The US-based private equity major Bain Capital shares of L&T Finance, held by other entities, by diluting its stake through a block deal. The proposed block deal has been launched, with investor bank BNP Paribas as the advisor. The plan: Bain Company has planned to sell a 3.54% stake in the company, at Rs. 169.17 …
Thomas Cook India Limited (TCIL) announced positive news today regarding its credit ratings. CRISIL Ratings, a leading Indian credit rating agency, upgraded its outlook on the company’s bank loan facilities and corporate credit rating to ‘Positive’ from ‘Stable’ while reaffirming the long-term rating at ‘CRISIL AA-’ and the short-term rating at ‘CRISIL A1+’. Factors Behind …
Tilaknagar Industries (TI), a leading Indian manufacturer of Indian-Made Foreign Liquor (IMFL), has cemented its position as a global leader in the brandy category. The company’s flagship brand, Mansion House Brandy, has been crowned the largest-selling brandy in India and the second-largest-selling brandy worldwide for the year 2023, according to the prestigious “Millionaires’ Club” report …
Arvind Limited is a fashion powerhouse that also provides state-of-the-art engineering solutions. Headquartered in Naroda, Ahmedabad, the company has its manufacturing units at Santej. It manufactures cotton shirting, denim, knits, and khaki fabrics and is India’s largest denim manufacturer. The company’s brand portfolio includes domestic and international brands such as Flying Machine, Arrow, US Polo, …
The Securities and Exchange Board of India (SEBI) has taken strict action against PTC India Financial Services Ltd. (PFS) (a subsidiary of PTC) and its former leadership for lapses in corporate governance. The investigation, initiated following the resignation of independent directors citing governance concerns, has resulted in penalties and restrictions on: Pawan Singh: Former Managing …
Amber Enterprises India Limited (Amber), a leading manufacturer of air conditioners and room air conditioner components, announced today that it had acquired an additional 4.6% equity stake in IL JIN Electronics (India) Private Limited (IL JIN) on June 12, 2024. This strategic move strengthens Amber’s position within the printed circuit board (PCB) manufacturing industry. Strengthening …
Nestle India’s Board of Directors approved a hike in royalty payments to the Swiss parent company in April 2024. The hike would have led to an increase in royalty payments to 5.25% of net sales over the next 5 years, up from 4.5% effective 1 July. However, the company’s proposal was rejected by its shareholders …
Strong Performance of the Nifty IT Index On Thursday, the Nifty IT sector emerged as one of the top-performing sectors. The Nifty IT index experienced a gain of over 1%, driven by a robust rally in technology shares on Wall Street observed on Wednesday. OFSS Stock Surge One stock that caught significant attention on Thursday …
Indian benchmark indices started today’s trading session at new record highs, driven by optimism from India’s retail inflation easing to a 12-month low and strength in information technology stocks mirroring overnight gains in US markets. Additionally, real estate, consumer durables, capital goods and financial services stocks experienced an uptrend. At 10:30 am, the BSE Sensex …
On Thursday, the benchmark indices were trading in the green with the Sensex up around 215 points or 0.28% at 76,820, while the Nifty-50 was up around 73 points or 0.31% at 23,395. About 2,337 shares have advanced; 1,200 declined and 173 are unchanged on the BSE. Top gainers and losers on the BSE Sensex …
