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Adani Enterprises has withdrawn the scheme of demerger of its food FMCG business into Adani Wilmar, a move that would have brought Adani Wilmar under the control of the promoters of the Adani Group. The company said its board had decided to withdraw the scheme of arrangement between it and Adani Wilmar (AWL), owing to the latter having to comply with the minimum public shareholding (MPS) requirements. “During the period in which AWL was implementing the MPS strategy, in accordance with the relevant SEBI circulars in order to offer directional clarity to shareholders, the draft scheme is hereby withdrawn,” the company said.
Oil marketing companies such as HPCL, BPCL and IOC will remain nf focus, as State-owned fuel retailers on Tuesday hiked commission they pay to petrol pump dealers but there will be no change in retail petrol and diesel prices. Petrol and diesel prices will, in fact, fall in states such as Odisha, Chhattisgarh, and Himachal Pradesh due to a rationalisation of intra-state freight. IndianOil is pleased to announce a revision in the dealer margins (effective from 30th October 2024), following the resolution of a pending litigation. This will have no additional impact on the Retail Selling Price of products,” Indian Oil Corporation (IOC) – the market leader — said in a post on X.
Gold jewellery-focused Sky Gold on Tuesday announced a Rs 270 crore capital raise from Kotak Mahindra Life Insurance, Motilal Oswal MF and Bank of India Mutual Fund. The listed company also announced the addition of two clients, including Titan subsidiary Caratlane and P N Gadgil Jewellers. The company raised Rs 270 crore through an equity sale to domestic institutions including the insurer and two asset managers, a statement said.
HDFC Standard Life Insurance Co on Tuesday bought shares of PNB Housing Finance worth Rs 90 crore through an open market transaction. According to the block deal data available on the BSE, HDFC Standard Life Insurance Company Ltd purchased a little over 10 lakh shares or 0.4 per cent stake in PNB Housing Finance at an average price of Rs 900 apiece. Asia Opportunities V (Mauritius) Ltd was the seller.
The competition watchdog CCI has approved Fortis Healthcare’s proposal to acquire an additional 31.52 per cent stake in Agilus Diagnostics. Multi-speciality hospital chain Fortis Healthcare Ltd (FHL) is engaged in providing integrated healthcare delivery services like medicare, healthcare and diagnostics. The diagnostics services business of FHL is being undertaken primarily through Agilus.
NTPC has commenced commercial operations of a 32.90 MW solar plant in Rajasthan. The Shambu ki Burj -2 (Kolayat) Solar PV Project at Bikaner in Rajasthan is owned and operated by its wholly-owned subsidiary NTPC Green Energy Ltd, NTPC said in an exchange filing.
Reliance New Energy, a subsidiary of Reliance Industries, now holds a full 100% equity stake in Faradion after acquiring the remaining shares from existing shareholders on October 28.
According to market buzz that Torrent Investments, one of the promoters of Torrent Pharmaceuticals, is planning to sell up to 2.9 per cent stake in open market. The floor price for the sale is said to be at Rs 3,022.71 per share, with a base size of Rs 2,500 crore and an upsize option of Rs 500 crore. The stock on Tuesday closed at Rs 3,210.95. As of September 2024, Torrent Investments held a 71.25% stake in Torrent Pharma.
RITES has signed a Memorandum of Understanding (MoU) with SAIL-Bokaro Steel Plant (SAIL-BSL), part of the Ministry of Steel, to collaborate on project management consultancy for rail connectivity works. This partnership will focus on consultancy services for both existing and new railway tracks at various sites within the Bokaro Steel Plant in Jharkhand.
Results Calendar: Larsen & Toubro, Tata Power, Dabur India, Biocon, Aditya Birla Capital, 3i Infotech, Aeroflex Industries, AGS Transact Technologies, AIA Engineering, Automotive Axles, Carborundum Universal, D-Link India, DCM Shriram, Grindwell Norton, IRB Infrastructure Developers, KIOCL, KRN Heat Exchanger and Refrigeration, The New India Assurance Company, Paisalo Digital, Procter & Gamble Hygiene & Health Care, Protean eGov Technologies, Prudent Corporate Advisory Services, Sterlite Technologies,TCI Express, TTK Prestige, Vardhman Textiles, and WPIL.
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Published on October 30, 2024
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