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ULTRATECH CEMENT

Ultratech Cement leads race to take over Binani Cement

Offers around Rs 6,200 cr, 20% stake in co to unsecured financial creditors

Dalmia Bharat offers Rs 6,300 Cr

Dalmia seen to lose as UltraTech offering equity stake to creditors

Final decision on winner to be ratified by NCLT

Business Standard Reporst

IRB INFRA

4 companies put in bids for 9 operational national highways under ‘toll-operate-transfer’ model

Brookfield Asset mgmt, Macquarie, IRB Infra and Roadis- NIIF are cos in fray

NHAI hopes to generate more than Rs 6000 cr Under TOT model

auction will involve five highways running across Andhra Pradesh and four in Gujarat
total length of these highways is just under 700 km

Successful bidder to get toll collection rights for 30 years

BALAJI AMINES

Ministry of Commerce recommended Central Govt Anti dumping duty on Dimethylacetamide

Recommend duty for 5 Yrs on DMAC originating from China and Turkey

ADANI TRANSMISSION

Co bags Rajasthan Project

Received a LOI to construct, own, operate and maintain Fatehgarh-Bhadla transmission project in Rajasthan

Received LOI from PFC Consulting Ltd, an arm of Power Finance Corporation

With this project, ATL will strengthen its existing presence in Rajasthan with 2 operational transmission projects and 4 under construction assets

On completion of this acquisition cumulative transmission network will reach 12000 ckt kms, out of which ~9000 ckt kms under operation

Transformation capacity of ATL will also increase to 19,300 MVA from 35 substations

FORTIS HEALTHCARE

To be out of F&O if it does not declare quarterly results by March 1

All existing F&O contracts will expire on March 28

No fresh contracts will be available if the firm fails to submit results for quarters ended September and December 2017 by March 1

  • SENSEX

    34,142.15 322.65   (0.95 %)
  • NIFTY

    10,491.05 108.35   (1.04 %)
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News In Brief

 

    Warren Buffett says Berkshire needs to do 'one or more huge acquisitions'

    New York: Warren Buffett on Saturday said Berkshire Hathaway Inc (BRKa.N) needed to make “one or more huge acquisitions” to increase its earnings, but admitted that finding a deal at “a sensible purchase price” had become a challenge.

    “Prices for decent, but far from spectacular, businesses hit an all-time high,” Buffett said in his annual letter to shareholders. “The ample availability of extraordinarily cheap debt in 2017 further fueled purchase activity.”

    (Reuters)

    CBI questions PNB MD Sunil Mehta

    New Delhi: CBI questions PNB managing director Sunil Mehta and an executive director in fraud case involving Nirav Modi, says officials.    

    (PTI)

    Rahul Mahajan is Rajya Sabha TV Editor-in-Chief

    New Delhi: Senior journalist Rahul Mahajan was on Saturday appointed Editor-in-Chief of Rajya Sabha TV, owned and operated by the Upper House of Parliament, the television channel said. 

    A five-member selection panel, chaired by Prasar Bharti Chairman A. Surya Prakash, recommended Mahajan's appointment and Rajya Sabha Chairman M. Venkaiah Naidu approved it, Rajya Sabha TV said in a tweet. Mahajan, who hails from Shimla in Himachal Pradesh, has 26 years of media experience, including 23 years in various news channels.

    (IANS) 

    Sonia Gandhi cancels Rae Bareli visit

    Rae Bareli (UP): Former Congress chief and Rae Bareli MP Sonia Gandhi's day-long visit to her parliamentary constituency was cancelled today due to "unavoidable reasons".

    "Gandhi's day-long visit has been cancelled due to unavoidable reasons. We informed district officials about it late last night," her representative K L Sharma said here. Gandhi was to attend a meeting of party leaders and launch a number of schemes from MP's discretionary fund at the Bhuremau Guest House today.

    (PTI) 

    China to maintain proactive fiscal policy, prudent monetary policy: Xinhua

    Beijing: China will continue to adopt a proactive fiscal policy and a prudent monetary policy to fulfill its 2018 economic and social development goals, state media Xinhua reported on Saturday, citing a statement from the ruling Communist Party’s politburo. 

    The politburo is the party’s top political institution. China’s economy grew 6.9 percent in 2017, the first annual acceleration in economic growth since 2010. The government will release its 2018 gross domestic product forecast for 2018 during the annual parliament meeting next month.

    (Reuters)

    Russian bobsledder Sergeeva admits anti-doping violation: CAS

    Pyeongchang, South Korea: Russian bobsledder Nadezhda Sergeeva has admitted an anti-doping violation and has been disqualified from the Winter Olympics, the Court of Arbitration for Sport (CAS) said on Saturday. 

    Sergeeva, who finished 12th in the women’s bobsleigh competition, had tested positive in an out-of-competition test for the banned product trimetazidine and had her result from the race removed, CAS said in a statement. The athlete had accepted a provisional suspension beyond the period of the Games, CAS said.

    (Reuters)

    China central bank to skip open market operations today: Statement

    Beijing: China’s central bank said it will skip open market operations on Saturday as liquidity levels in the banking system were “appropriate”.

    (Reuters)

    South Korea says US sanctions on North will bolster UN resolutions

    Seoul: South Korea said on Saturday new U.S. sanctions on North Korea will bolster international community compliance with U.N. resolutions aimed at pressing the isolated state to give up its development of nuclear weapons. 

    “New U.S. sanctions will alert those who are illegally trading with North Korea and therefore bolster the international community to carry out resolutions from the U.N. Security Council,” the South Korean foreign ministry said in a statement. The ministry reaffirmed that South Korea and the United States would work closely to achieve North Korea’s denuclearisation peacefully.

    (Reuters)

    US to move to 'phase 2' if North Korea sanctions don't work: Trump

    Washington: U.S. President Donald Trump said on Friday the United States would move to “phase two” if sanctions against North Korea did not work, although he did not specify what that would mean. 

    “I don’t think I‘m going to exactly play that card. But we’ll have to see. If the sanctions don’t work, we’ll have to go phase two,” Trump told reporters. “Phase two may be a very rough thing, may be very, very unfortunate for the world. But hopefully the sanctions will work.”

    (Reuters)

    Fed's Williams sees three to four rate hikes in 2018

    Los Angeles: The Federal Reserve should raise U.S. interest rates three or four times this year, John Williams, president of the San Francisco Federal Reserve Bank, said on Friday, adding that the next rate hike should take place in “the near future.” 

    “A steady three to four rate increases this year is really the right path,” Williams told reporters after a Town Hall Los Angeles event. The Fed is widely expected to raise rates when policymakers meet next month. Williams is a voter on monetary policy this year.

    (Reuters)

    New U.S. sanctions target virtually all ships North Korea is using: Mnuchin

    Washington: New measures to block supplies and money from going to North Korea’s work on developing nuclear arms target virtually all shipping that the country is currently using to evade international restrictions, U.S. Treasury Secretary Steve Mnuchin said on Friday. 

    Mnuchin told a White House briefing that current economic sanctions are beginning to have a significant impact on North Korea’s weapons programs, and said the new sanctions bring the total penalties on trade with North Korea to 450. ”This is very impactful,“ he said. We’re going to do everything to stop these ship-to-ship transfers.”

    (Reuters)

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