News digest: Stock markets, IPOs, Tata Motors, Dr Reddy's, and more

BS brings you top stories to keep up with the latest news

Taxing times for IPOs: LTCG tax prompts issuers to expedite market launch

The reintroduction of the long-term capital gains (LTCG) tax has placed companies coming up with initial public offerings (IPOs) in a quandary. According to sources, about half-a-dozen companies are planning to launch their IPOs before the end of this fiscal year to avoid the tax. However, the downturn in the stock market provides little comfort to bankers and issuers over listing. Read more
 
Market slide continues as FIIs press sell button on rising US bond yields

Indian and global equities extended the sell-off on Monday, as investors’ risk appetite continued to wane after US bond yields hit a four-year high, raising speculation that the Federal Reserve will raise policy rates more aggressively. Read more

 
Tata Motors turns profitable at standalone level after five quarters

Tata Motors, the country’s biggest truckmaker, is back in black at a standalone level in the third quarter, helped by sharp growth in revenues (led by volumes) and cost reduction. The company had incurred losses at a standalone level in the five preceding quarters. Read more
 
 
Dr Reddy's Labs acquiring products but not marketing most of them
 
Indian drug manufacturer Dr Reddy's Laboratories is yet to translate a majority of product acquisitions it made between 2014 and 2016 into commercial opportunities. Some products were stuck over approvals, the company said, while a few others remained in the realm of the firm’s long-term opportunities.

 
According to a latest filing with the US Securities and Exchange Commission, Dr Reddy's has so far been able to take products to the stage of commercial launch in just four out of nine asset acquisitions. The firm had spent a staggering Rs 42.17 billion on these buys. Read more