Play this video BTVI

Stocks In News



Provident Housing Ltd enters Goa with Adora de Goa an Integrated Resort distric

Project is expected to deliver a Sales Volume of close to Rs 1000 cr over the next 5 years

Group is entering into a management contract with The Park Hotels



Rare Enterprises Buys 3 Cr Shares At Rs 18.37/Sh


Attracts 26 bidders for 51% stake quoting bids between Rs 8000-10,000 Cr

Firms such as ITC, Patanjali Ayurved, Emami Group and Aion Cap are among the bidders

Bidders are bullish on the sector after Govt raise import duties on certain vegetable oils

The govt announced in the budget a hike in import duty to 30-35%

Businessline Reports


TPG Cap and Manipal Health are eyeing controlling stake in the co

Likely to lead to 2 simultaneous open offers leasing to premium offers to attract investors

Will have to buy at least 26% stake through Voluntary open offer as part of takeover code

A 26% shareholding will automatically trigger the mandatory open offer for additional 20%

Business Standard Reports


TRAI issues show-cause notice to co

Seeks details of non-transparent, discriminatory tariffs to consumers

Have to respond till Mar 25

Action to depend on if tariff reported to regulator or not

Notice first one after TRAI issued tariff order on predatory pricing

Economic Times Reports


    32,923.12 252.88   (-0.76 %)

    10,094.25 100.90   (-0.99 %)
You can skip this ad in seconds.
Will NCLT allow Ultratech's bid?

News In Brief


    Zimbabwe changes empowerment law limiting majority ownership to diamond and platinum

    Harare: Zimbabwe has changed its empowerment law to limit majority ownership by state entities to only diamond and platinum mines and not the entire mining sector as in previous legislation, according to a government notice. 

    The Indigenisation and Economic Empowerment Act was designed to increase black Zimbabweans’ share of the economy but were opaque and open to abuse, to the detriment of foreign investor confidence, a situation that new President Emmerson promised to change.


    OPEC's Barkindo says oil market improving but stockpiles still high

    Baku: OPEC Secretary-General Mohammad Barkindo said on Monday that conditions on the oil market have been improving but that global inventories remain above the 5-year average, the important benchmark for the market.

    “The worst is probably over for now. We are beginning to see light at the end of the tunnel but we still have some work to do because we still have inventories that are higher than the 5-year average,” he told a briefing in Azerbaijan’s capital of Baku.


    Benetton's Edizione mulls stake increase in Generali: Sources

    Milan: Edizione, the holding company of Italian entrepreneur family Benetton, is considering increasing its stake in insurer Generali (GASI.MI) from its current level of about 2 percent, two sources close to the matter said on Monday.

    Italian financial daily Il Sole 24 Ore reported on Saturday that Edizione was considering raising its stake to as much as 5 percent, but that no final decision had been taken. Buying 3 percent of Generali would cost around 740 million euros (£648.42 million) at current market prices.


    EU justice chief to discuss data leak with Facebook, US government

    Brussels: EU Justice Commissioner Vera Jourova plans to discuss the alleged misuse of more than 50 million Facebook users’ data with the U.S. social network and with the U.S. government on her visit to the United States this week. 

    The New York Times and London’s Observer reported on Saturday that data analytics firm Cambridge Analytica gained inappropriate access to the data of more than 50 million Facebook users in developing techniques to support President Donald Trump’s 2016 election campaign. “From a European Union perspective, the misuse for political purposes of personal data belonging to Facebook users – if confirmed – is not acceptable,” the European Commission said in a statement.


    Britain plans greater powers for pensions watchdog

    London: Britain’s pensions regulator will be able to impose “punitive fines” on companies who put their pension schemes at risk, the UK government said on Monday. 

    The government will also make it a criminal offence to commit “wilful and grossly reckless behaviour in relation to a pension scheme”, it said in a so-called White Paper outlining government proposals for changes to the supervision of defined benefit, or final salary, pension schemes. Britain’s 2 trillion pounds in private sector defined benefit pension liabilities have come under the spotlight after the high-profile collapses of retailer BHS and, more recently, construction firm Carillion (CLLN.L), both of which had large pension deficits.


