Opening bell: Asian markets open lower; IndiGo, Titan, Essar Steel in news

US stocks end lower; Asian markets see a subdued opening

US stocks fell sharply on Friday, adding to their steep weekly losses, as investors assessed the possibility of a trade war brewing between the US and China.

Asian markets traded lower on Monday, following a global sell-off late last week amid fears that rising tensions between the US and China could lead to a full-blown trade war.

GST: Firms fear income tax dispute over input tax credits

Indian companies fear that input tax credit claimed for GST paid on raw materials may be disputed by tax officials later and are considering setting aside funds to cover risks arising from rejection of their claims.

IndiGo, SpiceJet report smooth transition to T2 of Delhi airport

IndiGo and SpiceJet shifted partial operations to Terminal 2 (T2) of the Indira Gandhi International Airport in the national capital, with both airlines reporting on time departure of flights and smooth operations.

Legal experts differ over eligibility of Arcelor Mittal’s bid for Essar Steel

Legal experts have differed over the eligibility of ArcelorMittal India Pvt. Ltd’s bid for Essar Steel Ltd, according to the minutes of the meeting held by the committee of creditors (CoC) of the distressed steel maker. Read more

PNB plans to stake claim in bankruptcy proceedings of Nirav Modi’s Firestar Diamond

Punjab National Bank (PNB) plans to take part in the bankruptcy proceeding of Firestar Diamond, a group company of jewellery designer Nirav Modi who has been accused of defrauding the state-run bank of nearly Rs13,000 crore.

Tanishq will gain from churn in jewellery sector, says Titan’s Bhaskar Bhat

With scams and frauds tainting jewellers, Titan Co. Ltd believes the time is just right for its Tanishq brand to burnish its clean image, scoop up market share and boost overall growth.

Indiabulls to sell stake in assets to Blackstone at enterprise valuation of Rs9,500 crore

Indiabulls Real Estate Ltd has executed definitive transaction documents with global private equity investor Blackstone Group Lp to divest 50% stake in subsidiaries Indiabulls Properties Pvt. Ltd and Indiabulls Real Estate Co. Pvt. Ltd at an aggregate enterprise value of Rs9,500 crore.

ONGC may buy out GAIL in OPaL

State-owned Oil and Natural Gas Corp. (ONGC) may buy out gas utility GAIL India Ltd in its Dahej mega petrochemical project in Gujarat to take full control of the recently commissioned plant built by ONGC Petro-additions Ltd (OPaL).livemint

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