Zomato shares dip 5% amid fundraise plans via QIP
Shares of the food delivery giant Zomato today fell by 5.4% to their low of Rs 256 on BSE after the company’s board announced a meeting on October 22 to consider the plans to raise funds by issuance of equity shares by way of qualified institutions placement (QIP). The company announced QIP after market hours…
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Drop by drop, indices in deep water
Mumbai: Indian equities stretched losses to the sixth straight session on Monday. Overseas investors accelerated sales of stocks and spirited buying support from domestic institutions failed to stem the slide. The sell-off in mid-cap and small-cap stocks was sharper on Monday as individual investors-among their biggest holders-grew nervous about prospects in the wake of the…
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Adani Enterprises set to raise up to $2 billion through a QIP next week
Mumbai: Adani Enterprises is likely to raise up to $2 billion through a qualified institutional placement (QIP) by the middle of next week, sources aware of the development said. Meanwhile, the Adani Group along with Wilmar will also launch the sale of around a 13% stake in Adani Wilmar by the end of this month…
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MNCs continue to encash lofty valuations at Indian-listed arms
Multinationals are rushing to exploit a runaway rally in the Indian stock markets, with more than a dozen firms paring holdings in their local businesses in the past year, while half a dozen others, including Hyundai and LG, are planning public listings. GE T&D India is the latest to join a growing list of global…
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NSE rejig: Vodafone Idea to exit Nifty 500, Nifty Midcap 100
Vodafone Idea has made an exit from Nifty 500 index and Nifty Midcap 100 as part of a semi-annual rejig of NSE’s various indices. Vodafone’s current free-float market capitalisation stands at Rs 36,534 crore and the stock today ended at Rs 15.83, down by Rs 0.37 or 2.28% over the Thursday closing price. Vodafone’s exit…
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ESG: New non-financial accounting norms in the works, as ESG grabs centre stage
Capital markets regulator Sebi is evaluating various accounting standards and also exploring the feasibility of extending its mandatory sustainability reporting norms to more listed companies than the current 1,000 βwhen the time is rightβ, people aware of the matter said. Given the growing importance of sustainability worldwide, the regulator wants Indian firms to prepare for…
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SoftBank unveils $3.4 billion buyback amid pressure from investors
Japanese technology investor SoftBank Group said on Wednesday it plans to buy back a hefty $3.4 billion in shares, answering in part calls from Elliott Management and other investors to bolster its stock price. Masayoshi Son’s globe-spanning tech giant has been under pressure to buy back shares given that its market capitalisation trades at a…
READ MOREGodrej Sobha stake: Godrej Family Office likely to sell a 5% stake in Sobha Ltd
BENGALURU: The Godrej Industries Group (GIG) family office, through its entity Anamudi Real Estates, has partially exited its stake in Bengaluru-based real estate developer Sobha Ltd in secondary market block deals totalling around Rs 857.70 crore. The company sold its nearly 4.43% stake, out of 9.99% held, through block deals on the stock exchange on…
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