RIL in focus after stake hike in Genesis Colors

Reliance Brands, a subsidiary of the Reliance Industries (RIL), has purchased an additional 3.07% equity holding in Genesis Colors (GCL) for about Rs 8.32 crore, taking its total stake in GCL to 49.46%. The announcement was made after market hours on Friday, 24 August 2018.

GCL was incorporated in November, 1998 and is in the business of retailing and wholesale of branded readymade garments, bags, footwear and accessories directly and through its subsidiary/Joint Ventures. This acquisition will add to the existing portfolio of branded fashion retail outlets.

Dewan Housing Finance Corporation proposed to issue Secured Redeemable Non Convertible Debentures amounting to Rs 1000 crore plus a greenshoe option of upto Rs 1000 crore on private placement basis. The announcement was made after market hours on Friday, 24 August 2018.

JK Paper said that some of the contract workers at Unit JKPM at Distt. Rayagada, Odisha, have resorted to illegal and unlawful stoppage of work, which has resulted in disruption of production since early morning on Saturday, 25 August 2018. The matter is being handled by the labour department and local administration, Government of Odisha. The announcement was made on Saturday, 25 August 2018.

V2 Retail has opened its 67th store at Chas, Jharkhand. This is 5th store in the state. The company's 67 V2 Retail stores are now spread across 17 states and 61 cities. The announcement was made on Saturday, 25 August 2018.

Bodal Chemicals has acquired land aggregating to about 27876.36 Sq Mtrs, for future expansion and new projects. The company has already made necessary payments for acquisition/purchase of land and the same has been transferred in name of the Bodal Chemicals, by Gujarat Industrial Development Corporation authority. The announcement was made on Saturday, 25 August 2018.

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