Radhakishan S. Damani, the founder of DMart, made a major move yesterday by divesting a stake worth Rs.142 crore in VST Industries Ltd. The sale was executed through open market transactions by two of his investment arms. Derive Trading and Resorts Pvt. sold a 1.7% stake, translating to 2.62 lakh shares, at Rs.4,102 per share, …
Lemon Tree Hotels has announced the signing of its latest property, Keys Prima by Lemon Tree Hotels, in Kota. Managed by Carnations Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited, the hotel is slated to open in FY 2025. Kota, located along the Chambal River in Rajasthan, is a city renowned for …
According to people with knowledge of the situation, the foreign portfolio investor, acting through Maple II BV, has suggested selling Rs. 4.78 crore shares at a floor price of at least Rs. 226 each, less 5%. This transaction is valued at Rs 1,081 crore. IIFL Securities Ltd. has been appointed as the exclusive broker for …
Ramkrishna Forgings Limited announced on July 24, 2024, its decision to acquire Resortes Libertad S.A. DE C.V., based in Mexico. This strategic move marks a significant step in the company’s global expansion strategy. Strategic Rationale The acquisition is aimed at establishing machining facilities in Mexico. A 10-year take-or-pay agreement with a North American customer, valued …
The full-service and integrated diagnostic chain Suraksha Diagnostic Limited has filed the Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to float an Initial Public Offering (IPO). Suraksha Diagnostic IPO is entirely an offer-for sale comprising 1,91,89,330 equity shares of face value ₹2 each. Suraksha Diagnostic has …
SIS Ltd, a leading security solutions provider, announced its financial results for the quarter ended June 30, 2024 (Q1 FY25). While revenue witnessed growth, profitability faced headwinds due to operational challenges. Revenue Growth, Margin Pressure The company recorded a 5.1% YoY increase in revenue to ₹3,129.9 crore during Q1 FY25. However, EBITDA margin contracted to …
ICICI Lombard General Insurance Company Limited announced a strategic investment in Bajaj Finance Limited on July 24, 2024, by acquiring a 0.04% stake for a cash consideration of ₹1.60 billion. This acquisition was finalised on the same day. Strategic Alignment While the specific rationale behind this investment has not been explicitly outlined, it is likely …
EPACK Durable Limited, India’s leading original-design manufacturer of room air conditioners and other small domestic appliances, reported robust financial results for the quarter ended June 30, 2024 (Q1 FY25). Revenue and Profitability Surge The company witnessed a remarkable 77% year-on-year (YoY) increase in revenue, reaching ₹7,737 million in Q1 FY25. This significant growth was driven …
On July 24, 2024, Aditya Birla Sun Life AMC Limited (ABSLAMC) released its unaudited financial results for the quarter that ended on June 30, 2024. Business Highlights In the quarter ending June 30, 2024, Aditya Birla Sun Life AMC Limited (ABSLAMC) saw significant growth in its business. The total assets under management, including alternative assets, …
CMS Info Systems Limited, India’s leading business services company specialising in banking logistics and technology services, has announced its financial results for Q1 FY25. In Q1 FY 2025, the company reported a revenue of ₹599 crore, reflecting a 17% year-over-year growth. Adjusted EBITDA stood at ₹164 crore, marking an 8% year-over-year growth, while adjusted PAT …
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