ADDITIONAL STAKE
Key issues at stake in the UK election
The UK general election on Thursday faces key issues: Labour's predicted win amidst lacklustre campaign, voter apathy towards party leaders, Farage's Reform UK surge, potential Tory setback, SNP's struggles for independence, and Lib Dems' resurgence with unique campaign strategies and focus on pro-European and climate policies. Turnout and results will shape the future government.
UltraTech buys 23% stake in India Cements
UltraTech, the Aditya Birla Group cement maker and the country's largest, bought 70.6 million shares of India Cements as a "non-controlling financial investment" at up to Rs 267 a share, the acquirer said in customary filings Thursday morning. UltraTech bought the shares from billionaire investor Radhakishan Damani, his family members and his investment firms Derive Investments and Derive Trading and Resorts.
TPG Capital buys controlling stake in digital services company Altimetrik
Altimetrik, backed by TPG Capital, expands its reach with a robust partner network including Snowflake. The company's leadership team, under CEO Raj Sundaresan, focuses on driving innovation and delivering business outcomes, solidifying its position in the digital business landscape.
Five entities sell 11% stake in Hindustan Foods for Rs 638 crore
Jwalamukhi Investment Holdings, Infinity Consumer Holdings, WestBridge AIF I, Sixth Sense India Opportunities 11, and Konark Trust sold shares of Hindustan Foods in five separate block deals on the National Stock Exchange.
Prosus writes off investment in Byju's marking $493 million loss
Prosus writes off 9.6% stake in Byju's worth $493 million due to value decrease as per HSBC note. Also marks investment in Primrose Hill (ZestMoney) to zero against $38 million FY22.
Triveni Engineering buys addl 36.34 pc stake in sugar firm Sir Shadi Lal Enterprises for Rs 45 cr
Triveni Engineering & Industries Ltd acquires 36.34% stake in Sir Shadi Lal Enterprises Ltd for Rs 45 crore, enhancing its position as a major sugar producer. Vice Chairman Tarun Sawhney views the acquisition as a strategic move to boost Triveni's sugar and alcohol businesses.
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Axis Group ups stake in Max Life Insurance to 19.99%
Axis entities, including Axis Bank, Axis Capital, and Axis Securities, increase stake in Max Life Insurance to 19.99% from 19.02% with ₹336 crore acquisition, pending regulatory approval; Max Life's FY24 gross premium income stands at ₹29,529 crore.
Axis Bank hikes stake in Max Life for Rs 336 cr
Axis Bank and its two subsidiaries - Axis Capital Ltd and Axis Securities Ltd - were allowed to collectively own about 20 per cent in Max Life Insurance by the Insurance Regulatory and Development Authority of India (IRDAI).
UK’s Vodafone Group sells 18% in Indus for Rs 15,300 crore
The stake sale proceeds will be used to clear bulk of the UK company’s existing lender dues relating to $1.8 billion of borrowings secured against its Indian assets.
Gautam Adani raises stake in Adani Enterprises by 1.32% in June quarter
The billionaire businessman did so via the open market. He bought this stake in AEL in two tranches. Between May 10 and 14, he reportedly bought an additional stake of 0.42% in the group’s flagship company through Kempas Trade and Investment. He followed it up with a 0.92% stake purchase through Emerging Market Investment DMCC.
New govt not in favour to sell stake in OMCs, says Oil Minister Puri
India's oil minister, Hardeep Singh Puri, has announced plans to bring petrol, diesel, and natural gas under the Goods and Services Tax (GST) as part of the new cabinet. Puri emphasized that the government is not in favor of stake sales in state-run oil firms, following the scrapping of the Bharat Petroleum Corporation Ltd (BPCL) divestment process in 2022. The Indian firms are also in talks for a term oil deal with Russia.
Berkshire buys additional 2.57 mln shares in Occidental Petroleum, shows filing
Warren Buffett's Berkshire Hathaway ups Occidental Petroleum stake, acquiring 2.57 million shares in early June, now owning around 250.6 million shares. Berkshire's investment surpasses $150 million. Previous ventures include joint lithium extraction project in California.
Hero MotoCorp raises 2.2% stake in Ather Energy for about Rs 124 cr
Last year too, Hero had hiked about 3% stake in Ather Energy for about Rs 340 crore. The latter has raised Rs 286 crore from its founders and Stride Ventures in a mix of debt and equity funding. Ather Energy counts the likes of Tiger Global and Singaporean Sovereign Wealth Fund GIC among its investors
Promoter of ZF Commercial mulling stake sale worth Rs 1,500 crore
Cashing on the benefit of peak multiples in the Indian equity market, promoters of ZF Commercial Vehicle Systems India (formerly WABCO INDIA) is looking to sell 4-5% stake in the India unit, according to multiple people aware of the development. Germany based ZF group currently holds a 75% stake in the India unit.
