NDTV | Business Upturn

Fresh twist in Tamil Nadu politics: Vijay falls short of majority mark, Governor yet to invite him to form government

Rashmi Pandey — Fri, 08 May 2026 15:37:59 +0000

Political uncertainty intensified in Tamil Nadu on Friday after sources from the Governor’s Office indicated that actor-turned-politician Vijay has not yet demonstrated majority support required to form the next government in the state.

According to sources, Vijay’s party, Tamilaga Vettri Kazhagam (TVK), currently has the backing of 116 MLAs, two short of the crucial majority mark of 118 in the Tamil Nadu Assembly.

Sources further said the Governor’s Office has not received formal letters of support from key allies including the Viduthalai Chiruthaigal Katchi (VCK) and the Indian Union Muslim League (IUML).

As a result, Vijay has not yet been invited to take oath as chief minister, despite intense political speculation surrounding a possible swearing-in ceremony in Chennai.

The latest development marks a setback for TVK’s efforts to stake claim to power after emerging as the single largest party in the recently concluded assembly elections. Party leaders have been engaged in discussions with smaller parties and independent legislators in an attempt to secure the numbers required for government formation.

Officials familiar with the matter said Raj Bhavan is seeking documentary proof of majority support before extending any formal invitation to form the government.

The political situation remains fluid as rival parties continue consultations over possible alliance arrangements and support strategies. Reports of ongoing negotiations and shifting political equations have added to uncertainty over who will ultimately form the government in the state.

TVK supporters gathered near key government locations in Chennai during the day, demanding that Vijay be invited to form the government. Security arrangements were tightened in parts of the city amid the evolving developments.

There was no immediate official statement from either TVK leadership or Raj Bhavan beyond the information shared by sources. Political observers expect further developments as parties continue efforts to consolidate support.

The Tamil Nadu Assembly requires the support of 118 MLAs for a majority in the 234-member House.

NDTV gets relief as tax authority drops proceedings: Report

Aman Shukla — Fri, 19 Sep 2025 11:15:27 +0000

In a significant development, NDTV, owned by billionaire Gautam Adani, has received major relief as the tax authorities have reportedly dropped the proceedings initiated against the media company.

NDTV: TAX AUTHORITY DROPPED PROCEEDINGS INITATED AGAINST CO

— RedboxGlobal India (@REDBOXINDIA) September 19, 2025

In a separate but equally high-profile update, the Securities and Exchange Board of India (SEBI) issued its final order regarding the allegations made by Hindenburg Research against the Adani Group. The allegations involved loan transactions routed through Milestone Tradelinks Pvt. Ltd. and Rehvar Infrastructure Pvt. Ltd., raising concerns about potential undisclosed related party transactions between Adani Ports and SEZ Ltd., Adani Power Ltd., and Adani Enterprises Ltd. for the financial years 2018–19 to 2022–23.

After a detailed investigation, SEBI concluded that these transactions do not qualify as related party dealings under the Listing Obligations and Disclosure Requirements (LODR) Regulations applicable during the period in question. The regulator highlighted that while large sums were lent and repaid, all loans along with interest were fully settled before March 31, 2023, with no evidence of fund diversion or investor harm. SEBI also clarified that the 2021 amendment expanding the definition of related party transactions was prospective, effective only from April 2022, and could not be applied retroactively.

Additionally, SEBI dismissed allegations of fraudulent or unfair trade practices, citing lack of evidence for price manipulation, siphoning of funds, or inducement of investors. The final order effectively clears Adani Ports, Adani Power, Adani Enterprises, promoters Gautam Adani and Rajesh Adani, CFO Jugeshinder Singh, and the two private entities involved. No penalties or directions were imposed.

The Hindenburg report of January 2023 had raised questions about the flow of funds within the Adani Group, triggering both SEBI’s investigation and monitoring by the Supreme Court of India. With the regulator now closing the matter, the Adani Group has received a major regulatory vindication, which is expected to positively influence investor sentiment.

NDTV’s Q4 net profit falls by 97% to Rs. 59 Lakh

Sakshi Vats — Mon, 01 May 2023 16:57:35 +0000

A 97.5% reduction in net profit (attributable to owners) was recorded by the media organisation New Delhi Television Ltd. (NDTV) on Monday, coming in at Rs. 59 lakhs for the three months that ended in March 2023. Comparatively, the equivalent quarter of the previous fiscal year saw a combined net profit of Rs. 24.16 crore.

