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YES Bank up 20% in 2 days on RBI nod to proceed with Carlyle, Verventa deal

YES Bank up 20% in 2 days on RBI nod to proceed with Carlyle, Verventa deal

Monday, December 12, 2022

Shares of YES Bank jumped 7 percent to Rs 21.10 to hit a 29-month high on the BSE in Monday’s intra-day trade on the back of heavy volumes while surging 19.7 percent over two sessions of trade. YES Bank stock has been rising since Friday when the bank received approval from the RBI to raise fresh capital from Verventa Holdings and Carlyle Group, an affiliate of funds managed by Advent International. The RBI gave approval to each investor with respect to the proposed acquisition by each of them up to 9.99 percent of paid-up share capital of the bank through subscription to equity shares and share warrants of the Bank vide separate letters dated November 30, 2022. This fundamentally strong news is expected to improve the asset quality of the bank, which has attracted attraction of market bulls." Read more

PVR slips 5% after mega block deals

PVR slips 5% after mega block deals

Thursday, September 15, 2022

Shares of PVR dropped 5 percent to Rs 1,838 on the BSE in Thursday’s intra-day trade, after investors offloaded a 9 percent stake in the company via a block deal on Thursday. The investors who sold stakes in the company were - Multiples PE, Gray Birch, Plenty PE, and Berry Invt, the news channel reported. As per June 2022 shareholding pattern, Gray Brich Investment held 2.2 million (3.6 percent), while Plenty Private Equity FII held a 1.52 million (2.5 percent) stake in PVR. combined 10.25 million equity shares, representing 16.78 percent of the total equity of PVR, changed hands on the NSE and BSE, data shows. With Thursday’s decline, the stock corrected 17 percent, from its 52-week high level of Rs 2,211.55, that it had touched on August 4, 2022. The stock had been gaining after massive earnings from the movie Brahmastra. Read more

Devyani International Plunges 7% amid bulk deal reports

Devyani International Plunges 7% amid bulk deal reports

Tuesday, August 23, 2022

Shares of Devyani International (DIL) tanked 7 percent to Rs 182.50 on the BSE in Tuesday’s intra-day trade. This comes after it saw a huge block deal change hands. Around 26.4 million shares or 2.33 percent stake of the company changed hands, according to a Bloomberg report. However, the details of buyers and sellers were not known by the time of writing this report. As of June 30, 2022, the promoters held a 62.80 percent stake in DIL. Among the public shareholders, Dunearn Investments (Mauritius) Pte Ltd held 98 million shares or 8.13 percent holding in the company, the shareholding pattern data shows. Earlier, CNBC TV reported that Dunearn Investments (Mauritius) Pte Ltd is likely to sell a nearly 3 percent stake at Rs 182-196.25 per share. The base offer was expected at 2.6 crore shares (2.19 percent equity) with an upsize option of 87.76 lakh shares ( 0.73 percent equity). The total deal size is expected at $80-86 million. Read more

HDFC AMC surges after 6 percent equity change hands on BSE

HDFC AMC surges after 6 percent equity change hands on BSE

Tuesday, August 16, 2022

Shares of HDFC Asset Management Company (AMC) surged 12 percent to Rs 2,185.30 on the BSE in Tuesday’s intra-day trade after nearly 6 percent of the total equity of the company changed hands via block deals. As many as 1.3 crore shares, or nearly 6 percent stake in the company worth Rs 2,520 crore, changed hands on the BSE at Rs 1,951 apiece, ABRDN Investment Management Limited (Formerly Standard Life Investments Limited), one of the promoters of HDFC AMC, held 16.21 percent stake in the company as on June 30, 2022, the shareholding pattern data shows. On September 29, 2021, Standard Life Investments Limited sold 10.65 million shares of HDFC AMC on the BSE at an average price of Rs 2,873.79 per share. Standard Life Investments held a 21.23 percent stake in the company as of June 30, 2022, as per BSE data.The block deal in the stock comes after a strong rally in the counter over the last three months. Shares of the asset manager have risen 21.5 percent in the past 90 days on the back of Read more

