Opening Bell 12 March | Global markets trend higher
Asian markets are trading higher. The
Nikkei gained 0.43% to 12,402 on growing confidence about the US economy
and speculation that the Bank of Japan will introduce more monetary
easing measures. Read the Bloomberg report.
Overnight, US markets closed firm with the S&P 500
rising 0.32% to 1,556 on buying in electronics and financial services
companies. Read more.
Back home, auto makers are offering discounts and
freebies to try and overcome the effects of one of the worst ever
slowdowns in the sector, reports Mint. With sales falling the most in 12 years last month, some auto makers are offering finance at 0% interest along with free insurance.
The defence ministry has reportedly cleared Reliance Industries Ltd’s KG-D6 block and gas discovery area NEC-26. For security reasons, the blocks were declared as no-go zones. Read more.
Sebi has approved Diageo Plc’s proposal to acquire a majority stake in United Spirits Ltd for $2 billion (Rs.10,860
crore). The market regulator also approved the clause in the open offer
document of United Spirits that enables the sale of the company’s
assets and investments by Diageo within two years. Read more.
The first unit of Reliance Power Ltd’s Sasan ultra mega power plant has begun electricity generation. The company is aiming to commission other units ahead of the schedule.
Indiabulls Power Ltd also connected the first unit of of its 1,350 megawatt Amravati phase I
thermal power plant in Maharashtra with the western grid. The
electricity generated will be supplied to the Maharashtra state
electricity distribution company.
BY SHIV KUMAR
PGDM 2 nd sem
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