Stake Financial News

Aster DM Healthcare share price jumped over 11% to hit a fresh 52-week high of ₹424.00 apiece on Friday. In the past one week, Aster DM Healthcare shares have risen 20%. The rally in Aster DM Healthcare shares comes on the back of the company’s move to sell its GCC (Gulf Cooperation Council) business for over $1 billion.

NEW DELHI : JSW Group has entered into a joint venture with China’s SAIC Motor, which markets MG Motor cars in India, and will own a 35% stake in the new entity that will focus on manufacturing electric vehicles in the country. The rest of the ownership has not been decided yet, company executives said. JSW Group’s Parth Jindal and SAIC Motor’s president Wang Xiaoqiu signed agreements for the transaction at the MG Motor office in London, the companies said on Thursday.

PARIS (Reuters) — Peugeot (OTC:PUGOY) Invest, one of the main shareholders of carmaker Stellantis (NYSE:STLA), said on Thursday it will update at the end of the year the valuation of its stake in Signa, the property and retail giant that declared insolvency on Wednesday.

CSB Bank has received approval from the Reserve Bank of India to retain a 26% stake in the lender, instead of 15% as advised by the central bank earlier, CSB said on Thursday. FIH Mauritius Investments Ltd (FIHM), which currently holds a 49.72% stake in the Thrissur, Kerala-based bank according to BSE data, shall bring down its shareholding within 15 years from the date of completion of investments. The RBI earlier required promoters of banks to reduce their shareholding to 15% to ensure these institutions are widely held. However, following a legal battle with Uday Kotak, the promoter of Kotak Mahindra Bank, the regulator permitted promoters to retain up to 26% in banks. Among others, IndusInd Bank's promoters have benefited from the rule change, after they were given regulatory approval earlier in the year to raise their stake to 26% in the bank.

Whirlpool Corp said on Thursday it will sell up to 24% of its ownership interest in Whirlpool of India Ltd in 2024 in an effort to reduce debt levels. The company did not disclose a deal value and does not expect the sale to impact its previously issued full-year forecast, Whirlpool said in a filing. Whirlpool of India reported a 23.7% drop in second-quarter profit earlier this month, as the home appliances maker grappled with weak demand amid stiff competition. Michigan-based Whirlpool currently maintains a 75% ownership interest in the Indian company through a wholly-owned unit, and will retain a majority interest after the sale.

climate change. This year, four topics are expected to dominate the negotiations: a report on the worldwide implementation of the landmark Paris accord called the “global stocktake," the future of fossil fuels, climate finance for poorer countries and the setting up of a fund to pay for climate damage. The meeting in Dubai is the 28th conference of the parties—or COP28—to the United Nations Framework Convention on Climate Change, the global climate treaty signed in 1992 in Rio de Janeiro.

IPO) market witnessed one of the busiest periods last week with five companies, including Tata Technologies, Ireda, Flair Writing Industries and Gandhar Oil Refinery, launching their issues, there has been a lot of discussion about grey market and grey market premium (GMP). ET looks at what these terms mean: What is the grey market? The grey market is an unofficial and unregulated market where shares are traded even before they are listed on the main exchanges. In this market, transactions happen in person, unlike exchange trades that see no human intervention.

Toyota is selling a part of its stake in components maker Denso to raise cash for its drive toward electric vehicles and other innovations

By Svea Herbst-Bayliss and Laura Sanicola

The scandals of recent years have taken a profound toll on the credibility and trust of the cryptocurrency sector. However, with the SBF trial behind us, Binance’s settlement with the DoJ, and the promise of a Bitcoin ETF creating a positive buzz in the markets, it feels like the industry is at a pivotal moment.

Las Vegas Sands (NYSE:LVS) shares fell after the company announced a proposed secondary public offering of $2 billion of shares of its common stock by Miriam Adelson and the Miriam Adelson Trust.

By Julie Zhu and Zhuzhu Cui

Mark Cuban is selling a majority stake of the Dallas Mavericks to Miriam Adelson, the widow of casino magnate Sheldon Adelson, several media reports said Tuesday. Cuban would keep shares in the team and maintain control of the Mavs' basketball operations, reports said. The NBA Board of Governors must approve the transaction. Bloomberg News and Sportico reported that Miriam Adelson was selling $2 billion of stock in Las Vegas Sands Corp.

Tokyo Gas has joined the race to acquire a minority stake in Think Gas Distribution, Indian natural gas supplier owned by private equity fund I Squared Capital, said two people aware of the development. Founded in 1885, Tokyo Gas is the city gas provider in the Tokyo metropolitan area and surrounding Kanto region. Tokyo Gas is doing due diligence at present, said sources.

Aster DM Healthcare announced on Tuesday that it would sell its stake in its Gulf business to Alpha GCC Holdings for $1.01 billion as it looks to separate its businesses in India and the Middle East. The sale is anticipated to be completed in quarter 4 of financial year ending 2024. “The board of directors of Affinity approved the sale of shares held by Affinity in Aster DM Healthcare FZC to Alpha GCC Holdings Limited and the execution of definitive agreements in connection with the Transaction,” said Aster in a filing. The buyer, owned by Aster India's promoters and funds managed by Fajr Capital Advisors Limited, will have a shareholding ratio of 35:65, respectively.

Cathie Wood's flagship ARK Innovation ETF (ARKK) significantly raised its stake in a clinical-stage biotechnology company on Monday, data from the firm showed.

Cipla was trading marginally higher in the early morning session on Tuesday. The Cipla stock, which opened at ₹1,199 apiece on November 28, rose 0.27% during intraday to ₹1,2020 per share. The stock surged after its European subsidiary Cipla EU successfully completed the acquisition of an additional share in Cipla Maroc SA, a joint venture based in Morocco.

DB Realty jumped 3.42% to ₹211.40 apiece in early trade on Tuesday. In a significant development, the company's promoter group has sold 1.46 crore shares, representing a 2.91% stake in the company. The sale of these shares generated a substantial sum of ₹301 crore.

LIC, promoter of IDBI Bank, has said it plans to retain a part of its stake in the lender to harness the benefits of the bancassurance. Along with the government, Life Insurance Corporation (LIC) will also divest its stake in IDBI Bank but may not exit completely, LIC Chairman Siddhartha Mohanty told PTI in an interview. "We have made it clear that IDBI Bank is our number one partner in bancassurance.

Crown Castle (NYSE:CCI) shares rose more than 3.5% in U.S. premarket trading following a report in the Wall Street Journal that activist investor Elliott Investment Management aims to advocate for changes at the wireless tower owner.

Daryl Hall has sued his longtime music partner John Oates, arguing that his plan to sell off his share of a joint venture would violate a business agreement the duo had