Comparing the current quarter to the same period last year, its consolidated revenue from operations decreased by 35.5% to Rs. 66.96 crore.

From Rs. 9 crores last year, Taboola NDTV’s foreign borrowings have dropped to Rs. 3 crores in the current quarter.

For the quarter that ended in March 2023, cash and cash equivalents were worth Rs. 103.6 crores, down from Rs. 116.4 crores the year before.

The company stated in its filing that, “The one-time expenses on account of severance pay and one-time write-off provisions have impacted the EBITDA margins by ₹4.80 crores.”

AMG Media Networks Ltd. (AMNL), through its indirect business RRPR Holding Private Limited, bought a 27.26% share in NDTV on December 30, 2022. This gave AMNL, through its subsidiaries, a controlling interest of 64.71% in NDTV.

Gautam Adani, Founder and Chairman of the Adani Group had stated,“The Adani Group is privileged to further bolster NDTV with world-class infrastructure and talent and transform NDTV into a thriving multi-platform global news organization.”

Mr. Sanjay Pugalia, CEO, AMG Media Networks Ltd. stated that,“One of the first things we plan to do is to strengthen and invest in the NDTV newsroom to be a multi-faceted multi-media digital platform. To grow NDTV’s digital reach via greater global content, new formats, personalization and interactivity with viewers would require more reporters, producers and editors supported by strong research tools. We will deliver news that really adds value to the lives of Indian citizens and those interested in India.”

The company’s stock ended at 189 on the BSE, up 3.99%.

Here’s why Twitter locked out Indian news agencies ANI & NDTV’s twitter handles

Sakshi Vats — Sat, 29 Apr 2023 14:44:29 +0000

Twitter, controlled by Elon Musk, has disabled the accounts of multiple organisations for breaking the site’s “age standards.” On Saturday, the social media accounts of at least two widely recognised news organizations—Asian News International (ANI) and New Delhi Television (NDTV)—were disabled.

According to the notice by twitter, “In order to create a Twitter account you must be at least 13 years old. Twitter has determined that you dont meet these age requiremen., so your account has been locked and will be removed from Twitter.”

Smita Prakash, the editor of ANI, posted a tweet on Twitter saying,”So those who follow @ANI bad news, @Twitter has locked out India’s largest news agency which has 7.6 million followers and sent this mail – under 13 years of age! Our gold tick was taken away, substituted with blue tick and now locked out. @elonmusk.”

So those who follow @ANI bad news, @Twitter has locked out India’s largest news agency which has 7.6 million followers and sent this mail – under 13 years of age! Our gold tick was taken away, substituted with blue tick and now locked out. @elonmusk pic.twitter.com/sm8e765zr4

— Smita Prakash (@smitaprakash) April 29, 2023

The blue tick (verified tick) for the news organisation was consequently deleted, and the page now displays “account does not exist.”

Since Twitter CEO Elon Musk’s ways to verify across the social media platform changed with the introduction of Twitter Blue services, ANI has approximately 7.6 million followers on its handle and was previously recognised on Twitter as an official organisation, carrying the golden tick.

The other handle for ANI, ani_digital, is still in use.

Editor Smita Prakash later tweeted that the organisation would be tweeting all news from its other verified handles, @ani_digital and @AHindinews, until Twitter reinstated the main ANI handle.

A few hours later, NDTV’s Twitter account was likewise locked and the same message stating that the “account does not exist” was displayed there.

According to Twitter’s terms of service, users must be 13 or older to open an account.

“You must be at least 13 years old, or in the case of Periscope 16 years old, to use the Services. If you are accepting these Terms and using the Services on behalf of a company, organization, government, or other legal entity, you represent and warrant that you are authorized to do so and have the authority to bind such entity to these Terms, in which case the words “you” and “your” as used in these Terms shall refer to such entity,” the social media’s policy states.

However, Twitter notes that some data will be permanently deleted after the account is restored:

● Tweets sent before the user turned 13.

●Likes the user made before turning 13.

●Direct messages sent and received before to the age of 13.

