One of India's largest highway and road developers prepared to recover after a massive loss in Wednesday. The company's stock slumped following the raid of tax officials.
Life Insurance Corporation has invested in nine state-owned banks. The Indian-based insurance group has invested around ₹2,750 crore in shares of nine banks in order to strengthen their capital reserve.
Rare Enterprises, the company of ace investor Rakesh Jhunjhunwala, picked up 6.85 lakh shares of India-based liquor firm Radico Khaitan via open market in a deal valued at INR11.50 crore.
Indian state-run insurance firm Life Insurance Corp (LIC) sold a 2.001% stake in Pune-based metal forger Bharat forge in a deal valued at INR150.53 crore, reducing its total stake in the company to 5.0205%.
Srinath Batni, a member of the Board of Directors of India-based IT services provider Infosys, sold 20,000 company shares for INR7.46 crore at the Bombay Stock Exchange (BSE).
Singapore-based private equity firm Nalanda Capital has increased its holding in Mumbai, India-based underwear manufacturer Lovable Lingerie Ltd to 8.79% in a deal valued at $3.25 million.
Zyden Gentec Ltd.'s shares fell by 5% to INR15.25 per share after Punjab National Bank's recent stake sale. PNB had sold 335,141 of its shares in the pharmaceutical company, which represents a 3% equity ownership.
Hero MotoCorp on Wednesday announced its buyout of 17.49 lakh shares in HMC MM Auto Ltd., which represents a 60% stake in the company. HMC MM Auto Ltd. is a joint venture of Hero MotoCorp and Italian automobile company Magneti Marelli.
Idea Cellular board director Sanjeev Aga exited from his 5,000 shares in the Indian mobile network operator for INR8.81 lakh. Aga has been credited for launching Idea Cellular.
The stock of India-based Mahindra Holidays rose 5% after the company announced it had sold all its shares in two hotel firms in Austria for an undisclosed sum.
Information, communication and technology (ICT) solutions provider Tech Mahindra is holding a board meeting on Friday to consider a merger with engineering firm Mahindra Engineering Services.
In a filing on the Bombay Stock Exchange, the State Bank of India said that it had raised its stake in its Indonesian subsidiary by 99%.
Despite the current market trends in India, a total of six small and medium enterprises had filed IPOs in the last one month.
Infosys Q1 results were as expected and stocks rose by around 15%.
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