LIMITS
Apollo Hospitals to acquire Rs 103.2 crore stake in subsidiary Apollo Health
"... we wish to inform you that the Company is acquiring 35,12,107 equity shares of Rs 10 each at a price of Rs.294/- per share (including premium of Rs.284/- per share) aggregating to Rs. 1032.60 million by way of subscribing to the rights issue of Apollo Health and Lifestyle Limited, a subsidiary of the Company (AHLL)," the hospital chain company informed stock exchanges on Saturday.
JM Financial board okays plan to consolidate debt, distressed credit business under one platform
JM Financial will increase its stake in JM Financial Credit Services to 89.67% and JMFCSL will acquire 71.79% stake in JM Financial Asset Reconstruction Company from JMFL for Rs 856 crore.
JM Financial consolidates wholesale and distressed credit biz
JM Financial Limited (JMFL) is set to consolidate its wholesale debt syndication and distressed credit business under a single platform. The move involves two acquisitions: a 42.99% stake in JM Financial Credit Solutions Limited (JMFCSL) and a 71.79% stake in JM Financial Asset Reconstruction Company Limited (JMFARC). The consolidation aims to transition from an on-balance sheet business model to a diversified originate-to-distribute/syndication model across various asset classes.
Monsoon is a cyclical headwind, but infra push and M&A are bigger tailwinds for long term investors: 5 cement stocks with upside potential of up to 44%
Cement is a sector which has probably seen maximum mergers and acquisition in the last three years. Right from the second biggest player witnessing a change in ownership, to small players being taken over. With the monsoon coming, there is always a cyclical pressure on cement stocks, with the narrative being that in monsoon construction activity slows down. Even this week it played on the street, with cement stock witnessing a decline. But the question is whether this correction in stock price gives an opportunity to investors to get into a sector which is witnessing a fundamental shift in terms of how the demand curve pans out. Probably the answer is tilted toward yes for at least some players.
India-Russia JV delivers 35,000AK-203 rifles in first phase
Indo-Russian Rifles in Amethi delivered 35,000 AK-203 rifles to the Indian Army. The Korwa Ordnance Factory began production after its 2019 inauguration and a ₹5,124 crore technology transfer. It will supply paramilitary, police forces, and enable exports to friendly nations, complying with Make in India and Atmanirbhar Bharat policies.
ED searches Goa-based Chowgule Group, linked persons in FEMA probe
The premises of Chowgule and Company Private Limited (CCPL), Chowgule Steamship Limited (CSL), P P Mahatme and Company, seven residential premises of members of the Chowgule family, their group CA Pradip Mahatme, ex-MD and CFO of CSL Mangesh Sawant in Goa and Mumbai were covered during the searches.
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Vedanta shares rise 1.5% as Sensex slides
A total of 467,045 shares changed hands on the counter till 12:38PM (IST)
Centre gives in-principle nod to setting up coal-based thermal power plant in Uttarakhand
The central government has given in-principle consent to the establishment of thermal power plant through THDCIL-UJVNL Energy Company Limited (TUECO), an official release here said. According to the SHAKTI policy, Coal India Limited can allow the supply of coal to the production companies of the central and state governments and their joint ventures at notified rates.
Vedanta rises 0.16% as Sensex climbs
The stock traded at a P/E multiple of 40.73, while the price-to-book value ratio stood at 3.29.
Vedanta share price up 0.24 per cent
A total of 273,138 shares changed hands on the counter till 11:42AM (IST).
Russia's Novorossiysk authorities limit beach access after sea drones attacks
The mayor of Novorossiysk, Andrei Kravchenko, announced that beach access in the Russian Black Sea port city would be restricted until 09:00 (0600 GMT) on July 3 due to ongoing operational activities following a reported sea drone attack. Kravchenko urged residents and visitors to avoid beach areas, embankments, and recreational zones along the water's edge during this period. The city has been on alert amid tensions, with accusations from Russia of attacks by Ukraine on its Black Sea ports and the annexed Crimean Peninsula, although details and damage assessments are often not fully disclosed by Russian officials.
Vedanta shares drop 0.36% as Sensex rises
A total of 342,913 shares changed hands on the counter till 11:21AM (IST)
Indian defence firms need to invest more in innovations and R&D to keep pace with global standards: Report
According to India Infoline Finance Limited (IIFL) report, these firms allocate only 1.2 per cent of their revenue to R&D, markedly lower than the global average of 3.4 per cent. This gap highlights a need for increased investment in innovation to keep pace with global standards.
IT stocks: A comeback which just needs a bit more confirmation; 7 stocks with an upside potential of up to 23%
Just before the expiry of the June series contract, bulls were seen in a segment of the market which has been long ignored by them — IT stocks. Because the upward movement was taking place at the end of expiry, one could not rule out the element of short covering. If one looks a bit deeper in the trend in IT stocks, two things have become clear. That while the news and opinion has been negative, the price action has not been so bad as has been painted. Now let's look at what happened in the IT sector and why there could be a case for contrarian buying. Yes, the sector has some headwinds which not many had thought would appear two years back. But the bigger question is whether this phase of underperformance is about to get over or not. It might be time to shed the bias of negativity around large IT players.
