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<ul><li>The acquisition will include a total cement capacity of 9.4 million tonnes (along with a clinker capacity of 6.7 million tonnes and thermal power plants of 280 MW).</li><li>These plants are situated in Madhya Pradesh, Uttar Pradesh, and Chhattisgarh.</li><li>Jaiprakash Associates has been in the process of selling its cement assets in order to reduce its debt levels and repay lenders.</li></ul>Dalmia Bharat’s subsidiary Dalmia Cement on Monday said it plans to acquire the cement, clinker and power plants of Jaiprakash Associates for a total enterprise value of ₹5,666 crore, as it looks to expand its domestic presence. This deal is part of Jaiprakash Associates’ efforts to pay off its lenders by selling its assets. The acquisition will include a total cement capacity of 9.4 million tonnes (along with a clinker capacity of 6.7 million tonnes and thermal power plants of 280 MW). These plants are situated in Madhya Pradesh, Uttar Pradesh, and Chhattisgarh. With this, Dalmia Bharat will expand its footprint into the central region and will help it move closer to its goal of becoming a pan-India cement company with a capacity of 75 million tonnes by FY27 and 110‐130 million tonnes by FY31. Jaiprakash Associates has been in the process of selling its cement assets in order to reduce its debt levels and repay lenders. Between 2014 and 2017, the company sold cement capacity of 20 million tonnes per annum (MTPA) to UltraTech Cement. “Jaiprakash Associates ltd. (JAL), the flagship company has been taking steps to reduce its debt and repay to lenders and meet its commitments on pro active basis. In this regard, JAL had divested more than 20 MTPA cement capacity in favour of Ms. UltraTech Cement Limited during 2014 and 2017, while selling its controlling stake of more than 2 MTPA cement capacity to Dalmia Group in 2015,” said Jaiprakash Associates in a BSE Statement. According to several media reports, Adani Group and Aditya Birla Group both were in the fray to acquire the assets. “In order to repay the loans of lenders and concentrate in its other core areas of working, JAL has decided to divest from (the) cement business completely. With the sale of cement capacity of 9.4 MTPA in favour of Dalmia Cement (Bharat) ltd. (DCBL), we hope and pray having demonstrated its creditable working, JAL will further 'cement' its credentials of being a trustworthy organisation in (the) infrastructure segment of the country in times to come" said Jaiprakash Associates in a Statement. In May this year, the billionaire Gautam Adani paid as much as $10.5 billion to buy <a href="https://www.businessinsider.in/business/corporates/news/both-ambuja-cements-and-acc-are-bet-worth-investing-with-strong-parent-adani/articleshow/91690100.cms#:~:text=Both%20Ambuja%20Cements%20and%20ACC%20are%20bet%20worth%20investing%20with%20strong%20parent%20Adani,-Advertisement&amp;text=The%20cement%20industry%20saw%20the,%E2%80%94%20from%20Switzerland%2Dbased%20Holcim%20.">Ambuja Cements and ACC </a>from Switzerland-based Holcim. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/sula-vineyards-ipo-10-things-to-know-before-you-subscribe-to-it/slidelist/96163082.cms">Sula Vineyards IPO: 10 things to know before you subscribe to it</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/best-and-worst-performing-ipos-of-2022-in-india/articleshow/96160391.cms">Best and worst performing IPOs of 2022</a>

Dalmia Bharat to acquire cement, power plants of Jaiprakash Associates for ₹5,666 crore enterprise value

New Delhi, Mar 21 () Cement maker Dalmia Bharat Ltd on Saturday said its board has approved a proposal to buy back shares worth up to Rs 500 crore.The company further said it intends to buy not more than 71,42,857 shares at a maximum price of Rs 700 per unit.The shares will be bought back from the open market by using the electronic trading facilities of National Stock Exchange of India Limited and BSE Limited, the company said in a statement."The Board of Directors, at its meeting held on March 21, 2020, has approved buyback of the company's fully paid-up equity shares having a face value of Rs 2 each for an aggregate amount not exceeding Rs 500,00,00,000 excluding buyback tax, brokerage, costs, fees, turnover charges, taxes such as securities transaction tax, goods and services tax (if any) and income tax, stamp duty, advisors fees, filing fees and other incidental," it said.Dalmia Bharat Ltd currently has a cement manufacturing capacity of 26.5 million tonne per annum. The company's 12 cement manufacturing units are spread across nine states. The company also the lowest carbon footprint in the cement world, globally.On Friday, Dalmia Bharat shares closed 5.06 per cent up at Rs 511.10 apiece on the BSE. ABI MKJ

