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Best Agrolife Ltd (BAL) on Friday announced the acquisition of a 100 per cent stake in Sudarshan Farm Chemicals India Pvt Ltd (SFCL) for Rs 139 crores. The acquisition will enable BAL to leverage SFCL's proficiency in developing cost-effective and distinctive manufacturing routes for off-patent molecules, it said. «This acquisition involves obtaining a 100 per cent stake through cash consideration, with an estimated enterprise value of Rs 139 crores based on the valuation,» the Delhi-based BAL said in a statement. The cash outflow for BAL will be to the tune of Rs 9.5 crore after considering the net working capital and liabilities, it said.

Emerging markets such as India, Middle East, and Africa are regions expected to drive the road to recovery in global smartphone shipment volumes in 2024, on the back of increasing shipments of budget phones with the premium segment remaining stable, according to a new report. A Counterpoint Research report released Thursday forecast a modest 3% on-year increase in shipments, reaching 1.2 billion units globally, driven by the budget ($150-$249) segment which saw a dip last year due to macroeconomic headwinds especially in emerging markets. The research firm, though, said it expects low single-digit growth in global smartphone shipments, as the market has seemingly bottomed out.

Russian missile and drone attacks hit thermal and hydro power plants in central and western Ukraine, power grid operator Ukrenergo said on Friday, the latest assault on the already damaged power infrastructure. «During the night, the Russians struck again at energy facilities in a massive and combined attack,» Ukrenergo said on the Telegram messaging app.

INDIA block is finally going to announce the seat sharing formula on Friday in Patna. Sources tell ET that as per the agreement, RJD will contest 26 seats, Congress will contest on nine seats and Left parties will contest on remaining five seats. Among Left parties, CPI (ML) will contest three seats and CPI and CPM will contest one seat each. However, meeting went on till late evening in Delhi between Congress and RJD over the specific Lok Sabha seat. Congress wants Purnia Lok Sabha seat for Pappu Yadav. But RJD has already fielded Bima Bharti from the seat. Congress has been given the Supaul seat. Sources tell ET that there is possibility that RJD can exchange Supaul giving Madhepura to Congress from where Pappu Yadav can fight the election. Pappu Yadav on the other hand is still adamant on Purnia seat. Congress will get Sasaram, Katihar, Patna Sahib, Bettiah, Valmiki Nagar, Maharajganj among others. Congress is also likely to get one seat between Muzaffarpur and Bhagalpur.

Delhi Chief Minister Arvind Kejriwal's wife Sunita launched a WhatsApp campaign on Friday, urging people to support her husband, who is in the ED's custody in an excise policy-linked money-laundering case. In a digital media briefing, Sunita Kejriwal said her husband has challenged the «most corrupt and dictatorial forces» in the country and asked people to support him through their blessings and prayers.

INDIA Bloc on Friday announced seat sharing in Bihar for the forthcoming Lok Sabha polls starting April 19, 2024. The RJD has been given 26 seats. Meanwhile, Congress and the left bloc received nine and five seats respectively. The INDIA bloc had called a joint press conference in RJD headquarters where Tejashwi Yadav, who is also the Leader of the Opposition in the Assembly, officially announced the number and the names of candidates for all 40 Lok Sabha seats.

Japan's Nikkei share average logged the biggest rise ever on an absolute basis for the fiscal year ended on Friday, rallying 12,328 points. The index hit successive record highs this quarter, after breaking levels on Feb. 22 that were last seen in 1989 during the nation's bubble economy.

Assam government has extended the Armed Forces (Special Powers) Act, 1958 in four districts for six months from April 1. The state government's political department issued a notification, stating that the 'Disturbed Area' tag under the AFSPA has been extended in areas covering Tinsukia, Dibrugarh, Charaideo and Sivasagar districts. The Assam Police had submitted a report, asserting that there was an improvement in the law and order situation in the state, barring one militant organisation being active in the four districts.

Mainland China stocks rose after the open on Friday, adding to the healthy gains recorded a day earlier. In early trade, the Shanghai Composite Index gained 0.27 percent, or 8.26 points, to 3,018.92, while the Shenzhen Composite Index on China's second exchange climbed 0.4 percent, or 6.90 points, to 1,739.50.

Arunachal Pradesh. There was trouble during the scrutiny of nomination papers. A senior police officer who does not want to be named told ET, “There was stone pelting by a group during the scrutiny of the nomination papers, security forces had to fire in the air to disperse the crowd. Superintendent of Police Dekio Gumja sustained injuries in the stone pelting.” The assembly elections in Arunachal Pradesh will be held in the first phase on April 19. Nominations ended on Wednesday.

