Jio Leasing Services Ltd (JLSL), a wholly-owned subsidiary of Jio Financial Services, has invested ₹67.50 crore in Reliance International Leasing IFSC Ltd. It has invested 6.75 crore 8.1 per cent cumulative optionally convertible preference shares of ₹10 each of Reliance International Leasing IFSC Ltd (RILIL) (a 50:50 joint venture between JLSL and Reliance Strategic Business Ventures Ltd (a wholly-owned subsidiary of Reliance Industries Limited), for cash at par, aggregating ₹67.50 crore, Jio Financial Services said in a regulatory filing. The investment is made to fund the business operations of RILIL, it said.
YES Bank on Tuesday relieved Amit Sureka from his duties as the country head of its financial markets division. It did not mention the reason for Sureka’s removal. Sureka, based in the lender’s Mumbai branch, joined the bank in 2005. Indian lenders collectively own a 34 per cent stake in YES Bank; State Bank of India (SBI), the largest shareholder with a 24 per cent interest, has been seeking a new promoter. SBI aims to cut its stake in the bank by March-end to sell its 24% stake, sources told Reuters earlier this month.
Markets regulator SEBI on Tuesday barred Rana Sugars, its promoters and officials from the securities markets for two years and slapped a ₹63 crore fine on them on charges of diversion of funds. The regulator also prohibited Inder Pratap Singh Rana (Promoter and MD), Ranjit Singh Rana (Chairman), Veer Pratap Rana, Gurjeet Singh Rana, Karan Pratap Singh Rana, Rajbans Kaur, Preet Inder Singh Rana and Sukhjinder Kaur from holding any position as director or key managerial person of any other listed company for two years. Individually, SEBI imposed penalties in the range of ₹3 crore to ₹7 crore on Rana Sugars, its promoters, officials and other related parties.
India Grid Trust has said Alberta Investment Management Corporation and HDFC Life will invest ₹567 crore and ₹100 crore, respectively, in it. According to a statement, India Grid Trust (IndiGrid) announced the launch of its preferential issue process to raise ₹695 crore following the successful conclusion of the offer-for-sale (OFS). IndiGrid on Tuesday launched its preferential issue process to raise ₹695 crore through primary issuance of units for ₹136.43 /unit, it added.
Hindustan Unilever (HUL) has received a tax notice of ₹962.75 crore, including an interest of ₹329.33 crore for the ₹3,045-crore acquisition of the India Health Food Drink (HFD) business from the GlaxoSmithKline (GSK) Group, the FMCG major said on Tuesday.
The board of NBCC (India) will meet August 31 to consider a proposal for bonus shares.
ICICI Prudential Life Insurance informed the exchanges that it has received a tax demand of ₹429.05 crore from the Deputy Commissioner of State Tax, Maharashtra. The GST demand includes ₹208.02 crore, ₹200.22 crore in interest, and ₹20.80 crore in penalties.
Zydus Lifesciences has received final approval from the US FDA to market Amantadine extended-release capsules, 68.5 mg, and tentative approval for 137 mg dosage. The approved formulation is a generic version of Gocovri (amantadine) extended-release capsules. Amantadine extended-release capsules are indicated for the treatment of dyskinesia in patients with Parkinson’s disease receiving levodopa-based therapy, with or without concomitant dopaminergic medications.
Wipro has expanded its partnership with Dell Technologies to integrate its AI enterprise solutions and provide enterprises with best-in-class technology and the latest in chip designs.
UPL Global Ltd (UGL), a step-down subsidiary of UPL Corporation Ltd, has acquired the remaining 20% stake in PT Excel Meg Indo, an Indonesian company involved in the agrochemical sector.
PNC Infratech has received an order worth ₹380 crore from NHAI for the construction of an additional 3-lane Bridge over the River Ganga to connect Buxar and Bharauli on NH-922 in Uttar Pradesh and Bihar on Hybrid Annuity Mode (HAM).
SBI Cards and Payment Services Chairman of the Board and Non-executive Director Dinesh Khara has stepped down from the directorship of the company, effective August 27, after completing his term as the Chairman of State Bank of India (SBI).
Godrej Agrovet has acquired an additional 49% stake in Godrej Tyson Foods Ltd. from Tyson India Holdings Ltd. After the acquisition, Godrej Agrovet’s stake in Godrej Tyson Foods has risen from 51% to 100%, according to an exchange filing.
Singapore-based Amansa Capital on Tuesday sold a 2.2 per cent stake in Aavas Financiers for ₹296 crore through an open market transaction. According to the bulk deal data available on the BSE, Amansa Capital, through its arm Amansa Holdings, offloaded 17,50,929 shares, or a 2.2 per cent stake, in Aavas Financiers at ₹1,690 apiece. After the share sale, Amansa Capital’s shareholding in Aavas Financiers has come down to 0.95 per cent from 3.16 per cent. Meanwhile, Nippon India Mutual Fund acquired 10 lakh shares at the same price, as per the data
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Published on August 28, 2024
https://www.thehindubusinessline.com/markets/stocks-that-will-see-action-today-28-august-2024/article68575380.ece
