Stake Financial News

According to data released by BSE, mutual funds expanded their shareholding in the March quarter to 6.15% from 4.9% in December 2023. Mirae Mutual Fund and Nippon India Mutual Fund have acquired more shares in Paytm in these three months.

₹1,411 crore via open market transactions on Tuesday. This divestiture entailed the sale of 81.20 lakh shares of Gland Pharma through separate bulk deals on the National Stock Exchange (NSE). As per NSE data, Lakumi Trust divested 61.65 lakh shares of Gland Pharma, while Nicomac Machinery sold more than 19.55 lakh shares, equating to a 3.74 percent and a 1.18 percent ownership stake in the company, respectively.

BofA Securities has invested in TAC Security, a recent debutant on the NSE SME platform, through its fund – BofA Securities Europe SA. Anchor investor NAV Capital VCC has also added more shares of TAC Security to its portfolio. Marquee investors, including Astorne Capital VCC, Beacon Stone Capital VCC – Beacon Stone I, Zinnia Global Fund PCC – Cell Dew Cap Fund and LC Radiance Fund VCC subscribed to the anchor book ahead of the IPO.

Dixon Technologies has said it plans to buy a majority stake in Ismartu India, a manufacturing unit of Chinese phone maker Transsion Holdings, to expand its business. Dixon will initially acquire 50.10% stake for Rs 238.36 crore in an all-cash deal while additional acquisition will be done in FY27 for an aggregate consideration, which shall be decided on the basis of a valuation of 20 times of profit after tax of Ismartu for FY26, Dixon said in a regulatory filing late Monday. Dixon added that upon successful acquisition of the second tranche of shares, it will hold an additional stake between 1.60% to 5.90% in Ismartu India.

Parag Parikh Flexi Cap Fund, the largest scheme in the flexi cap category based on assets managed, bought 8.8 lakh shares of ITC last month amid selling pressure on the Nifty stock amid a stake sale by British American Tobacco Plc (BAT). The share price of ITC fell to Rs 399.35 on March 12, 2024. BAT on March 13 sold a 3.5% stake in ITC through open market deals at Rs 400.25 a share, amounting to a total of Rs 17,485 crore. BAT, which makes Dunhill and Lucky Strike cigarettes, sold 43,68,51,457 shares of the cigarette-to-hotels conglomerate to institutional investors through an accelerated book-building process.

Bain Capital has sold its Axis Bank stake at 1,071 rupees ($12.87) per share to raise $429 million, according to a source with direct knowledge of the matter. The source could not be identified due to the confidential nature of the information.

Pegatron is in advanced talks to sell a majority stake in its iPhone manufacturing unit near Chennai to Tata group, people aware of the matter told ET. «The deal is expected to be completed in the coming two to three months, or, (at the) latest, by the second quarter of the fiscal year,» said one of the persons. «However, as of now, it's unclear if this will be a Wistron-type buyout or a joint venture.» Both options are said to be on the table. Wistron, like Pegatron and Foxconn, is a Taiwan-based contract manufacturer for Apple. Tata group acquired its local operations for $125 million (₹1,000 crore) in November last year, becoming the first Indian company to manufacture iPhones.

The dYdX community has voted to stake 20 million dYdX tokens , worth around $60 million at the time of publication, using Stride’s staking service for Cosmos blockchains.

solar eclipse for 21 years, prompting the weekend's worry and mad rush. Monday's extravaganza stretches from Mexico's Pacific beaches to Canada's rugged Atlantic shores, with 15 US states in between.

₹2,230.78 crore. Sanlam Emerging Markets Mauritius Ltd said in a statement that it will increase holding in Shriram General Insurance Co. Ltd by 10.74% and in Shriram Life Insurance Co.

