IT services company Infosys said on Friday that it was cooperating with an Australian government investigation into ‘tainted contracts’. The software major has also reportedly cut off ties with lobbying firm Synergy 360 – which was reportedly paid $16 million over 5 years to help Infosys grow its business in Australia. An investigation was launched … Read more
After TPG selling it’s entire 2.65% stake in Shriam Finance (SF), now Piramal Enterprises is selling it’s entire 8.34% stake in the Company. Stake is being offered through block deals to the institutional investors Realisation from stake sale is estimated at Rs 4,832 cr and the floor price for the sale is fixed at Rs … Read more
After HDFC Life, Abrdn has quickly exited out of HDFC AMC too. After continuously reducing stake over the years, Abrdn had 10.2% balance stake left in HDFC AMC It has now sold this through open market transactions and realised Rs 4,079 cr The per share realised price is Rs 1,873 which is similar to the … Read more
Timken Singapore Pte Ltd, the parent Company of Timken India (TI) has sold a significant stake of TI. It has sold 7.6 million shares in the open market The consideration for the same is around Rs 2,361.89 crore i.e., abt Rs 3,100/ share which is 11% discount from the previous closing price It’s stake has … Read more
The companies that have been found wrongfully claiming subsidies under the Faster Adoption and Manufacturing of Electric Vehicles (FAME-II) scheme may be debarred from availing of them in the future and may also have to forego sops on electric vehicles (EVs) sold in the last 15 months, The Economic Times (ET) reported on Tuesday. The … Read more
HDFC to comply with the RBI requirements for merger with HDFC Bank has divested out of the education subsidiary, HDFC Credila Financial Services. It is selling approx 90% of Credila to a private equity consortium comprising Barings and ChrysCapital Stake is being sold for a consideration of Rs 9,060 cr valuing the business at about … Read more
The world’s two richest people met for a power lunch in Paris on Friday. Elon Musk and Bernard Arnault, both worth more than $200 billion, dined at the Cheval Blanc hotel. The billionaires were joined by Musk’s mom, Maye, and Arnault’s sons Alexandre and Antoine. “Power lunch” may have a whole new meaning after the … Read more
Narayana Hrudayalaya (NH) is in discussions with the regulator (IRDAI) to get into the health insurance business. The plan is to sell a bundled health insurance package that proposes to offer comprehensive care from outpatient consultations to ordering medicines, to health check-ups, diet, physiotherapy and surgeries. In an interview to ET, Viren Shetty, executive vice-chairman … Read more