Stake Financial News

Zomato through bulk deals on Wednesday, March 6, according to data available on BSE. Antfin offloaded a total of 176.4 million shares of the company within the price range of ₹160.11 to ₹160.40 per share. The Chinese company held a 6.32% stake in the quick commerce services provider, as of December 2023.

MUMBAI : Mumbai: Prudential Management and Services Pvt Ltd, a subsidiary of Mahindra & Mahindra's promoter group, has initiated a sale of up to 9.3 million shares, representing 0.75% of the company's stake, through block trades, according to term sheet, reviewed by Mint. According to the company's term sheet, the transaction is valued at ₹1777.7 crore ($215 million), and the shares are being offered at a price range of ₹1,911.5 to ₹1,970.65, apiece. Kotak Securities is overseeing the sale process.

NLC India through an offer for sale (OFS) this week, to raise up to ₹2,200 crore ($266 million) at current prices, Reuters reported Wednesday citing sources. The report said the government will offer to sell 5% of its stake in the state-run firm with an option to sell an additional 2% stake if there is more demand. The government holds a 79.2% stake in NLC India as of December 2023, whose shares have nearly tripled over the last year to ₹226.70 as of Wednesday.

₹2,800 crore through a block deal, reported CNBC-Awaaz on Tuesday. The floor price for the block deal has been fixed at ₹159.4 per share, which represents a 4 per cent discount on the current market price of Zomato stock, according to the report. Shares of Zomato closed 1.8 per cent lower at ₹166.8 on the BSE on Tuesday.

Super Tuesday emerges as a pivotal moment, with 15 states and one U.S. territory casting their votes today. This electoral extravaganza is set to shape the trajectory of both Democratic and Republican races, providing a clearer glimpse into the potential nominees for the highest office in the land.

America’s two most powerful political parties will move closer to selecting their Presidential nominees for the upcoming 2024 election on Tuesday. In an event known as ‘Super Tuesday’, more than a dozen American states will vote in the primary elections for both the Democratic and Republican parties. Incumbent President Joe Biden is expected to comfortably march to the Democratic nomination, while former president Donald Trump is expected to defeat Nikki Haley for the Republican nomination.

MILAN (Reuters) -Italy's Agnelli family has a 10.1% stake in New York-listed information services provider Clarivate through their investment arm Exor (AS:EXOR), the two companies said on Monday, adding that Exor could increase its stake to up to 17.5%.

By Lefteris Papadimas and Angeliki Koutantou

Shankar Sharma portfolio: Ace investor in the Indian stock market, Shankar Sharma has bought a fresh stake in MOS Utility shares. As per the information available on the NSE website, Shankar Sharma bought 1,48,800 shares of the NSE SME stock. After the outbreak of this stock market news, MOS Utility shares witnessed strong buying interest in the morning session and the stock touched an intraday high of ₹172.40 apiece, which turned out a new 52-week high for the SME stock.

Conagra Brands' sale of a 51.8% stake in Agro Tech Foods at a 48% discount to the market price and the subsequent mandatory open offer at a 43% discount to Thursday's closing price have raised eyebrows on Dalal Street. Market participants were surprised by this move, likening the decision to suggest that certain midcap stocks are either significantly overvalued or face underlying hidden challenges. On Thursday, Conagra announced the sale of a 51.8% stake in Agro Tech at ₹515 per share, despite the market price being above ₹1,000 apiece. The mandatory open offer of 26% to the public shareholders was set at ₹578 apiece, representing a discount of 43% from Thursday's closing price and a discount of 17% from the average price of the stock over the past year. The stock locked in a 20% lower circuit on Friday to close at ₹804.15.

Vodafone Idea (Vi), Neeraj Mittal, secretary in the department of telecommunications, said as he welcomed the approval given by the cash-strapped carrier's board to a fund-raise proposal. "We'll have to examine everything, if there is an opportunity, there is a need for it, how do the next few months look like in terms of their operations," he said in an interview, adding that the government may not look at divestment immediately. The Union government is the largest shareholder in Vodafone Idea, India's third-largest carrier, with a 31% stake.

A person who previously pleaded guilty in a welfare misspending case in Mississippi is making new allegations about former Gov. Phil Bryant

BENGALURU (Reuters) -Japan's SoftBank (TYO:9984) Group has further reduced its stake in beleaguered Indian payments firm Paytm to 2.83% from 5.01%, an exchange filing showed on Thursday.

KKR & Co. is exploring options including selling its controlling stake in India’s JB Chemicals & Pharmaceuticals Ltd. amid interest from potential buyers, according to people familiar with the matter. The US private equity firm is looking to hire financial advisers to help evaluate a sale of its 53.8% stake in the Mumbai-based company, the people said, asking not to be identified as the matter is private. Other buyout firms and industry players have shown preliminary interest in buying KKR’s stake, the people said. Shares of the company, which is known as JB Pharma, have climbed 68% in the past 12 months, valuing the firm at just over $3 billion.

HDFC Bank received approval from the Reserve Bank of India (RBI) to sell its 90% stake in the education loan company HDFC Credila Financial Services Ltd- a move that will boost private lender’s income in the fourth quarter. HDFC, the erstwhile term lending institution, had executed a definitive agreement to divest 90% of its stake in HDFC Credila subject to approval from the regulator, a stock exchange notice on June 19 said. On July 1, last year, HDFC Ltd, the parent housing finance company, was amalgamated with HDFC Bank. Thus, the entire investment was transferred from the parent to the bank.

Indian stock market sentiment upbeat but investors need to be cautious, says Divam Sharma of Green Portfolio, PMS In August 2023, the Competition Commission of India (CCI), the antitrust regulatory body, approved the acquisition of a 90 percent equity holding in HDFC Credila by a private equity consortium consisting of BPEA EQT and ChrysCapital. On June 20 last year, HDFC Ltd disclosed to the exchanges that it had entered into definitive agreements for the potential sale of a 90 percent share in HDFC Credila to a consortium of private equity firms for approximately ₹9,060 crore.

By Jonathan Stempel

By James Oliphant

Bankrupt cryptocurrency exchange FTX has been permitted to sell its shares in the artificial intelligence firm Anthropic, according to an issue ordered by U.S. Federal Judge John Dorsey on Thursday.

Wednesday, February 21st, 2024 – The latest addition to the Solana meme coin frenzy, Smog Token is going from strength to strength as thousands join its airdrop and its cross-platform social community surpasses 55,000. The 14-day-old coin sits on a price gain since launch of more than 4,000%.

ITC is evaluating the purchase of a 47% stake held by Peak XV Partners (formerly Sequoia Capital) in listed Prataap Snacks, said people with knowledge of the matter. This follows the failure of talks with Haldiram's owing to a valuation mismatch. Prataap is best known for Yellow Diamond chips and traditional Indian namkeen under the Avadh brand. Listed Bikaji Foods, another large snacks company, had also looked at the deal but those negotiations also fizzled out, said people in the know. Buyout funds KKR, TA Associates and Apax are among others that have been tapped since Peak XV initiated a plan to fully exit its nearly 13-year-old investment in Prataap and hired Deutsche Bank to sell the company. The transaction if successful will trigger an open offer for an additional 26% of the Indore-based company, which has been a laggard ever since its stock market debut in 2017 when it listed at a 33% premium. Prataap ended 1% down at ₹1,174.45 for a market value of ₹2,802.19 crore on Wednesday.