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India’s gold demand recovered during the January-March period to witness a growth of 37 per cent at 140 tonne compared to the same quarter of 2020, due to ease of COVID-related restrictions, pent up demand and softening of prices of the yellow metal, according to the World Gold Council (WGC). The overall gold demand stood at 102 tonne during the first quarter of 2020, as per WGC data. Gold demand in value terms increased by Read More

Online food delivery platform Zomato is looking to raise a massive Rs 8,250 crore through its much-awaited initial public offering (IPO). In its DRHP, filed with the capital markets regulator Securities and Exchange Board of India (SEBI) today, Zomato said its IPO will be an amalgamation of fresh issue of equity shares and an Offer For Sale (OFS) by existing shareholder Info Edge Ltd — the parent firm of Naukri.com. With this, Zomato has begun Read More

Jindal Power and Steel (JSPL) on Tuesday said its board has approved divesting its entire equity interest in Jindal Power to Worldone, a promoter group company, for Rs 3,015 crore. The board of directors of JSPL has approved the divestment of its entire equity interest (representing 96.42 per cent of the issued and paid up capital) in Jindal Power by way of sale of shares, to Worldone Pvt Ltd, a promoter group company and a Read More

Blackstone on Monday announced that private equity funds managed by Blackstone have entered into definitive agreements to acquire a majority stake in Bengaluru-headquartered IT services company Mphasis Limited. A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), UC Investments and other long-term investors will co-invest along with Blackstone, a joint statement said. This transaction will trigger a mandatory open offer for the purchase of up to 26 per cent additional shares of the Read More

Wipro share price hit Rs 486.70 apiece on BSE today, taking the company’s total market capitalisation to Rs 2.65 lakh crore. IT major Wipro has pipped HCL Technologies in terms of market capitalisation and has become the third most valued Indian IT firm. Wipro stood at 12th position in the overall ranking with a market capitalisation of Rs 2.66 lakh crore, as on April 22, according to BSE data. HCL Technologies was at the 13th Read More