 "News digest: Arcelor revises bid for Essar, Rupee touches 72.5, and more")
Arcelor revises bid for Essar to Rs 420 bn
The world’s largest steelmaker, ArcelorMittal, on Monday increased its offer for Essar Steel to Rs 420 billion, in a bid to trump the Rs 370-billion offer made by Numetal-JSW Steel. Read more
Sensex posts biggest fall in 6 mths; Rupee touches 72.5
The equity markets posted their biggest fall in six months, while the rupee and government bonds plunged further after India’s current account deficit (CAD) widened the most since 2013. Read more
Sebi mulls allowing NRIs through FPI route
The Securities and Exchange Board of India (Sebi) is looking at including non-resident Indians (NRIs) in the foreign portfolio investors quota. Sources said the regulator had written to the central government, seeking its opinion on this. Read more
Foreign automakers struggle on commercial vehicle route
Truckmaker MAN, part of the Volkswagen group, decided to shut its India shop last month after 12 years of operations. In June this year, Swedish commercial vehicle maker Scania decided to stop producing luxury buses in India. American truckmaker Navistar exited India by walking out of a joint venture (JV) with Mahindra and Mahindra (M&M) about five years ago. Read more
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