Afcons Infrastructure, an EPC contractor belonging to the Shapoorji Pallonji Group, plans to raise Rs 1,250 crore through fresh equity to partly repay debt and purchase equipment, and Rs 4,180 crore through an offer for sale. The promoter group’s stake will fall to 67.2% after the IPO from 99%.
Research report of analysts not an ad unless related to promotion: Sebi (24-10-2024)
Markets regulator Sebi on Thursday clarified that research reports and recommendations of research analysts (RAs) are not considered advertisements unless anything contained in such reports is in the nature of promotion of products or services offered by them.
This came after the Securities and Exchange Board of India (Sebi) received certain queries concerning the applicability of provisions of advertisement code on a research report issued by an RA.
In its circular, Sebi said that the forms of communications, to which the advertisement code shall be applicable include pamphlets, circulars, brochures, notices or any other literature, document, information or material published, or designed for use in any publication or displays (such as newspaper, magazine, sign boards/hoardings at any location), in any electronic, wired or wireless communication or over any other audio-visual form of communication (such as television, tape recordings, motion pictures) or in any other manner …
Tube Investments Ltd ~ Diversified Engineering Company (24-10-2024)
Most listed companies of the group hold leadership position in their respective verticals and given the management’s amazing track record and conducive Govt policies, each one of them will keep generating positive cashflows for a long time to come.
Rather than locking capital in one/more companies, moving cash between them gives a better return on invested capital. I have been doing this holding TI, EID Parry, Carborundum & CG Power, with a strict cap of 50% combined value allocated in any one company.
Ongoing family feud in the group and an imminent split is the major threat facing all these companies from what otherwise an unshakable collective strength of all the member companies in the group.
Peter Lynch: Art side of stockpicking (24-10-2024)
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Azad Engineering wins order of USD 16 mln from Honeywell Aerospace ISC, USA (24-10-2024)
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Adani Total Gas spurts after Q2 PAT rises 6% YoY to Rs 178 cr (24-10-2024)
Adani Total Gas rallied 7.82% to Rs 755.25 after the company’s standalone net profit increased 6.15% to Rs 178.11 crore on 11.66% jump in revenue from operations to Rs 1,315.49 crore in Q2 FY25 over Q2 FY24.
Reddy vs Reddy: Jagan and Sharmila fight over hundreds of crores (24-10-2024)
YS Jagan Mohan Reddy and his sister YS Sharmila Reddy, former allies, are now in a legal dispute over inheritance. They accuse each other of deceit and hurting their father’s memory. The conflict includes shares in Saraswati Power and 20 acres of land. Jagan alleges illegal share transfers by Sharmila, causing personal and political tension.