Bharti Airtel to buy Tikona's 4G business for $244 million
Telecommunications company Bharti Airtel said it would buy internet services provider Tikona Digital Networks' 4G business in a deal worth 16 billion rupees ($244.20 million).
Reuters Market Eye - Shares in UltraTech Cement(ULTC.NS) fell 2 percent after the cement maker reported a 3 percent fall in October-December net profit at 6 billion rupees on Saturday.
UltraTech continues to struggle with capacity utilization and no volume growth, Kotak Securities said in a note, even as market consensus is for higher volumes growth from expanded capacities in the sector by fiscal 2014.
Other cement players fall: ACC Ltd (ACC.NS) declines 1.35 percent, Ambuja Cements Ltd (ABUJ.NS) retreats 2 percent.
Cement makers have been hit by concerns about rising operating costs as the government last week said bulk buyers would pay market rates for diesel.
(Reporting by Manoj Dharra)
WASHINGTON Jay Clayton, the Wall Street attorney tapped by President Donald Trump to lead the U.S. Securities and Exchange Commission, on Thursday defended himself against Democrats' charges that multiple conflicts of interest would force him to miss too many SEC votes.
BOAO, China India's top software services exporter Tata Consultancy Services will step up local hiring in the United States and has no plans to cut investments there as it continues to expect robust growth from its biggest overseas market.