Dalmia Bharat board approves Rs 500-cr share buyback proposal

New Delhi, With 30,006 new coronavirus infections and 442 deaths in the past 24 hours, India's overall tally stood at 98,26,775 on Saturday, while the death toll touched 1,42,628, <keyword id="4585792" type="COMPANY" weightage="20" keywordseo="the-ministry-of-health-and-family-welfare">the Ministry of Health and Family Welfare</keyword> said. Till now, 93,24,328 have recovered, and over 33,494 in the last 24 hours. Currently, there are 3,59,819 active cases. The recovery rate stands at 94.89%, and the fatality rate is 1.45%. A total of 15,26,97,399 samples have been tested for <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">Covid-19</keyword> till now. Of these, 10,65,176 samples were tested on Friday, <keyword id="1256547" type="COMPANY" weightage="20" keywordseo="The-Indian-Council-of-Medical-Research">the Indian Council of Medical Research</keyword> (ICMR) said. Maharashtra continues to be the worst-hit state with 18,72,440 cases to date. Over 72% of the daily new cases were reported by 10 states and UT -- Kerala, Maharashtra, West Bengal, Uttar Pradesh, Rajasthan, Delhi, Chhattisgarh, Madhya Pradesh, Gujarat, and Haryana. As many as eight <keyword id="9612388" type="UNKNOWN" weightage="20" keywordseo="covid-19-vaccine-candidates">Covid-19 vaccine candidates</keyword> are under different stages of clinical trials which could be ready for authorization in near future, including three indigenous vaccines. It includes <keyword id="6409874" type="DOMAIN" weightage="20" keywordseo="astrazeneca">Astrazeneca</keyword> and Oxford university developed and Serum Institute of India manufactured Covishield, Covaxin by <keyword id="7330627" type="COMPANY" weightage="20" keywordseo="Bharat-Biotech-Limited">Bharat Biotech Limited</keyword>, ZyCoV-D by Zydus Cadila, Russian vaccine candidate Sputnik-V, NVX-CoV2373 by SII, HGCO19 by Geneva, and two unlabeled vaccines-Recombinant Protein Antigen based vaccine by Biological E Limited-and Inactivated rabies vector platform by Bharat Biotech. SEE ALSO: <a href="https://www.businessinsider.in/science/environment/news/carbon-emissions-in-india-show-third-highest-drop-after-us-and-europe-in-2020-thanks-to-covid-19-lockdowns/articleshow/79673023.cms">Carbon emissions in India show third-highest drop after US and Europe in 2020 — thanks to COVID-19 lockdowns</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-hdfc-bank-tcs-tvs-motor-dalmia-bharat-ultratech-acc-ambuja-and-others/articleshow/79672813.cms">Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphones-of-2020-in-india/slidelist/79675101.cms">Best smartphones of 2020 in India</a>

With over 30,000 new cases, India's COVID-19 tally crosses 9.8 million

In a new announcement, Dalmia Bharat declared a 4-month accelerator designed to mentor and invest in promising startups which are focused on smart city ideas. 
 A joint initiative between DLabs at ISB and Centre for <keyword id="107737" type="ORGANIZATION" weightage="20" keywordseo="Entrepreneurship">Entrepreneurship</keyword> at Ashoka University, the Dalmia Bharat AIM Smart City Accelerator Program is supported by <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> India, with focus on four broad verticals: healthcare, education, transportation and infrastructure. 

	"India ranks third in the global startup ecosystem and through this program, we want to sensitize young entrepreneurs on how to best utilize this startup boom for smart city development," says BK Singh, Senior Executive Director at Dalmia Bharat Group. 
 

	ISB and Ashoka University will provide access to some of its finest academic and industry networks, which will provide mentorship to the startups. Holostik Group will also support the accelerator through its mentor network and access to funding.
 Microsoft will support this through its BizSpark program and the recently announced special initiative for Indian technology startups for smart cities. "This program will help entrepreneurs leverage Microsoft technology to develop innovative solutions that can support cities to become smart, sustainable and future-ready," says <keyword id="1574462" type="UNKNOWN" weightage="20" keywordseo="Narendra-Bhandari">Narendra Bhandari</keyword>, General Manager - Developer Experience at Microsoft India. 

