Stake Financial News

Paytm, in a large block deal on Friday, November 24. Berkshire Hathaway sold 1.56 crore shares or 2.5 per cent of equity worth nearly ₹1,370 crore at an average share price of ₹877.29, according to NSE data. Buffett had picked up a 2.6 per cen stake in Paytm in 2018, investing nearly ₹2,200 crore, valuing the leading fintech giant at $10–12 billion, according to reports.

Life Insurance Corporation of India (LIC) has trimmed its stake in Engineers India, a leading global engineering consultancy and EPC company, by about 2% through open market. The insurance behemoth disclosed in a regulatory filing on November 23 that it sold 1.14 crore shares of Engineers India during the period from February 02, 2021, to November 22, 2023, at an average price of ₹118.08 apiece. As a result of this transaction, LIC's overall stake in Engineers India has come down to 3.122% from the previous 5.155%.

Adani Wilmar Ltd for $2-2.2 billion, two people aware of the development said. No single entity is expected to acquire the stake on offer, and the Adani group may farm out shares in the edible oils maker to multiple buyers, the people cited above said on condition of anonymity. “Apart from Wilmar, there are at least four global funds who are keen to buy Adani’s stake in Adani Wilmar, and the plan is to finalize the deal before the end of FY24," the first person added.

Amber River said the asset manager will also continue to work with adviser businesses outside of the group post-acquisition.

₹3,425.00 apiece on the BSE. Titan shares rose today after the company received approval from the Competition Commission of India to purchase an additional stake in its subsidiary CaratLane. On November 21, Titan share price rose over a percent and crossed the market capitalisation of ₹3 lakh crore for the first time.

Hindustan Media Ventures Ltd on Tuesday said it will acquire a 3.54 per cent stake for Rs 11.99 crore in DSM Fresh Foods, which operates direct-to-consumer online meat delivery brand Zappfresh. The company entered into an agreement on November 20, 2023, for making an investment of Rs 11.99 crore by subscribing to 807 equity shares of DSM Fresh Foods Pvt Ltd, constituting 3.54 per cent holding of the fully diluted share capital of the target entity, Hindustan Media Ventures Ltd (HMVL) said in a regulatory filing.

Crypto media platform CoinDesk has been acquired by crypto exchange Bullish on Nov. 20 for an undisclosed sum, according to a report published in The Wall Street Journal (WSJ).

Argentina heads to vote on Sunday to choose from option to bring the Argentine economy out of an economic catastrophe. The contestants- Economy Minister Sergio Massa, from the ruling Peronist party, against libertarian outsider Javier Milei. Milei stands out for displacing a traditional center-right coalition in the first round of voting last month.

Softbank on Friday divested a 2.5% stake in integrated logistics provider Delhivery for Rs 739 crore through an open market transaction. According to the bulk deal data available with the NSE, Softbank through its affiliate SVF Doorbell (Cayman) Ltd sold 1,83,05,480 shares, amounting to a 2.5% stake in Delhivery. The shares were disposed of at an average price of Rs 403.51 apiece, taking the aggregate deal size to Rs 738.64 crore. After the transaction, Softbank's shareholding in Delhivery has reduced to 11.96% from 14.46%. Shares of Delhivery fell 3.46% to close at Rs 399.55 apiece on the NSE. In March, Softbank divested a 3.8% stake in Delhivery for Rs 954 crore through open market transactions. Over the past few months, Softbank divested its stake in online food ordering company Zomato and Policybazaar's parent firm PB Fintech.

Mukul Agarwal portfolio: Shares of Gensol Engineering Ltd have been in consolidation phase after trading ex-bonus on 17th October 2023. The energy stock traded ex-bonus for finalising eligible shareholders for issuance of 2:1 bonus shares. This means, two bonus shares were issued for evey one share held by eligible beneficiaries.

Thursday, November 16, 2023 – The Bitcoin price is retracing higher as bulls retarget $40,000, while switched-on crypto traders continue to place bets on new stake-to-mine Bitcoin alternative Bitcoin Minetrix as its ICO soars past $4 million.

IDBI Bank Ltd may not be completed in the current fiscal year. Pandey said that the transaction is “on course" but there are aspects like the RBI's fit and proper criteria which need to be complied with. “We practically don't think that before March, we can conclude it (IDBI Bank stake sale)," he said.

(Reporting by Svea Herbst-Bayliss in New York with additional reporting by Jennifer Saba in New York, Dawn Chmielewski in Los Angeles and Arsheeya Bajwa in Bengaluru; Editing by Arun Koyyur, David Gregorio and Chris Reese)Milestone Alert!Livemint tops charts as the fastest growing news website in the world

Following the transaction, AlbaCore will continue to operate with investment autonomy and will not see a change to its operations, teams, office locations or brand.

Siemens AG on November 15 said it is planning to purchase an 18 percent stake in the Indian joint venture, Siemens Limited, from Siemens Energy, Reuters reported. The proposed acquisition is valued at ₹18,968 crore (2.1 billion euros or $2.28 billion) and represents a discount of 15 percent based on the average price, it added.

Siemens AG will buy an 18% stake from Siemens Energy in their Indian joint venture Siemens Ltd for €2.1 billion, which is a discount of 15% on the average price. «The purchase price reflects a customary discount of 15% on the 5-trading-days volume-weighted average price before the day of signing,» said Siemens AG. Siemens shares rallied around 4% to Rs 3566.50 on BSE following the news. September quarter shareholding pattern shows that Siemens Energy owned a 24% stake in Siemens Ltd, while Siemens International owned 47.70% in the company. The remaining 3.3% stake is owned by Siemens Metals Technologies, which is also a promoter group company. Earlier in the day, Siemens Energy said it is reviewing the structure of Siemens Gamesa in a bid to return to profit the struggling wind division which caused a €4.6 billion ($5.0 billion) annual net loss for the group. Siemens Gamesa once considered the future growth driver for Siemens Energy, has become a millstone around the group's neck after deeper-than-expected wind turbine quality issues were disclosed in June. The division is now only expected to break even in the 2026 fiscal year, Siemens Energy said. A day earlier, Siemens Energy secured a €12 billion credit line from private banks that were partly backstopped by the German government, removing a major concern for investors who feared the group could lose out on business as a result. The group, which was spun off from Siemens AG in 2020, said it made no further provisions for faulty onshore turbine platforms following an analysis of its fleet.

Power Corp. of Canada, the holding company of Canada’s billionaire Desmarais family, increased the estimated value of its Sagard Holdings alternative investments unit after closing a deal to sell a minority stake in it.

ALS is evaluating its minority stake in troubled European drug research business Nuvisan, contemplating an exit or even taking full control of the asset, after the clinical outsourcing business delivered an unprofitable half.

(Reuters) — Pension fund AustralianSuper has increased its stake in Origin Energy to 16.50%, the Australian power producer said in an exchange filing on Tuesday.

(Reuters) — Google-parent Alphabet (NASDAQ:GOOGL) said on Monday it had dissolved its stake in trading app operator Robinhood (NASDAQ:HOOD) Markets.

Seven West Media, the broadcaster backed by billionaire Kerry Stokes, has become the largest shareholder in ASX-listed radio company ARN Media after grabbing a 19.9 per cent stake in an off-market weekend raid.