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Top 10 business headlines: Sun Pharma stock, Prabhat's dairy biz, and more

Here are the top 10 business stories that made news on Monday

BS Web Team 

Sun Pharma
FILE PHOTO: A bird flies past the logo of Sun Pharma installed on the facade of its corporate office in Mumbai | Photo: Reuters

After stock crashes, its co-promoter may leave Jaypee Infra race

Suraksha Asset Reconstruction, owned by Sudhir Valia, a co-promoter of Sun Pharmaceutical Industries, is likely to drop out of the race for Jaypee Infratech, according to sources. Suraksha was planning to make a bid for Jaypee in a tie-up with Dosti Realty, a Mumbai-based real estate developer. Read on...

reluctant to change FPI portfolio limits introduced last year

The Reserve Bank of India (RBI) is reluctant to relax portfolio-level limits it introduced for foreign portfolio investors (FPIs) last year. In a meeting with about 50 FPIs and a few custodians on Monday the central bank said it did not want to tweak the existing regulations, said sources in the sector. Click here to read.

French firm's Indian unit buys Prabhat's dairy business for Rs 1,700 crore

Global dairy major Lactalis will buy Mumbai-based Prabhat’s milk business in its third acquisition in India. Prabhat told the stock exchanges on Monday that Lactalis’ Indian subsidiary Tirumala Milk Products was acquiring its dairy business for Rs 1,700 crore, which is 1.09 times its FY18 sales of Rs 1,554 crore. Read on...

sees potential exports of 200 F-16 jets from proposed Indian plant

Martin sees a potential export market of more than $20 billion for its F-16 fighter aircraft from an assembly line in India it has offered to set up in order to win a large Indian military order, a top executive said. Click here to read.

RIL's asset monetisation likely to pare Rs 1 trillion of total debt

Reliance Industries (RIL) said last week that it plans to go for asset mo­n­e­tisation and see higher earn­i­ngs as well as lower capital expenditure. They are of the opinion that the asset monetisation could alone help shave off 33 per cent or Rs 1 trillion of its total debt. Click here to read.

With Reliance Jio's bull run, stability in telecom pricing to take longer

Hopes that telecom tariffs will stabilise from the fourth quarter may not fructify because Mukesh Ambani-led Infocomm, a subsidiary of Reliance Industries, indicated during the announcement of the third-quarter results that the company will not tinker with tariffs as that might stall the growth momentum. Read on...

8,000 homebuyers brace for Supreme Court hearing on Amrapali Group

There is much hope riding on the Supreme Court hearing this Thursday for around 8,000 homebuyers of the insolvent Amrapali Group. These 8,000 houses are part of the 15 projects of the realty group, constituting a total of 46,575 units. Click here to read.

Xander in talks to set up logistics platform in India

Real estate-focused private equity (PE) firm Xander Group Inc. is in talks with potential investors to set up a logistics platform in India, according to a Livemint report. Based in Singapore, Xander invests primarily in companies in infrastructure, hospitality, entertainment, retail and real estate sectors.

Cyber expert alleges India's 2014 general elections 'rigged'

A man who named himself as Syed Shuja, an Indian purportedly given political asylum in the United States, on Monday claimed he was part of a team that designed a program which, he alleged, helped BJP to ‘hack electronic voting machines’ in the 2014 Lok Sabha elections, according to The Economic Times report.

As millets turn food of choice in cities, traders reap a rich harvest

As urban consumers increasingly prefer small millets, traders are jumping onto the health-food bandwagon to cash in on the growing trend, according to The Hindu BusinessLine report. Besides scarce supplies, the traders’ rising interest has led to an increase in the price of some varieties such as foxtail millet and browntop millet over the past couple of months.

First Published: Tue, January 22 2019. 06:32 IST