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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

RIL share price jumped 3 per cent to Rs 2,275.50 apiece on BSE after the company announced a Rs 5,550 crore investment from KKR into its retail business. In the early morning on Wednesday, Mukesh Ambani-controlled Reliance Industries Ltd, in a press release, informed that global investment firm KKR will invest Rs 5,550 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries. In a span of less than one month, RIL has Read More

TCS share price hit a fresh 52-week high of Rs 2,544.45 apiece, up 3.63 per cent in an otherwise weak market on Tuesday. The IT giant, in a press release, announced that it has expanded its partnership with a leading supermarket chain in the UK, Morrisons, through a five-year contract for application management services, data services and cybersecurity services. Tata Consultancy Services stock surpassed its previous high of Rs 2,538 apiece on September 15, 2020. Read More