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From bankruptcy to becoming a stock which has given investors 822% returns in the past few months, the story of Alok Industries has one name associated with it which has changed the fortunes of the firm on the stock exchanges. The name is Mukesh Ambani. Alok Industries, once a bankrupt textile manufacturer based out of Mumbai, was taken over by Mukesh Ambani’s Reliance Industries along with JM Financial Asset Reconstruction company earlier this year. Post Read More

India Cements share price surged 10.5% on Wednesday morning amidst media reports of ace investors Radhakishan Damani considering a takeover of the south-India based cement manufacturer. India Cements shares opened at Rs 134 per share only to surge higher to Rs 139.30 apiece, a jump of 10.5% from its previous close of Rs 126. Radhakishan Damani has informally approached India Cement’s controlling shareholder N. Srinivasan, for exploring the possibility of a takeover, Bloomberg News reported. Read More

India’s central bank may adopt its own version of yield-curve control as it digs deeper into its toolbox to cushion the economy during the coronavirus pandemic, according to a unit of the country’s second-largest private lender. The Reserve Bank of India may buy debt at irregular intervals to tame spikes in yields as it seeks to accelerate transmission of cuts in policy rates, breaking from the hard yield-control policies followed by the Bank of Japan Read More

Shares were mostly lower in Asia on Monday on concern over a resurgence of coronavirus cases and pessimism after Wall Street posted its worst week in nearly three months. Benchmarks in Tokyo, Sydney and Shanghai fell after China reported an outbreak of new infections in Beijing and reimposed precautions to prevent it from spreading. Stocks are turning wobbly as investors re-evaluate their expectations for economic growth, which many skeptics have been saying were overly optimistic. Read More

Reliance Industries’ shares offered in the just-concluded rights issue will be listed on stock exchanges on Monday, concluding the issue in just 42 days. “Effective from Monday, June 15, 2020, the new securities of Reliance Industries Ltd (Scrip Code: 890147) shall be listed and permitted to trade on the Exchange in the list of ‘A’ Group of Securities,” BSE said. RIL completed the allotment of partly paid-up shares to the demat accounts of its shareholders Read More