No idea about the right … generally rights come less than 10-20% on current market price!!! Might be that reason, they are lowering the CMP !!!
JM Financial (09-10-2024)
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Acquisition Approval: The Competition Commission of India (CCI) has approved JM Financial’s acquisition of a 42.99% stake in JM Financial Credit Solutions Limited (JMFCSL). This is part of a larger plan to increase their shareholding in JMFCSL from 46.68% to 89.67% following the completion of this acquisition, which is valued at approximately ₹1282 Crore.
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Sale of Shares: Concurrently, JM Financial plans to sell 71.79% of its stake in JM Financial Asset Reconstruction Company Limited (JMFARC) to JMFCSL for around ₹856 Crore. This transaction will result in JM Financial no longer holding any direct stake in JMFARC.
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Market Reaction: Following the announcement, there was a noted increase in the market price of JM Financial’s securities by 4.58%, which the company attributes to market dynamics rather than any undisclosed information.
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Future Prospects: The acquisition is expected to enhance JM Financial’s control over JMFCSL, allowing for better capital allocation and profit distribution, thereby potentially increasing consolidated profits.
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Regulatory Compliance: The company has complied with the necessary regulations under the Securities and Exchange Board of India (SEBI) regarding disclosures about these transactions.
Samajwadi Party snubs Congress after Haryana results, announces candidates for 6 UP bypoll seats (09-10-2024)
After assembly poll results in Haryana and Jammu and Kashmir, the Samajwadi Party announced candidates for six of the 10 upcoming Uttar Pradesh bypoll seats, bypassing the Congress’s demand for five seats. The SP’s move highlights internal tensions within the INDIA bloc.
Samsung has accepted most demands of workers: TN govt (09-10-2024)
The Tamil Nadu government on Wednesday said Samsung India Electronics has accepted most of the demands of workers, who commenced strike on September 9, and reiterated its request that employees resume work immediately. In a related development, on Tuesday night, some participants/those related to the strike were arrested by police and were later released ‘on their own bond’ by a magistrate. A key demand of the Samsung workers, registration of their union, backed by the CPI(M) affiliated Centre of Indian Trade Unions (CITU), is, however, yet to be accepted by the authorities.
Domestic markets drop 1% from day’s high amid sustained FPI selling (09-10-2024)
Global headwinds and FPIs outflows outweighed the positive sentiment triggered by RBI signalling rate cut in its next meeting
Companies With First ever concalls OR Investor Presentations (09-10-2024)
Tollins Tyres Ltd
1st Presentation: