Buzz on UB deal
New Delhi, Nov. 8: Vijay-Mallya led UB Group is understood to have reached a deal with the world’s largest spirit maker Diageo for a stake sale in United Spirits. According to sources, the deal will be announced tomorrow. However, the exact details such as the quantum of stake and valuation could not be ascertained.
New Delhi, Nov. 8: Finance minister P. Chidambaram today announced the setting up of two committees to sort out issues hampering the implementation of the Goods and Services Tax (GST). One committee will look into the central sales tax compensation, while the other will deliberate on the framework of the new tax regime.
ONGC net dips
New Delhi, Nov. 8: State-owned Oil and Natural Gas Corp (ONGC) today reported a 32 per cent drop in profit to Rs 5,897 crore from Rs 8,642 crore a year earlier.
New Delhi, Nov. 8: Sun Pharma has inked a pact to acquire US-based DUSA Pharmaceuticals for around $230 million (around Rs 1,250 crore).