Vedanta raises 8 percent on reports of multiple block deals

Vedanta raises 8 percent on reports of multiple block deals

Tuesday, November 23, 2021

Vedanta surged nearly 8 percent to a high of Rs 354 in early deals on the BSE on Tuesday after nearly 7 percent of the total equity of the metal company changed hands via multiple block deals. The stock has rallied 15 percent in the past two trading days in an otherwise weak market. The promoters were looking to increase their stake by up to 4.57 percent amid efforts to restructure the organization and spin-off several businesses. Twin Star Holdings and Vedanta Netherlands Investments B.V will buy around 17 crore shares amounting to a 4.57% stake in a block deal. The offer is priced at Rs 350 per share—a 6.6% premium to the share’s closing price on Monday—valuing the transaction at Rs 5,950 crore. The deal will take place through the accelerated book-building method, with JP Morgan India Pvt. serving as a broker to the promoters. Read more

India and Taiwan Talks on $7.5-billion chip plant, trade deal on a fast track

India and Taiwan Talks on $7.5-billion chip plant, trade deal on a fast track

Monday, September 27, 2021

India and Taiwan are in talks on an agreement that could bring chip manufacturing to South Asia along with tariff reductions on components for producing semiconductors by the end of the year. Officials in New Delhi and Taipei have met in recent weeks to discuss a deal that would bring a chip plant worth an estimated $7.5 billion to India to supply everything from 5G devices to electric cars, the people said. India is currently studying possible locations with adequate land, water, and manpower while saying it would provide financial support of 50% of capital expenditure from 2023 as well as tax breaks and other incentives, the people said. Officials in Taipei wanted quick progress on a bilateral investment agreement that would include tariff reductions on dozens of products used to make semiconductors - a precursor to a broader trade deal also under consideration, according to the sources.

Zee Entertainment to merge with Sony Pictures Networks India

Zee Entertainment to merge with Sony Pictures Networks India

Wednesday, September 22, 2021

Zee Entertainment Enterprises (ZEEL) zoomed 39 percent to Rs 355.35 on the National Stock Exchange (NSE) in the intra-day trade on Wednesday after the company announced a merger with Sony Pictures India.ZEEL said on Wednesday that its board of directors has unanimously provided in-principle approval for the merger with Sony Pictures Networks India (SPNI). Zee, which has a presence in television broadcasting and digital media with brands such as Zee TV, has been under pressure from top investors for a management reshuffle, including the exit of Chief Executive, Punit Goenka, from the board. Sony Pictures Networks India (SPNI) and ZEEL have signed an exclusive, non-binding term sheet to combine the companies' linear networks, digital assets, production operations, and program libraries, the companies said on Wednesday.SPNI will also infuse $1.575 billion in the entity, ZEEL said in a filing. Read more

FRL-RIL deal: SC asks NCLT, CCI, Sebi not to pass final orders for 4 weeks

FRL-RIL deal: SC asks NCLT, CCI, Sebi not to pass final orders for 4 weeks

Thursday, September 9, 2021

Today (9th Sept.2021) The Supreme Court of India stayed all the proceedings before the Delhi High Court for four weeks related to the implementation of an award by Singapore's Emergency Arbitrator (EA) restraining Future Retail Ltd (FRL) from going ahead its Rs 24,731 crore merger deal with Reliance Retail. A bench headed by Chief Justice N V Ramana, in a consent order, also directed the statutory authorities like National Company Law Tribunal (NCLT), Competition Commission of India (CCI), and market regulator Sebi not to pass any final order related to the merger deal for next four weeks. It considered the statements of senior advocates Harish Salve and Mukul Rohatgi, appearing for FRL and Future Coupons Private Ltd (FCPL) respectively, that the arbitrator has reserved the final verdict in the case after hearing both sides. Read more

