Emami Limited has subscribed to 4,348 compulsorily convertible preference shares (CCPS) of its associate company, Cannis Lupus Services India Private Limited. Cannis is an associate company of Emami Limited, making this acquisition a related party transaction. However, none of the promoters, promoter groups, or group companies have any interest in Cannis. The transaction has been …
Just a month after mesmerizing the world with a grand Rs 5,000 crore star-studded wedding, the Ambani family, Asia’s richest, is back in the spotlight. This time, the stage is set for the much-anticipated 47th Annual General Meeting (AGM) of Reliance Industries Limited (RIL) on August 29, 2024. As the date approaches, all eyes are …
Shares of Vardhman Textiles witnessed a notable surge of over 4% on Friday, reclaiming the significant psychological level of Rs 500. The stock opened at Rs 489, which also marked the day’s low, and quickly climbed to an intraday high of ₹529. As of the latest trading update, Vardhman Textiles is trading at Rs 504.55, …
Block Deal in Tata Technologies In a significant market move, Tata Technologies witnessed a substantial block deal on Friday, where 1.2 crore shares, accounting for 2.9% of the company’s total equity, were traded. This transaction, conducted at an average price of Rs 1,019.8 per share, resulted in a total deal value of Rs 1,218.5 crore. …
Shares of Hindustan Aeronautics Ltd. (HAL) soared to an intraday high of Rs 4,864 on Friday, drawing significant attention from market participants. The surge in HAL’s stock price comes in the wake of a key development in India’s defence sector, particularly after the recent signing of the Security of Supplies Agreement (SOSA) between the United …
On August 23, 2024, Kaynes, a global leader in electronic system design and manufacturing, celebrated the opening of its state-of-the-art electronics manufacturing facility in Hyderabad. This event marked an important step in the company’s growth strategy, emphasising its focus on innovation, sustainability, and excellence. The inauguration was graced by the presence of Gaddam Prasad Kumar, …
On August 23, 2024, JSW Energy Limited announced significant developments in its renewable energy portfolio. JSW Renew Energy Twenty Limited, a wholly-owned step-down subsidiary of JSW Energy, has signed a Power Purchase Agreement (PPA) with Bangalore Electricity Supply Company Limited (BESCOM). This agreement covers a solar capacity of 300 MW, awarded by Karnataka Renewable Energy …
In a significant setback for foreign direct investment in India’s financial sector, HDFC Bank has rejected a proposed $2 billion investment from Japan’s Mitsubishi UFJ Financial Group (MUFG). This decision has sparked disappointment in Japan and raised questions about the future of India-Japan economic ties despite the potential benefits of such a partnership. Instead of …
The Securities and Exchange Board of India (Sebi) has imposed a five-year ban on industrialist Anil Ambani and 24 other entities, including former key officials of Reliance Home Finance Ltd (RHFL), from participating in the securities market. This decision follows findings that they were involved in diverting funds from RHFL. Sebi has also levied a …
Jain Irrigation Systems (JISL) has made a significant breakthrough in the coffee industry. As the first company globally to develop a tissue culture protocol for coffee varieties, JISL has partnered with the Coffee Board of India to commercialise high-quality, disease-resistant coffee plants. This collaboration is poised to revolutionise coffee cultivation. JISL’s expertise in crop enhancement, …
