Page 5 - Shares

IndiGo co-founder Rakesh Gangwal may buy stake in SpiceJet? Shares soar

Currently, the promoter group in SpiceJet, which includes Ajay Singh and his family, and Spice Healthcare, own 56.5 per cent stake in the airline

Dividends triumph over buybacks despite potential for higher tax payouts

Share of buybacks in reward kitty drops to lowest in seven years

Shares of Finolex Cables jump over 6% after Supreme Court judgement

Shares of the company last traded at Rs 1,194, up 6.6 per cent over its previous day's close. Experts said traders are lapping up the stock in anticipation of a change in guard at the company

SME stocks to come under additional surveillance, T2T framework: NSE

The process of identifying stocks moving to the TFT segment will be done fortnightly and stocks moving to and from the segment shall be on a quarterly basis

Reliance Retail receives full subscription amount of Rs 2,069 cr from KKR

Reliance Retail Ventures Ltd, the retail arm of Reliance Industries, has received the full subscription amount of Rs 2,069.50 crore from the global investment firm KKR and has allotted 1.71 crore equity shares. Following the share allotment, KKR's shareholding in Reliance Retail Ventures Ltd (RRVL) has increased to 1.42 per cent, from 1.17 per cent. "Reliance Retail Ventures Ltd today received the subscription amount of Rs 2,069.50 crore from Alyssum Asia Holdings II Pte. Ltd. (KKR) and allotted 1,71,58,752 equity shares to KKR," Reliance Industries said in a regulatory filing on Saturday evening. Earlier this month, Reliance Industries had announced KKR's investment of Rs 2,069.50 crore in RRVL, the holding company of the retail business of billionaire Mukesh Ambani-led group, for a 0.25 per cent additional stake at a valuation of about Rs 8.36 lakh crore. Founded in 1976, KKR has approximately USD 519 billion in assets under management as of June 30, 2023. Earlier this month, RI

Ipca Laboratories acquires 19.29% stake in Unichem through open offer

Ipca shares ended the day's trade at Rs 898 apiece, down 1.6 per cent on BSE

IndiGo promoter Shobha Gangwal sells shares worth Rs 2,801 cr

InterGlobe Aviation's promoter Shobha Gangwal on Wednesday sold a nearly 2.9 per cent stake in the company for a little over Rs 2,800 crore through open market transactions. Shobha Gangwal is the wife of Rakesh Gangwal, the co-founder of the company, which is the parent of the country's largest airline IndiGo. The shares were sold in three bulk deal transactions. As many as 3,841,121 shares were sold at a price of Rs 2,426.21 apiece, while 3,841,120 shares were offloaded twice at prices of Rs 2,440.92 and Rs 2,427.09, respectively, as per data available on the BSE. Together, the shares are worth Rs 2,801.79 crore. The total number of shares offloaded translates to around 2.9 per cent stake. The shares were sold at a discount compared to Wednesday's closing price of Rs 2,457.60 apiece on the BSE. At the end of the June quarter, Rakesh Gangwal and his wife Shobha Gangwal had 13.23 per cent and 2.99 per cent stakes, respectively, in the company. The Chinkerpoo Family Trust, whose

Shares of SBFC Finance gains 62% on trading debut, subscribed over 70 times

The company has 152 branches spread across 120 cities and 16 Indian states

IndiGo co-founder's family to sell shares worth up to $450 million

The offer floor price for the sale by Rakesh Gangwal and wife Shobha Gangwal is set at Rs 2,400 per share - nearly a 6% discount on the current market price

China property developers' shares, bonds dive as sector worries deepen

Doubts are growing any official support will be forthcoming, and investors do not expect any aid to be aimed at shareholders

Federal Bank fixes floor price of Rs 132.59 per equity share for QIP

Private sector lender Federal Bank on Wednesday said the board has a fixed floor price of Rs 132.59 per equity share for its proposed Qualified Institutional Placement (QIP). Pursuant to regulation, the bank may at its discretion offer a discount of not more than 5 per cent on the floor price calculated for the issue, Federal Bank said in a regulatory filing. The bank had posted a 42 per cent rise in net profit at Rs 1,147 crore for the June quarter as against Rs 807 crore in the year-ago period. Total income in the first quarter of the current fiscal rose to Rs 5,757 crore from Rs 4,081 crore in the same period a year ago.

