In a crucial auction, Omkara Asset Reconstruction Company (ARC) has emerged as the winning bidder to acquire non-performing assets (NPAs) worth Rs.6,151.16 crore from the Stressed Asset Stabilisation Fund (SASF) of the erstwhile Industrial Development Bank of India (IDBI), according to the reports. This sale translates to a recovery of 10.5% for IDBI Bank, positively …
Gautam Adani, the 62-year-old chairman of Adani Group, has announced his intention to retire by the age of 70 and transfer control of his $213 billion empire to the next generation by the early 2030s. In an interview with media, Adani detailed his succession plan, emphasizing that his sons, Karan and Jeet, along with their …
On August 2, 2024, the benchmark indices Nifty 50 was down 1.17% to close at 24,717, and Sensex was down 1.08% to close at 80,981. Top Gainers and Losers On the sectoral front, the Nifty Pharma and Healthcare Index ended in the green. Meanwhile, Nifty Realty, Auto, Metal, and IT were declining. The top gainers …
On August 01, 2024, Godrej Agrovet Limited (GAVL), one of India’s largest food and agri-business companies, announced it had signed a definitive agreement with Tyson India Holdings Limited, a branch of Tyson Foods, Inc., to buy Tyson’s 49% stake in Godrej Tyson Foods Limited (GTFL). This move will give GAVL full ownership of GTFL, strengthening …
If you missed the impressive rally in Zomato’s stock, don’t worry—there’s another stock that’s benefiting immensely from Zomato’s success. Info Edge (India) Ltd. has seen its shares surge over 5.5% recently, reaching a fresh 52-week high of Rs 7,327.75 on the NSE. With the stock nearing its record high of Rs 7,465, which was last …
PVR, founded in June 1997, has been operating for 27 years and employs over 20,000 people. Priya Village Roadshow Ltd and known for PVR Cinemas, is an Indian multiplex chain based in Delhi. It was formed through the merger of PVR Cinemas and INOX Leisure Multiplex. PVR pioneered the multiplex revolution in India by opening …
Introduction PVV Infra Limited, a player in the infrastructure and solar power sector, has recently made headlines with its significant corporate announcement. On August 2, 2024, the company’s Board of Directors approved a 1:1 bonus share issue, sparking a surge in investor interest and propelling the stock to hit its upper circuit limit. Let’s delve …
Max Healthcare Institute Ltd. has announced plans to establish a new hospital in Mohali’s Zirakpur, Punjab. The project involves an investment of Rs.230 crore and aims to expand the company’s healthcare network. New Hospital Project Details The new facility will be a build-to-suit hospital with over 250 beds. Max Healthcare will enter into a long-term …
Kalyan Jewellers India Ltd. designs, manufactures, and sells a variety of gold, studded, and other jewelry items across different price ranges, it is one of India’s largest jewelry retailers in India by revenue. Financial Performance Kalyan Jewellers India Ltd. reported a 23.6% year-on-year (YoY) increase in net profit for Q1FY25, at Rs.177.8 crore, a notable …
ITC, the second-largest FMCG company in India and the third-largest tobacco company globally, reported a marginal profit in Q1 FY25. The company operates across six segments: FMCG, hotels, agribusiness, information technology, paper products, and packaging, with the majority of its revenue coming from tobacco products. ITC employs 37312 people at over 60 locations in India, …