    Britain says $500 million from alleged fraud can be returned to Angola

    Luanda: Britain’s National Crime Agency said on Monday $500 million (356.71 million pounds) frozen in the UK as part of an ongoing investigation into a potential fraud against Angola’s central bank can be returned to the southern African country. 

    “The necessary authority has now been provided for the monies to be returned to the Angolan Authorities,” an emailed response to questions said.


    More than 200,000 people fled Syria's Afrin, have no shelter: Kurdish official

    Beirut: More than 200,000 people who fled a Turkey-led offensive on the Kurdish town of Afrin are without shelter or access to food and water in nearby areas, a Syrian Kurdish official from Afrin told Reuters on Monday. 

    “The people with cars are sleeping in the cars, the people without are sleeping under the trees with their children,” Hevi Mustafa, a top member of the Kurdish civil authority in the Afrin area, told Reuters by phone. Related Video Turkish forces backed by Syrian rebel groups swept into Afrin town on Sunday, raising their flag in the town centre and declaring full control after an eight-week campaign to drive out Kurdish YPG fighters. Mustafa said civilians still in Afrin town were facing threats from the Turkey-backed groups.


    Another Indigo flight grounded

    Jammu: Another Indigo flight grounded Jammu:  Another Indigo Airbus A320neo budget flight was grounded here on Monday by the aviation regulator, an official said. 

    "Three more planes of Indigo have been grounded in the last 24 hours," the official at the Jammu Airport said.   


    Turkish forces will not remain in Syria's Afrin, Turkey spokesman says

    Ankara: Turkish forces will not remain in Syria’s Afrin and will leave the region to its “real owners”, Ankara’s main spokesman said on Monday, after Turkey’s military and its Syrian rebel allies stormed the town over the weekend. 

    Bekir Bozdag, a deputy prime minister, also told reporters that Turkey had significantly reduced threats to its borders after capturing the town of Afrin. He said Turkey had collected “most” of the weapons given to Kurdish fighters by the United States, after the YPG left weapons behind as they fled the town.


    Prysmian signs 50 million euro contract with Terna for Italy power grid

    Milan: Prysmian (PRY.MI), the world’s biggest cable maker, said on Monday it had signed a 50 million euro (£43.8 million) contract with Terna (TRN.MI) to strengthen Italy’s power grid.

    The project will be executed over three years, the Milan-based cable maker said in a statement, adding it could be extended beyond its initial lifetime and increased in value. As part of its cooperation with the Italian power grid company, Prysmian is also building a high voltage direct current connection between France and Italy and an underwater cable between Capri and Sorrento in southern Italy.


    OPCW inspectors begin work on Salisbury nerve agent attack: Source

    Amsterdam: Inspectors from the Organisation for the Prohibition of Chemical Weapons (OPCW) have arrived in Britain to begin an investigation into the March 4 nerve agent attack in the English city of Salisbury, a source at the organization said on Monday. 

    Britain has asked the chemical weapons body based in The Hague to run independent tests on samples at its laboratories, said the diplomatic source, who spoke on condition of anonymity.


    Shanghai stock exchange OKs Didi Chuxing's $1.6 billion shelf offering

    The Shanghai Stock Exchange has approved a 10 billion yuan ($1.58 billion) shelf offering by Chinese ride-hailing firm Didi Chuxing, the company said on Monday. 

    The funds will be used for transport supply chain financing, allowing car leasing enterprises to procure new vehicles which will in turn expand capacity on Didi’s platform. The initial size of the offering will be 300 million yuan.


    ICRC calls for access to Syrian Kurds in Afrin

    Geneva: The International Committee of the Red Cross (ICRC) called on Monday for greater access to the civilian population of Afrin, declaring that the Turkish Red Crescent lacked credibility among the Syrian Kurds after Turkey’s military operation. 

    ICRC President Peter Maurer, speaking on return from a two-week trip to Syria, Iraq and Iran, told reporters in Geneva: “...the credibility of a Turkish Red Crescent working in Afrin with the Kurdish population is close to zero”. The ICRC is helping some of the thousands of displaced civilians who have fled Afrin to villages near Aleppo, but needs regular access to Afrin, where civilians have the right to neutral, impartial aid and the right to leave or stay, he said.


