Asian stocks posted modest gains in early trade following an afternoon rally in the U.S. that erased most of the day’s losses, as investors grappled with shifting indications on U.S.-China trade talks and prospects for a pause in Federal Reserve tightening.
HCL Technologies to buy select IBM software products for $1.8 billion. The transaction is expected to close by mid-2019.
Finance Minister Arun Jaitley said the Cabinet Committee on Economic Affairs approved the strategic sale of 52.63 percent stake in REC to PFC. along with management control. He expected the deal to be completed by the end of the financial year.
A Government official said with PFC buying government’s stake in REC, Government’s divestment receipts will reach around Rs 53,000 crore to Rs 54,000 crore.
Lupin’s Canada arm received an approval from Health Canada for Zaxine drug used for the treatment of irritable bowel syndrome.
The drug will be launched in December under a strategic licensing agreement with Salix Pharma.
Government sold 2.21 percent equity shares of Coal India. worth Rs 3,300 crore to Reliance Nippon Life Asset Management as the asset management company of the CPSE ETF mutual fund scheme.
Reliance Industries’ Reliance Jio Infocomm board was considering restructuring and reorganizing proposals on Dec. 11.
Wipro’s digital business arm announced expanded global partnership with the U.S. based ‘Alfresco’ to offer open source digital solutions.
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