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Acquires Cynosure Inc and Cynosure Interface Solutions for $31mn and Rs13cr respectively

To add platform capabilities in the insurance segment which contributes 15% of total business

The Acquisition is expected to close within the next 3 months


Sells Essar Steel loan to Deutsche Bank

Has sold its $385 mn Foreign currency loan extended to Essar Steel

Bank has taken a 38% haircut

Rs 1600 cr is expected earnings to the bank from the deal

Economic Times Reports


To Sell 50% stake in prime Mumbai office assets to Blackstone for $1.3bn

The co is also in discussions to sell its residential and commercial projects in Chennai

To convene shareholder’s meet on 23rd March in regard to the proposed divestment

Mint Reports


Gets Order Worth Rs 230 Cr From NTPC

To perform the pressure part metallurgy upgradation for 3 660MW super critical steam generators

Will help NTPC commission the 3x 660MW plant started 12years


Declared L1 bidder for EPC Project in UP worth Rs 677cr from NHAI

The completion period for the project is 30 months


    32,596.54 409.73   (-1.24 %)

    9,998.05 116.70   (-1.15 %)
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Taking stock of bad debt

News In Brief


    Sierra Leone court upholds injunction to delay election run-off

    Freetown: A Sierra Leone court upheld a request by a member of the ruling party for an injunction on Saturday to delay a presidential election run-off that was meant to happen next Tuesday. 

    The member, Ibrahim Sorie Koroma, filed for the injunction on Thursday, saying there was evidence of electoral fraud that needed to be investigated before the poll could go ahead.


    Bombing kills two in Egypt's Alexandria, targets security chief

    Cairo: A bomb placed under a car exploded in Egypt’s second city Alexandria on Saturday, killing two people including a policeman, state news agency MENA reported.

    The bombing, which also wounded four policemen, had targeted Alexandria’s security chief police Major General Mostafa al-Nemr, the interior ministry said.  MENA quoted Nemr as saying that two people, a policeman and a driver, were killed in the blast.  


    Magnitude 6.8 quake hits near Papua New Guinea: USGS

    London: A magnitude 6.8 earthquake struck on Saturday around 180 kilometres (112 miles) southwest of Rabaul in Papua New Guinea, the United States Geological Survey (USGS) said.

    It said the quake was measured at a depth of 60 km (40 miles).


    Car bomb explodes in Egypt's Alexandria, one killed: Interior ministry

    Cairo: A car bomb exploded in Egypt’s second city Alexandria on Saturday, killing a policeman and wounding four others, the interior ministry said. 

    The bombing had targeted Alexandria’s security chief, the ministry said in a statement. Eyewitnesses said police and military personnel had formed a perimeter around the site of the explosion, which took place two days before the country is due to hold a presidential election.


    Russia says over 105,000 civilians have left Syria's Eastern Ghouta: RIA

    Moscow: Russia’s Defence Ministry said more than 105,000 people have left Syria’s Eastern Ghouta rebel enclave, including another 700 on Saturday since government forces began an assault to retake it a month ago, RIA news agency reported, citing the military. 

    RIA referred to evacuations taking place during “humanitarian pauses”. Russian President Vladimir Putin, Syrian President Bashar al-Assad’s main ally in the conflict, ordered daily five-hour ceasefires and the creation of a “humanitarian corridor” to allow civilians to leave Eastern Ghouta. In the event, the offensive - among the fiercest of the seven-year civil war - was largely carried out in defiance of international pleas to halt and honour a truce, and about 90 percent of eastern Ghouta is back under government control.


    Iran should turn to Russia, China after Bolton nomination: Senior MP

    Dubai: Iran should strengthen ties with Russia and China to counter a tougher U.S. stance expected after President Donald Trump’s appointment of John Bolton as national security adviser, a senior parliament member was quoted as saying on Saturday. 

    “Americans are pushing for harder policies towards the Islamic Republic of Iran and we need to strengthen our view towards the East, especially China and Russia,” Alaeddin Boroujerdi, head of parliament’s National Security and Foreign Policy Committee, told ISNA news agency.


