Stake Financial News

Cathie Wood’s flagship fund has sold shares in Coinbase as the cryptocurrency exchange’s stock price runs up on excitement over its role in the proposed launch of a bitcoin exchange-traded fund.

Apex Greenhouses, the largest builder of commercial greenhouses in Australia and New Zealand, has agreed to sell a minority stake in the business to Dutch aggregator GreenV BV to strengthen its ability to compete against bigger players.

While the adoption of digital payment modes has brought a lot of convenience, they have also made us vulnerable to fraudsters who are coming up with new ways to cheat unsuspecting customers by gaining access to their main bank accounts and wiping off large amounts of money. This is because you use your main account to make every kind of transaction and end up exposing large sums of money to fraudsters.

THe company will acquire an additional 20.6% stake in Lavelle Networks in multiple tranches. “In furtherance to the earlier communication dated January 31, 2022 and in terms of terms of Regulation 30 of the SEBI Listing Regulations, we wish to inform you that the Company has entered into an agreement resulting in acquisition of aggregate 45.6% stake in Lavelle Networks Private Limited, in which the Company currently holds 25% stake," the company said in its stock filing.

Bhushan Steel in 2018, has challenged the Delhi High Court order regarding an avoidance application in the Supreme Court. The division bench stated that Tata Steel cannot benefit from the amounts received, and those benefits of about Rs 1,000 crore should be appropriated to the creditors, according to two lawyers aware of the development. Tata Steel is challenging the January 13 order where the Delhi High Court directed the National Company Law Tribunal (NCLT) to proceed with the hearing of the avoidance application but said the amount recovered can be distributed amongst the secured creditors in accordance with law as determined by the NCLT. The Supreme Court’s decision in this case will have significant implications for the resolution process and the treatment of avoidance transactions in insolvency cases including Srei, which is undergoing in-court restructuring and has reported fraudulent transactions of Rs 13,000 crore. According to a report by the Insolvency and Bankruptcy Board of India, 777 applications regarding avoidance transactions worth Rs 2.2 lakh crore have been filed with insolvency tribunals at various levels until March 2022. The Supreme Court heard the matter on Friday and the next hearing could be after 6-8 weeks, a lawyer said. A Tata Steel spokesperson said that the company has filed a special leave petition (SLP) before the Supreme Court against the Delhi High Court judgment dated January 13, 2023. The said SLP was listed before Supreme Court on July 7, 2023.

Vijay Kedia portfolio: Ace investor Vijay Kedia has raised shareholding in small-cap stock, which is priced below ₹50. The market magnate has bought additional 30 lakh company shares during April to June 2023 quarter. As per the shareholding pattern of the company for Q1FY23, Vijay Kedia is holding stake in this company through his company Kedia Securities Private Limited.

Supreme Court on Monday dismissed Vedanta's plea to direct the Centre to divest its 29.54% residual stake in Hindustan Zinc (HZL) in the open market, saying it cannot interfere with a «policy decision». A Bench led by Chief Justice DY Chandrachud, while rejecting Vedanta's application, said the company giving up on its call option was not conditional on the government having agreed to sell its stake in the open market.

Tata Communications International Pte Ltd., a wholly owned unit of Tata Communications, has signed a share purchase agreement to buy the remaining nearly 42% stake of Oasis Smart Sim Europe SAS for Rs 99.3 crore ($ 12 million). Tata Communications had acquired a majority stake (58.1%) in Oasis Smart Sim Europe SAS in 2020. “The transaction enables TCIPL to gain complete 100% equity shareholding in Oasis Smart SIM Europe enabling Tata Communications to accelerate and augment Tata Communications MOVE platform roadmap for global markets,” the company said in a stock exchange notice Monday.

Vijay Kedia has added 0.39% stake in smallcap stock Patel Engineering during the June quarter. According to the latest shareholding data available with the exchanges, Kedia Securities has raised stake to 1.68% in the June quarter, up from 1.29% in the preceding March quarter. The company is majority public owned with 55.79% stake, while promoters own the remaining 39.41%.

Vadilal Industries soared over 14% in intraday trade on Monday following reports that Bain Capital is looking to buy a stake in the company. The stock was last trading at Rs 3189.20, up 14.92% from the previous close on BSE. So far this year, the shares have risen nearly 19% on a year-to-date basis.

VIENNA (Reuters) — Saudi National Bank wanted to increase its stake in Credit Suisse to around 40% from 9.88%, but was prevented from doing so by Swiss regulator FINMA, Blick newspaper reported on Sunday.

Credit Suisse's largest shareholder, the Saudi National Bank, wanted to raise its stake to 40% ahead of the Swiss bank's collapse in March, Swiss newspaper Blick reported. The lender, which held just under 10% of Credit Suisse shares, had approached the Swiss government and regulators with a group of investors to inject $5 billion into the beleaguered bank, according to the newspaper, which cited two sources it didn't identify.

₹2,750 per equity share in NSDL, HDFC Bank bagged a cash consideration of ₹110 crore. After the first tranche stake sale, HDFC Bank held an 8.95% stake in NSDL.

₹11,330 crore) from stock sales in three group firms, bringing the total amount raised over the past four years to USD 9 billion as the conglomerate attracts interest from a variety of investors. In a statement, the ports-to-energy conglomerate said it "is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management program, which was formulated in 2016 to execute the plans for various portfolio companies." "In the most recent instance, Adani family has raised USD 1.38 billion ( ₹11,330 crore) through stake sale in the three portfolio companies - Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Transmission Ltd," it said.

Adani has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in three group companies, taking the total capital raised over four years to USD 9 billion as the conglomerate draws interest from a cross-section of investors. In a statement, the ports-to-energy conglomerate said it «is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management program, which was formulated in 2016 to execute the plans for various portfolio companies.» «In the most recent instance, Adani family has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in the three portfolio companies — Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Transmission Ltd,» it said.

Digital Labs Private Limited (ADL), a subsidiary of Adani Enterprises, has recently completed the acquisition of a 29.81% stake in Enterprises Private Limited (SEPL), popularly known as Trainman, an innovative online train booking and information platform. The official announcement regarding this strategic acquisition was filed with the exchange on July 7. This move follows Adani Enterprises' previous declaration of its intention to obtain full ownership of SEPL.

HDFC Bank will sell a 2% stake in the initial public offering (IPO) of National Securities Depository (NSDL), the lender informed exchanges on Sunday. The lender holds a 8.95% stake in NSDL, which handles most of the securities held and settled in dematerialised form in the Indian capital market.

Gautam Adani's business conglomerate, has acquired approximately 30 percent ownership in Start Enterprises Pvt Ltd (SEPL), the parent company of Trainman, an online platform for booking train tickets. Adani Enterprises had previously disclosed its intention to purchase the entire stake in SEPL.

Mukul Agrawal has raised his stake in Capacit'e Infraprojects from 1.91% or 13 lakh shares to 4.33% or 29.38 lakh shares as on the quarter ended June 30, according to the BSE shareholding data. He has raised his stake by 2.4% over the March quarter, the data on shareholding pattern suggested. The value of his stake now stands at Rs 64.2 crore according to Trendlyne.

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content.

Arokiaswamy Velumani — the founder of diagnostic chain Thyrocare, which was acquired by PharmEasy in 2021 — had secured anti-dilution rights ahead of his investment of Rs 1,500 crore in the online pharmacy, people aware of the investment terms said. This will ensure he is allotted new shares to compensate for the massive erosion in the current value of his holding in the company, they added, as PharmEasy looks to raise fresh capital through a rights issue at a 90% discount to its peak valuation, as reported by ET first on Wednesday.