New Delhi :
The ongoing tariff wars in the Indian telecom sector, Bayer AG's expected acquisition of Monsanto Co and the range-bound trading in the Indian stock markets make up our top three business stories as on September 14
1. Tariff Wars: Vodafone plans to infuse $3 billion equity in India
The bombastic entry of Reliance Jio Infocomm into the telecom market has forced fellow competitors to reassess their marketing and financial strategy to combat the tariff wars which has been unleashed by Jio.
As per reports published in major financial journals, Vodafone is planning to revamp its capital structure by infusing an equity of up to $3-billion (Rs 20,100-crore) in its India unit to replace its debt.
This strategic move come in light of the market competition intensifying with the entry of Reliance Jio and bidding for spectrum which gets underway in less than a month.
For more insights into the story:
Vodafone plans to combat Reliance Jio with a $3 billion equity infusion in India
2. German chemical and healthcare giant to announce $66 billion acquisition
German chemicals and healthcare giant Bayer AG is expected to announce the acquisition of U.S. seeds company Monsanto Co. later in the day, before the New York Stock exchange opens.
The acquisition deal is expected to be valued at more than $66 billion. The potential deal has been recorded the largest cash acquisition proposal in the history of global mergers and acquisitions.
For more insights into the story:
German chemical and healthcare giant to announce $66 billion acquisition
3. Stock Markets Remain Flat, IT Stocks take a hit
The BSE Sensex closed at 28,372 with a gain of almost 19 points. The BSE Sensex opened at 28,345 touched an intra-day high of 28,416 and low of 28,259. The NSE Nifty closed with a gain of 11 points at 8,727. The NSE Nifty opened at 8,711 hitting a high of 8,740 and low of 8,689.
Below par macroeconomic data and weak trend in Asian markets have been cited as the main reasons behind this sluggish downturn in the Indian markets over the last couple of days.
For more insights into the story:
Stock Markets Remain Flat, IT Stocks take a hit
