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Tata Steel Completes INR35,200cr purchase of bankrupt Bhushan Steel et al

Professor of Financial Economics and Part-time Value Investor, Transfin.
May 19, 2018 12:12 PM 1 min read
Editorial

End of Day Wrap-up (Saturday / May 19, 2018) #JetAirways #AirIndia #BrentCrude #CrudeOil #TataSky #BhushanSteel #Walmart #Paypal #Transfin

Editor's comment: Jet Airways not ruling out the opportunity to acquire Air India, as per Chairman Naresh Goyal. Comments significant considering Indigo, the only real contender to acquire the distressed state-owned airline assets, has recently indicated a loss of appetite to acquire. 

 

Mobile users need not buy a new SIM to change service provider or buy a new connection, according to latest DoT guidelines permitting use of embedded SIMs. Guidelines issued 5 days after Reliance Jio and Bharti Airtel started selling Apple Watch Series 3, which depend on embedded SIMs.

 

Brent crude crosses $80 per barrel, European markets in positive territory. India's import bill expected to rise by $25bn-$50bn in 2018-19. India's forex reserves fall fourth weekly fall with RBI executing INR stabilisation operations.  

 

Tata Steel completes acquisition of distressed steelmaker Bhushan Steel. Banks recover INR32,500cr. Govt uses deal to hail success of IBC.

 

Walmart approaches competition regulator to seek regulatory approval for its acquisition of Indian e-commerce player Flipkart.  

 

PayPal acquires Swedish mobile credit card startup iZettle for $2.2bn. Deal expected to close in 3Q 2018.