Category: News

Billionaire Anil Agarwal-owned Vedanta Limited on September 29 announced creation of independent verticals through demerger of underlying companies, mainly its metals, power, aluminium, and oil and gas businesses to unlock potential value. The Jharsuguda facility, part of Vedanta, is now the world’s largest single-location aluminum smelting plant outside of China, with a capacity of 1.8…

Vedanta Ltd, a subsidiary of Vedanta Resources, has raised Rs 25 billion rupees ($301.06 million)through the sale of bonds maturing in 18 months at sharply higher rates, three merchant bankers said on Friday. The company will offer a coupon of 12%, payable on a quarterly basis to investors of the issue, which is unrated, bankers…

Shares of JSW Steel jumped nearly 1 percent in early trade on September 28 post the acquisition of stake in NSL Green Steel Recycling. At 10:58 am the JSW Steel stock was trading 0.83 percent higher at Rs 786.15 on NSE. JSW Steel has completed the acquisition by purchasing the entire 50 percent stake held by National…

Cholamandalam Investment and Finance Co Ltd is planning to raise approximately Rs 2,000 crore through a qualified institutional placement (QIP). The QIP is expected to open on September 28, offering an option to upsize based on the demand and response from investors, CNBC TV reported on September 28. Floor price for QIP likely to be in…

Yatra Online made a weak debut with its shares listing at a 10 percent discount at Rs 127.50 on the NSE and Rs 130 on the BSE, against the IPO price of Rs 142, on September 28. The stock, however, pared some losses and traded up at Rs 136 on the NSE by noon. Shivani Nyati of…

Shares of Maruti Suzuki India gained 1.6 percent to Rs 10,460 per share in Friday’s intra-day to trade among top Sensex and Nifty 50 gainers in an otherwise weak market. The surge came after global brokerages Citi and Morgan Stanley maintained bullish stance on the counter. In comparison, the S&P BSE Sensex was flat at 66,273…

Glenmark Pharmaceuticals share price fell 2 percent at open on September 22, after the pharma company agreed to divest 75 percent of its stake in subsidiary Glenmark Life Sciences to Nirma. Glenmark Pharma stock was trading at Rs 827.70 on the NSE a close on September 21. At 10 am, the stocks were trading lower by 5…

PSU bank shares made a robust comeback on September 22 after a bruising selloff in the previous session after JPMorgan’s decision to include Indian bonds in its emerging-market index boosted investor sentiment. At 10.10 am, the Nifty PSU Bank index was trading 1.79 percent up at 5,128.25. All its 12 components were trading in the green, led…

Blue Star | CMP Rs 904 | Shares of the company soared 13 percent after the company floated a qualified institutional placement (QIP) issue to raise funds. The floor price for the QIP is set at Rs 784.55 per share, which reflects a 2 percent discount to Monday’s closing price of Rs 800.05. The company,…

Amber Enterprises India Limited announced on September 18 that its material subsidiary, ILJIN Electronics, has entered into a joint venture (JV) agreement with Noise to boost the manufacturing of smart wearables in India. “IL JIN and Noise endeavour to undertake the manufacturing, assembling, and designing of wearables and other smart electronics products and thus contributing strongly towards the Make…