British telecom giant Vodafone is in discussions to sell around five per cent stake in Indus Towers to Bharti Airtel, according to industry sources. When contacted, Vodafone refused to comment on the matter. Vodafone currently holds about 28 per cent in Indus Towers. The industry sources said that Vodafone is in talks to sell its … Read more
Crompton Greaves Consumer Electricals (CGCE) has announced acquiring a controlling stake in Butterfly Gandhimathi Appliances (BGA). Key points to note: CGCE is acquiring 55% stake from BGA’s promoter group @ Rs 1,403/ share Consideration value for this tranche comes to Rs 1,379.68 crore Promoters total stake in BGA is currently 64.78%. Balance not selling may … Read more
Finance Minister Nirmala Sitharaman said on Tuesday rising crude oil prices amid escalating Ukraine-Russia tensions pose threat to India’s financial stability and the government is closely monitoring the situation. Talking to media persons after the Financial Stability and Development Council (FSDC) meeting here, Sitharaman said the situation is worrisome and India has called for a … Read more
LIC has in recent years been a key buyer of shares in state-owned firms sold off by the Government, often bailing out less-than-successful public issues of shares LIC has in recent years been a key buyer of shares in state-owned firms sold off by the Government, often bailing out less-than-successful public issues of shares Prospective … Read more
Kalpataru Power Transmission (KPTL) has announced to merge it’s subsidiary, JMC Projects with itself. Key points to note – KPTL currently owns 67.75% of JMC. It’s an equity merger and the swap ratio is determined as 1 share of KTPL for every 4 shares of JMC. Their respective last closing prices were Rs 389 and … Read more
Finally, as was widely expected, Rakesh Gangwal, the co-founder of Indigo makes some important announcements. He will gradually sell his shareholding over the next 5 years. Gangwal group currently owns 36.61% of Indigo. So as to ease his stake selling and not get restricted due to the access to the non-public information, he has resigned … Read more
The diversified Tata Group touches every online shopper with existing consumer brands and the attempt of Tata Digital will be to bring together all the assets under a single value proposition, the new outfit’s president Mukesh Bansal said on Wednesday. The group — which will be competing head on with Mukesh Ambani’s digital business, Amazon … Read more