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RIL, Bajaj Holdings, VST Industries in spotlight

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Reliance Industries (RIL) and Jio Platforms announced today that KKR will invest Rs 11,367 crore into Jio Platforms. This transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. This is KKR's largest investment in Asia and will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis. Over the last month, leading technology investors, such as, Facebook, Silver Lake, Vista, General Atlantic and KKR have announced aggregate investments of Rs 78,562 crore into Jio Platforms. Jio Platforms is a wholly-owned subsidiary of Reliance Industries.

Bajaj Holdings & Investment's consolidated net profit dropped 54.34% to Rs 361.41 crore on 25.21% fall in total income to Rs 636.57 crore in Q4 March 2020 over Q4 March 2019.

VST Industries net profit rose 33.15% to Rs 70.61 crore on 7.2% rise in total income to Rs 303.81 crore in Q4 March 2020 over Q4 March 2019.

Quick Heal Technologies' consolidated net profit dropped 71.21% to Rs 7.99 crore on 23.3% fall in total income to Rs 72.50 crore in Q4 March 2020 over Q4 March 2019.

Nahar Spinning said that consequent upon receipt of approval from the concerned authorities in the State of Punjab and Madhya Pradesh, the company's manufacturing facilities in the State of Punjab and Madhya Pradesh has partially resumed its operations, subject to fulfilment of certain conditions.

Automotive Axles said that the company has resumed offices and manufacturing locations at Jamshedpur with effect from 20 May 2020 and at Hosur with effect from 6 May 2020 with all precautionary measures including the safe distancing and criteria's as per the government norms.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 22 2020. 08:12 IST