Stake Financial News

SoftBank, through its affiliate SVF Growth Singapore Pte, has sold a 1.09% stake in food delivery company Zomato through block deals on Friday. According to exchange data, the transaction was executed at 111.2 per share, which valued the deal at 1,040 crore. SoftBank holds a 2.17% stake in the company, at the end of the September 2023 quarter. Marquee funds, including Citigroup, Axis MF, Bandhan MF, ADIA, Fidelity, Goldman Sachs, Morgan Stanley, and Motilal Oswal among others bought stakes in the company through the deal. In August this year, SoftBank offloaded about 1.17% Zomato stake under a block deal, which was valued at Rs 947 crore.

British billionaire Jim Ratcliffe is trying to buy a minority stake in Manchester United and that could give him a major say in the running of the underperforming club

SoftBank, through its affiliate SVF Growth Singapore Pte, is likely to have sold 1.09% equity in Zomato in a bulk deal worth Rs 1,040.5 crore on Friday. Shares of the new-age company were trading 1% higher at Rs 112.70 on BSE. SoftBank owned a 2.17% stake in the company at the end of the September quarter. In August this year, SoftBank had offloaded about 1.17% stake in Zomato via a block deal, which was valued at Rs 947 crore.

₹1,020 crore on 20 October, as the Japanese fund plans a full exit from the food delivery business. SoftBank’s stake sale decision in Zomato follows the latter’s dramatic rise in market price over the past year. According to exchanges, over the past one year, Deepinder Goyal-founded Zomato’s price has gone up by 80% to ₹111.65 from ₹62.05.

By Divya Rajagopal and Neha Arora

Tata Motors said it will acquire a 27% stake in digital logistics solutions platform Freight Tiger for Rs 150 crore, with an additional investment of Rs 100 crore over the next two years, according to a company filing on the BSE on Thursday. Freight Tiger is a digital platform that provides end-to-end logistics value chain solutions for cargo movement across India. It connects shippers, carriers, logistics service providers and fleet owners to a single digital marketplace, along with other Software as a Service (SaaS) solutions to streamline logistics interactions such as freight tracking, assignment, carrier matching, documentation, and payment processing.

Multibagger stock: Gokaldas Exports share price has surged to the tune of 150 per cent in year-to-date (YTD) time. However, it seems that Narayan Murthy-backed Catamaran Ventures sees more steam in this multibagger stock.

V.F. Corp. (NYSE:VFC) shares jumped 11% Tuesday after activist investor firm Engaged Capital said it has built a position in the apparel brand company.

Vijay Kedia slashed his stake in two smallcap stocks — Tejas Networks and Elecon Engineering Company — during the September quarter, as per the latest shareholding data available on the BSE. Kedia, who holds equity in the company through Kedia Securities, reduced his stake in Tejas Networks by 12 bps to 1.89% in the quarter ended September 2023 from 2.01% in the preceding quarter. The Bengaluru-based company, which offers telecommunications products and services, has given a return of over 45% this year while its 1-year return stands at 25%, higher than the YTD and 1-year returns of 8% and 12%, respectively, given by Nifty50. On Wednesday, the stock was trading with a positive bias, up 2.38% from the previous closing price. The celebrity investor also trimmed his holding in Elecon Engineering Company by 18 bps to 1.60% at the end of the September quarter from 1.78% in the June ended quarter. The stock fell 1.48% on the BSE today. The partial stake sale in the stock comes in the wake of multibagger returns given by the counter.

₹214.8 apiece. This significant increase was attributed to a media report stating that CK Birla had approached Gautam Adani to sell his promoter stake in the company. The Economic Times, quoting sources, reported that CK Birla reached out to Gautam Adani after turning down initial offers from other domestic players that did not meet his valuation requirements.

New Zealand broadband play Devoli is preparing for movement on its register as a major shareholder looks for the exit.

New York | Activist investor Starboard Value, which has built a position in News Corp, wants the Murdoch-family controlled media giant to separate its Australian real estate business.

(Reuters) — U.S. asset management giant Vanguard Group has sold its 49% stake in a joint venture with Jack Ma-backed Ant Group Co, Bloomberg News reported on Tuesday, citing people familiar with the matter.

₹79 per share, 12 percent lower as against the closing price of ₹89 per share on the BSE on October 17. The government expects to raise about ₹1,100 crore via the stake sale, as it would be offloading a total of around 14 crore shares. On the first day of the OFS, a total of 7 crore shares would be offered for sale, accounting for 3.5 percent of HUDCO's overall stake.

Dolly Khanna portfolio: Shares of Talbros Automotive Components Ltd have delivered stellar return to its shareholders in new financial year 2023-24. This Dolly Khanna stock has surged from around ₹390 to ₹1,140 apiece levels on NSE, delivering to the tune of 200 per cent in last six and half months. However, it seems that Chennai-based investor Dolly Khanna is still finding steam in this multibagger stock.

Ashish Kacholia trimmed his stake in smallcap stock Xpro India by 42 bps during the September 2023 quarter, taking his holding in the company to 3.91%. Kacholia held a 4.33% stake in the company at the end of the June quarter. According to a July 9 filing on BSE, Kacholia trimmed his equity stake by 52 bps to 3.81% but later added 10 bps to bring it to 3.91% at the end of the September quarter. Xpro India is a diversified multi-divisional company with business interests in polymer processing.

Ashish Kacholia portfolio: Amid Q2 results 2023 underway, retail investors and market observers are busy scanning portfolio of ace investors because it gives them an idea about the stocks on which stock market magnates are bullish upon. For such retail investors who follow portfolio of ace invetors, there is a piece of stock market news. Ace investor of Dalal Street, Ashish Kacholia has raised stake in one of his portfolio stocks despite getting 90 per cent return from this small-cap stock in YTD time.

Ford Motor Co. Executive Chairman Bill Ford has called on autoworkers to come together and end a monthlong strike that he says could cost the company the ability to invest in the future

Comodo Motors general manager Jordan Baker joins The Big Money Show to discuss the impact on auto dealers and car buyers from the ongoing UAW strike.

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Starboard Value has built a stake in News Corp and the activist shareholder plans to push for strategic and governance changes at the Wall Street Journal parent. Starboard believes News Corp, one of the two arms of Rupert Murdoch’s media empire, trades at a significant discount to its fair market value due to its conglomerate structure, according to people familiar with the matter. Starboard plans to recommend News Corp spin off its digital-real-estate division, which includes a stake in Australian online-property-site operator REA Group and Realtor.com parent Move Inc.