Japan imposes new fees on Mount Fuji climbers to limit tourists
Park rangers on Japan's Mount Fuji launched this year's climbing season before sunrise, implementing new trail fees and capping daily hiker numbers at 4,000 to manage overcrowding. Climbers now pay ¥2,000 ($12) per person amid concerns over litter and trail congestion from last year. The season runs until September 10, aiming to mitigate environmental impact and safety issues, especially among eager "bullet climbers". Despite Japan's tourism boom, authorities seek to balance visitor numbers with sustainable management practices.
Vedanta stock price up 1.98 per cent as Sensex climbs
As of 31-Mar-2024, promoters held 0.0 per cent stake in the company, while FIIs held 8.78 per cent and domestic institutional investors had 3.55 per cent.
Zelenskyy appeals to West to relax targeting limits for Ukraine as glide bombs hammer front line
Recent drone footage released by Ukraine's military shows bodies in the civilian area of Toretsk amid heavy Russian bombardment. Ukrainian rescue services have scaled up evacuation efforts as Russian glide bombs devastate the town. President Zelenskyy reported over 800 glide bomb attacks in the past week and called for increased military aid to counter Russian aircraft. Russian bombs recently struck a postal warehouse in Kharkiv, killing one and injuring nine, while another attack in Vilniansk killed seven civilians and wounded dozens. Russian officials reported Ukrainian shelling injuries and downed drones in various regions.
Bharat Electronics Limited receives orders worth Rs 3,172 crore
BEL signed a Rs 3,172 crore contract with AVNL for Indian Army's BMP 2/2K tanks upgrade with indigenously designed system. Orders worth Rs 481 crore, including doppler weather radar, were secured. The accumulated orders this year are Rs 4,803 crore.
Aggregate WMA limit of states/UTs revised upward to Rs 60,118 cr: RBI
The limits for financial accommodation extended by the RBI to state governments/ union territories (UTs) through Special Drawing Facility (SDF), WMA, and Overdraft (OD) schemes were last reviewed and announced on April 1, 2022. The RBI further said the SDF availed by state governments/ UTs shall continue to be linked to the quantum of their investments in marketable securities, issued by the government, including auction treasury bills (ATBs).
Vedanta shares up 3.1% as Sensex rises
A total of 548,622 shares changed hands on the counter till 11:11AM (IST)
Sembcorp files suit against Siemens Gamesa over unsettled arbitration
Sembcorp's India unit has filed a lawsuit in a Bengaluru court to prevent Siemens Gamesa from selling its Indian business assets before settling an ongoing arbitration. The arbitration pertains to alleged default in executing a contract. Sembcorp has sought an injunction over the sale, which includes Siemens Gamesa's shareholding in India.
Juniper Green Energy secures renewable PPAs in Gujarat, Rajasthan
Juniper Green Energy announced on Wednesday that it has signed power purchase agreements for renewable energy projects in Gujarat and Rajasthan. The company has secured an agreement with Gujarat Urja Vikas Nigam Limited (GUVNL) under wind phase VI for a standalone 90 MW wind project in Gujarat. The aim of these projects is to promote renewable energy in these regions.
Vedanta shares fall 2.26% as Nifty gains
A total of 128,303,338 shares changed hands on the counter till time (IST).
Govt imposes stockholding limit on wheat to check hoarding
Food secretary Sanjeev Chopra hinted at the possibility of removing import duty on wheat, saying the government is open to all options to keep prices under control. Wheat prices in retail markets are ruling 6% higher than the comparable period of previous year, despite the government's claim of a bumper crop. "I want to dispel the shortage of wheat in the country," Chopra said, adding that the stock limit has been imposed to reduce hoarding.
Ather Energy converts to public limited company on road to IPO
Ather's board greenlit the change at its annual general meeting (AGM) last week, and the EV scooter maker will change its name to Ather Energy Limited, from Ather Energy Private Limited earlier, sources told ET. Ather plans to raise $75-90 million (about Rs 750 crore) in primary funding from new and existing investors, ET had reported on April 23.
Centre imposes stockholding limit on wheat to check hoarding, ensure price stability
India has capped wheat stock limits for retailers and processors and may reduce or eliminate import taxes to stabilize prices, said Food Secretary Sanjeev Chopra. This move aims to curb inflation and manage supply, as the government explores various measures to ensure wheat price stability in the market.
Vedanta shares fall 1.0 per cent in Monday's trading session
The Relative Strength Index of the stock stood at 58.91 on Monday.
IAF to acquire 6 Tapas drones, lead military acquisition for Made-in-India UAVs
Indian Navy to order four Tapas drones built by DRDO for maritime surveillance operations.
India imposes stock limits on tur, chana to cool prices
India has imposed stock limits on pigeon peas (tur) and chickpeas (chana) in efforts to stabilize prices and prevent hoarding amidst elevated food costs caused by reduced supplies from factors like drought and heat waves. The limits apply to traders, businesses, and retailers, with specific caps such as 200 metric tons for wholesalers and five metric tons for retailers. Millers are restricted to either the last three months of production or 25% of annual capacity.
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