In the trust's annual report for 2023, managers Tim Creed and Harry Raikes set out the progress made towards rebalancing the portfolio to ensure the «appropriate» liquidity to execute the share repurchase programme announced in September 2023 and «support the portfolio». To accomplish this, the managers reduced INOV's holding in Oxford Nanopore, one of the trust's legacy holdings dating back to Neil Woodford's tenure as fund manager of the former Woodford Patient Capital trust. As of 31 December 2022, Oxford Nanopore comprised 23.3% of the trust's total equity holdings. By the end of ...

Adani Power upper circuit: Adani Power share price jumped 5 per cent to hit its upper circuit after Reliance Industries (RIL) picked a stake in the company's MP project. Adani Power share price opened at ₹547.70 against its previous close of ₹533.70 and soon jumped 5 per cent to hit its upper circuit level of ₹560.35 on BSE.

Grayscale, a prominent digital asset management firm, has unveiled plans to launch a “dynamic income fund” dubbed GDIF, focused on investing in proof-of-stake tokens for millionaire investors.

Best Agrolife Ltd (BAL) on Friday announced the acquisition of a 100 per cent stake in Sudarshan Farm Chemicals India Pvt Ltd (SFCL) for Rs 139 crores. The acquisition will enable BAL to leverage SFCL's proficiency in developing cost-effective and distinctive manufacturing routes for off-patent molecules, it said. «This acquisition involves obtaining a 100 per cent stake through cash consideration, with an estimated enterprise value of Rs 139 crores based on the valuation,» the Delhi-based BAL said in a statement. The cash outflow for BAL will be to the tune of Rs 9.5 crore after considering the net working capital and liabilities, it said.

Reliance Industries (RIL) and Adani Power have signed a 20-year power purchase agreement for 500 MW, marking a rare, strategic collaboration between conglomerates led by two of the country’s wealthiest men. The Mukesh Ambani company will invest Rs 50 crore for a 26% stake in a 600MW unit of Mahan Energen’s thermal power plant. The latter is a wholly owned subsidiary of Gautam Adani-led Adani Power. Mahan Energen has agreed to allot 50 million equity shares of Rs 10 face value each to RIL at par, Reliance said in a regulatory filing. “The proposed investment by the company is in compliance with the provisions of the Electricity Rules, 2005,” it said. RIL did not disclose any specific purpose for signing the power purchase agreement.

Warburg Pincus is likely to exit IDFC First Bank by selling its entire 2.3% stake in the lender through block deals on Thursday, according to news reports. Cloverdell Investment, an affiliate of Warburg Pincus, is likely to offload 15.9 crore shares and has set a floor price of Rs 75 apiece. It is looking at raking in Rs 1,191.40 crore through the sale, reports said.

NEW DELHI : Apollo Pipes Ltd, part of the APL Apollo group, has acquired a 53.57% majority stake in Kisan Mouldings Ltd (KML) for ₹118.40 crore, aiming to bolster its position in the PVC pipes and fittings sector. In an exchange filing on Tuesday, Apollo Pipes said that it secured the stake via a preferential issue of 6,40,00,000 equity shares, priced at ₹18.50 per share with a face value of ₹10 each. This capital infusion has led to Kisan Mouldings becoming a subsidiary of Apollo Pipes.

Daiwa Securities Group will acquire a minority stake in Ambit Finvest, an NBFC subsidiary of the Ambit Group. Ambit and Daiwa aim to seize the growth opportunities in the expanding Indian NBFC sector to contribute to the acceleration of financial inclusion.

Alibaba Group said on Tuesday its logistics unit, Cainiao Smart Logistics Network, has withdrawn its initial public offering and listing application on the Hong Kong Stock Exchange. Alibaba, which holds around 64% stake in Cainiao, said it is offering to acquire the remaining stock for up to $3.75 billion.

Bankrupt crypto exchange FTX agreed to sell the majority of its shares in AI startup Anthropic for $884m, according to court filings from Friday.

Mint, Beige Ltd. is offering to sell up to 11.63 million shares, representing 2.9% of Mankind Pharma's total stake. Additionally, Link Investment Trust is also participating in the block deal, selling up to 58,385 shares (0.015% stake).