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India’s biggest gold jeweler is emerging stronger from the coronavirus pandemic. Shares are heading for the best quarter in nearly three years as investors bet on a recovery in demand ahead of the key festive season and as an economic slump weakens its competitors. Titan Co. has jumped nearly 23% in the quarter ending Sept. 30, the most since the three months ended December 2017. That compares with a near 9% increase in the benchmark Read More

Anil Agarwal-led Vedanta Limited has received in-principle approval from the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) to delist shares from the exchanges. In an exchange filing today the metal and mining major said that Vedanta Resources Limited and its wholly owned step down subsidiaries namely, Vedanta Holdings Mauritius Limited, and Vedanta Holdings Mauritius II Limited will acquire the fully paid-up equity shares of the company. With this the company has initiated Read More

Shares of Lakshmi Vilas Bank started trading 5% lower on Monday morning as investors reacted to the ousting of the bank’s current management by the shareholders. Stocks were trading at Rs 18.10 per share, down from Rs 19.20 apiece. On Friday, Lakshmi Vilas Bank held its 93rd Annual General Meeting (AGM) where it sought shareholders approval for the re-appointment of seven of the bank’s directors, which were not approved by the shareholders. This included the Read More

GMR Infrastructure share price surges 9 per cent to Rs 23.10 apiece on BSE in Friday’s session after the company announced divestment of the group’s entire stake in Kakinada SEZ Limited (KSEZ) to Aurobindo Realty and Infrastructure Private Limited. The company in its press release informed that GMR SEZ and Port Holding Limited, a subsidiary of GMR Infra, is selling the 51 per cent equity. As part of the proposed KSEZ stake transfer, the 100 Read More

Following the stake sale in Jio Platforms, Mukesh Ambani’s RIL has shifted its focus to Reliance Retail. Sanford C Bernstein has maintained an outperform rating on Reliance Industries Ltd shares and raised its target price to Rs 2,470, translating to over 12 per cent upside from current levels. The research and brokerage firm expects a break-up of the company in the next 3-4 years through an initial public offering (IPO) of the Jio and Retail Read More