Stocks to Watch: RIL, L&T, ICICI Bank, TCS, Tata Steel, SpiceJet
Reliance Industries: Reliance Retail Ventures Limited announced today that global investment firm KKR, through an affiliate, will invest ₹ 2,069.50 crore into RRVL, a subsidiary of Reliance Industries Limited. This investment values RRVL at a pre-money equity value of ₹ 8.361 lakh crore, which makes it among the top four companies by equity value in the country.
KKR’s follow-on investment will translate into an additional equity stake of 0.25% in RRVL on a fully diluted basis. This, combined with its stake from its investment of ₹ 5,550 crore in RRVL in 2020, will take its total equity stake in RRVL to 1.42% on a fully diluted basis.
L&T: Engineering and construction giant Larsen and Toubro Ltd (L&T) on Monday evening increased its offer price to ₹3,200 apiece from ₹3,000 per share, for its proposed upcoming ₹10,000 crore share buyback, as the stock rallied and the premium to market price narrowed since the original announcement in July. On 26 July, L&T had announced the buyback—the first such offer in its eight-decade-long history.
L&T had said it may offer to buy back a 2.4% stake, or 33.33 million shares, held by public shareholders through a book-building process on the stock exchange. ICICI Bank: The Reserve Bank of India has approved the reappointment of Sandeep Bakshi as ICICI Bank MD & CEO |for a period of three more years and he will remain in the post till 3 October 2026.
Sandeep Bakhshi has been with the ICICI Group for 36 years and has handled various assignments across the group in ICICI Limited, ICICI Lombard General Insurance, ICICI Bank and ICICI Prudential Life Insurance. Earlier, the ICICI Bank's board of directors reappointed Sandeep Bakshi as the MD and CEO for a period of three years, said in a
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