Market may open flat with positive bias
June 07, 2021
RInfra, Hero Moto, IOL Chem, Welspun, Rohit Ferro to remain in focus
Indian markets are likely to open on a positive note but within the range, amidst positive global cues, easing corona cases and mixed economic data. The BSE Sensex, which narrowly missed topping the all-time high of 52,516.76 on Friday, will remain in focus.
The SGX Nifty at 15,733 (8 am IST) indicates a flat-to-positive opening for Nifty futures, which on Friday closed at 15,700.85 on the NSE.
Most Asia-Pacific stocks are also listless with markets in Japan, China, Australia and South Korea trading little changed. However, Taiwan equities are down about 0.6 per cent.
Synopsis
TSML has accepted the Letter of Intent for acquisition of Rohit Ferro-Tech under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code 2016, the steel maker said without elaborating further.
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Tata Steel Mining Limited (TSML) has been declared as the successful resolution applicant by the creditors of Rohit Ferro-Tech Limited, steel major Tata Steel said on Sunday. Tata Steel Mining Limited is a wholly-owned subsidiary of Tata Steel.
In a BSE filing, Tata Steel said, TSML has been declared as successful resolution applicant by the Committee of Creditors for acquisition of Rohit Ferro-Tech Limited on June 5, 2021, subject to it obtaining necessary regulatory approvals including approval from the National Company Law Tribunal.
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