Sebi asks Religare to file Burmans’ open offer plan
Sebi directs Religare to apply with open offer proposal by Burman family to purchase additional 26% stake from public shareholders.
Kotak Bank gets RBI nod to sell 70 pc stake in general insurance arm to Zurich Insurance
In November last year, Zurich Insurance Company announced plans to acquire a 51 per cent stake in Kotak Mahindra General through a combination of capital infusion and share purchase, followed by a subsequent acquisition of an additional stake of 19 per cent within three years from the initial acquisition for Rs 5,560 crore.
Cryptocurrencies for passive income generation in 2024
Cryptocurrencies like 99Bitcoins, PlayDoge, WienerAI, and Bitcoin offer high growth potential and passive staking income through platforms. Users can earn rewards and interest by staking assets during the holding period.
Tether acquires $100 million stake in US-Listed bitcoin miner Bitdeer
The two firms entered into a subscription agreement for a private placement of 18.6 million Class A ordinary shares, Bitdeer said in a statement on Friday, which generated $100 million in gross proceeds. There was also a warrant to purchase up to five million in additional shares at $10 per share. The private placement closed on Thursday.
Adani Paytm report: Congress attacks PM Modi, says 'Paytm was Pay to Modi'
The opposition party Congress launched a blistering critique of the Prime Minister on Wednesday following reports suggesting that billionaire Adani might acquire a stake in Paytm. Following the release of the report regarding Adani and Paytm, both companies swiftly clarified their positions. One97 Communications addressed a media report on Wednesday suggesting that Gautam Adani, chairman of the Adani Group, may be contemplating acquiring a stake in Paytm's parent company, One97 Communications.
Grasim promotor Birla Group hikes stake by 4.09% to 23.18% in company
There has been no change in the promoter/promoter group's total holding in the company, which remains at 43.06%. Shares of Grasim Industries closed at Rs 2,435.10 on the NSE on Tuesday, rising by Rs 44.45 or 1.86%. A part of the Aditya Birla Group, Grasim reported a 39% increase in its consolidated net profit for the quarter ended March 2024, excluding exceptional items. The net profit rose to Rs 1,908 crore, compared to Rs 1,369 crore in the same quarter last year.
Concord Biotech stock slips over 5% after Rs 519 crore worth of shares change hands
Shares of Concord Biotech fell 5.3% on BSE due to a large block deal where Ontario Inc. sold a 3.4% stake at a discount, impacting stock performance.
Indian Bank plans to raise Rs 5,000 crore via equity & Rs 7,000 crore through debt
Indian Bank plans to raise Rs 5,000 crore in equity and Rs 7,000 crore through perpetual and infrastructure bonds. This move aims to strengthen capital base and finance infrastructure projects. Government's stake to decrease.
As the $15m Dogeverse ICO enters its final stages, could it be the biggest meme coin of 2024?
In 2024, meme coins like Dogeverse flourished with high returns and innovative presales. Leading dog-themed coins are Dogecoin, Shiba Inu, and FLOKI, with Shiba Inu dominating. CoinGecko monitors dog-themed coins. Dogeverse introduces Cosmo the Doge and Wormhole technology for chain-hopping.
PB Fintech's Dahiya, Bansal likely to sell stakes worth Rs 1,053 crore
Dahiya plans to sell up to 54 lakh shares, while Alok Bansal intends to sell up to 29.70 lakh shares, valuing the deal at about ₹1,053 crore at the floor price.
Brookfield India REIT inks pact to acquire Bharti JV stake, funding through listed units
Brookfield India REIT acquires 50% stake in Bharti Enterprises' real estate joint venture in New Delhi, adding Grade A assets and increasing operating area by 16%. Ankur Gupta, Managing Partner at Brookfield, emphasizes the diverse portfolio.
Buy RIL, sell Jio Financial: How mutual funds tweaked stock portfolios in April
For three consecutive months, MFs bought shares of Reliance Industries, HDFC Bank, Hindustan Unilever, Axis Bank and ONGC. During the same time they slashed holdings in ICICI Bank, State Bank of India, Bajaj Finance, Bajaj Auto, and Nestle India
Coromandel to acquire additional 7 pc stake in Dhaksha, invest Rs 150 crore
Coromandel International Ltd invested Rs 150 crore to acquire 7% stake in Dhaksha Unmanned Systems, enhancing research and technology adoption. Dhaksha offers UAS technology solutions, remote pilot training services, with a Rs 265 crore order book.
Greenko Energies gets CCI nod to acquire additional stake in Sikkim Urja
CCI approved Greenko Energies' additional stake acquisition in Sikkim Urja Ltd, a special purpose vehicle for a 1,200 MW hydropower project in North Sikkim. The acquisition was part of promoting fair competition in the marketplace.
CCI nod for Religare stake buy deal without prejudice: Legal expert
On Tuesday, the Competition Commission of India (CCI) approved the acquisition of 31.27 per cent of additional stake in Religare Enterprises by four entities of Dabur India promoter Burman family.
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