Posts in category Business Standard
Promoter entity Twin Star pares 4.1% stake in Vedanta for Rs 3,983 cr (03-08-2023)
Billionaire Anil Agarwal-promoted Twin Star Holdings on Thursday divested a 4.1 per cent stake in conglomerate Vedanta Ltd for Rs 3,983 crore through an open market transaction.
Following the stake sale, shares of Vedanta tumbled 6.71 per cent to close at Rs 253.90 apiece on the NSE.
According to the bulk deal data available with the National Stock Exchange (NSE), Twin Star Holdings Ltd offloaded more than 15.40 crore shares, amounting to a 4.14 per cent stake of Vedanta Ltd.
The shares were sold at an average price of Rs 258.55 apiece, taking the aggregate transaction value to Rs 3,983.10 crore.
Meanwhile, Copthall Mauritius Investment acquired nearly 8.49 crore equity shares in two tranches and Societe Generale bought more than 2.94 crore shares, amounting to 2.2 per cent and 0.79 per cent, respectively, stake in Vedanta.
The shares were purchased at an average price of Rs 258.50 per piece. This took the combined deal size to Rs 2,955 crore.
Promoter entity Twin Star pares 4.1% stake in Vedanta for Rs 3,983 cr (03-08-2023)
Billionaire Anil Agarwal-promoted Twin Star Holdings on Thursday divested a 4.1 per cent stake in conglomerate Vedanta Ltd for Rs 3,983 crore through an open market transaction.
Following the stake sale, shares of Vedanta tumbled 6.71 per cent to close at Rs 253.90 apiece on the NSE.
According to the bulk deal data available with the National Stock Exchange (NSE), Twin Star Holdings Ltd offloaded more than 15.40 crore shares, amounting to a 4.14 per cent stake of Vedanta Ltd.
The shares were sold at an average price of Rs 258.55 apiece, taking the aggregate transaction value to Rs 3,983.10 crore.
Meanwhile, Copthall Mauritius Investment acquired nearly 8.49 crore equity shares in two tranches and Societe Generale bought more than 2.94 crore shares, amounting to 2.2 per cent and 0.79 per cent, respectively, stake in Vedanta.
The shares were purchased at an average price of Rs 258.50 per piece. This took the combined deal size to Rs 2,955 crore.
HSBC MF enters Rs 1-trn AUM club; Union AMC appoints Patwardhan as CIO (03-08-2023)
HSBC MF acquired L&T MF in 2022, leading to a multifold rise in its AUM. At the time of acquisition, L&T MF had an AUM of around Rs. 71,000 crore
HSBC MF enters Rs 1-trn AUM club; Sebi NSDL IPO in abeyance (03-08-2023)
HSBC MF acquired L&T MF in 2022, leading to a multifold rise in its AUM. At the time of acquisition, L&T MF had an AUM of around Rs. 71,000 crore
SBI MD for special vostro account surplus to be invested in corporate bonds (03-08-2023)
This arrangement for investment has not really picked up in terms of surplus money in the vostro accounts being invested in g-secs, he added
SBI MD bats for allowing special Vostro surplus in corporate bonds (03-08-2023)
This arrangement for investment has not really picked up in terms of surplus money in the vostro accounts being invested in g-secs, he added
Markets fall for a third consecutive session; Sensex ends 542 points lower (03-08-2023)
Rising US bond yields spoil equity market party; Sensex hits one-month low
Markets fall for a third consecutive session; Sensex ends 542 points lower (03-08-2023)
Rising US bond yields spoil equity market party; Sensex hits one-month low
MRF gains 4%, hits new high in weak market on strong Q1 results (03-08-2023)
The benefits of lower raw material cost resulted in better profitability during the quarter
Market regulator Sebi cancels registration of MMTC as broker in NSEL case (03-08-2023)
Capital markets regulator Sebi has cancelled the registration of MMTC Ltd as a stock broker for its involvement in illegal "paired contracts" in a case pertaining to now defunct National Spot Exchange Ltd (NSEL).
While cancelling the licence, Sebi directed MMTC to allow its existing clients to withdraw or transfer their securities or funds held by it within 15 days.
In case a client fails to do so, the broker will transfer the funds and securities of such clients to another registered broker in the next 15 days under advice to the said clients, Sebi said in its order on Wednesday.
Going by the order, MMTC is a commodity derivatives broker registered with Sebi, from December 2015 and is currently a member of the Multi Commodity Exchange of India Ltd (MCX).
The broker made an application in September 2019 for surrendering its membership of MCX. However, the surrender application of MMTC is still pending with MCX.
In its order, Sebi said MMTC traded in "paired contracts", which did n