Sebi) has cancelled the registration of Karvy Investor Services, as the merchant banker was found non- complaint with its rules. The regulator had conducted an inspection of Karvy Investor Services last year, during its onsite visit it found that it was not functioning both at the registered as well as in the correspondence address.

The index’s performance is also its second-best in the previous 10 years. Mid- and small-cap stocks were the top performers in the April-March period, while the financial year witnessed the resurgence of investment themes such as power, capital goods, and PSUs, which were mostly out of favour since 2008.

The decision by the government of Ontario will hit hardest at colleges that have been relying entirely on foreign enrollments to drive recent growth. Colleges Ontario, an industry group, said revenue losses will be in the hundreds of millions of dollars this fall. That will mean “immediate program suspensions” and a pause on capital spending, Marketa Evans, the group’s CEO, said in a statement. “No organization can absorb such losses without significant cuts to operations.”

Francis Scott Key Bridge in Maryland collapsed, Governor Wes Moore emphasised that the rebuilding of the bridge would not take days or weeks, adding that «we have a very long road ahead of us.» The Singapore-flagged vessel collided with one of the pillars of the Francis Scott Key Bridge in Maryland, leading to its collapse on Tuesday.

Reliance Industries (RIL) and Adani Power have signed a 20-year power purchase agreement for 500 MW, marking a rare, strategic collaboration between conglomerates led by two of the country’s wealthiest men. The Mukesh Ambani company will invest Rs 50 crore for a 26% stake in a 600MW unit of Mahan Energen’s thermal power plant. The latter is a wholly owned subsidiary of Gautam Adani-led Adani Power. Mahan Energen has agreed to allot 50 million equity shares of Rs 10 face value each to RIL at par, Reliance said in a regulatory filing. “The proposed investment by the company is in compliance with the provisions of the Electricity Rules, 2005,” it said. RIL did not disclose any specific purpose for signing the power purchase agreement.

Hyderabad: As K Chandrashekar Rao-led Bharat Rashtra Samithi (BRS) faces an unprecedented downslide following the arrest of Nizamabad MLC K Kavitha and continued exits from the party, the contest in Telangana is fast becoming a Congress versus BJP battle. In 2019 Lok Sabha polls, BRS had bagged nine Lok Sabha seats, BJP four and Congress three. All India Majlis-E-Ittehadul Muslimeen had retained Hyderabad. However, 2024 promises to be a different number game. As on date, more than half of BJP candidates in Telangana have BRS antecedents, with the bulk of them shifting loyalties this month only. The state's ruling party, Congress, is giving stiff competition to BJP as it has welcomed a slew of BRS MPs and MLAs into its fold in the run-up to the May 13 elections.

Aurobindo Pharma on Thursday said the deadline for negotiations between its arm CuraTeQ Biologics and Merck Sharp & Dohme Singapore for contract manufacturing operations for biologicals has been extended till May next year. Last year in October, CuraTeQ Biologics Pvt Ltd and Merck Sharp & Dohme Singapore Trading Pte Ltd and its affiliates (MSD) had signed a letter of intent (LoI) for contract manufacturing operations (CMO) for biologicals, whereby the parties intended to conclude the negotiations by March 31, 2024. «In this regard, we further inform you that said negotiations are yet to be concluded and the parties to the LoI have agreed to extend the timelines with the intention to conclude the said negotiations by May 31, 2024,» Aurobindo Pharma said in a regulatory filing. As per the LOI, CuraTeQ proposed to serve the US-based biopharmaceutical company through its contract manufacturing subsidiary, TheraNym Biologics Pvt Ltd.

gold and silver during 2024-25. As per the list, 11 banks, including HDFC Bank and ICICI Bank, have been authorised by the Reserve Bank of India to import gold and silver for 2024-25 with effect from April 1. The authorisation will be valid up to March 31 next year. «List of banks authorised to import gold/silver...has been updated,» the Directorate General of Foreign Trade (DGFT) said in a public notice.

Election Commission has rejected 71 of 155 nominations filed for eight Lok Sabha seats of Uttar Pradesh that will go to polls in the first phase of elections, Chief Electoral Officer Navdeep Rinwa said on Thursday. Saharanpur, Kairana, Muzaffarnagar, Bijnor, Nagina, Moradabad, Rampur, and Pilibhit will vote in the first phase on April 19. Thirteen candidates filed nominations from the Saharanpur Lok Sabha seat. During scrutiny of nomination papers, one nomination was rejected and the remaining 12 nomination papers were found valid, the officer said. Seventeen candidates filed nominations from the Kairana Lok Sabha seat. Two of these were rejected.

Benchmark NSE Nifty closed 203.25 points up at 22326.9 amid buying in frontline bluechip counters.