Vedanta Resources Ltd, the promoter entity of billionaire Anil Agarwal’s Vedanta Ltd has bought 185 million shares or a 4.98% stake in the company for ₹2,959 crore from the company’s institutional shareholders.
NEW DELHI :
Here’s a list of top ten stocks that may be in news on Monday:
DHFL: US-based Oaktree has pipped Piramal Enterprises and Adani Group to emerge as the highest bidder for DHFL after fresh bids were invited under the insolvency process. Piramal raised its total offer for DHFL to ₹38,250 crore on 24 December, improving on Oaktree’s commitment of ₹36,400 crore, and emerging as the top bidder based on evaluation metrics.
Vedanta: London-based Vedanta Resources Ltd (VRL) has raised its stake in its India listed unit, Vedanta to 55.11% by buying shares worth ₹2,959 crore from open market. VRL bought 18.5 crore shares at a price of ₹159.94 apiece.
RIL: Billionaire Mukesh Ambani's Reliance Industries Ltd (RIL) has agreed to buy out IMG Worldwide LLC from their sports management joint venture for ₹52.08 crore. IMG is a global leader in sports, fashion, events and media, operating in more than 30 countries, and is a part of the Endeavor network.
Bharat Forge: The company has made an additional investment of ₹2.87 crore to use the remaining 8.20 megawatts (MW) solar power from Avaada SataraMH Pvt Ltd (ASPL). Bharat Forge has agreed to use a total of 40.70 MW solar power from ASPL. As part of this, it earlier invested about ₹11.37 crore in ASPL to use 32.50 megawatts.
Dish TV: Direct-to-home operator Dish TV has received a demand notice from the government for payment of ₹4,164.05 crore, which includes license fee and interest.
NIIT: The company’s board has approved an up to ₹237-crore buyback proposal at ₹240 per equity share. "...the Board of Directors of the company at its meeting held on December 24, 2020, has inter-alia approved a proposal for buyback of up to 9,875,000 fully paid-up equity shares of the company...for an aggregate amount not exceeding ₹2,370,000,000," NIIT said in a regulatory filing.
Asian Granito: Ceramic products maker Asian Granito India is looking to further consolidate its exports in the current fiscal on account of robust business orders from the US, Europe and the Middle East. The company is also expanding its business network in over 120 countries from 100 currently, it said in a statement.
DLF: Realty major DLF's rental arm DCCDL has agreed to acquire the entire 52% stake of US-based Hines in a premium commercial project in Gurugram for ₹780 crore.
Aavas Financiers: The board of directors of the company has approved raising ₹100 crore by issuing bonds on a private placement basis. The Executive Committee of the board at its meeting held on Friday approved the issuance of rated, listed, senior, secured, redeemable, non-convertible debentures aggregating to ₹100 crore, the company said in a regulatory filing.
Coal India: State-owned Coal India’s board has given in-principle approval for venturing into aluminium and solar sectors and creation of special purpose vehicles (SPVs).