Page 4 - Shares

Early Tesla bulls giving up on stock, as doubt on future growth loom

The company's shares are down nearly 30 per cent this year and have fallen by more than 50 per cent since their 2021 high

Honeywell Automation shares rally 8%, hit 52-week high amid strong Q4 show

Honeywell Automation's board announced a final dividend of Rs 100 per share for the fiscal year 2024 while releasing its Q4FY24 results

Route Mobile public shareholders tender shares worth Rs 2,500 crore

Enterprise messaging firm Route Mobile's public shareholders have tendered shares worth about Rs 2,500 crore at current price for the company's ongoing open offer, according to a regulatory filing. The open offer has been triggered with Belgium-based Proximus Group, through its subsidiary, initially acquiring a 57.56 per cent stake in enterprise messaging firm Route Mobile for Rs 5,922.4 crore in an all-cash deal. The acquisition has triggered an open market offer for the sale of 26 per cent of Route Mobile in compliance with regulatory guidelines. Depending on the outcome of the MTO (mandatory takeover offer), the stake held by Proximus Opal could further increase to around 75 per cent of Route Mobile's shares. "1,57,68,803 equity shares have been tendered in the Escrow Demat Account (with The Hongkong and Shanghai Banking Corporation Limited (HSBC)," Route Mobile said. The tendered period has closed now. Shares of Route Mobile closed at Rs 1,600.65 apiece, down 0.54 per cent, a

US-based Baron Capital boosts Swiggy's valuation to $12.1 billion

New valuation is above the $11 billion IPO valuation target that Swiggy is eyeing

Reliance Capital to be delisted from stock exchanges, shares drop 4.46%

RCL said that the National Company Law Tribunal in its approved resolution plan for the company is contemplating delisting of existing equity shares from the exchanges

Carlyle shares jump 10% after drop in Q4 earnings exceeds estimates

Carlyle said its net profit from asset sales fell nearly 44% to $257.7 million, as market volatility, high interest rates and geopolitical tensions weighed on its ability to cash out investments

Godrej Agrovet Q3 results: Profit falls 21% to Rs 91.84 cr on lower demand

Consolidated net profit fell to Rs 91.84 crore ($11.1 million) for the three months ended Dec. 31 from Rs 116 crore a year earlier, the company said in an exchange filing

Premji gifts 10 mn equity shares of Wipro worth over Rs 480 cr to his sons

Wipro founder Azim Premji has transferred 1.02 crore equity shares of Wipro held by him to his two sons --Rishad Premji and Tariq Premji-- as 'gift', according to exchange filing. The Wipro scrip is currently valued at Rs 472.9 per share, and at roughly this value, the transferred shares will amount to a whopping Rs 483 crore. Tech magnate Azim Premji's son Rishad Premji currently helms Wipro as its Executive Chairman, and is a prominent face of the IT industry. "I, Azim H Premji, wish to intimate you that 1,02,30,180 equity shares of Wipro Limited held by me, amounting to 0.20 per cent of the share capital of the company were transferred to Rishad Azim Premji and Tariq Azim Premji in the form of gift," Wipro filing on Wednesday said. The transaction, however, would not alter the overall promoter and promoter group shareholding in the company and it will remain the same even after the proposed transaction. In another filing by Wipro, Rishad Premji informed that 51,15,090 equity ..

Unilever's US, European market share slips as private label booms

Unilever's underlying price growth was 13.3% at its height in the fourth quarter of 2022, with prices at its home care business up nearly 17%

Motilal Oswal shares jump 11% after it reported 191% profit growth in Q3

The jump in profit was aided by comparatively lower growth in expenses

Adani Group raises stake in IANS, subscribes to fresh shares worth Rs 5 cr

IANS has an authorised share capital of Rs 11 crore, and a revenue of Rs 11.86 crore in FY23

Polycab India's stock sees 21% rout on allegations of tax evasion

Company refutes allegations; stock may underperform in near term

US-based Capital Group sells Polycab India's shares worth Rs 337 crore

Financial Services company Capital Group on Thursday sold shares of electrical goods company Polycab India for Rs 337 crore through an open market transaction. US-based Capital Group through its affiliate SmallCap World Fund Inc offloaded shares of Polycab India on the National Stock Exchange (NSE). According to the bulk deal data with the NSE, SmallCap World Fund Inc disposed of 8,51,003 shares of Polycab India. The shares were offloaded at an average price of Rs 3,955.87 apiece, taking the deal value to Rs 336.64 crore. Details of the buyers could not be ascertained. On Thursday, the scrip of Polycab India nosedived 20.50 per cent to close at Rs 3,904.70 per piece on the NSE.

Bajaj Auto board approves Rs 4,000 cr share buyback at Rs 10,000 apiece

The company will be buying 4 million shares via the tender route, representing 1.41 per cent of Bajaj Auto's outstanding shares

Tata Steel fixes Jan 19 as record date to allot shares to TCIL shareholders

Tata Steel has fixed January 19 as the record date to determine the shareholders of TCIL, for allocating the company's shares as per the scheme of amalgamation. Tata Steel is in the process of merging several of its subsidiary companies, including Tinplate Company of India Limited (TCIL), into itself. "The Board has approved Friday, January 19, 2024, as the record date for the purpose of determining the shareholders of TCIL who shall be entitled to receive fully paid-up ordinary equity shares of the company in the share exchange ratio as per the scheme of amalgamation," Tata Steel said in a BSE filing on Monday. The company will issue and allot fully paid-up equity shares to those shareholders of TCIL, whose names would appear in the register of members on the record date, in ratio of 33 fully paid-up equity shares of Re 1 each for every 10 fully paid-up shares of Rs 10 each held by such members in TCIL, it said. Tata Steel is among the top three steel-producing companies in India

Record buyback of Rs 47,810 cr by 48 firms in 2023, highest in 6 yrs

A buyback is a process a company employs to repurchase its shares from stakeholders

Only a successor has claim over shares, not a nominee: Supreme Court

The court said that the succession of these instruments (shares and debentures) will be determined by the deceased's Will or as maintained by succession laws

Bharti Telecom acquires 1.35% stake in Bharti Airtel through block deal

Bharti Telecom's stake in Bharti Airtel now stands at 39.59 per cent

Megastar Foods plans to raise Rs 42 cr through preferential issue of shares

Food processing firm Megastar Foods Ltd plans to raise Rs 42.38 crore through the issue of preferential shares to pre-pay debt and meet future requirements of funds. The company's board approved to create, issue, offer and allot up to 13 lakh shares of Rs 10 each on a preferential basis to the promoters/non-promoters/public category shareholders of the company, according to a regulatory filing on Thursday. The company would seek the approval of the shareholders at the extra ordinary general meeting. "The proceeds of the preferential issue will be utilised for prepayment of borrowings of the company, meeting future funding requirements, working capital and other general corporate purposes of the company," the filing said. The equity shares under this preferential issue would be made at an issue price of Rs 326 per equity share. The company intends to raise Rs 42.38 crore through this issue. Megastar Foods has a wheat processing plant in Punjab. Its turnover stood at Rs 304.40 crore

BASF India posts first profit growth in six quarters at Rs 149 crore

Weak global demand due to inventory destocking and lower rates of Chinese supplies have hurt chemicals makers