Vodafone Idea Ltd, India’s largest telecommunications company by subscribers, on Wednesday approved Rs 25,000 crore rights issue at a sharp discount.The deal is the second major fundraising by an Indian telco this year after Bharti Airtel Ltd announced a similar plan to reduce debt and fund operations in a market blighted by steep price competition.
DLF announced its second joint venture with global realty investment, development and management firm Hines. They will work on a project with total value of Rs 7,000 crore.
Bharat Electronics Limited (BEL), a defence public sector, has received the first Green Channel Status certificate from Directorate General Quality Assurance (DGQA) for supply of spares for particular radar being manufactured by Military Radar Strategic Business Unit (SBU) of BEL’s Bangalore Complex.
Fortis Healthcare has appointed Ashutosh Raghuvanshi as Managing Director and Chief Executive Officer (CEO) of the company with immediate effect.
Japan stocks were higher after the close on Wednesday, as gains in the Paper & Pulp, Trading and Electrical/Machinery sectors led shares higher. The Nikkei 225 gained 0.20%.
Australia stocks were lower after the close on Wednesday, as losses in the Metals & Mining, Materials and Resources sectors led shares lower. The S&P/ASX 200 declined 0.32%.
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.2% weighed down by Australia and South Korea.
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