Shares of Tarsons Products are going to hit Indian bourses today. RIL's shares will likely be in focus today after the deal with Aramco was called off. Also, it will be interesting to see if Paytm parent One97 Communications' shares continue to rise
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Reliance: Reliance Industries Ltd (RIL) may hive off parts of its oils-to-chemicals division to make it easier to induct investors and unlock value after it scrapped a plan to sell a $15 billion stake in the business to Saudi Aramco, according to two officials aware of the development. As the first step of the new strategy, RIL decided to transfer the company’s gasification assets to a wholly owned subsidiary on Thursday.
HUL/ITC: India’s top fast-moving consumer goods makers Hindustan Unilever Ltd., (HUL) and ITC Ltd., have taken price hikes on select variants of soaps and detergents citing higher input costs. HUL has increased the price of Wheel detergent powder by 3.4% on its 1 kg pack, CNBC TV 18 reported on November 25. This would result in a hike of ₹2, the news channel reported citing sources. A price hike has been initiated on a 500-gram pack of Wheel. It has also increased prices on packs of Rin detergent bar and Lux soaps. ITC has raised price of Fiama Di Wills and Vivel soaps between 10-15%.
Latent View: The blockbuster initial public offering of data analytics company, Latent View Analytics Ltd has made its promoter Adugudi Viswanathan Venkatraman a billionaire. Adugudi Viswanathan Venkatraman, Chairperson and Executive Director of the firm has now held 117.91 crore shares or 69.62% stake in the firm. According to today's closing price of ₹702.35 a share on BSE his stake is worth ₹8275.88 crore or $1.11 billion. Venkatraman sold around 30 lakh shares in the offer for sale. The firm raised ₹600 crore in IPO.
ITC: Diversified entity ITC on Thursday confirmed that it is developing a nasal spray for COVID-19 prevention for which it has initiated clinical trials. Developed by scientists at ITC Life Sciences and Technology Centre (LSTC), Bengaluru, the company plans to market the nasal spray under the Savlon brand once it gets all the requisite regulatory approvals, according to sources.
IOC: The government has received ₹2,424 crore as dividend tranche from Indian Oil Corporation (IOC), DIPAM Secretary Tuhin Kanta Pandey said on Thursday. During the current financial year 2021-22 (April-March) so far ₹20,222.40 crore has been received as dividend from central public sector enterprises.
Yes Bank: Yes Bank has today announced its collaboration with Amazon Pay and Amazon Web Services (AWS), to offer customers an instant real-time payment system via a UPI transaction facility. UPI facilitates inter-bank peer-to-peer and person-to-merchant transactions through Yes Bank’s digital payments platform and expands Yes Bank’s digital banking offerings.
GAIL: India's natural gas consumption is projected to rise to as much as 550 million standard cubic meters per day by the end of the decade from about 174 mmscmd now as the user base expands with the inclusion of newer industries such as steel, GAIL (India) marketing director E S Ranganathan said on Thursday. Speaking at the ETEnergyworld Gas Conclave virtual event, he said the revolutionary move to commit to a net-zero carbon emission by 2070 has strongly showcased the Indian economy's reorientation towards a cleaner and lower emission economy.
JSW Energy: Sajjan Jindal’s JSW Energy Ltd on Thursday said its board has approved the reorganisation of the company’s renewable and thermal businesses. All existing and upcoming renewable energy businesses will be housed under JSW Energy Neo Ltd, a wholly-owned subsidiary of the company, it said in a statement. This is in line with the announcement made by the company on 30 July that the board had approved the evaluation of re-organisation of these businesses, it added.
Piramal: Piramal Capital and Housing Finance Ltd (PCHFL), the wholly-owned subsidiary of Piramal Enterprises Ltd, on Thursday announced a strategic partnership with API Holdings Ltd through its digital platform Retailio. Under this partnership, PCHFL Finance has earmarked an initial amount of ₹100 crore for disbursement by March 2022, which will get upsized basis initial market response, it said in a statement. Further, PCHFL will provide solutions like buy now pay later (BNPL) for consumers and merchants, multi-collateral loans for retailers, supply chain financing, hospital financing, invoice discounting, among others.
Future Group: The feud between Amazon.com Inc. and Future Group over the sale of the group’s assets to Reliance Industries Ltd escalated with the US retailer claiming that some audit committee members of Future Retail Ltd (FRL) had demanded a forensic audit to probe alleged funds diversion through undisclosed related-party transactions.
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