MARKET UPDATE:Sensex slid 350 points to 51,960 levels and Nifty around the 15,550-mark

MARKET UPDATE:Sensex slid 350 points to 51,960 levels and Nifty around the 15,550-mark

Monday, June 21, 2021

The benchmark indices in India fell over half a percent in early deals today(21st June 2021), tracking weak cues from other Asian markets. The S&P BSE Sensex slid 350 points, or 0.68 percent, to 51,960 levels and the broader Nifty50 index was around the 15,550-mark. ICICI Bank fell 2 percent and was the top Sensex laggard, followed by Mahindra & Mahindra, State Bank of India, and IndusInd Bank (all down over 1%). The Nifty sectoral indices were painted red, with Nifty Metal and Nifty PSU Bank indexes, down 2 percent each, bleeding the most. The S&P BSE MidCap and SmallCap indices traded 0.9 percent and 0.7 percent down in the broader markets, respectively. Seventy companies, including Oil India, Info Edge, Bharat Dynamics, TCNS Clothing, and VST Tillers Tractors, are slated to post their quarterly numbers.

Sun Pharma hits new high after getting licence to produce low-cost COVID-19 drug

Sun Pharma hits new high after getting licence to produce low-cost COVID-19 drug

Tuesday, May 11, 2021

Shares of Sun Pharmaceutical Industries hit a 52 week high of Rs 721.85, up 3 percent on the BSE in intra-day trade on Tuesday after it signed an agreement with Eli Lilly to manufacture its drug, Baricitinib in India. "Sun Pharma yesterday announced that it has entered into a royalty-free, non-exclusive voluntary licensing agreement with Eli Lilly and Company for expanding access to Lilly's drug, Baricitinib in India. "Baricitinib is used in combination with Remdesivir for the treatment of suspected or laboratory-confirmed COVID-19 in hospitalized adults requiring supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO). The drug is approved by the Central Drugs Standard Control Organization (CDSCO) for restricted emergency use in India,"This is another step by Sun Pharma towards making more treatment options available to patients in India dealing with the pandemic, Sun Pharma added. Read more

Hikal hits upper circuit on signing 10-year deal with global pharma Co

Hikal hits upper circuit on signing 10-year deal with global pharma Co

Wednesday, May 5, 2021

Shares of smallcap firm Hikal on Wednesday, rallied 10 percent to Rs 313.65, and touched a new high, on the BSE in intra-day trade after the company signed a multi-year contract with a leading global pharmaceutical company for the development and supply of a portfolio of niche active pharmaceutical ingredients (APIs) over a period of 10 years. The development will start this year and commercial supplies will commence post successful development and plant commercialization estimated to be in FY 2024 onwards. With this deal, Hikal is entering into a niche area of chemistry and products thereby bolstering its Animal Health vertical. Hikal and its customer will be jointly investing at its Panoli, Gujarat site to set up a multipurpose manufacturing asset for manufacturing of these APIs, it said. Read more

Future group stocks fall sharply as deal with Reliance deal on hold

Future group stocks fall sharply as deal with Reliance deal on hold

Friday, March 19, 2021

Shares of Kishore Biyani-led Future group companies, on Friday, were locked in their respective lower circuit, with no buyers seen on the counters, after the Delhi High Court upheld the Emergency Award passed against the $3.4-billion Future-Reliance deal. The company's shares plummeted a day after the Delhi High Court upheld the Emergency Award (EA) order passed by the Singapore International Arbitration Centre (SIAC) against Future Retail's Rs 24,713 crore deal with a subsidiary of Mukesh Ambani’s Reliance Industries Limited (RIL). As part of the deal, Reliance was supposed to acquire Future’s retail, logistics and warehousing businesses. But global e-commerce giant Amazon had opposed the Future-RIL deal soon after it was announced last year and subsequently secured the EA award against the deal from the Singapore arbitrator. Not just Future Retail but shares of several other Future Group companies fell on the stock market.

