Tata Steel on Wednesday said it has acquired about 178 crore additional equity shares of T Steel Holdings Pte Ltd for USD 280 million, taking the total fund infusion into its Singapore-based arm to USD 1,337 million. “Tata Steel acquired 1,78,34,39,490 ordinary equity shares of face value USD 0.157 each aggregating to USD 280 million … Read more
Walmart-backed fintech major PhonePe on Wednesday said the market cap overhang is a challenge for the potential listing of the company and can not go to the market based on the current numbers and market share. He also said the company plans to enter the European market in the next five years. It may be … Read more
Private equity firm Warburg Pincus on Thursday exited Kalyan Jewellers, selling 2.36% stake in the company to promoter T S Kalyanaraman and the remaining 6.81% via block deal. The US-based company held 9.17% in Kalyan Jewellers as on June 30, 2024 through its affiliate Highdell Investment. It held the stake since 2014. Commenting on the … Read more
PVR Inox’s stock has gained 5% in the past three trading sessions following the success of Stree 2 and on account of factors such as strong line-up of films in the coming months and timely expansion of capacity in the southern region. The stock of the country’s largest multiplex company is on a roll after … Read more
The Indian rupee slipped to its weakest closing level on Monday, pressured by a decline in its Asian peers while likely intervention by the Reserve Bank of India ensured the currency did not weaken more. The rupee closed at 83.9725 against the U.S. dollar, after closing at 83.9550 in the previous session. The currency hovered … 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
The Swiss National Bank cut interest rates on Thursday, maintaining the central bank’s position as a frontrunner in the global policy easing cycle now underway. The SNB cut its policy rate by 25 basis points to 1.25%, as expected by two-thirds of analysts polled by Reuters, following a similar cut in March. The decision had … Read more
Nifty ended Thursday with declines of 216.05 points 1% at 22,488.65 led by strong selling pressure in most sectors. The 50-stock index fell for the fifth straight session and is now trading below the crucial 21-day Exponential Moving Average (21EMA). “The recent decline has disrupted the positive momentum, with Nifty falling below its crucial short-term … Read more
Sebi’s new guidelines for managing stock price impact arising from market rumours will ensure that the share price used in the merger and acquisition (M&A), buyback, and other transactions are not artificially influenced by speculative market activities, experts said on Wednesday. Market rumours pertaining to a company’s business can create significant volatility in stock prices, … Read more
