Reliance Industries (RIL): RIL on Saturday announced that Singapore’s sovereign wealth fund GIC will invest Rs 5,512.5 crore into its retail arm Reliance Retail Ventures Limited (RRVL), while investment firm TPG will pump in Rs 1,837.5, for a 1.22 per cent and a 0.41 per cent equity stake in RRVL respectively on a fully diluted basis.
Tata Steel: Chinese steelmaker, Jingye has expressed an interest in taking over Tata Steel’s UK operations, said a leading UK-based televison channel Sky News on Saturday.
Angel Broking: Shares of Angel Broking will list on the bourses on Monday. The Rs. 600-crore initial public offer (IPO) was subscribed 3.94 times, but the response was not strong as most of the other IPOs that hit the market alongside. Also, it is quoting at a discount in the grey market, hinting that the issue may open below the issue price at debut.
Bank stocks: The government’s proposal to pick up the tab for the waiver of ‘interest on interest’ on loans of up to Rs 2 crore clears the uncertainty over bank earnings for the quarter, giving them room to offer liberal loan-rejig terms to stressed borrowers.
Panacea Biotec: The US Food and Drug Administration (USFDA) has issued a warning letter to Panacea Biotec for violating current good manufacturing practice norms at its Baddi plant in Himachal Pradesh. In a letter to Panacea Biotec Managing Director Rajesh Jain, the USFDA said its inspectors, from February 10-20, 2020, found significant deviations from standard manufacturing practices at company’s Baddi plant.
Kansai Nerolac: The country’s largest automotive paints maker Kansai Nerolac, which completed a century of operations last month, is investing Rs 450 crore to add capacity by 40,000 lakh litres as it expects demand to grow in double-digits this year.
YES Bank: The Madras High Court has upheld the legal validity of Reserve Bank of India’s (RBI) circular on additional Tier 1 (AT1) bonds dismissing a plea by investors of Yes Bank against the write down of these instruments.
CAMS: Foreign investors Goldman Sachs, Nomura and Fidelity lapped up shares of Computer Age Management Services (CAMS) at its debut on Thursday.
BEML: BEML has put in place a “catch-up plan” to make up for the production backlog induced by COVID- 19’s adverse consequences, with manufacturing plants now operating near normal, its Chairman and Managing Director Deepak Kumar Hota said.
Route Mobile: Route Mobile, a cloud communications service provider, has completed the acquisition of intellectual property and its associated contracts from TeleDNA for over Rs 12 crore.
Kotak Mahindra Bank: Kotak Mahindra Bank has registered a case against the now-insolvent Cox & Kings Ltd., alleging fraud of over Rs 170 crore.
Can Fin Homes: On Thursday, The Vanguard Group Inc bought 22,79,917 shares of Can Fin Homes at Rs 423.61 per share, while Caladium Investment Pte. Ltd.-FDI sold 23,10,205 shares of the company at the same price. At the end of June, Caladium Investment held 12.5 per cent stake in the housing finance company.
Coal India: CIL’s coal allocation under special forward e-auction for the power sector registered a rise of 8.4 per cent to 7.94 million tonnes (MT) in April-August period of the ongoing fiscal.
SAIL: State-run steel maker SAIL is exploring new markets for the sourcing of coking coal with a view to reducing dependence on select countries for the raw material, its chairman Anil Kumar Chaudhary said.