PRE-MARKET INDIAN NEWS:

Banks – Employee unions are going on a nationwide strike today, which is expected to hit services at some banks. (Newswires)

Tata Motors (TTMT IN) – Co. plans to invest INR 40bln to boost sales of its passenger and commercial units. (Newswires)

Indian Hotels (IH IN) – Co. is to raise INR 15bln in rights issue to lower debt and renovate some hotels. (Mint)

Coal India (COAL IN) – Co.’s management is in a standoff with unions, saying it cannot afford the extent of the salary hike being asked for. (Economic Times)

Bharti Airtel (BHARTI IN) – Co. is in advanced discussion with handset makers to introduce a 4g smart phone for approximately INR 2500 to take on Reliance. (Economic Times)

Alok Indsutries (ALOK IN) – Financial investors, including Bain Capital, have shown an interest in purchasing a stake in the company. (Mint)

ONGC (ONGC IN)/Hindustan Petroleum (HPCL IN) – The ONGC board has given approval to acquire the government 51.1% stake in HPCL. (Newswires)

22 Aug 2017 - 04:11- Equities- Source: RANsquawk

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