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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

Indian share markets are expected to see a ‘sharp correction’ soon, as profit booking continues in the coming weeks, Credit Suisse said. “We believe the equity market could see some further profit booking in coming weeks, but we expect this correction to be very sharp and to not last long,” Jitendra Gohil, Head of India Equity Research, and Premal Kamdar, Equity Research Analyst, Credit Suisse, said in a note. Sensex has turned negative year to Read More

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel were unchanged today for the fourth day running. Fuel prices were cut on April 15 after having remained unchanged for fifteen consecutive days earlier. Today Petrol price in Delhi is Rs 90.40 per litre, 16 paise cheaper than yesterday, while Diesel prices were at Rs 80.73 per litre, down 14 paise. Fuel prices remain the highest in Mumbai at Read More