Stake Financial News

Vedanta Ltd promoter is in talks to sell a partial stake in the mining major to Rajiv Jain-led GQG Partners in a deal worth $1 billion, ETNow news channel reported, quoting sources. The final talks for a potential stake sale have already taken place, and the transaction may take place in a few days in the form of a block deal, the news channel reported.

BPCL ESPS Trust on Wednesday sold a 0.3% stake in Bharat Petroleum Corporation through the open market for around Rs 400 crore. The trust sold 68,36,948 shares at Rs 584 apiece, block deals data showed. Shares of the state-owned oil refiner ended 7.3% higher on the National Stock Exchange at Rs 626.95.

Then-ASI purchased a 50% stake in the joint venture for £40m plus capital adjustments of £10m, for a total sum of £50m, which has been purchased by Virgin Money for £20m, a 60% discount on the original purchase price.

Bharti Airtel has waived off its right of first refusal (RoFR) to acquire state-owned Telecommunications Consultants India Ltd’s 30% stake in Bharti Hexacom as it sees no immediate value in such a move, analysts said, quoting the telco’s senior management. Last month, Bharti Airtel subsidiary, Bharti Hexacom, had filed a draft offer document with Securities & Exchange Board of India (Sebi) to sell a 20% stake of TCIL which will provide the government a partial exit. TCIL’s holding will drop to 10% after Bharti Hexacom’s initial public offer (IPO), while parent company, Bharti Airtel, will retain its 70% stake in the unit. “Bharti’s management mentioned that Airtel had a right of first refusal to acquire this 30% stake (in Bharti Hexacom) owned by the government via TCIL, but they waived off this right as of now as the telco doesn’t see any value in acquiring the stake from the market, post-Bharti Hexacom listing),” BofA Securities said in a note seen by ET.

Shares of JetBlue are up more than 18% in Tuesday afternoon trading as activist investor Carl Icahn took an almost 10% stake in the airline

By Valentine Hilaire

British American Tobacco (BAT), the largest shareholder in India's ITC, is working with Wall Street banks Citi and Bank of America to help pare some of that stake and raise up to Rs 21,000 crore ($2.5 billion), according to people with knowledge of the matter. This would translate to monetising 3.5-4% in ITC. However, no transaction will happen until the Reserve Bank of India (RBI) approves the move. BAT has 29.03% holding in the cigarette-to-chips conglomerate, as per December 2023 disclosures. Based on Monday’s closing price, BAT’s shareholding is valued at Rs 1.47 lakh crore ($17.75 billion). ITC’s total market capitalisation amounted to Rs 5.07 lakh crore ($61.17 billion).

Shares of JetBlue Airways (NASDAQ:JBLU) are trading over 8% higher in the after-hours on Monday, after the famed activist investor Carl Icahn reported a 9.91% stake in the company.

Motilal Oswal Financial Services had a buy rating with a target price of ₹515. Many other analyst firms have also provided an optimistic growth outlook for ITC. However, ITC's stock recently faced an avoidable overreaction from some investors following the BAT indication to reduce their shareholding for immediate cash requirements.

₹200,000 each also hiked stake in the bourse to 3.62% in the December quarter from 3.49% in the preceding quarter. Of the total equity stake held by HNIs, veteran investor Radhakishan Damani kept a 1.58% stake. The hike in the share of resident entities is borne by huge transfers of NSE shares from non-residents and foreign-controlled Indian entities (ind-irect foreign investment) to residents in December.

Mint. "We always keep looking out for possibilities world over and if there are assets, especially if there are producing assets available or near producing assets available, we will be more than interested to have our stakes in those assets. Several discussions are also going on," he said.

By Manya Saini and Niket Nishant

AU Small Finance Bank. The Jaipur Literature Festival brings together some of world’s best intellectual minds on a singular platform where ideas, ideologies, viewpoints, and worldviews are discussed, debated, and challenged.

₹1,462.80 apiece in early trade on Monday. This uptick follows the approval granted by the Reserve Bank of India (RBI) to LIC, allowing it to increase its stake up to 9.99% in the country's largest private sector bank. In an exchange filing on Thursday (January 25), HDFC Bank stated that permission was given to LIC with regard to the application submitted to RBI.

MUMBAI : Five years since Zee Entertainment persuaded lenders not to classify its debt as default, the media giant is facing pressure to oust its promoter family, after an aborted merger with Sony Pictures in India. In an interview, founder Subhash Chandra said his son Punit Goenka, who heads Zee, is the right person to lead it in the future as well, as he aims to raise the family’s stake in Zee from 4% to 26%. Edited excerpts: As you know, the 25th of January was the fifth anniversary of our failure in the capital market, when Zee’s shares fell almost 40%.

E-commerce major Flipkart co-founder Binny Bansal has resigned from the company's board, according to a company statement. The development comes after around six months of Bansal selling an entire stake in the company. "I am proud of the Flipkart Group's achievements over the past 16 years.

Karnataka Bank for ₹100 crore. "The Board of Directors of Karnataka Bank on January 27, 2024 had approved to issue, offer and allot 37,72,730 equity shares of face value of ₹ 10/- each fully paid-up at a price of ₹ 265.06/- per equity share, amounting to an aggregate value of up to ₹ 100 crore," the company said in an exchange filing. Also read: Market cap of 7 out of top 10 most valued firms decline by ₹1.16 lakh crore; HDFC Bank biggest laggard The Board of Directors of Karnataka Bank has granted approval for the infusion of an additional equity capital of ₹700 crore.

(Reuters) — MacKenzie Scott, ex-wife of Amazon.com (NASDAQ:AMZN) billionaire Chief Executive Jeff Bezos, sold 65.3 million shares in the ecommerce giant last year, Bloomberg News reported on Friday.

RBI has allowed LIC to acquire an additional 4.8% stake in HDFC Bank, raising its total stake to 9.99% by January 24, 2025. LIC owned a 5.19% stake in HDFC Bank as of December 2023. HDFC Bank, in a notification to stock exchanges on Thursday, said LIC has received approval from the RBI to acquire up to 9.99% in the bank by January 25, 2025.

Adani Power on Thursday said it has inked an initial pact to sell 100 per cent equity in its two arms Aviceda Infra Park and Innovant Buildwell to AdaniConnex for Rs 540 crore. «Adani Power has entered into a Memorandum of Understanding (MOU) to sell its 100 per cent equity stake in its two wholly-owned subsidiaries i.e.

MakeMyTrip said on Thursday it had completed the Savaari transaction by aquiring a controlling stake in the car rental service provider. MakeMyTrip had announced in its second quarter FY23-24 results that it has entered into an agreement to acquire a majority stake in Savaari Car Rentals Private Limited. Savaari will continue to operate as an independent entity led by the existing leadership team, the company said in a statement.