India's Motherson Sumi buys Finland's PKC Group for $619 million
Indian auto parts maker Motherson Sumi Systems Ltd (MSSL) said on Monday it had completed the buyout of Finland's PKC Group for 571 million euros ($619.4 million).
MUMBAI Morgan Stanley raised its rating on Bharti Airtel Ltd (BRTI.NS) to "overweight" from "equalweight," citing positive factors for the sector such as rising tariffs and data volumes, falling capital spending and eased competitive intensity.
Morgan Stanley said the "failure" of the recent 900 Mhz auction also lowered regulatory risk for India's mobile sector, and upgraded Idea Cellular Ltd (IDEA.NS) as part of the same report dated Wednesday.
Nomura also raised its rating on Bharti, but to "neutral" from "reduce", citing a recent share price drop. Nomura said it remained "relatively cautious" on the sector given high valuations, regulatory "drama", and a "low" degree of confidence in earnings.
(Reporting by Abhishek Vishnoi and Manoj Dharra; Writing by Rafael Nam; Editing by Gopakumar Warrier)
TOKYO Bank of Japan board members said easy monetary policy will be in place for some time because consumer price growth is still distant from the central bank's 2 percent inflation target, a summary of opinions from their March 15-16 meeting showed on Monday.
U.S. stocks were well off session lows on Monday as investors sought bargains after a rough start on Wall Street following the defeat of President Donald Trump's first major legislative action.