Posts in category Economic Times
Local pharma companies queue up for JB Chemicals & Pharmaceuticals (24-05-2024)
Mankind Pharma, Dr Reddy’s Laboratories, and Torrent Pharma are interested in acquiring JB Chemicals & Pharmaceuticals from KKR. Private equity funds are discouraged by high valuation, with first round of bids expected soon.
India’s market-cap crosses $5-trillion milestone (23-05-2024)
At the close of Thursday's trading, the market-cap of all BSE-listed companies stood at $5.05 trillion (or ₹420.22 lakh crore). India is the fifth country after the US, China, Japan, and Hong Kong whose market capitalisations have crossed the $5-trillion mark.
Pre-pack insolvency a success for five companies (23-05-2024)
The Pre-packaged Insolvency Resolution Process (PPIRP) settled operational creditors' claims in five cases. Introduced under the Insolvency and Bankruptcy Code (IBC) in August 2021, it involves debtor-creditor negotiation before formal insolvency. Newsletter of the Insolvency and Bankruptcy Board of India (IBBI) reported 25% realisation.
NCLT allows Kirloskar brothers to sell shares in Kirloskar Industries (23-05-2024)
The National Company Law Tribunal (NCLT) has granted permission to the Atul Kirloskar faction of Kirloskar Industries Ltd (KIL) to sell its shareholding in Kirloskar Brothers Ltd (KBL), amid an ongoing family dispute. The tribunal ruled that shares should first be offered to Sanjay Kirloskar, with his nominees given priority. If not bought within 30 days, KIL can then sell the shares to others. Allegations of mismanagement and rejection of pre-clearance applications were raised by KIL and Atul Kirloskar's faction.
National Grid to raise $9 bln in biggest UK rights issue since 2009 (23-05-2024)
National Grid's 7 billion pounds rights issue for energy networks aligns with UK's decarbonisation goal. CEO John Pettigrew assures stable regulatory framework. Shares drop over 10% amid political risk concerns in the sector.
National Grid to raise $9 bln in biggest UK rights issue since 2009 (23-05-2024)
National Grid's 7 billion pounds rights issue for energy networks aligns with UK's decarbonisation goal. CEO John Pettigrew assures stable regulatory framework. Shares drop over 10% amid political risk concerns in the sector.
Gold slips to over one-week low on hawkish Fed, US data (23-05-2024)
Gold prices fell on Thursday due to concerns over U.S. rate cut timings and strong U.S. business activity, with spot gold declining 1.4% to $2,346.07 per ounce. This was its lowest since May 14, as of 1557 GMT.
Gold slips to over one-week low on hawkish Fed, US data (23-05-2024)
Gold prices fell on Thursday due to concerns over U.S. rate cut timings and strong U.S. business activity, with spot gold declining 1.4% to $2,346.07 per ounce. This was its lowest since May 14, as of 1557 GMT.
Hargreaves Lansdown’s biggest shareholder open to take company private, say sources (23-05-2024)
Peter Hargreaves rejects a 4.67 billion pound takeover bid from CVC Advisers and Abu Dhabi Investment Authority, deeming it undervalued.
Hargreaves Lansdown’s biggest shareholder open to take company private, say sources (23-05-2024)
Peter Hargreaves rejects a 4.67 billion pound takeover bid from CVC Advisers and Abu Dhabi Investment Authority, deeming it undervalued.