Vedanta
In an exciting development, Vedanta Ltd, under the leadership of Chairman Anil Agarwal, has unveiled its ambitious investment plan of USD 1.7 billion for the upcoming financial year. This substantial investment aims to expand the capacities of Vedanta’s diverse business operations.
HDFC AMC
In a strategic move, Abrdn Investment Management, formerly known as Standard Life, has announced its intention to sell 2.18 crore shares, representing a 10.2% stake, in HDFC Asset Management Company (HDFC AMC) through a block deal scheduled for June 20.
Aircraft
In a remarkable turnaround for the global aviation industry, which was once on the verge of collapse, there is now an atmosphere of immense optimism. After experiencing significant fleet groundings and staggering losses, airlines are now witnessing enormous profits, leading to a fierce competition of record-breaking orders.
IIFL Securities
MUMBAI – In a significant move, the Securities and Exchange Board of India (SEBI) has sanctioned a two-year ban on IIFL Securities, prohibiting them from accepting new clients due to violations of stock broker code of conduct regulations.
Adani Transmission
Adani Transmission has obtained the consent of its shareholders to raise ₹8,500 crore through the issuance of equity shares via a qualified institutional placement, as reported by PTI on Monday. The company revealed that 98.64% of shareholders voted in favor of the resolution, granting permission to raise the funds. The capital raised will be allocated towards the company’s growth and expansion plans.
Max Life Insurance
In a major development, Capital Small Finance Bank has successfully secured an equity investment of over INR 49.5 crore from Max Life Insurance Company Ltd. As part of this investment, Max Life Insurance has been allotted a total of 10,57,700 equity shares.
Envision Energy
Renewable energy solutions provider, Envision Energy, has recently been awarded a significant wind energy project from Serentica Renewables. In an official press statement, Envision confirmed the successful acquisition without disclosing the order’s specific value.
Bank of Baroda
Bank of Baroda (BoB) witnessed a surge in buying interest despite a sell-off in key benchmark indices. The stock price of Bank of Baroda opened on a positive note today, reaching an intraday high of ₹194.80 per share on the NSE during Monday morning deals. This marked an intraday gain of approximately 3.50 percent. In addition, the stock came close to its 52-week high of ₹197.20 per share, achieving a significant milestone by crossing the ₹1 lakh crore market capitalization mark. With this achievement, the Bank of Baroda becomes the second public sector bank to accomplish this feat, following the State Bank of India (SBI), which currently holds a market cap of around ₹5.07 lakh crore.
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