Posts in category Economic Times
IRDAI probes Care Health’s stock option issue to Saluja (30-05-2024)
IRDAI revealed that a probe into stock option allotment to Saluja is on in response to a query raised by Rahul Kanoj under the Right to Information Act (RTI) to the insurance regulator. The regulator said in its response, "The information sought is not furnished as the same would impede the process of investigation or apprehension." ET has seen IRDAI's response to the RTI query.
Work overnight for FPI tax papers: Sebi tells big four firms (30-05-2024)
At a meeting on Tuesday, the Indian capital market regulator has told the accounting biggies in no uncertain terms to generate the mandatory 'confirmation certificate' overnight so that offshore funds managers can repatriate the money from the sale of stocks here to other international markets the very next day.
RBI’s reserves effective guard against Vostro holding swings (30-05-2024)
Investments of some Russian funds in select securities that were permitted in a specific way are said to have reduced over a period of time indicating that funds are moving out of such securities, mostly short-term Treasury Bills, said market traders.
Airtel’s $100b market capitalisation reflects a stable economy under a solid leader: Sunil Mittal (30-05-2024)
Sunil Bharti Mittal, Chairman of Bharti Enterprises, emphasized that Airtel's resurgence post the challenges posed by Reliance Jio's entry and the AGR ruling showcased India's stable economy and supportive policies under strong leadership. Reflecting on Airtel's path to the $100-billion milestone, Mittal highlighted the company's resilience amidst industry disruptions. He noted that Airtel's achievement as the first-generation Indian company to reach this milestone was significant, especially considering the competitive landscape.
IRB Infra promoters likely to sell 4% to raise Rs 1,512 crore (30-05-2024)
The sellers have put up 240 million shares for sale with a floor price ranging from ₹63 to ₹72.7 per share. This represents a 13% discount on the lower range compared to the closing price on Wednesday.
General Atlantic likely to sell up to 6.8% stake in KFin Technologies today (30-05-2024)
The base size of the sale is 70.17 lakh shares, constituting 4.1% of the company, with an option to increase to 1.17 crore shares or 6.8% of today's equity.
Allied Blenders plans Rs 1,500-crore IPO in June (30-05-2024)
The Mumbai-based company, known for Officer's Choice and Sterling Reserve whisky, refiled its draft red herring prospectus (DRHP) in January and received regulatory approval on May 10. The IPO comprises a ₹1,000-crore fresh issue and a ₹500 crore offer for sale. The company had initially filed its DRHP with the market regulator in June 2022 to raise ₹2,000 crore.
FPIs sell PNB Housing shares worth Rs 843.79 crore in bulk deal (29-05-2024)
As of March 2024, General Atlantic Singapore Fund FII PTE owned 9.82% stake in the company while Asia Opportunities V (Mauritius) owned 9.88% stake in the company. Societe Generale was among the buyers in the deal and bought shares worth ₹94.82 crore.
IRDAI in favour of 100% cashless claim settlement in health (29-05-2024)
In terms of cashless claims, the regulator wants insurers to decide on authorisation requests within one hour of receipt. It has directed insurance companies to put in place necessary systems and procedures to meet the new guidelines by July 31, 2024.
SBI to sell guarantees of Reliance Naval promoter (29-05-2024)
The bank, in a notice on its website, said that it has principal outstanding dues of Rs 1,160 crore and total dues of Rs 3,512 crore, as of May 31, 2024. The bank stated that it is seeking to assign the residual debt along with the guarantee. Nikhil Gandhi and his brother Bhavesh Gandhi have provided personal guarantees while SKIL Infrastructure provided corporate guarantees on the loan.