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LIC has increased its stake in non-banking finance company Capri Global Capital, to over 7 per cent from 5 per cent earlier, during the February-June period with an investment of over Rs 221 crore, the state-owned insurer said on Tuesday. LIC’s shareholding in Capri Global Capital has increased from 88,58,348 equity shares to 1,24,00,000 equity shares or from 5.043 per cent to 7.059 per cent of the paid-up capital of the latter, Life Insurance Corporation Read More

The shareholders of controversy-ridden Dhanlaxmi Bank on Sunday raised queries on the lender’s plan to raise Rs 130 crore via a rights issue in its extraordinary general meeting (EGM). Questions were also asked about the management’s strategy to boost growth of the Kerala-based bank. “The registered speaker shareholders raised queries relating to the bank on various topics including strategies considered by the bank for the bank’s growth as well as maximizing shareholder value, proposed rights Read More

The Securities Appellate Tribunal (SAT) has directed businessman Malvinder Mohan Singh and Malav Holdings to deposit 50 per cent of the penalty amount imposed by markets regulator Sebi within six weeks in connection with violations in a case related to Fortis Healthcare. If they deposit the amount, then the market regulator will not collect the remaining penalty during the pendency of the appeal, the appellate tribunal said in its order. The amount deposited by the Read More

Benchmark indices held minor cuts in Monday’s session, tracking weakness in global markets as investors feared steeper rate hikes by the US Fed. Besides, the RBI, too, is scheduled to announce its rate hike decision on Wednesday. The BSE Sensex was down over 250 points to 55,505, and the NSE Nifty 50 slipped 60 points to 16,520. The broader markets were also in the red with the BSE MidCap and SmallCap indices down up to Read More

Oil prices fell on Thursday on speculation that Saudi Arabia and other OPEC members may boost crude output to compensate for a drop in Russian production. Brent crude was down $2.07, or 1.8%, at $114.22 a barrel at 0649 GMT, having risen 0.6% the previous day. U.S. West Texas Intermediate (WTI) crude dropped $2.21, or 1.9%, to $113.05 a barrel, after a 0.5% rise on Wednesday. The benchmarks have marched higher for several weeks as Read More