Embassy Office Parks Management Services is manager to Embassy REIT, the country’s largest real estate investment trust with a market capitalisation of ₹40,000 crore. The regulator has asked the company to appoint an interim CEO.
Posts in category Economic Times
Don’t go overboard on gold: Wealth managers (05-11-2024)
Gold prices have risen 30.69% in rupee terms over the past 12 months, while it has gained 39.10% in dollar terms. During the same period, the Nifty 50 has gained 25.6%. In this calendar year, gold has so far gained 26% in rupee terms, while the Nifty gained 11.8%.
Shares of oil marketing firms get a snub as crude weakens (05-11-2024)
Indian Oil (IOC) fell the most at 4.14%, Hindustan Petroleum (HPCL) and Bharat Petroleum (BPCL) were down over 3% at close on Monday. Brent crude January Futures were up about 2% after OPEC+ announced a voluntary delay in increasing crude output for the month of December. It was already delayed in October due to falling prices.
NSE Q2 net rises 57% to Rs 3,137 crore, income up 24% (05-11-2024)
NSE’s earnings per share rose to ₹12.68 as against ₹8.08 in September 2023, after a 4:1 bonus equity share issuance. For the half-year ended September 30, 2024, NSE’s consolidated total income was ₹9,974 crore, with a net profit of ₹5,704 crore.
Bears rule Dalal Street ahead of US Polls, Fed meet (05-11-2024)
The Nifty ended at 23,995—the lowest closing since August 6, down 309 points or 1.3% over Friday’s close. The Sensex closed at 78,782, down 941.88 points or 1.2%. Both indices fell as much as 1.6% earlier in the day.
Hero Electronix, backed by Suman Kant Munjal, plans to sell 30% stake in chip design firm Tessove (05-11-2024)
The company is said to be in the process of mandating an investment bank for the stake sale. Tessolve said it’s not engaged in fund-raising talks. Two years after its last capital round, majority shareholder Hero Electronix is looking to generate $120-150 million (Rs 1,000-1,260 crore), said the people cited above, pegging Tessolve’s value at $400-450 million (Rs 3,300-3,800 crore).
Noel joins board of Tata Sons; first Tata family member since 2011 to serve on both boards at once (05-11-2024)
Noel Tata, newly appointed chairman of Tata Trusts, has joined the board of Tata Sons as a nominee director. This marks the first time since 2011 that a Tata family member holds positions on both boards concurrently. Tata Trusts, with its 66% stake, is the largest shareholder in Tata Sons, the holding company of the Tata Group.
Hinduja Group needs DPIIT nod, too, for Reliance Capital buy (04-11-2024)
The Hinduja Group got approval from the Reserve Bank of India to buy Reliance Capital. The deal still needs a green light from the Department for Promotion of Industry and Internal Trade. The Hinduja Group secured funding for the acquisition. The group raised ₹3,000 crore by issuing debentures and planned to raise another ₹4,300 crore.
Government calls applications for RBI Deputy Governor position (04-11-2024)
The Indian government is seeking a new deputy governor for the Reserve Bank of India. Applications are due by November 30. The position will succeed Michael Patra, whose term ends in January. Candidates need 25 years of experience in relevant fields. The appointment is for three years with a possibility of re-appointment. The government encourages applications from exceptional candidates.
Bandhan Financial Services acquires global IT company Genisys (04-11-2024)
Bandhan Financial Services Ltd (BFSL), promoter of Bandhan Bank, has ventured into the IT sector by acquiring Genisys group of companies for nearly Rs 100 crore. This strategic move aims to leverage technology for business solutions and enhance shareholder value. Genisys, specializing in AI-enabled solutions for various sectors, will operate under BFSL with expanded capabilities.