Tata Chemicals buys 9.7 mn shares of subsidiary Rallis India for Rs 208 cr

Tata Chemicals on Tuesday said it has acquired 97 lakh shares of its subsidiary Rallis India for Rs 208 crore through a block deal, increasing its stake by 5 per cent to 55.04 per cent. In a regulatory filing, Tata Chemicals said the company acquired 97 lakh equity shares of Rallis India, with face value of Re 1 each, at Rs 215.05 per equity share. This represented 4.99 per cent of the paid-up share capital of Rallis. Agri inputs firm Rallis is into manufacturing, distribution, sales and marketing of crop protection and crop nutrition products, and a variety of field crop and seeds. Recently, Rallis reported a marginal fall in net profit at Rs 63 crore for June quarter as against Rs 67 crore in the year-ago period. Total income fell to Rs 765 crore in April-June of this financial year from Rs 867 crore in the corresponding period of the previous year.

Hathway Cable & Datacom Q1 consolidated net profit up 6.6% to Rs 22.36 cr

Hathway Cable & Datacom Ltd on Monday reported a 6.62 per cent increase in consolidated net profit to Rs 22.36 crore for the quarter ended in June 2023. The company had posted a net profit of Rs 20.97 crore in the April-June period a year ago, Hathway Cable & Datacom said in a BSE filing. Its revenue from operations was 11.63 per cent higher at Rs 499.23 crore during the quarter under review as against Rs 447.18 crore in the corresponding quarter of the last fiscal. Total expenses of Hathway Cable in the first quarter of 2023-24 were up 13.85 per cent to Rs 513.85 crore. Its total income in the June quarter was at Rs 533.37 crore, up 14.75 per cent. Shares of Hathway Cable & Datacom Ltd on Monday settled at Rs 15.80 on BSE, up 3.4 per cent from the previous close.

NSE imposes penalty of Rs 1.67 cr on Angel One for flouting norms

Brokerage house Angel One Ltd has said National Stock Exchange (NSE) has barred it from onboarding new authorised persons (APs) for six months and imposed a Rs 1.67 crore penalty for flouting norms. Reacting to this, shares of Angel One plunged more than seven per cent in intra-day trade. The Member and Core Settlement Guarantee Fund Committee of NSE passed an order on July 14 against the broking company for an alleged failure to monitor the operations of its APs, Angel One said in a regulatory filing to the stock exchanges on Saturday. By doing so, it allegedly flouted the capital market segment rules and Futures and Options segment norms of the NSE. As per the order, a monetary penalty of Rs 1.67 crore has been levied on the broking company. In addition, it has prohibited "from onboarding new APs for a period of 6 months". Authorised person means any -- individual, partnership firm OR LLP -- who is appointed as such by a stockbroker and who provides access to the trading platfor

Property Share facilitates acquisition of Rs 370 cr leased office assets

Property Share, which runs a platform for fractional ownership of real estate, has facilitated investors in acquisition of 5.33 lakh square feet of rented office space in Bengaluru for Rs 370 crore. Property Share, in a statement, said that it has "facilitated the acquisition of Phase I of Prestige Tech Platina, a 5,33,000 square feet Grade A asset in Bengaluru for Rs 370 crore." The minimum investment size was Rs 25 lakh for investors. More than 500 investors participated for acquisition of this asset under fractional ownership model. Established in 2016, Property Share is a technology driven real estate investment platform that allows ordinary users access to institutional grade assets with 8-10 per cent in-place rental yields and 17-20 per cent returns. The office space has been leased to a prominent US-based technology company. Property Share said the deal was closed at a rental yield of 10 per cent (including 1 per cent enhanced yield) with a 7-year lock-in period. This ...

Kinetic Engineering to raise Rs 54 cr from promoters, non-core assets' sale

Kinetic Engineering Ltd on Tuesday said it will raise Rs 54 crore through preferential issue of shares to promoters and sale of non-core assets to cut debt and invest in new business and electric vehicle vertical. The company's board in a recently concluded meeting approved the raising of over Rs 54 crore from various available sources, including promoters and sale of its non-core assets, Kinetic Engineering Ltd (KEL) said in a regulatory filing. "Accordingly, the board approved the issue of 22.85 lakh equity shares on preferential basis, to promoters and promoter group companies totalling Rs 26.27 crore at a price of Rs 115 per share, including a premium of Rs 105 per share," it said. This is the third year in a row where promoters have increased their stake in the company, which will stand at 59.35 per cent. The previous conversions include 9,95,000 shares in 2021-22 and 11,72,879 shares in 2022-23, the company added. The board also approved issuance of Optionally Convertible ...