	Applications for this program will be shortlisted by mid-March on the basis of financial viability, technology feasibility, desirability to target audience, sustainability of the solution and track record of the team. An investment support of up to Rs 10 lakh will be provided to each team selected. 
 <keyword id="2623101" type="UNKNOWN" weightage="20" keywordseo="Dalmia-Bharat-Limited">Dalmia Bharat Limited</keyword> (DBL) has been a pioneer in cement manufacturing for over seven decades now. The Group's current capacity of 25 million tonnes is one of the largest in the Indian cement industry. 
	 
	(Image credits: BCCL)

Dalmia Bharat announces smart city accelerator for startups

Public sector steel giant Steel Authority of India Limited (<keyword id="6357529" type="CITY" weightage="20" keywordseo="SAIL">SAIL</keyword>) has sold its stakes in its joint venture, Bokaro Jaypee Cement Limited, with <keyword id="45043" type="COMPANY" weightage="20" keywordseo="Jaypee-Group">Jaypee Group</keyword>’s flagship company Jaiprakash Associates Limited. The company informed the National Stock Exchange in a letter. 
 
“… the Company has…sold its entire 26% equity shareholding of 347,49,000 equity shares of Rs. 10 each in M/s Bokaro Jaypee Cement Limited, a Joint venture Comany of SAIL and M/s Jaiprakash Associates limited,” the company disclosed in its filings. 
 
It further added, “The Company has sold its stake to Shri Rangam Securities &amp; Holdings Limited (SRSHL) at Rs. 67.50 per equity share.” The stake sale happened on November 28, 2014. 
 It should be noted that SAIL has sold its stake for Rs 234.56 crore to SRSHL, an indirectly wholly owned subisidiary of Dalmia Cement (Bharat) Limited. Dalmia Cement Bharat Limited is a subsidiary of <keyword id="2623101" type="UNKNOWN" weightage="20" keywordseo="Dalmia-Bharat-Limited">Dalmia Bharat Limited</keyword>. 
 
Interestingly, last week, Jaiprakash Associates too have sold its 74% equity shareholding to SRSHL.

SAIL Sells Stake In Joint Venture Bokaro Jaypee To SRSHL

Both <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="19896381" type="General" weightage="100" keywordseo="Nifty" source="keywords">Nifty</keyword> were off to a flat start today, with Nifty trading at 23,431.40 points, down 0.30% as of 9:58 am. As for Sensex, the index was trading at 76,986.21 points, down by 0.29%, as of 9:59 am. All major sectoral indices opened the day in red except for Nifty FMCG and consumer durables, whereas India VIX, seen as a measure of volatility in the market, was up by 3.90%. Nifty PSU banks opened the day in red, down by 1.26%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch out for" comment="subhead" text="Stocks to watch out for">Stocks to watch out for</cmsannotation> <keyword id="19898109" type="General" weightage="20" keywordseo="paytm" source="keywords">Paytm</keyword> (<keyword id="181441" type="General" weightage="20" keywordseo="One97-communications" source="Orion">One97 Communications</keyword> Ltd) informed NSE of its recent partnership with leading global travel meta platforms like Skyscanner, Google Flights, and Wego. The platform also saw an increase in its market share in Q4. Passengers who flew via Paytm grew at 19%, as opposed to the industry average of 3%. During early morning trade, the stock was trading at Rs 407.15, down by 0.91%. MAS Financial Services Limited announced raising about Rs 500 crore via qualified institutional placement (QIP). The stock was trading at Rs 315.65, up by 1.23%. According to Mr. Aditya Gaggar, Director of Progressive Shares, "an early indication from GIFT Nifty suggests a tepid opening of the <keyword id="20014814" type="General" weightage="20" keywordseo="Indian-equities" source="keywords">Indian equities</keyword> and the index will oscillate in a well-maintained range of 23,400-23,660. A clear breakout on either sides will provide a precise picture, until then we will remain status quo." "The <keyword id="19979339" type="General" weightage="20" keywordseo="Auto-sector" source="keywords">Auto sector</keyword> has formed a bearish engulfing pattern at record levels depicting a continuation of the corrective move. For the past couple of weeks, <keyword id="19964206" type="General" weightage="20" keywordseo="Sugar-stocks" source="keywords">sugar stocks</keyword> have been seen strengthening their move upwards and we are positive on Andhra Sugar, Balrampur Chini, and Dalmia Bharat Sugar. A bullish Flag and Pole formation breakout was witnessed in the IT space. From the mid and smallcap segments, some stocks have delivered strong breakouts namely Asahi India Glass, Ramky Infra, BEPL and GHCL, IGPL, S P Apparels Ltd", he continued. Shrikant Chouhan, Head Equity Research, Kotak Securities advises staying within a defined range while trading during the day. "We expect weak sentiment as long as the market is trading below 23,700/77,800, and anticipate a retest of 23,400/76,700 levels. Further downside may continue, possibly dragging the market towards 23,200/76,100. The prudent strategy would be to buy between 23,000 and 23,200 levels with a stop loss at 23,000 on a closing basis. Keep reducing positions if indices move towards 23,600/23,700 levels". As per Progressive Shares, stocks of S P Apparels with a target price of Rs 800-920, for a horizon of 6-9 months can be a viable investment. Additionally, the brokers also recommend investing in Asahi India Glass Ltd with a target price between Rs 786-894, for a period of 3-6 months.

