Sensex holds morning gains, Midcap extends upside; Tata Motors rises 2%

sensexup-770x433Stake sale: Lenders to Uttam Galva Steels have received two offers to take over the company, reports CNBC-TV18. The lenders plan to meet next week to discuss both offers.

The company was put on the block by lenders in a bid to recover Rs 5500 crore. SBI, which heads the 18-member consortium of lenders, was leading the efforts.

CNBC-TV18 learns one of the offers from AION Capital, which is currently working on the restructuring package. AION, which is a strategic partnership between ICICI Venture and Apollo Global Management, is an approximately USD-825-million fund.

4 GST bills in parliament?: The government may table four GST supplementary legislations in Parliament today, a union minister said.

“We can do it today as well. A meeting on GST will be chaired by Finance Minister Arun Jaitley today,” Minister of State for Finance Arjun Ram Meghwal said when asked about tabling of the four GST bills in the Lok Sabha.

He was speaking to reporters on the sidelines of an infrastructure event here. The Cabinet on Monday cleared the four GST related bills to enable roll out of the Goods and Services Tax from July 1. The four bills are: the Central Goods and Services Tax Bill 2017, the Integrated Goods and Services Tax Bill 2017, the Union Territory Goods and Services Tax Bill 2017 and the Goods and Services Tax (Compensation to the States) Bill 2017. A source had told that the bills would be introduced as money bills in Parliament this week.