Maruti shares climb nearly 4%, market valuation up by Rs 10,519.95 cr

Shares of Maruti Suzuki India were in the limelight on Wednesday, climbing nearly 4 per cent, taking its market valuation higher by Rs 10,519.95 crore. The stock rallied 3.61 per cent to settle at Rs 9,994.50 apiece on the BSE. During the day, it jumped 4 per cent to its 52-week high of Rs 10,036.70. On the NSE, it moved up by 3.55 per cent to end at Rs 9,990.10 per piece. During the day, shares of the carmaker advanced 4 per cent to reach its 52-week high of Rs 10,036.95. The stock was the biggest gainer among the Sensex firms. The company's market valuation climbed Rs 10,519.95 crore to Rs 3,01,913.92 crore on the BSE in-line with a surge in its share price. Maruti Suzuki India (MSI) on Wednesday launched the new Invicto at introductory prices ranging from Rs 24.8-Rs 28.4 lakh as it looks to gain a foothold in the premium three-row multi-purpose vehicle segment. The company is looking to double its turnover to around Rs 1.68 lakh crore by 2030-31 from FY22 level in line with pa

Sebi to reduce listing time public issues; to mandate disclosures for FPIs

Markets regulator Sebi on Wednesday approved various proposals, including reducing the time period for the listing of shares in a public issue, mandating additional disclosure requirements for foreign portfolio investors and introducing board nomination rights for unitholders of InvITs and REITs. These were among the seven proposals approved by Sebi's board during its meeting here. The board has cleared reducing the time period for the listing of shares in public issues from the existing 6 days to 3 days from the date of issue closure (T Day). "The revised timeline of T+3 days shall be made applicable in two phases i.e. voluntary for all public issues opening on or after September 01, 2023, and mandatory on or after December 01, 2023," the regulator said in a release. The watchdog will enhance disclosure requirements for Foreign Portfolio Investors (FPIs), including mandating additional granular-level disclosures regarding ownership, economic interest and control of objectively ...

2 entities offload Deepak Fertilisers shares for Rs 131 cr via open market

Two entities on Wednesday offloaded shares of Deepak Fertilisers and Petrochemicals for Rs 131 crore through open market transactions. The entities are SmallCap World Fund Inc and Anirudh Damani. According to the bulk deal data available with the NSE, SmallCap World Fund Inc sold 23,54,000 shares, amounting to 1.86 per cent stake in Deepak Fertilisers and Petrochemicals. Also, Damani disposed of 42,943 shares in the firm, as per the data. The shares were offloaded in the range of Rs 548.42-550.57 apiece, taking the transaction value to Rs 131.46 crore. Post the latest transaction, SmallCap World Fund's shareholding has been reduced to 3.08 per cent from 4.94 per cent (as per March 2023) equity in the firm. Meanwhile, Damani bought 8,70,743 shares at an average price of Rs 548.45 apiece of the company. On Wednesday, Deepak Fertilisers and Petrochemicals gained 1.56 per cent to close at Rs 568 per piece on the NSE.

GQG Partners buys Max Healthcare shares for Rs 415 cr via open market

GQG Partners on Monday acquired shares of hospital chain Max Healthcare Institute for Rs 415 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), GQG Partners Emerging Markets Equity Fund bought 75,50,000 lakh shares of the firm. The shares were purchased at an average price of Rs 549.70 apiece, taking the transaction value to Rs 415 crore. Details about the sellers could not be immediately ascertained. Shares of Max Healthcare Institute gained nearly 1 per cent to close at Rs 550.45 apiece on the NSE. During the day, the scrip also touched its 52-week high of Rs 558.85 per share on the bourse. In a separate bulk deal, Morgan Stanley Investment Funds offloaded 9.60 lakh shares of Gland Pharma for Rs 89 crore. Morgan Stanley Investment Funds Emerging Markets Equity Fund sold 9,60,271 shares at an average price of Rs 930.69 apiece. This took the deal value to Rs 89.37 crore. On Monday, shares of Gland Pharma tu