Today's Sector News - 19.11.2019: 09.00 Am
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* BANKING: The Bombay High Court has appointed Vijaykumar V. Iyer as the liquidator of Aditya Birla Idea Payments Bank after a voluntary plea from the company.
* ECONOMY: The finance ministry on Monday said India is on track to reach the $5-trln target by 2025, and although the economy has slowed down, it is still projected to grow at the fastest pace among Group of 20 nations this year.
* FINANCE: Altico Capital India has defaulted on payment of 8.58 mln rupees, which was due on Friday.
* PHARMACEUTICAL: Private equity group Advent International is buying a controlling stake in Mumbaibased biopharma company Bharat Serums and Vaccines, valuing the company for $500 mln.
* STEEL: ArcelorMittal expects to complete its acquisition of Essar Steel India before the end of the year, following the Supreme Court’s approval of its resolution plan for the company.
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