J Kumar Infra shares jumped 16% on November 25, marking their best performance in 21 weeks. The rally followed the BJP-led alliance’s decisive victory in Maharashtra’s state elections, where it secured over 200 of the 288 seats. This outcome boosted market confidence in infrastructure development under the incumbent government, lifting stocks in the infrastructure, PSU, […]
Shares of RITES surged nearly 13% on November 25 after the Northeast Frontier Railway increased its project estimate for the LMG-BPB electrification work to Rs 531.77 crore, up 84% from the earlier estimate of Rs 288.44 crore. This project, part of the Lumding division of Northeast Frontier Railway, is being executed on a turnkey basis
RITES Jumps 13% as Northeast Frontier Railway Ups Project Value Read More »
Edelweiss Financial Services has engaged Nomura Holdings to assist in selling a minority stake in its mutual fund business. The Mumbai-based financial group is reportedly exploring the sale of a 25-35% stake in the unit, aiming for a valuation of $700-800 million for the entire business, as per sources familiar with the matter. The company’s
Edelweiss Plans Minority Stake Sale in Mutual Fund Unit, Hires Nomura Read More »
Apollo Micro Systems (AMSL) shares gained over 3% on November 25 after the company announced receiving orders worth Rs 4.65 crore from the Defence Research and Development Organization (DRDO). The company also revealed that it has been declared the lowest bidder for additional orders totaling Rs 16.96 crore from DRDO, public sector units, the Indian
Apollo Micro Systems Shares Rise After Securing Rs 4.65 Crore Order from DRDO Read More »
Eminent Electricity Distribution Ltd, a wholly-owned subsidiary of CESC, has signed a deal worth Rs 871 crore to take over the electricity distribution company in the Union Territory of Chandigarh. The agreement follows the receipt of a ‘Letter of Intent’ (LOI) for acquiring 100% shares in the distribution entity responsible for supplying electricity in the
CESC Arm Secures Rs 871 Crore Deal for Chandigarh Power Distribution Read More »
Saltoro Alpha LP has purchased 11.9 lakh shares, equivalent to a 2.5% stake in Ashapura Minechem Ltd, at Rs 249.1 per share. The transaction occurred as Copthall Mauritius Investment Ltd offloaded the same stake at the same price. Following this development, Ashapura Minechem’s stock rose by 2.28%, closing at Rs 254 per share on November
Saltoro Alpha Acquires 2.5% Stake in Ashapura Minechem Read More »
Zomato will be added to the benchmark Sensex index, replacing JSW Steel, starting December 23, according to an announcement by BSE on November 22. This move is part of a broader reconstitution of BSE indices, including BSE Sensex 50, BSE Sensex Next 50, and BSE 100. Key changes to the BSE 100 index include dropping
Zomato to Replace JSW Steel in Sensex from December 23 Read More »
SEBI has proposed new guidelines for hiring key management personnel (KMPs) at market infrastructure institutions (MIIs), including stock exchanges. The market regulator suggested involving an independent external agency and SEBI itself in the recruitment process for critical positions like heads of technology, operations, and compliance. These, among other proposals, have been set out in a
SEBI Suggests External Oversight in Hiring Key Roles at Stock Exchanges and MIIs Read More »
Enviro Infra Engineers, a provider of water and wastewater management solutions, raised Rs 194.7 crore from institutional investors through its anchor book on November 21. The company aims to raise Rs 650.4 crore via its IPO, which includes a fresh issue of 3.86 crore equity shares worth Rs 572.46 crore and an offer-for-sale of 52.68
Enviro Infra Engineers Raises Rs 195 Crore from Anchor Investors Before IPO Read More »
SJVN shares are expected to attract attention on November 22 after the company signed a Memorandum of Understanding (MoU) with the Energy Department of the Government of Rajasthan. The MoU aims to develop renewable energy projects in the state, including 5 GW of pumped storage projects and 2 GW of floating solar projects. This collaboration
