Stake Financial News

Adani Group has increased its stake in Ambuja Cements by 3.6%, bringing it to 70.3%, through the conversion of warrants into equity. The company announced on Wednesday that the Adani family, promoters, has fully subscribed to the warrants program by injecting remaining Rs 8,339 crore out of the total Rs 20,000 crore. In October 2022, Ambuja Cements issued warrants totaling Rs 20,000 crore to the Adanis on a preferential basis at Rs 418.8 per share. Initially, the company received Rs 5,000 crore (25% of the warrant issue) as the mandatory upfront payment. On March 28, 2024, the group paid Rs 6,661 crore towards part of the shares' issuance. Currently, the Ambuja Cements stock is trading at Rs 555, a 47% premium over the issue price of Rs 418.8. The stock rallied 88% in the past three months compared to a 17% jump in the benchmark Sensex.

Competition Commission of India (CCI) said on Tuesday it has cleared the acquisition of additional stake in Thyssenkrupp Industries India by Protos Engineering Company and Paharpur Cooling Towers. Thyssenkrupp Industries India mainly provides engineering, procurement and construction services to execute turnkey projects in various industries and after-sales services, the antitrust regulator said in a statement. Protos acts as an agent for companies that manufacture equipment, machinery and raw materials in sectors, including steel, cement and sugar. It is also the sole selling agent of Thyssenkrupp Industries India.

Rekha Jhunjhunwala, who inherited the portfolio of Rakesh Jhunjhunwala, has made some significant changes to the investments during the quarter ended March. Jhunjhunwala, who owned about 1.8% stake in recently listed Tata Communications towards the end of December quarter, pared the stake in the company by 0.3%, bringing the overall holding to 1.6% at the end of March quarter.

Patanjali Foods share price gained 5.2% on Tuesday. The shareholding pattern on the exchanges showed that CQG Partners Funds have increased their stake in Patanjali Foods to 11.38% during Q4. As per the shareholding patterns on the exchanges, GQG Partners Emerging markets equity fund A Series of GQG Partners Series LLC held 9.31% stake in PatanJali Foods at the end of March 2024 quarter (Q4 FY24).

Indian stock market today: After Hindenburg Research raised concern over the debt positioning in Adani Group shares, Ahmedabad-based Indian conglomerate Gautam Adani had a big relief in January 2024 when the Supreme Court of India delivered its ruling that the Indian business house doesn't need any further investigation. It seems this Supreme Court ruling at the beginning of Q4FY24 worked in favour of the Adani group shares as FIIs raised stakes in six Adani group companies. Those six Adani group companies are Adani Enterprises, Adani Ports, AdaniPower, Adani Green Energy, Adani Wilmar, and Adani Total Gas.

Rekha Jhunjhunwala portfolio: Ace investor Rekha Jhunjhunwala has booked partial profit in her portfolio stock NCC shares. As per the shareholding pattern of NCC for the January to March 2024 quarter, Rekha Jhunjhunwala has trimmed her stake in the construction company from 11.24 percent to 10.10.64 percent. However, stock market experts are still bullish on this Rekha Jhunjhunwala portfolio stock.

ChrysCapital has invested about Rs 600 crore ($70 million) in Ahmedabad-based La Renon Healthcare, valuing it at $800 million. ChrysCap has acquired about 8% stake from the promoter family in a secondary transaction. Incorporated in 2007 by Pankaj Singh, La Renon is engaged in the manufacturing and marketing of branded generic formulations. ChrysCapital is close to acquiring a minority stake in La Renon Healthcare via secondary sale of shares, at a valuation of Rs 6,500 crore ($800 million), ET first reported on February 12. At present, promoter Pankaj Singh & family own about 80% stake in the formulations manufacturer while Peak XV Partners (formerly Sequoia Capital) owns 14% and domestic VC fund A91 Partners owns 6% stake in La Renon. In FY24, La Renon posted a revenue of Rs 1,400 crore and an Ebitda of Rs 300 crore, said sources. O3 Capital advised La Renon on the transaction.

Dolly Khanna portfolio: The Chennia-based ace investor Dolly Khanna's name has appeared in the latest shareholding pattern of Som Distilleries and Breweries Ltd. As per the company's shareholding pattern for the January to March 2024 quarter, Dolly Khanna owns a 1.14 percent stake in the company that has delivered over 90 percent return to its shareholders in one year time.

Vijay Kedia portfolio: As Q4 results 2024 kickstarted with the announcement of TCS results, retail investors would be busy scanning portfolios of ace investors as it gives them an idea about the direction in which the smart money has flown in the recently ended quarter. For such investors, there is a piece of stock market news. Ace investor Vijay Kedia's name has appeared in the shareholding pattern of the airline company Global Vectra Helicorp Limited.

Shareholding of individual investors reflects in the ‘Shareholding Pattern’ of BSE listed companies on reaching 1% stake or above in the company.

Brookfield Asset Management Ltd. is in advanced talks to buy a majority stake in private-credit manager Castlelake LP, according to people with knowledge of the matter.

Rekha Jhunjhunwala portfolio: Those retail investors who follow Rekha Jhunjhunwala's portfolio, there is a piece of stock market news. The ace Indian stock market investor has booked partial profit in one of its portfolio stocks Canara Bank. As per the shareholding pattern of Canara Bank for the January to March 2024 quarter, Rekha Jhunjhunwala has offloaded her stake in the PSU bank from 2.07 percent to 1.45 percent.

