Here are the top stories this evening:
Race for Holcim India Assets: Final decision soon, Adani Group likely frontrunner
The board of Holcim Ltd, the world’s largest cement maker, is likely to soon take a final call on the sale of its India business, in a mega transaction which would mark one of the biggest exits by an MNC in India, multiple sources familiar with ongoing developments told Moneycontrol.
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India wins maiden Thomas Cup title, beats Indonesia 3-0 in finals
India created history on May 15, by winning the iconic badminton championship Thomas Cup against Indonesia. It won three straight matches, two men’s singles and a men’s doubles match to seal the championship. With this win, India has become the sixth country to win the title.
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Centre relaxes procurement norms for shrivelled, broken wheat grains upto 18%
The Union government on May 15 relaxed procurement norms for shrivelled, broken wheat grains up to 18 percent without any value cut, with an aim to avoid distress sale of wheat and reduce the hardship of farmers.
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Govt extends wheat procurement season; asks states, UTs to continue till May 31
The Union government on May 15 asked wheat producing states and union territories (UTs) with procurement closing dates expiring early to continue procurement till May 31, 2022. Apart from this, the government also directed the Food Corporation of India (FCI) to continue with wheat procurement under the central pool.
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Primary Market Action | Grand LIC listing, 3 IPO launches next week
The primary market will be buzzing in the coming week due to multiple IPO launches and a mega listing, though too much volatility in the secondary market amid global growth concerns and inflation worries after the Ukraine war seem to have impacted grey market premiums of each one.
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Reliance to acquire dozens of brands in $6.5 billion consumer goods play: Report
India's biggest retailer Reliance will acquire dozens of small grocery and non-food brands as it targets building its own $6.5 billion consumer goods business to challenge foreign giants like Unilever, two sources familiar with the plan told Reuters.
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UAE telecoms group buys 9.8% stake in Vodafone for $4.4 billion
United Arab Emirates-based telecoms company e& (ETISALAT.AD) has bought a 9.8% stake in Vodafone for $4.4 billion, days after saying it was looking to expand into new markets and related areas such as financial technology.
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Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.