Shareholding

The Sir Ratan Tata Trust (SRTT) is in "non-compliance" of an amended law in Maharashtra limiting the number of life trustees on a body, and should take urgent corrective steps, a legal opinion has said. The number of life trustees should come down to one from the present three, as per the opinion given by former Supreme Court Judge Justice Krishna Murari. "It is evident that the present composition of the Board of Trustees of the Sir Ratan Tata Trust, comprising three life trustees out of a total of six, is not in conformity with the mandate of Section 30A(2) of the Maharashtra Public Trust Act, 1950," the opinion, a copy of which has been reviewed by PTI, said. The opinion assumes significance as a lawyer has filed a petition with the Maharashtra Charities Commissioner alleging violations by the SRTT with regard to appointment of lifetime trustees. At present, there are six trustees on the SRTT of which three are lifetime ones. The lifetime trustees are late Ratan Tata's brother

Sebi's proposal to extend timelines for the 25% minimum public shareholding requirement could provide flexibility to listed companies and open offers, according to legal experts

Disputes over control and ownership at Sona BLW follow the passing of chairman Sunjay Kapur, with Rani Kapur alleging coercion and calling for the AGM to be postponed

The appellate tribunal said the NCLT order was a consensual interlocutory directive that did not determine rights, and thus no interference was warranted at this stage

NCLAT refuses to interfere with interim order in Aakash shareholding case, saying it was consensual and interlocutory; matter returns to NCLT Bengaluru for hearing

Analysts believe that pharma shares continue to see buying interest, given the inelastic demand for medicines; tariffs, if any could have minimal impact on the industry.

Sources say diversified shareholding may create challenges in fundraising, will add complexities

According to ACE Equity data, LIC and ICICI Prudential fund held more than 5% stake in IndusInd Bank; another 13 fund houses owned more than 1 per cent equity of the bank as of December quarter.

DIIs have doubled their shareholding, in terms of absolute number of shares held, in 46 out of the Nifty 500 companies in the last nine months, shows ACE equity data.

Mutual Funds increased stake in 84 Nifty 500 stocks in the quarter ended September 2024; here's a technical outlook on select 5 stocks for the likely trend ahead.

Grover will neither be associated with BharatPe nor be a part of its shareholding

Voda Idea, Indus Towers, Ujjivan SFB, CoForge among top stocks where FIIs raised holdings in the June quarter; trading strategies based on technical charts here.

After the fundraising, Ajay Singh's shareholding in SpiceJet may drop to 30-35% from 47.8%

Most PSUs, especially those with low floats, have seen remarkable share price gains over the past year

Public sector banks, financial institutions too must increase their public shareholding to at least 25%

Five PSBs are planning to reduce government stake to less than 75%

Sebi regulations require all listed companies to maintain a 25% public float, but firms with a post-issue market capitalisation exceeding Rs 1 trillion have a 5-year timeline to meet the 25% MPS rule

Life Insurance Corporation of India (LIC) on Monday said its stake in FMCG major Hindustan Unilever Limited (HUL) has crossed 5 per cent. The Corporation has increased its shareholding in Hindustan Unilever Limited from 11,74,63,555 to 11,77,18,555 equity shares, i.e., 4.99 per cent to 5.01 per cent of the paid-up capital of the company, LIC said in a regulatory filing. The Corporation purchased additional shares from the open market in the ordinary course of transaction, it said. Holding in the company touched 5 per cent and the acquisition of shares was done on April 12 at an average cost of Rs 2,248.59 per unit. Shares of HUL ended 1.72 per cent down at Rs 2,194.60 while that of the country's largest state-owned insurer, LIC, closed at Rs 961.15 apiece on BSE, down by 1.03 per cent.

Drug major Novartis AG on Friday announced a strategic review of Novartis India Ltd, a public company listed on the BSE. The strategic review will include an assessment of the 70.68 per cent shareholding of Novartis AG in the company, the drug firm said in a statement. Novartis India Ltd is separate from Novartis Healthcare Pvt Ltd, the wholly owned subsidiary of Novartis group in India. Novartis Healthcare Pvt Ltd includes the Novartis Corporate Centre in Hyderabad, the commercial arm of Novartis in India, and R&D teams, which currently conduct clinical trials at more than 300 trial sites in the country. The strategic review will not impact Novartis Healthcare Pvt Ltd, Novartis AG stated. There can be no assurance that the strategic review of Novartis India Ltd will be completed in 2024, or that the outcome would result in the implementation of any transaction, it said. Novartis remains deeply committed to India with a footprint that has expanded significantly in recent years, i

The gap between FPI and DII holdings narrowed to an all-time low in December, with DII holdings being 12.2 per cent lower than FPI holdings