Market Morning: Except for FMCG, consumer durables, sectoral indices open in red

The Adani effect: Ambuja Cements rallies 40% in one month – analysts suggest good days ahead for the cement industry

<ul><li>The SGX Nifty was trading 0.24% lower at 7:32 am, indicating a subdued start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Despite positive cues from the western markets, the Indian equities may open on a cautious note on Friday. The SGX Nifty was trading 0.24% lower at 7:32 am, indicating a subdued start for Nifty50. The US stock markets soared on Thursday, led by a rally in tech and healthcare stocks, as the <a href="https://www.businessinsider.in/stock-market/news/dow-climbs-370-points-as-likely-divided-government-extends-healthcare-and-tech-rallies/articleshow/79065261.cms">dwindling prospects of a Democratic sweep</a> lifted sectors prone to regulation. The Dow Jones Industrial Average closed 542 points higher, and the S&amp;P 500 gained 1.9%. These are the stocks to watch out for during the trading session on November 6: Reliance Industries Limited (RIL) Mukesh Ambani-owned Reliance Industries (RIL) garnered over ₹9,555 crore from <a href="https://www.businessinsider.in/business/news/mukesh-ambani-cashes-in-yet-another-cheque-from-pif-saudi-arabia-sovereign-fund-to-invest-1-3-billion-in-reliance-retail/articleshow/79061345.cms">Saudi Arabia Public Investment Fund</a> for a 2.04% stake in Reliance Retail Ventures. The shares of RIL ended 2.28% higher on Thursday. <keyword id="45417" type="COMPANY" weightage="20" keywordseo="Adani-Power">Adani Power</keyword> Adani Power posted a good quarter. Its consolidated net profit surged manifold to ₹2,228.05 crore in the quarter ended September 30, mainly on account of improved income. The company had clocked a net profit of Rs 3.88 crore in the year-ago period. The shares of Adani Power ended 0.41% higher on Thursday. <keyword id="2834858" type="COMPANY" weightage="20" keywordseo="Minda-Corp">Minda Corp</keyword> Minda Corp will allot 1.19 crore shares on a preferential basis to PHI Capital Trust. The shares will be allotted at a price of ₹70 a piece, aggregating up to ₹83 crore. The shares of Minda Corp ended 6% higher on Thursday. <keyword id="105311" type="COMPANY" weightage="20" keywordseo="INOX-Leisure">Inox Leisure</keyword> The board of cinema hall giant Inox Leisure approved raising up to ₹250 crore via equity or other securities. The shares of Inox Leisure ended 4.5% higher on Thursday. Dalmia Bharat Cement maker Dalmia Bharat reported an over six-fold increase in its consolidated net profit at ₹232 crore for the second quarter ended September 2020, helped by higher sales volume. Its revenue from operations was up 7.78% at ₹2,410 crore during the quarter under review. The shares of Dalmia Bharat ended 6% higher on Thursday. <keyword id="82073" type="COMPANY" weightage="20" keywordseo="Berger-Paints">Berger Paints</keyword> Berger Paints India reported an increase of 13.55% in its consolidated net profit to ₹221.05 crore for the second quarter ended September 2020. Its revenue from operations was up 9% at ₹1,742.55 crore during the quarter under review. The shares of Berger Paints ended 2% higher on Thursday. Birla Corporation Birla Corporation reported an increase of 87% in its profit at ₹166.62 crore in the second quarter ended September 30. The company said that good performance had been due to cost rationalisation and recovery in demand in key markets. The shares of Birla Corporation ended 0.73% higher on Thursday. <keyword id="6357073" type="UNKNOWN" weightage="20" keywordseo="ITC">ITC</keyword>, <keyword id="6357157" type="UNKNOWN" weightage="20" keywordseo="cipla">Cipla</keyword>, Ashok Leyland, BHEL, Tata Consumer and Aditya Birla Fashion ITC, Cipla, Ashok Leyland, BHEL, Tata Consumer and Aditya Birla Fashion are slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/heres-when-you-can-expect-more-data-from-each-state-in-the-next-few-hours/articleshow/79065787.cms" data-type="tilCustomLink">Here's when you can expect more data from each state in the next few hours</a> <a href="https://www.businessinsider.in/india/news/china-bans-entry-of-foreign-nationals-from-india-citing-spike-in-covid-19-cases/articleshow/79062691.cms" data-type="tilCustomLink">China bans entry of foreign nationals from India citing spike in COVID-19 cases</a>

