NEWS
On November 22, 2024, VIP Industries Limited responded to a news on November 21, 2024. The article, titled “VIP Ind up 7% on reports Advent Int’l may acquire controlling stake,” suggested that private equity firm Advent International might acquire a controlling stake in VIP Industries. The report triggered a notable rise in the company’s stock…
The Board of Directors of Wipro Limited approved a bonus share issue on October 17, 2024, followed by shareholder approval via a remote e-voting process on November 21, 2024. Bonus Share RatioThe bonus shares will be issued at a 1:1 ratio, meaning shareholders will receive one bonus share for every existing share held. Eligible shareholders…
In a significant legal development, the United States Department of Justice and the US Securities and Exchange Commission (SEC) have filed both a criminal indictment and a civil complaint against Gautam Adani and two other directors of Adani Green Energy Limited. The charges have been filed in the US District Court for the Eastern District…
BEML Limited, a public sector enterprise under the Ministry of Defence, has secured a major order worth ₹246.78 crore from Central Coalfields Limited (CCL), marking a significant achievement for the company in the mining sector. Key Highlights: Order Details: BEML will supply 48 BH60M Rear Dump Trucks to CCL, along with spares, consumables, and after-sales…
Today, the United States Securities and Exchange Commission (SEC) charged Gautam Adani, chairman of the Adani Group, with allegedly paying $265 million in bribes to Indian government officials. These payments were purportedly made to secure contracts for Adani Green Energy, the renewable energy subsidiary of the conglomerate. The SEC also accused Adani of misleading U.S….
Zodiac Energy Limited (Zodiac) has entered into a Memorandum of Understanding (MOU) with the State Bank of India (SBI) on November 19, 2024. The company announced the MOU in letters to BSE Limited and the National Stock Exchange of India Limited on November 20, 2024. Purpose of the MOU: The primary objective of this MOU…
UPL Limited has announced the partial divestment of its stake in Advanta Enterprises Limited (AEL), a subsidiary specializing in the seed business. Currently, UPL holds an 86.67% stake in AEL, with KKR owning the remaining 13.33%. Transaction Details: UPL’s board has approved the sale of an 8.93% stake in AEL to Alpha Wave Ventures II,…
Finance Minister Nirmala Sitharaman, speaking at the 11th SBI Banking and Economics Conclave 2024, highlighted the challenges posed by high borrowing costs. She urged banks to make interest rates more affordable to enable industries to scale up and build capacities. Currently, the Reserve Bank of India’s (RBI) repo rate stands at 6.50 percent and has…
The broking industry is facing significant challenges due to recent regulatory changes, particularly impacting discount brokers. Key changes include: Restrictions on Utilizing Traders’ Funds:Previously, brokers could retain traders’ unused funds in their accounts and earn interest on them. However, new regulations require brokers to transfer these funds back to traders’ bank accounts, cutting off a…
NSE:MGLL:Rs.1,128.35(-14.04%) and NE:IGL:Rs.325.30(-9.84%) at 18-Nov-2024 at 3.30 pm Today, shares of IGL and MGL experienced a significant crash. These two companies, which are city gas distributors operating in Gujarat and Maharashtra, were severely impacted by recent GAIL & ONGC decision. GAIL, which had been supplying gas to these companies at lower prices, reduced Administered Price Mechanism…