    Co-head of Goldman Sachs Germany to be become deputy German finmin

    Berlin: The co-head of Goldman Sachs in Germany, Joerg Kukies, will become deputy finance minister in the new German government, a spokesman for the finance ministry said on Monday. 

    Kukies will be responsible for financial market policy and Europe in his new role, the spokesman said.


    More than 6,000 people left Syria's eastern Ghouta on Monday: Interfax

    Moscow: More than 6,000 people have left Syria’s eastern Ghouta since Monday morning, Interfax news agency said, citing Russia’s Defense Ministry.


    EU to listen to Britain's Johnson over nerve agent: Mogherini

    Brussels: EU foreign policy chief Federica Mogherini said EU foreign ministers will listen on Monday to British Foreign Secretary Boris Johnson, who is due to address a meeting in Brussels on the nerve agent attack on a former Russian double agent. 

    “He will debrief the ministers, we will have a discussion and... I think, I expect you will hear from us together in the course of the morning with a joint position (on the issue),” Mogherini told reporters, referring to a common EU statement expected later on Monday. “I always expect unity,” she said of EU solidarity for Britain over the issue.


    WTO chief says US wants reform in trade body, has raised concerns

    New Delhi: The United States has raised concerns about the functioning of the World Trade Organisation and asked for reforms, WTO Director General Roberto Azevedo said on Monday.

    Azevedo, speaking to reporters, said the global trade environment was quite risky and the trade body had sought an “open and honest” conversation with its members, organized in New Delhi.“This is a moment we are facing many challenges inside and outside WTO,” Azevedo said.


    RBI sets rupee reference rate at 65.0375 against US dollar

    Mumbai: The Reserve Bank of India today fixed the reference rate of the rupee at 65.0375 against the US dollar and 79.7750 for the euro. The corresponding rates were 64.8737 and 79.9114, Mar 16.

    According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 90.5582 and 61.50 per 100 yens, respectively, based on reference rates for
    the dollar and cross-currency quotes at noon.


    EU will offer Britain solidarity on poisoning: Maas

    Brussels: The European Union will support Britain over a nerve agent attack on a Russian former double agent on British soil, Germany’s new foreign minister said on Monday.

    Asked if the EU would consider any punitive measures against Russia, Heiko Maas said the bloc would discuss the issue if Britain requests it.


    Ikea rival Home24 trims losses as it eyes listing

    Berlin: German online retailer Home24, which wants to challenge IKEA’s dominance of the European furniture market, accelerated sales and trimmed its losses in the fourth-quarter after sources reported it is considering a stock market listing. 

    Home24, in which ecommerce investor Rocket Internet (RKET.DE) holds a 43 percent stake, said quarterly sales rose 21 percent to 80 million euros ($98 million), while its gross profit margin rose 1 percentage point to 46 percent.


    Putin says 'nonsense' to think Russia would poison spy in Britain

    Moscow: Russian President Vladimir Putin said on Sunday it was nonsense to think that Moscow would have poisoned former Russian spy Sergei Skripal and his daughter, who are critically ill in a British hospital.

    “As for the tragedy that you mentioned, I found out about it from the media. The first thing that entered my head was that if it had been a military-grade nerve agent, the people would have died on the spot,” Putin told reporters. 


    Gambling Commission says fixed-odds top bet should be cut to 30 pounds

    UK’s Gambling Commission on Monday said the maximum stake for fixed odds betting terminals (FOBT) in British betting shops should be cut to 30 pounds ($41.78).

    The commission also recommended that the stake on gambling machines offering slots games, like traditional fruit machines, should be limited to two pounds ($2.79). Fixed odds betting terminals (FOTB), which allow players to bet on the outcome of various games, are an important source of income for high-street bookmakers.


    Finland's financial watchdog tightens mortgage loan cap

    Helsinki: Finland’s financial watchdog on Monday decided to tighten the loan cap for other than first home purchases, saying it was concerned over growing household debt in the Nordic country.

