Citi upgrades Reliance Industries rating to ‘Buy,’ raises target price to Rs 1,530
Reliance Industries Ltd’s shares surged as much as 3% on Monday to Rs 1302.7 on BSE, after Citi upgraded the stock to a “Buy” rating, increasing its target price to Rs 1,530, citing favourable risk-reward dynamics after a 20% underperformance against the broader Indian market over the last six months. Citi’s latest report highlights an…
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Proxy advisors vote against Strides Pharma’s consolidation scheme
Proxy advisory firms Stakeholders Empowerment Services (SES), Institutional Investors Advisory Services (IiAS) and Institutional Shareholder Services (ISS) recommended that investors vote against a proposal to consolidate certain businesses of Strides Pharma Science and two group companies, claiming the valuation assigned to one of the unlisted affiliates to be high. Listed Strides Pharma is seeking shareholder…
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Unicom’s Prospects Ride on Ecomm Rise
ET Intellligence Group: Unicommerce eSolutions, which provides ecommerce-related software solutions, plans to raise up to ₹277 crore through an offer for sale. The promoter group stake will fall to 23.6% after the IPO from 48.6% excluding any Esop adjustments. AceVector, which also owns Snapdeal, is the major promoter of Unicom. The company counts Mamaearth, Lenskart,…
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