Top stocks to watch — RIL, ITC, Cipla, Adani Power, Inox Leisure, Berger Paints, Minda Corp, and others

New Delhi, The <keyword id="4625508" type="PERSON" weightage="20" keywordseo="first-action">first action</keyword> has been taken in Madhya Pradesh under the <keyword id="10421380" type="UNKNOWN" weightage="20" keywordseo="new-contract-farming-law">new Contract Farming law</keyword> introduced by the Narendra Modi government. A company had stopped procurement after the price rise, but after the action was taken the same company has agreed to purchase the produce of <keyword id="45092" type="COMPANY" weightage="20" keywordseo="farmers">farmers</keyword>. <keyword id="10421379" type="COMPANY" weightage="20" keywordseo="the-agriculture-department-of-madhya-pradesh">The Agriculture Department of Madhya Pradesh</keyword> has taken action under the 'Farmers (Empowerment and Protection) <keyword id="10421378" type="UNKNOWN" weightage="20" keywordseo="contract-price-assurance">Contract Price Assurance</keyword> and Agricultural Services Act 2020' after a complaint was received. In June 2020, Delhi-based Fortune Rice Limited company signed an agreement to purchase paddy at the highest price in the mandi from farmers of other villages including Bhaukhedi in Pipariya tehsil of Hoshangabad district. The company initially procured paddy as per the contract. But, on December 9, the company stopped the purchase and also stopped taking calls after the paddy price touched ₹3,000 per quintal. On December 10, Bhaukhedi farmers Pushpraj Patel and Brajesh Patel complained to the Pipariya SDM. The district administration sought guidance from the Agriculture Department on the complaint. The Department advised them to take action under Section 14 of the Contract Farming Act and pass orders against the trader if he did not agree to continue the procurement. The SDM court of Pipariya summoned the authorized representative of Fortune Rice Limited for a reply within 24 hours. Ajay Bhalotia, director of Fortune Rice Limited, responded to the summons. Article 'a' was added to the "Farmers (Empowerment and Protection) Contract Price Assurance and Agricultural Services Act 2020" section 14(2) and a Board was set up which included the Tehsildar and farmers' representatives. Before the Board, the company accepted the purchase of paddy at the highest rate as per the contract before December 9 and accepted that it stopped the procurement after the price rise. After consultations with the Board, the company agreed to purchase the paddy at a price of ₹2,950 per quintal along with a ₹50 bonus, making it a total of ₹3,000. Officials say that through the new Farmers Act, the highest price as per the contract could be provided to the farmers within 24 hours of receiving the complaint. With this decision, the farmers will be able to sell their produce to the company as per the contract. There will be no compromise on their interests. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-hdfc-bank-tcs-tvs-motor-dalmia-bharat-ultratech-acc-ambuja-and-others/articleshow/79672813.cms">Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphones-of-2020-in-india/slidelist/79675101.cms">Best smartphones of 2020 in India</a> <a href="https://www.businessinsider.in/india/news/reports-suggest-that-tata-adani-and-hinduja-group-are-interested-in-air-india-divestment-plan/articleshow/79675955.cms">Last date for Air India divestment plan nears — reports suggest that Tata, Adani and Hinduja Group are interested</a>

