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Nov 26 2020 . ISSUE 16
THE DAILY NEWSLETTER

Good morning.😊 These are tough days. As cyclone 'Nivar' reaches the Southern Coast, it's time to stick together for humanity! We will survive!


The four most dangerous words in investing are: “This time it’s different”.


- Sir John Templeton


GAINERS & LOSERS

CRUDE OIL

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+ 76.00

GOLD

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NIFTY

12,858.40

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SENSEX

43,828.10

− 694.92

HOT STOCKS IN NEWS

L&T wins Rs 3,000 crore order to construct India's longest river bridge.

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Siemens Q2 results: Net profit down 5% at Rs 333 cr.

DAILY FLICKS
Govt approves merger of Lakshmi Vilas Bank with DBIL
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Cash strapped and neck deep in debt, things were looking bleak for Lakshmi Vilas Bank. 


A Sign of Hope 


The government has approved merger of crisis-ridden Lakshmi Vilas Bank (LVB) with DBS Bank India Ltd (DBIL). The restrictions on withdrawal of deposits will be withdrawn on 27 November 2020. 


The merger was approved by the Union Cabinet. The cabinet has also stated that those who were responsible for LVB's crisis will be penalised. 


Bottom line: The merger will surely provide comfort to the large amount of depositors and protect the services of 4,000 employees.

Cyclone shock for IRCTC
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We are facing another tough enemy amid the pandemic. The cyclone 'Nivar' has entered the south coast and as always, we are sticking together during the hard times. Our thoughts and respect are with everyone in the battlefield. 


IRCTC CANCELS SPECIAL TRAINS: 


In view of the cyclone NIVAR, Indian Railways’ Southern Railway zone has suspended several special train services. The special trains will remain fully cancelled on 25 November 2020. 


For the cancelled special train services, the national transporter would grant full refund to passengers. An automatic refund will be granted to e-ticket holders. For train tickets reserved at stations, passengers can avail a refund on surrendering of tickets at the railway counter within 15 days of the train’s scheduled departure as against the regular norm of three days.


Bottom line: Tough times and hard measures.


Laurus Labs Acquires Large Stake of Richcore Lifesciences.
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In a bid to mark its entry into the biotechnology segment, Laurus Labs has acquired one of the key players in the sector. 


Laurus Bio Pvt Ltd  


Laurus Labs has signed an agreement to acquire 72.55 per cent stake in Bengaluru-based Richcore Lifesciences Pvt Ltd for ₹247 crore. Richcore will be renamed to Laurus Bio Pvt Ltd.


This acquisition will enable Laurus Labs’ entry into the broader biologics, providing the company access to its high growth areas, globally and in India.


Who are Richcore? 


Richcore, a fast-growing biotech company based in Bengaluru with its advanced R&D and manufacturing facilities, develops and manufactures biotech products critical for manufacturing biological drugs.


OTHER FLICKS
  • JSW Cement arm Shiva Cement on Wednesday said it will invest over Rs 1,500 crore to set up a clinker unit at Sundergarh in Odisha.
  • Mahindra's All-New Thar receives 4-star safety rating from Global NCAP.
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