Bikaji Foods International, has announced that, Bikaji Foods Retail Ltd, its wholly owned subsidiary, will make a strategic investment of Rs 131.01 crorefor an acquisition of 53.02% stake in Hazelnut Factory Food Products Private Limited (“The Hazelnut Factory, a Café cum Artisanal sweets brand based in Lucknow. This investment will be done in tranches and is expected to be completed in next 2 years. Through this acquisition, Bikaji aims to set up a House of Brands to cater to unique customer tastes and preferences and establish Bikaji as a key player in the Quick Service Restaurant (QSR) domain.
Investment banking firm Morgan Stanley on Wednesday bought shares of Titagarh Rail Systems for over Rs 85 crore through an open market transaction. New York-headquartered Morgan Stanley, through its affiliate Morgan Stanley Asia Singapore, purchased 7,63,738 shares or 0.57 per cent stake in Kolkata-based Titagarh Rail Systems, as per the bulk deal data available on the NSE. The shares were acquired at an average price of Rs 1,120, taking the transaction value to Rs 85.54 crore. Investment banking firm Morgan Stanley on Wednesday bought shares of Titagarh Rail Systems for over Rs 85 crore through an open market transaction. Meanwhile, through its arm SmallCap World Fund Inc, Capital group sold more than 7.90 lakh shares of mobility solution provider Titagarh Rail Systems.
The government’s 5 per cent share sale in Cochin Shipyard received bids worth over Rs 1,900 crore from institutional investors on Wednesday. Institutional investors over-subscribed the portion of shares reserved for them. As against 59.19 lakh shares offered, institutional buyers on Wednesday bid for 1.28 crore shares at an indicative price of Rs 1,550.13 apiece. In the two-day OFS, the government is divesting 2.5 per cent equity or 65.77 lakh shares with an option to sell an additional 2.5 per cent at a floor price of Rs 1,540 a share. The government has decided to exercise the green shoe option.
Reliance Industries has set October 28, 2024, as the record date for its upcoming bonus issue of shares. The company had announced this ahead of its Annual General Meeting on September 5, 2024. Shareholders will receive bonus shares in a 1:1 ratio. The proposal was approved by its shareholders.
The board of Oberoi Realty has approved the issuance of non-convertible debentures (NCDs) amounting to Rs 1,500 crore on a private placement basis.
RVNL has emerged as the lowest bidder (L1) for a contract awarded by Maharashtra Metro Rail Corporation Ltd. The project, valued at around Rs 270 crore (including GST), involves the construction of ten elevated metro stations as part of Phase 2 of the Nagpur Metro Rail Project (NMRP).
Sintex-BAPL, subsidiary of Welspun Corp, has successfully completed the acquisition of a 100% stake in Weetek Plastic from its current shareholders. The Raipur-based Weetek Plastic specialises in manufacturing plastic pipes, fittings, and water storage tanks, with a combined production capacity of 19 KMPTA.
Results calendar: Infosys, Wipro (bonus as well), Axis Bank, Nestle India, LTIMindtree, Tata Chemicals, Tata Communications, Ceat, Havells India, Jindal Stainless, Central Bank of India, Indian Overseas Bank, 5paisa Capital, Geojit Financial Services, Deccan Bearings, Dhanlaxmi Bank, Harshil Agrotech, Mahindra EPC Irrigation, National Standard, Polycab India, Quick Heal Technologies, Shemaroo Entertainment, Steel Exchange India, SW Investments, and Tanla Platforms.