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Kotak Mahindra Bank on Tuesday said it will sell 20 crore shares held in Airtel Payments Bank (APBL) for a cash consideration of Rs 294 crore or more to Bharti Enterprises Ltd. A share purchase agreement has been executed by the bank for divestment of 20,00,00,000 equity shares (8.57 per cent stake) held by Kotak Mahindra Bank Ltd in APBL. These shares were acquired for Rs 200 crore invested in tranches during calendar years 2016 Read More

BSE Sensex and Nifty scaled fresh record closing highs on Monday, making the investors richer by Rs 4 lakh crore. The total market capitalisation of BSE-listed companies rose to Rs 247 lakh crore from Rs 243 lakh crore on Friday. The 30-share Sensex surged 765 points or 1.36 per cent to 56,889.76, and Nifty 50 closed the day at 16,931, rising 1.35 per cent or 226 points. Index heavyweights such as Reliance Industries Ltd (RIL), Read More

Ami Organics Rs 569.63-crore IPO will open for subscription on 1 September 2021, at a price of Rs 603-610 per equity share of face value of Rs 10 each. So far this year, Ami Organics IPO is the 40th issue. Despite filing the preliminary papers with SEBI, the company could not float the IPO in 2018. This is the company’s second attempt at a public issue. In the primary market, Ami Organics shares were seen Read More

Oil marketing companies (OMCs) have started cutting petrol and diesel prices as global crude oil rates softened. So far this month, petrol prices have been cut twice while diesel rates have been slashed on five instances. Last month, petrol prices were increased on nine occasions, while diesel rates were hiked 5 times. In June and May, fuel prices were raised 16 times each month. In the past month, the cumulative cut in petrol and diesel Read More

A case has been registered against Karvy Stock Broking Ltd promoter C. Parthasarathy and others for allegedly cheating ICICI Bank to the tune of Rs 563 crore. According to a press release issued by the police on Tuesday night, the case was booked under Sections 406 (criminal breach of trust), 420, r/w 34 ( cheating) of IPC against the accused. Funds raised by KSBL by pledging shares of its six bankers were transferred to the Read More