sino-U.S. trade war haunted investors, while the pound perched near a five-week top on hints a Brexit deal might be nearer, said a Reuters report.
Sun Pharma: Drug major Sun Pharmaceutical Industries will acquire 18.75% shares of Israel-based Tarsius Pharma for a cash consideration of $3 million.
BSE, PTC India, ICICI Bank: BSE, along with PTC India and ICICI Bank, have filed a petition with the power market regulator CERC for grant of license to set up a new power exchange.
Tata Motors: Tata Motors reported a 14% increase in global sales, including that of Jaguar Land Rover (JLR), to 1,07,030 units in August. Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range last month were at 45,719 units, up 29% from the year-ago period, the company said in a statement.
Alembic Pharma: The board of Alembic Pharmaceuticals has approved a proposal to raise up to Rs 300 crore through issuance of non-convertible debentures (NCDs) on private placement basis and has also approved constituting an NCD Committee for issuance and allotment of NCDs.
NMDC: State-owned NMDC has produced 9.85 million tonne (MT) iron ore in the April-August period of the ongoing financial year. The company produced 6.17 MT iron ore from its mines in Chhattisgarh and 3.68 MT from the mine in Karnataka, NMDC said in a filing to BSE.
Vinati Organics: Capital markets regulator Sebi has exempted two connected private family trusts related to the promoter group of Vinati Organics from making an open offer following their proposed acquisition of additional stake in the firm, said a PTI report.
Jaypee Infratech: Jaypee Infratech Ltd’s two independent directors — Keshav Prasad Rau and Basant Kumar Goswami — have resigned. While Rau has cited personal reasons for the resignation, Goswami resigned because of his growing age and indifferent health, the debt-ridden firm said in a regulatory filing.
JSW Steel: The company’s crude steel output grew 8.3% to 14.48 lakh tonne (LT) during August 2018, it said in a filing to BSE. Last month, the production of flat-rolled products was almost flat at 9.81 LT against 9.79 LT in August 2017, it said.