MUMBAI: Platinum Jasmine A 2018 Trust, an investment arm of Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, is selling up to 4 crore shares of Lenskart Solutions, translating to about 2.3% of the company, at a floor price of Rs 486 per share. At the offer price, the ADIA…
MUMBAI: Zee Entertainment Enterprises is seeking to raise Rs 2,300 crore for strategic and business initiatives, nearly a year after shareholders blocked a similar attempt by the broadcaster’s promoter group to increase its stake.The company said its board would deliberate further on funding options, without specifying the instrument or timeline. The move comes as Zee…
MUMBAI: Tata Consumer Products, which began as a tea joint venture with British firm Finlay, has crossed Rs 20,000 crore in annual revenues, marking what chairman N Chandrasekaran called the completion of its transformation into a multi-category consumer goods group.The company has built its newer “growth” businesses —packaged foods, pantry staples and ready-to-drink beverages —…
NEW DELHI: Government plans to raise the issue of the US decision to impose a 100% duty on patented drug imports from India, seeking tariff parity to safeguard the interests of domestic manufacturers. The matter is expected to figure during the trade negotiations with Washington, with New Delhi seeking tariff concessions in line with the…
MUMBAI: After months of resilience, there are early signs of investing fatigue among retail mutual fund investors. In May, as the stock market showed extreme volatility—thanks to the war in West Asia—net inflows into equity funds fell to the lowest level in more than a year at, Rs 22,908 crore. On a month-on-month basis, this…
BENGALURU: Rajesh Exports chairman Rajesh Mehta, who is under Sebi’s scanner over allegations that the company inflated its revenues by Rs 15.2 lakh crore between FY21 and FY25, said he does not intend to challenge the regulator’s interim order and is fully cooperating with the investigation.At 4.2%, US inflation logs biggest gain in 3 yearsAt…
Equity mutual funds saw a sharp slowdown in inflows in May, falling to their lowest level in a year as geopolitical tensions in West Asia, rising crude oil prices and market volatility weighed on investor sentiment, according to data released by the Association of Mutual Funds in India (AMFI).Net inflows into equity schemes stood at…
For a retail investor, the impact depends on what they own and why the rupee is weakening in the first place. The rupee is falling and your investment portfolio is bleeding red. India may be a fundamentally strong growth story, but for now your investments may be flashing negative returns. As the impact of the…
The Union cabinet on Tuesday approved Phase 2A of the Ahmedabad Metro Rail Project, a 6.032-km corridor connecting Koteshwar Road to Ahmedabad Airport.The project, approved by the Cabinet chaired by Prime Minister Narendra Modi, will be built at a total cost of Rs 2,169.04 crore, including interest during construction (IDC).The new corridor will have five…
Benchmark equity indices gave up most of their intraday gains on Wednesday, with the Sensex ending marginally higher and the Nifty closing in the red as renewed hostilities between the United States and Iran dampened investor sentiment.The 30-share BSE Sensex rose 64.42 points, or 0.09%, to settle at 73,983.18.The index had surged as much as…