India Inc goes on M&A spree despite pandemic in 2020, New year will be brighter

India Inc goes on M&A spree despite pandemic in 2020, New year will be brighter

Thursday, December 31, 2020

Indian conglomerates bought and sold companies in record-breaking deals despite a majority of smaller firms ending the year on a dull note. Many corporate India is ending 2020 with battered sales and profits due to the pandemic while a few top companies saw a phenomenal rise in their market valuation. The year 2020 will be remembered for the billions of dollars’ worth of investments reported by Reliance Industries by selling a stake in its telecom services arm, Jio Platforms. As soon as the Mukesh Ambani-led firm stopped selling stakes in Jio, global investors queued up to invest in its organised retail arm, making the company virtually debt-free. Backed by billions of dollars of investments from marque global investors, Ambani then acquired Future group’s entire retail and wholesale business for Rs 25,000 crore, giving the group a significant lead in organised retail. Read more

HCL Tech Q2 profit rises 18.5% to Rs 3,142 crore, share price falls post Q2 result

HCL Tech Q2 profit rises 18.5% to Rs 3,142 crore, share price falls post Q2 result

Friday, October 16, 2020

HCL Technologies share price fell 4.4 % to Rs 821 apiece on BSE after the IT company announced July-September quarter results. HCL Tech Q2 net profit came at Rs 3,142 crore in July-September quarter, rising 18.5 per cent year on year and up 7.4 per cent on a sequential basis. The company had posted a net profit of Rs 2,651 crore in the corresponding period of the last year. Revenue for the quarter rose 6.1 per cent YoY to Rs 18,594 crore compared with Rs 17,528 crore sales the company reported in the year-ago quarter. The operating margin of the IT services provider improved 110 basis points sequentially to 21.6 per cent in the July-September period—a 22-quarter high. The dollar revenue growth stood at 6.4% at 2,507 million and the company posted constant currency revenue growth at 4.5 per cent. The company has also declared an interim dividend of Rs 4 per equity share of Rs 2 each for FY21. The company has signed 15 transformational deals in the quarter ended September 2020 Read more

Facebook signs global licensing deal with Indian music label Saregama

Facebook signs global licensing deal with Indian music label Saregama

Thursday, June 4, 2020

Shares of Saregama India were locked in upper circuit for the second straight day, up 20 per cent at Rs 401 on the BSE on Thursday after the company announced that Facebook has entered into a global deal with Saregama, one of India’s oldest and largest music labels, to license its music for video and other social experiences across its eponymous service and Instagram. Saregama India shares have surged over 45 per cent since Monday’s close of Rs 275.25 per share. “This partnership will allow users to choose from a wide variety of music to add to their social experiences such as videos, stories via music stickers and other creative content. People will also be able to add songs to their Facebook Profile,” Saregama said in a press release. Formerly known as 'The Gramophone Company of India Ltd', Saregama owns the largest music archives in India, one of the biggest in the world. With today’s rally in the stock, the market capitalisation of Saregama India stands at Rs 698.26 crore. Read more

MARKET UPDATE: Sensex, Nifty volatile; RIL gains post Jio-Facebook deal

MARKET UPDATE: Sensex, Nifty volatile; RIL gains post Jio-Facebook deal

Wednesday, April 22, 2020

Equity markets in India today (22nd April 2020)fluctuated in early trade as the gains in Reliance Industries were offset by selling in banks and metal stocks amid weak global cues. Shares of Reliance Industries (RIL) gained 7 percent at Rs 1,326 on the BSE after the company announced that Facebook would invest Rs 43,547 crore ($5.7 billion) in the company’s wholly-owned subsidiary Jio Platforms to expand its presence in India. Among headline indices, the S&P BSE Sensex was up 27 points at 30,660 levels and the Nifty50 was hovering around the 9,000 mark. ONGC, down over 7 percent, was the top laggard in the Sensex pack. The Nifty sectoral indices were mixed, with the Nifty Metal index, down 2 percent, leading the list of losers.

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