New farm law brings justice for farmers in 24 hours

New York, Researchers, including one of Indian-origin have revealed that the majority of <keyword id="28944" type="PERSON" weightage="20" keywordseo="Pregnant-women">pregnant women</keyword>, who tested positive for <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">Covid-19</keyword> on arrival to the delivery room were asymptomatic. In a retrospective cross-sectional study of universal screenings for SARS-Cov-2, the virus that causes Covid-19 implemented in the labor and delivery unit of Elmhurst hospital at Queens, New York, during March and April, the researchers found that more than one-third of nearly 130 pregnant women tested positive for the coronavirus. According to the study published in the journal 'PLOS One', this is a much higher proportion than reported at other hospitals in <keyword id="72226" type="LOCATION" weightage="20" keywordseo="New-York-City">New York City</keyword> during the pandemic surge, and are likely related to social inequities experienced by the surrounding population. The majority or 72% of the <keyword id="6503086" type="UNKNOWN" weightage="20" keywordseo="pregnant-patients">pregnant patients</keyword> who tested positive were asymptomatic, meaning they did not display any symptoms associated with Covid-19. These findings add to the evidence that there was an early and rampant asymptomatic spread of the disease at a time when most of the community and hospital testing was limited to symptomatic individuals. "This study is instructive for other labor and delivery units, and hospitals across the world as we continue to refine pandemic preparedness," said study author Dr. Sheela Maru from the Mount Sinai hospital in the US. "In future epidemics, it may be prudent to look at labor and delivery screening numbers much earlier on, as pregnant women continue to seek essential care despite social-distancing measures and also represent the generally young and healthy community population," Dr Maru added. Dr Maru said universal screening in the labour and delivery unit ensured the safety of patients and staff during an acute surge in Covid-19 infections through appropriate identification and isolation of pregnant women with positive test results. In addition to their <keyword id="6356030" type="UNKNOWN" weightage="20" keywordseo="status">status</keyword> for Covid-19, the study reviewed patients' demographic data, including age, ethnicity, primary language, zip code, marital status, health insurance status, and clinical data, including the mode of delivery, length of stay, and comorbidities such as chronic hypertension, preeclampsia, pre-pregnancy obesity, asthma, diabetes, depression, and anxiety. Earlier, a study published in the journal 'JAMA Network Open' revealed that 95% of women who tested positive for Covid-19 during pregnancy had no adverse outcomes. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-hdfc-bank-tcs-tvs-motor-dalmia-bharat-ultratech-acc-ambuja-and-others/articleshow/79672813.cms">Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphones-of-2020-in-india/slidelist/79675101.cms">Best smartphones of 2020 in India</a> <a href="https://www.businessinsider.in/india/news/reports-suggest-that-tata-adani-and-hinduja-group-are-interested-in-air-india-divestment-plan/articleshow/79675955.cms">Last date for Air India divestment plan nears — reports suggest that Tata, Adani and Hinduja Group are interested</a>

