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RIL: Fishing downstream
Reliance Industries, which had declared an intention to seek inorganic growth opportunities, confirmed a preliminary offer for a controlling interest in global petrochem major, LyondellBassel. The timing is prime for acquisitions in the space as there has been a steep decline in replacement cost and asset value given the plummeting of margins in the petrochemical space.
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11 Telangana ministers withdraw resignations

Eleven of the 13 Congress ministers from the Telangana region, who had resigned from their posts demanding a concrete action on the formation of Telangana state, decided to withdraw their resignation on Thursday. - 11 Telangana ministers withdraw resignations - No flip-flop on Telangana, says Chidambaram - All 13 Congress ministers in AP to withdraw resignation - AP Cong ministers decide to withdraw resignation - Random thoughts on Telangana - Telangana bandh peaceful Higher education minister D Sridhar Babu and information technology minister Komatireddy Venkata Reddy did not withdraw their resignations. The move comes in the wake of Centre’s announcement to hold discussions with eight recognised political parties from the state on January 5. The ministers met Andhra Pradesh Congress Committee president D Srinivas. Speaking to the media, information and tourism minister J Geeta Reddy said: “We have decided to withdraw our resignations as we are satisfied with the Centre’s decision to initiate discussions with recognised political parties.”


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