MUFG) is buying a 20% stake in HDB Financial Services, a non-banking subsidiary of HDFC Bank at a $9-10 billion valuation, ahead of its proposed IPO, said people aware. The final decision is likely to take place next week at the HDFC Bank board meeting, said people in the know. Once announced this will be among the largest deal in the shadow banking space in India. HDFC Bank owns around 95% of the shadow bank and employees own 5% as ESOPs. The discussions have been ongoing for years but gathered momentum in the last few weeks. The deal is being done at 5 times book value.

Dolly Khanna portfolio: Chennai-based Indian stock market investor Dolly Khanna is known for investing in lesser-known small-cap stocks that tend to outperform the majority of the share market indices. That's why a good number of retail investors and market observers follow ace investor Dolly Khanna's portfolio. They follow the ace investors' portfolio by scanning the latest shareholding pattern of the Dolly Khanna portfolio companies.

₹400 trillion in market capitalization, the sum of what all listed shares are worth. The impressive part is that participation has broadened vastly too. India boasts of over 150 million demat accounts, up from just 20 million or so a decade ago.

Carlyle is in formal discussions with TPG Growth to sell at least 25-30% stake in VLCC Healthcare Ltd, within a year of acquiring the wellness, beauty products and services company, said people aware of the matter. VLCC’s nearly 78% surge in valuation in just 12 months is the key trigger for Carlyle to take some money off the table, the people said. Last January, Carlyle paid Rs 2,700 crore to buy a controlling 66% stake in the three-decade-old homegrown brand that gave the buyout fund an entry into a rapidly growing market for wellness products but one that is facing disruption from younger, nimbler, direct-to-consumer (D2C) brands.

Warburg Pincus has bought a majority stake in Chennai-based Appasamy Associates, India's largest maker of ophthalmic equipment and intraocular lenses (IOLs). Financial details of the transaction were not disclosed. Appasamy operates across the entire value chain of ophthalmic devices — diagnostic, surgical equipment, and IOLs, according to company statement. ET was the first to report last July that Warburg Pincus was in advanced stages of talks to acquire Appasamy, having signed an exclusivity agreement, and started due diligence of the company. Promoters of Appasamy were expecting a valuation of ₹3,000-₹3,200 crore, ET reported at the time. Warburg planned to buy a 60-70% stake in the company and the business would continue to be run by the current management, ET reported. Post the deal, Appasamy will continue to be led by recently appointed CEO, Senthil Kumar who will drive the business going forward with support of the promoter family and in partnership with Warburg Pincus, according to the statement. Appasamy is also the exclusive distributor for Canon medical equipment in India.

Coimbatore, where BJP has fielded its Tamil Nadu chief, DMK has taken the seat back from ally CPIM to put its own candidate and AIADMK has its IT wing head in the fray. CPIM's PR Natarajan, backed by DMK, had won the Lok Sabha seat in 2019 with a vote share of 45.66%, with BJP's CP Radhakrishnan coming in second, getting 31.34% of the votes polled. In this election, DMK has fielded Ganapathy P Rajkumar, a former Coimbatore mayor who joined the party in 2020 after leaving AIADMK, going against its decade-long seat-sharing agreement with CPM for the seat, possibly anticipating a tough fight owing to BJP candidate Annamalai's growing popularity. AIADMK candidate is Singai Ramachandran. Annamalai is predicting BJP to win the seat with 60% votes. Coimbatore, comprising the assembly segments of Coimbatore South, Coimbatore North, Kavundampalayam, Singanallur, Sulur and Palladam, is one of the constituencies in the South where BJP is putting a lot of focus, making its rival parties also to be on high alert. The constituency has seen repeated visits by high-profile leaders to back their candidates. Prime Minister Narendra Modi visited Coimbatore again on Wednesday. TN chief minister MK Stalin and Congress leader Rahul Gandhi will hold a joint rally of the INDIA bloc in the city on Friday in support of Rajkumar.

MUMBAI : Warburg Pincus has picked up a stake in Chennai-based Appasamy Associates Pvt. Ltd., a manufacturer of ophthalmic equipment and devices, in what is the US-based private equity firm's largest investment in the healthcare sector in India, a statement released by the two firms said. Though the firms did not disclose the financial details of the deal, people with knowledge of the matter said that Warburg has acquired around 65% stake in the company for nearly $300 million.

mutual funds and foreign portfolio investors (FPIs) raised stakes in the fintech firm. March quarter shareholding pattern shows that MFs raised their stake in Paytm by 117 bps to 6.15% in Q4, led by investment from Mirae Mutual Fund and Nippon India Mutual Fund. As a result, domestic institutional investors witnessed an increase in stake by 79 bps from 6.06% to 6.86%. FPIs increased their stake in Paytm by 200 bps to 20.64% during the quarter.

One 97 Communications, the parent company of Paytm, shows that the holding of domestic investors has increased in the fourth quarter of FY24 driven by mutual funds along with new FPIs buying the stock. Mutual Funds have increased their stake in Paytm by 1.17% from 4.99% in the quarter ended December 2023 to 6.15% in the March 2024 quarter, led by investment from Mirae Mutual Fund and Nippon India Mutual Fund.