Asia tracks US market losses

Asian stocks opened lower, tracking losses in the US markets. S&P 500 lost 0.76% to 2,457 points on concerns about North Korea and policy progress in Washington. Read more

IndiGo may buy stake in Jet Airways if Air India bid fails

InterGlobe Aviation Ltd-run IndiGo is convinced there is an opportunity for a large India-based airline with a significant international footprint, and may consider investing in Jet Airways (India) Ltd if it fails to acquire a stake in Air India, reports Mint.

Merck’s India unit part of German parent’s global sale plans

Merck KgaA is considering selling its global consumer health business, including that of its publicly traded Indian unit Merck Ltd. Read more

Bajaj Finance launches QIP at floor price of Rs1,777.9 per share

Bajaj Finance Ltd has launched Rs4,500 crore qualified institutional placement (QIP) at a floor price of Rs1,777.9 per share. The company has set a floor price of Rs1,777.9 per share for the share sale. The stock closed at Rs1,787.5 on the BSE on Tuesday.

Maruti Suzuki aims to grow in double digits in next three years

Maruti Suzuki India Ltd predicts the Indian automotive industry to grow in double digits for the next three to five years, reports The Economic Times. The company itself expects to grow in double digits in the next three years.

IGL, IOC-Adani, HPCL-Oil India set to win gas distribution licences

Indraprastha Gas Ltd, Indian Oil-Adani Gas combine and Hindustan Petroleum-Oil India joint venture are set to win licences to distribute gas in one city each in the latest round of auction, reports The Economic Times.

Banks start moving on NPA accounts in RBI’s second defaulter list

Banks have started work on debt resolution plans or are in the process of initiating insolvency proceedings against defaulters named in the central bank’s second list well in advance of the 13 December deadline set by the regulator, reports Mint.

Uttar Pradesh to clock record sugar output in upcoming season

Uttar Pradesh is likely heading for a new record of sugar production for the 2017-18 crushing season, which begins next month, reports Business Standard. The state is estimated to produce 9.7 million tonnes of sugar in the upcoming season this year, the report adds, citing an ICRA study.

Amazon India looks to cut costs, discounts to achieve profit by 2019

Finally, Amazon India (Amazon Seller Service Pvt. Ltd), which until recently had been spending freely to win market share, has been quietly trying to reduce losses to reach its target of getting on to a path to profitability by 2019.

Source:livemint.com