Study revealed that many COVID-19 positive pregnant women are asymptomatic

<keyword id="6354968" type="LOCATION" weightage="20" keywordseo="london">London</keyword>, <keyword id="2573" type="COMPANY" weightage="20" keywordseo="Air-India">Air India</keyword> has got some reprieve from a <keyword id="6475294" type="UNKNOWN" weightage="20" keywordseo="UK-court">UK court</keyword> as it allowed India's flag carrier time until early January to make payments in a case of <keyword id="93695" type="PERSON" weightage="20" keywordseo="unpaid-dues">unpaid dues</keyword> of over USD 17.6 million, with the judge accepting the "broad thrust" of the airline's financial difficulties, especially due to the grounding of flights during the COVID-19 lockdown. Judge Simon Salzedo, however, issued a strong rebuke to Air India for its "unsatisfactory and discourteous" conduct in relation to the case by not engaging with the process in a timely manner. The hearing, held remotely at the <keyword id="190571" type="COMPANY" weightage="20" keywordseo="Commercial-Court">Commercial Court</keyword> division here on Friday, involved unpaid dues of over USD 17.6 million to China Aircraft Leasing Company Limited (CALC) as part of an aircraft lease agreement for rent and maintenance. "I accept the broad thrust of Air India's submission of the financial difficulties it has been facing along with the rest of the aviation sector and also note that it has been making some payments to the lessors," the judge noted, as he granted Air India until January 11, 2021, to clear the overdue payments. However, that extension is conditional on the airline paying in the already committed amount for the month of December, amounting to a total of USD 5 million. The counsel for CALC, a <keyword id="1368497" type="PERSON" weightage="20" keywordseo="global-aircraft">global aircraft</keyword> leasing company, had sought immediate payment and argued that Air India being a state-owned airline can always seek funds from the Indian government and is only seeking to delay matters for its client, who has been waiting for nearly a year for the payments. Air India, on the other hand, argued that it does not dispute that the claimant is entitled to payments for leased aircraft, but as a result of severe constraints on the airline industry, most of its aircraft have remained grounded. The airline claimed that while it had managed to strike rent reduction and payment plans with other lessors, talks with CALC had been unproductive. It urged the court for time until January 29 for the payments in order to avoid disruptions to its UK and Europe operations, especially over the Christmas and New Year holiday period, which would go on to further "hinder" its ability to pay. The judge struck a compromise and has given Air India until January 11 to clear the sums outstanding. The Indian state-owned carrier has been seeking a buyer for some time now as the government wants to divest its 100% stake in Air India and budget carrier AI Express. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-hdfc-bank-tcs-tvs-motor-dalmia-bharat-ultratech-acc-ambuja-and-others/articleshow/79672813.cms">Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphones-of-2020-in-india/slidelist/79675101.cms">Best smartphones of 2020 in India</a> <a href="https://www.businessinsider.in/india/news/reports-suggest-that-tata-adani-and-hinduja-group-are-interested-in-air-india-divestment-plan/articleshow/79675955.cms">Last date for Air India divestment plan nears — reports suggest that Tata, Adani and Hinduja Group are interested</a>

Air India gets reprieve in UK court over aircraft lease payments

Major Indices are likely to remain muted today as traders refrain from taking fresh long positions ahead of the weekend and against the backdrop of the Greece-EU debt crisis continuing. The <keyword id="6354813" type="COMPANY" weightage="80" keywordseo="nifty">Nifty</keyword> is likely to remain in a sideways zone until fresh buying emerges on blue chips. Overseas cues from Wall Street and Asian markets are muted as well. 
 Nifty futures <keyword id="6368158" type="ORGANIZATION" weightage="80" keywordseo="trading">trading</keyword> in Singapore also indicate a flat start for Friday. 
 
Meanwhile, Foreign investors purchased 575 crore rupees worth of domestic shares in the cash market on Thursday. This is seen as a positive for the market. Private sector banks were the most likely targets of such purchases, delivery data shows. 
 
The market remains on tenterhooks ahead of Sunday's referendum on Greece. Global financial markets are likely to see major volatility if the debt-riddled nation exits the European Union. The Nifty is likely to see a 100-150 point downside if the Greek vote is against more austerity. That fall on the Index should be seen as a buying opportunity. 
 
Stocks to watch: 
 
BHARTI AIRTEL: The mobile services provider is likely to remain in an uptrend after it sold wireless towers in 5 African countries for $1.3 billion. The New Delhi-based company is already trading at 52 week highs on the Nifty. Bharti is in the process of divesting its tower assets in 13 African nations. 
 
LUPIN: Buys Russian pharma company Biocom. The Russian market is among the top 10 pharma spaces globally and Lupin says the purchase is of strategic importance to the Indian pharma giant. 
 
KOTAK MAHINDRA BANK: The Foreign Investment Promotion Board may take a decision today on the bank's application to raise its foreign holding limit to 55 percent from 49 percent. Kotak is already trading at record highs ahead of its bonus adjustment. 
 
NESTLE: Canadian Food Inspection Agency finds no health risk in Nestle's Maggi noodles. This is another positive for the FMCG giant that has been roiled by a global controversy. 
 
RAJESH EXPORTS: Gold ornament exporter is in talks to purchase a firm in Europe at the cost of up to $500 million. 
 
DALMIA CEMENT BHARAT: The cement giant to sell its products in Maharashtra. 
 
BIRLA CORP: Mid-sized cement major to raise its capacity to 15 million tons. 
 
(Image credit: Indiatimes)

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