    New China banking, insurance regulator to improve governance, risk management: Vice chair

    Beijing: The first task of China’s newly formed banking and insurance regulator is to improve corporate governance at the institutions while boosting their risk management and internal controls, a top regulatory official said on Saturday. 

    The China Banking and Insurance Regulatory Commission (CBIRC) will guide banks and insurers to return to their core businesses and support the real economy, CBIRC Vice Chairman Wang Zhaoxing said at the China Development Forum in Beijing. The regulator - formed after the recent merger of China’s banking and insurance watchdogs - will also tell them to reduce unnecessary off-balance sheet business, Wang said.


    French gendarme who traded places with hostage is dead: Minister

    Paris: The French gendarme who voluntarily took the place of a hostage during a deadly supermarket siege in southwestern France on Friday has died, Interior Minister Gerard Collomb said.

    The gendarme, or policeman, had been left fighting for his life after being hit by gunfire inside the Super U supermarket in the town of Trebes before elite police raided the premises and killed the attacker, who had burst into the store yelling “Allahu Akbar”. “Dead for his country. France will never forget his heroism, bravery and sacrifice,” Collomb said in a Twitter message in which he gave the gendarme’s name, Arnaud Beltrame.


    No change in foodgrain prices

    Chennai: Prices of all commodities remained unchanged in the wholesale foodgrain market here today.

    Following are the wholesale rates of various agri-commodities (rates in rupees per quintal, unless stated otherwise):Thoor Dal Rs 7,200, Urad Dal Rs 6,700, Moong Dal Rs 7,200, Gram Dal Rs 4,900, Sugar Rs 3,500, Wheat Rs 2,700, Maida (90 kg) Rs 2,600 and Sooji (90 kg) Rs 3,000.


    Lalu Prasad jailed for 7 years in another fodder scam case

    Ranchi: A special CBI court on Saturday sentenced RJD chief Lalu Prasad to seven years in jail in the fourth fodder scam case and fined him Rs 30 lakh.  He was convicted on March 19.


    UK investigators enter Cambridge Analytica offices in London

    London: Investigators from Britain’s data watchdog on Friday entered the London offices of a data analytics firm at the center of a storm over allegations it improperly harvested Facebook (FB.O) data to target U.S. voters, a Reuters witness said. 

    About 20 officials, wearing black jackets with “ICO Enforcement” on them, arrived at the central London offices of Cambridge Analytica, soon after a British High Court judge granted a search warrant sought by the Information Commissioner’s Office. Elizabeth Denham, head of the ICO, sought the warrant after a whistleblower revealed it had harvested the private information of millions of Facebook users to support Donald Trump’s 2016 U.S. presidential campaign.


    China's EximBank pledges at least $127 billion of financing for emerging industries

    Beijing: The Export-Import Bank of China (EximBank) and the country’s top economic planner have signed an agreement to boost financing support to emerging industries by more than $100 billion as part of efforts to foster new growth drivers. 

    EximBank will offer at least 800 billion yuan ($127 billion) of financial support to strategic industries including makers of high-tech equipment and new energy vehicles between 2016 and 2020, the official Xinhua news agency said on Saturday. The funds will be used for major projects and building innovation platforms, according to the agreement signed with the National Development and Reform Commission (NDRC).


    China should not seek high growth as financial risk mounts: Party official

    Beijing: For China to seek high economic growth at a time of accumulating financial risk could bring the country more risk, a senior Chinese Communist Party official said on Saturday. 

    China should focus less on “high-speed” growth in the short run and more on “quality” growth, said Yang Weimin, deputy director of the Office of the Central Leading Group on Financial and Economic Affairs. “In the past 30 years, China has already created a China miracle of high-speed growth. Over the next 30 years, China can create another,” Yang said at the annual China Development Forum in Beijing.


    BJP bags 9 Rajya Sabha seats in UP

    New Delhi: BJP wins UP prestige battle, bags 9 out of 10 seats up for grabs. Jaya Bachchan of Samajwadi Party wins Rajya Sabha seat with 38 votes. While BSP failed to get their candidate elected.

    (BTVI Webdesk)


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