Indian Market

ITC Demerger Update: Rs 1,500 Crore to Boost Growth of ITC Hotels Post Demerger

ITC Demerger Update: Rs 1,500 Crore to Boost Growth of ITC Hotels Post Demerger

/ Indian Market

ITC Limited announced the transfer of Rs 1,500 crore in cash and cash equivalents to ITC Hotels, the demerged hospitality entity, to support growth initiatives and address contingency requirements. This transfer, along with related assets and trademarks, will be executed before January 1, 2025, the effective date of the demerger. In an investor presentation on […]

ITC Demerger Update: Rs 1,500 Crore to Boost Growth of ITC Hotels Post Demerger Read More »

Adani Wilmar Shares Drop 7% Following Adani Group’s Exit from FMCG Joint Venture

Adani Wilmar Shares Drop 7% Following Adani Group’s Exit from FMCG Joint Venture

/ Indian Market

Shares of Adani Wilmar plunged nearly 7% on December 31 after Adani Enterprises announced its decision to exit the joint venture with Singapore’s Wilmar International. The Adani Group is selling its entire 44% stake in Adani Wilmar as part of a $2 billion deal. The sale price of Rs 305 per share, representing a 7%

Adani Wilmar Shares Drop 7% Following Adani Group’s Exit from FMCG Joint Venture Read More »

Mahindra Electric Secures Rs 650 Crore from British International Investment in Final Funding Tranche

Mahindra Electric Secures Rs 650 Crore from British International Investment in Final Funding Tranche

/ Indian Market

Mahindra Electric Automobile Limited (MEAL), the electric vehicle arm of Mahindra & Mahindra (M&M), has received Rs 650 crore from British International Investment Plc (BII) as the final tranche of its funding. This investment is part of BII’s earlier commitment to infuse Rs 1,925 crore into the company, aimed at accelerating the growth of Mahindra’s

Mahindra Electric Secures Rs 650 Crore from British International Investment in Final Funding Tranche Read More »

Adani Enterprises to Exit Adani Wilmar Joint Venture, Proceeds to Fund Core Infrastructure Investments

Adani Enterprises to Exit Adani Wilmar Joint Venture, Proceeds to Fund Core Infrastructure Investments

/ Indian Market

Adani Enterprises Limited (AEL) has announced its complete exit from the Adani Wilmar Joint Venture by selling its 44% stake. As part of the exit, Wilmar International will acquire up to 31% of the equity held by AEL in the platform, according to a company filing dated December 30. This stake sale is expected to

Adani Enterprises to Exit Adani Wilmar Joint Venture, Proceeds to Fund Core Infrastructure Investments Read More »

Ajay Poly Industries Files for Initial Public Offering to Raise Rs 238 Crore and Reduce Debt

Ajay Poly Industries Files for Initial Public Offering to Raise Rs 238 Crore and Reduce Debt

/ Indian Market

Ajay Poly, a leading manufacturer of refrigeration sealing solutions, has filed draft papers with SEBI to raise funds through an initial public offering (IPO). The IPO will consist of a fresh issue worth Rs 238 crore and an offer-for-sale of 93 lakh shares by the company’s promoters, as per the draft red herring prospectus (DRHP)

Ajay Poly Industries Files for Initial Public Offering to Raise Rs 238 Crore and Reduce Debt Read More »

Motilal Oswal AMC Halts New SIP Investments in Two International Funds

Motilal Oswal AMC Halts New SIP Investments in Two International Funds

/ Indian Market

Motilal Oswal Mutual Fund has announced that it will pause fresh SIP contributions for its two international funds, the Motilal Oswal S&P 500 Index Fund and Motilal Oswal Nasdaq 100 Fund of Fund, starting January 5, 2025. This decision comes as the AMC has reached its overseas investment limit. AMC further clarified that though no

Motilal Oswal AMC Halts New SIP Investments in Two International Funds Read More »

Cochin Shipyard Shares Surge 5% as Adani Ports Places Rs 450-Crore Order

Cochin Shipyard Shares Surge 5% as Adani Ports Places Rs 450-Crore Order

/ Indian Market

Shares of Cochin Shipyard reached a 5% upper circuit on December 27 after Adani Ports and Special Economic Zone Ltd (APSEZ) announced a major order for eight advanced harbour tugs to be built by the company. While the total contract value for tugs is Rs 450 crore, the deliveries are to start from December 2026,

Cochin Shipyard Shares Surge 5% as Adani Ports Places Rs 450-Crore Order Read More »

Nazara Technologies Increases Stake in Absolute Sports to 81.94% for Rs 72.73 Crore

Nazara Technologies Increases Stake in Absolute Sports to 81.94% for Rs 72.73 Crore

/ Indian Market

Gaming platform company Nazara Technologies has acquired an additional 10.26% stake in its subsidiary Absolute Sports for Rs 72.73 crore, according to an exchange filing on December 26. This acquisition raises Nazara’s stake in Absolute Sports to 81.94%. The acquisition was in furtherance of a SPA dated September 18, 2024, between Nazara, Absolute Sports, and

Nazara Technologies Increases Stake in Absolute Sports to 81.94% for Rs 72.73 Crore Read More »

Dixon Technologies Partners with Cellecor Gadgets for Refrigerator Manufacturing

Dixon Technologies Partners with Cellecor Gadgets for Refrigerator Manufacturing

/ Indian Market

Dixon Technologies, through its subsidiary Dixon Electro Manufacturing, has entered into a Memorandum of Understanding (MoU) with Cellecor Gadgets to manufacture refrigerators and related components. The announcement was made in a company filing on December 26. Cellecor Gadgets is recognized as a leading Original Design Manufacturer (ODM) and Original Equipment Manufacturer (OEM) in the consumer

Dixon Technologies Partners with Cellecor Gadgets for Refrigerator Manufacturing Read More »

Scroll to Top