Daily updates after market hours

  • Liberty House has restarted steel facility in South Carolina marking entry of the group in US market (capacity of 750,000 ton or 0.75MT per year was closed in 2015 before Sanjeev Gupta acquired it in 2017)
  • EPFO trustees to consider tomorrow widening range of equity linked schemes or ETF’s to maximize returns in investments in equity markets (currently invests 15% of its investible deposits in equity kinked schemes)
  • Tata Sons Chairman N Chandrasekharan set to present his 1st 5 year vision plan for the Group’s larger companies at its 2 day board meeting beginning tomorrow in London ( updates wrt merger & acquisitions likely)
  • Tata Group lining up re-entry into India’s Rs 35000cr white goods market in August 2018 launching refrigerator, washing machines etc under Voltaw Beko Brand with Rs 1000cr investment
  • Coal India has offered mix of 30MT thermal & coming coal at recently announced 4th tranche of long term supply contract for the non power sector ( price usually 20% higher than fixes for power sector)
  • Indian companies investment into their overseas subsidiaries/JV Dell by 63% YoY to $1.2bn in May 2018 including $370mn by Indiabulls Real Estate

#Idea-#Vodafone merger may get delayed as DoT readies fresh demand of Rs 4,700 crore

Market updates. some major events and world market…