Rakesh Gangwal to sell $804 million worth IndiGo stake through block deal: Report
Rakesh Gangwal, co-founder of InterGlobe Aviation, plans to sell up to $804 million in shares via a block deal, with a floor price of Rs 4,593 each, a 5.5% discount to the current market price. This move follows his previous stake reduction and Shobha Gangwal’s exit.
Tencent likely to sell 2.1% stake in PB Fintech via block deal for Rs 1,610 crore: Report
The floor price for the issue is set at Rs 1,660.2 per share, a 4.4% discount to Wednesday’s closing price. Tencent, which held a 4.6% stake in the Policybazaar parent company as of June 30, 2024, is reportedly selling its stake.
Tata Steel acquires 178 crore shares in Singapore arm TSHP for USD 280 million
Tata Steel on Wednesday said it has acquired about 178 crore additional equity shares of T Steel Holdings Pte Ltd for USD 280 million, taking the total fund infusion into its Singapore-based arm to USD 1,337 million.
Sebi issues warning against SME stocks as IPOs leave investors dumbfounded
Sebi highlighted that certain corporate actions can artificially boost investor sentiment, leading to increased stock purchases. This, in turn, allows promoters to sell their shares at inflated prices. The regulator cautioned investors against relying on unverified social media posts and rumours when investing in SME stocks. Instead, investors should exercise caution and be mindful of […]
Market cap overhang a challenge for potential listing: PhonePe
Walmart-backed fintech major PhonePe on Wednesday said the market cap overhang is a challenge for the potential listing of the company and can not go to the market based on the current numbers and market share. He also said the company plans to enter the European market in the next five years.
Tech View: Nifty needs decisive move above 25,100 for uptrend. Here’s how to trade on Thursday
The index is still trending upwards, though a minor dip or consolidation could lead to a breakout above 25,100, opening the way for a potential target of 25,360. Support is around 24,800-24,750, according to Nagaraj Shetti of HDFC Securities.
What does the scrappage policy mean for auto companies? Abhishek Gaoshinde explains
Abhishek Gaoshinde says India’s scrappage policy aims to transition from an unorganized to an organized system, providing incentives for replacing older vehicles with new ones to curb pollution and foster a recycled economy. The policy remains voluntary, with its success contingent upon the value perceived by vehicle owners opting for the scheme.
Kotak Mahindra Bank, Mphasis among 10 stocks where mutual funds increased stake in Q1
Mutual funds have raised their stakes in ten key companies from the Nifty200 index during Q1 FY25. Stocks such as Mphasis, Gland Pharma, and Indus Towers saw significant increases. Other notable climbs were registered in Vodafone Idea, Jubilant FoodWorks, and Kotak Mahindra Bank, indicating growing investor confidence.
Billionaire Raamdeo Agrawal picks up stake in IPO-bound Swiggy, Zepto
This news highlights Agrawal’s growing interest in emerging businesses, particularly as the quick commerce sector experiences significant momentum in fundraising. According to an ET report, the family office of Bollywood superstar Amitabh Bachchan has also acquired a small stake in Swiggy. This was done by purchasing shares from the food delivery and quick-commerce company’s employees […]
Jefferies upgrades Zydus Life to ‘Buy’ on strong US pipeline potential, stock up 4%
Global brokerage firm Jefferies has upgraded Zydus Lifesciences to a ‘Buy’ rating, citing the strength of the company’s US pipeline as a major growth driver. Jefferies raised its target price to Rs 1,450 from Rs 1,210, indicating a 30% upside from the previous closing price of Rs 1,113.80.