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 …
Suryoday Small Finance Bank Limited has released its unaudited financial results for the quarter ended June 30, 2024. Financial Highlights Net interest income reached ₹293.2 crore in Q1 FY25, up from ₹224.7 crore in Q1 FY24, reflecting a year-on-year growth of 30.5%. Net total income was ₹363.4 crore in Q1 FY25, compared to ₹275.7 crore …
On August 01, 2024, Le Travenues Technology Limited, known as India’s leading Online Travel Agency (OTA) for the Next Billion Users, released its financial results for the quarter ending June 30, 2024. Key Performance Highlights – Q1 FY25 In Q1 FY25, Le Travenues Technology Limited achieved significant growth across various financial metrics. The Gross Transaction …
On August 1, 2024, the benchmark indices Nifty 50 was up 0.24% to close at 25,010 and Sensex was up 0.15% to close at 81,867. Top Gainers and Losers On the sectoral front, Nifty Oil and Gas, Nifty Healthcare Index, Nifty FMCG, and Nifty Financial Services ended in the green. Meanwhile, Nifty Media, Nifty Realty, …
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 …
