
Hero MotoCorp to invest ₹550 cr in Ather Energy
Prior to the proposed investment, Hero MotoCorp's shareholding in Ather stood at 33.1%.
Prior to the proposed investment, Hero MotoCorp's shareholding in Ather stood at 33.1%.
Shares of Mahindra & Mahindra dropped as much as 7% on Thursday.
Shares of RVNL, the infrastructure arm of the Ministry of Railways, fell 5% in opening trade to ₹126 on the NSE.
India's biggest steel maker is in negotiations with Chinese carmakers to acquire a stake, as the latter finds it difficult to raise fresh funds amid increased scrutiny of fund inflows from Beijing
The total purchase value of equity, purchased over the last many years, under all the Adani group companies is ₹30,127 crore, says LIC.
VLCC founders will continue to hold a significant stake in the company.
The market regulator has also directed the new buyer to comply with minimum public shareholding norms within one year of the sale.
Shares of the company jumped more than 13% in the intraday trade on Wednesday expecting a positive response from the government.
The banks want the government to come in as the largest stakeholder to release ₹20,000 crore loan to VIL.
Government as well as LIC will sell a little over 30% stake each in the bank along with the transfer of management control.