    The maximum loan-to-collateral ratio for loans other than first-home loans will be tightened by 5 percentage points to 85 percent in July. “Household indebtedness is the most significant vulnerability of the Finnish financial system,” the watchdog said. Finnish household debt to disposable income ratio reached 128 percent last year.


    French embassy says cooperating with Israel over smuggling investigation

    Jerusalem: The French embassy in Israel said on Monday it was cooperating with Israel on its arrest of a French consular staffer accused of using a diplomatic vehicle to smuggle guns between Palestinians in the Gaza Strip and the West Bank.

    “We take very seriously this case ... and we work very closely with the Israeli authorities on this matter,” said an embassy spokesman, who declined to comment further on the allegations against the staffer, a French citizen.


    Russia will remain a difficult partner for Europe: Maas

    Brussels: Russia will remain a difficult partner, Germany’s new foreign minister Heiko Maas, reacting to Vladimir Putin’s reelection victory on Sunday and questioning its fairness.

    Maas said the European Union must be able to continue to talk to Russia, despite a host of issues, he said.


    CBI court convicts Lalu, acquits Mishra

    Ranchi: A special CBI court here on Monday convicted RJD leader and former Bihar Chief Minister Lalu Prasad in the fourth fodder scam case but acquitted former Chief Minister Jagannath Mishra.


    Sherborne acquires voting rights over 5.16 percent in Barclays

    London: Barclays (BARC.L) said on Monday entities controlled by Sherborne (SIGC.L) had acquired voting rights over 5.16 percent of the British bank’s issued share capital.

    “As with all its shareholders, Barclays will continue to engage with Sherborne, and welcomes them as a shareholder,” Barclays said in a statement.


    More than 3,500 people left Syria's Eastern Ghouta on Monday - TASS

    Moscow: More than 3,500 people left Syria’s Eastern Ghouta region on Monday, the TASS news agency said citing Russia’s Defence Ministry. 


    White House lawyer says Trump is not considering firing Mueller

    Washington: White House lawyer Ty Cobb said on Sunday that President Donald Trump was not considering or discussing firing Special Counsel Robert Mueller.

    Cobb’s statement came after Trump earlier in the day criticized Mueller’s probe into Russian meddling in the 2016 presidential election. “In response to media speculation and related questions being posed to the administration, the White House yet again confirms that the President is not considering or discussing the firing of the Special Counsel, Robert Mueller,” said Cobb.


    China President Xi's key economic adviser Liu He nominated as a vice premier

    Beijing: Liu He, a key economic adviser of China’s President Xi Jinping, was nominated to be a vice premier.

    Yi Gang, a vice central bank governor, was nominated to become the head of the People’s Bank of China, while Liu Kun was nominated to be the new finance minister. The nominations were read out at the Great Hall of the People in Beijing on Monday during a parliamentary session, with journalists in attendance.


    Wheat futures soften 0.73% on higher supplies

    New Delhi:  Wheat prices eased by 0.75 per cent to Rs 1,775 per quintal in futures trade today as speculators reduced holdings, triggered by sufficient stocks position on higher supplies in the spot market.

    At the National Commodity and Derivatives Exchange, wheat for delivery in April declined by Rs 13, or 0.73 per cent, to Rs 1,775 per quintal with an open interest of 1,140 lots.


    No change in foodgrain prices

    Chennai: Prices of all commodities remained unchanged on the opening day 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. 


    Turkish embassy in Denmark attacked with petrol bombs, no injuries: police

    Copenhagen: At least two people attacked Turkey’s embassy in Copenhagen with petrol bombs early on Monday causing some minor damage to the exterior of the building but no injuries, police in the Danish capital said.

    The building was empty at the time.  Police were at the scene investigating and no one had been arrested, a police official told Reuters.


    HNA plans to sell $2.2 billion properties across China: Bloomberg

    Beijing: China’s HNA Group is planning to sell properties worth $2.2 billion including office buildings and hotels across China, Bloomberg reported on Monday, citing sources familiar with the matter.

    The sales plan is part of the embattled conglomerate’s latest string of asset disposals to repay its debts, according to Bloomberg.



Global Markets


twitter @BTVI