L&T buys shares of Mindtree worth Rs 144 crore through open market
Posted on 8th May 2019 |
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| Construction major L&T on Tuesday bought shares worth about Rs 143.70 crore of Mindtree through open market transactions. According to the bulk deal data available with the NSE, the firm bought over 1.46 million shares, which is 0.89 per cent of Mindtree's share base, at an average price of Rs 979.93 a share. L&T on Monday purchased over 1.15 million shares worth around Rs 113 crore of Mindtree thorough the similar route. After these transactions, the current holding of L&T in Mindtree stands at 21.63 per cent. Amid a takeover bid, L&T had concluded the purchase of 20 per cent stake of Coffee Day founder in the Bengaluru-headquartered IT services firm for about Rs 3,210 crore last week. The company is currently in the process of buying an additional 15 per cent stake from the open market and Monday's bulk deal is part of this initiative. L&T is pursuing a controlling stake of 66 per cent in the mid-tier IT firm for around Rs 10,700 crore. However, the unsolicited takeover attempt is being opposed by Mindtree's founders, who are seeking more clarity on L&T's plan. Mindtree's panel of independent directors is in the process of evaluating L&T's open offer proposal and will give its recommendations by May 10. The open offer will begin on May 14 and close on May 27. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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