Fortis shareholders okay stake sale

NEW DELHI: Fortis Healthcare on Tuesday said its shareholders have given nod to its acquisition by Malaysia’s IHH Healthcare. The shareholders have by an overwhelming majority of 99.69% voted in favour of issuance of equity shares on a preferential allotment basis. They have also approved to reclassify members of promoter/promoter group to public shareholder category and classification of Northern TK Venture Pvt Ltd as promoter. PTI

Mrs Bector’s to raise Rs 800 crore via IPO

New Delhi: Biscuit maker Mrs Bector’s Food Specialities has filed draft papers with SEBI to raise an estimated Rs 800 crore through an initial public offering. The IPO will see sale of shares to the tune of Rs 800 crore by existing shareholders and promoters, according to the draft red herring prospectus (DRHP) filed with SEBI. Linus, Mabel, GW Confectionary Pte Ltd, GW Crown Pte Ltd and Anoop Bector will offer stocks in the initial share-sale. PTI

Trade deficit widens to $18.02 bn in July

New Delhi: India’s exports rose by 14.32% to $25.77 billion in July compared to $22.54 billion in the year-ago month mainly on account of better performance of gems and jewellery sector as well as petroleum products. The sharp surge in imports led to worsening of trade deficit to $18.02 billion in the reporting month as against a deficit of $11.45 billion during July 2017.  Gold imports surged by 40.94% in July to $2.96 billion. PTI

Wholesale inflation eases to 5.09%

New Delhi: Wholesale inflation eased to 5.09% in July on account of cheaper food articles, especially fruits and vegetables, government data showed on Tuesday. The wholesale price index (WPI) based inflation was recorded at 5.77% in June. In July 2017, it was at 1.88%. The wholesale inflation in food articles category was (-) 2.16% in July as against (+) 1.80% in the previous month, the Commere and Industry ministry data showed. PTI