Billionaire Anil Agarwal’s Vedanta fell short of meeting its initially targeted proceeds from an offer for sale (OFS) in group entity Hindustan Zinc, with the exercise netting ₹3,100 crore for the resources conglomerate that had first sought to garner up to ₹6,500 crore in stake dilution but later reduced the OFS size. Vedanta sold 63.6 … Read more
The head of India’s markets regulator, Madhabi Puri Buch, continued to earn revenue from a consultancy firm during her seven-year tenure, potentially breaching rules for regulatory officials, according to public documents reviewed by Reuters. Hindenburg Research has alleged a conflict of interest in Buch’s investigations surrounding the Adani Group due to her previous investments. The … Read more
Mumbai: Shares of Chennai-based Sun TV Network tumbled as much as 12% on Monday, emerging as one of the top losers, after the company’s June quarter earnings disappointed investors, triggering analyst downgrades. The stock closed at ₹819.5 on Monday, down 10.6% over the previous day. Sun TV’s consolidated profit for April-June fell 5.5% to ₹560 … Read more
ICICI Bank, RailTel, CONCOR and Coal India among a host of other companies are likely to remain in focus next week as they are approaching their record dates for the purpose of dividend, bonus issues and stock split. The record date is the date set by the company to decide the shareholders who are eligible … Read more
Adani Energy Solutions, led by billionaire Gautam Adani, is likely to launch a share sale this week to raise more than $600 million, two sources with direct knowledge of the matter told Reuters on Monday. The sale of existing shares will be Adani Group’s first fundraise from equity markets after a $2.5 billion share sale … Read more
UltraTech Cement does not intend to delist shares of India Cements after it acquires additional stake in the company through an open offer, the company said on Monday. This comes a day after the country’s largest cement producer’s acquisition of additional stake in the Chennai-based company. The Aditya Birla Group company had acquired a near … Read more
Foreign investors pumped ₹22,670 crore into shares of companies across 19 sectors between July 1 and 15, according to data from National Securities Depository (NSDL). Capital goods, automobiles, information technology (IT), and healthcare were among the sectors that witnessed the highest inflows in the period. The capital goods sector saw robust inflows worth ₹3,612 crore … Read more
Benchmark indices Sensex and Nifty rebounded on Tuesday, hitting their fresh record closing levels. In today’s trade, shares of Delta Corp, Paytm, Delhivery, Mankind Pharma, JSW Steel among others will be in focus due to various news developments and first quarter results. Delta CorpDelta Corp on Tuesday reported a 34% fall in its standalone net … Read more
Brokerage firms such as Morgan Stanley maintained an underweight rating on Amara Raja, Macquarie has an underperform tag on United Spirits, HSBC has a buy call on Dixon Technologies, while Jefferies has a buy rating on Grasim. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley … Read more
Mumbai: Vedanta Resources, the holding company of billionaire Anil Agarwal, sold a 2.63% stake in India-listed firm Vedanta on Wednesday through block deals. According to the BSE bulk deal data, Finsider International Company, an entity belonging to the promoter group, sold 97.95 million shares to raise ₹4,184 crore through the transactions. Vedanta Group, in a … Read more