●All profile information other than your handle, birthday, who you follow, and who follows you will be deleted.

● User-saved Moments, Lists, and Collections.

Since Elon Musk, a billionaire, took control of Twitter, significant changes have been made. As Musk experiments with features, a number of issues have surfaced, with the most recent being the authenticity blue check mark.

Roys step-down as directors of NDTV

News Desk — Sat, 31 Dec 2022 03:07:22 +0000

The founders of NDTV resigned after the world’s richest man Gautam Adani claimed majority control. Gautam Adani now holds more than 64% stake in NDTV.

Four other independent directors also resigned along with the NDTV founder on Friday. However, the Roys would continue to hold a 2.5% stake each in NDTV, according to a statement.

Adani group reportedly has appointed Sudipta Bhattacharya and Sanjay Pugalia to the RRPR Holding Board. The Roys had announced the selling of an additional 27.26% equity to Adani on 23 December.

“The Adani Group is privileged to further bolster NDTV with world-class infrastructure and talent and transform NDTV into a thriving multi-platform Global news organization”, Adani said in a statement. Adani group would strengthen and invest in the NDTV newsroom to be a multi-faceted multi-media digital platform, the statement added.

Reportedly, the takeover of NDTV began with the acquisition of Vishvapradhan Commercial Private Limited, which had given Rs. 403 crores interest-free loan to RRPR Holding in 2009-10. The company had warranted purchasing a stake in NDTV anytime in lieu. Gautam Adani exercised the warrant in August this year purchasing a 29 per cent stake in the company.

Roys had earlier resigned from RRPR the previous, month but continued to remain on the board for NDTV. Gautam Adani has termed the takeover of the media body as a responsibility.

Earlier Gautam Adani had invited Mr Roy to remain the director of the company after claiming 29 stakes in the RRPR New Delhi Television (NDTV) was founded by Roys in the year 1998.

Stocks in focus: Tata Motors, NDTV, HPCL, Siemens India and more

Aryan Jakhar — Mon, 26 Dec 2022 02:48:37 +0000

Indian benchmark indices are expected to open in the green, according to the SGX Nifty on Monday. On the Singapore Exchange, Nifty futures were trading marginally higher at 17886. The BSE Sensex fell 981 points to 59,845, while the NSE Nifty 50 fell 321 points to 17,807.

Tata Motors: TML CV Mobility Solutions, a subsidiary of Tata Motors, has signed a contract with the Delhi Transport Corporation (DTC) to operate 1,500 electric buses in New Delhi. TML will supply, operate, and maintain 1,500 12-metre, low-floor, air-conditioned electric buses over a 12-year period.

NDTV: Gautam Adani will own 64.71% of NDTV after founders Prannoy Roy and Radhika Roy agreed to sell 27.26% of the company to the billionaire. Adani already owns more than 37% of NDTV through RRPR Holding and Vishvapradhan Commercial, as well as an open offer. Adani purchased RRPR Holding, a firm owned by the founders. Following this transaction, the founders will own 5% of NDTV.

Shriram Finance: Shriram Finance has declared a 150% interim dividend, or Rs 15 per equity share with a face value of Rs 10 each, fully paid up. The dividend for Fiscal Year 2022-23 has been declared. According to the regulatory filing, the record date for the payment of the interim dividend is January 4, 2023. The interim dividend will be paid to eligible shareholders on or after January 18, 2023.

Hindustan Petroleum Corporation (HPCL): The OMC is thinking about selling a portion of its equity stake in HPCL Shampooer Pvt Ltd. (HSEPL), a joint venture between HPCL and Shampooer Palliation. Sources in both HSEPL and Gujarat’s ports and transport department confirmed to FE that the PSE is considering selling up to 50% of its stake to suitable buyers.

Alkem Laboratories: Eight Roads Ventures India Healthcare IV LP and F-Prime Capital Partners Life Sciences Fund VI LP will acquire an 8% stake in Alkem subsidiary Enzene Biosciences for Rs 161.48 crore. The transaction is expected to be completed in January 2023. The funds will be used to expand capacity in India and the United States.

Siemens India: Siemens India has won a contract with the Indian Railways to manufacture and maintain electric freight locomotives. The contract is for 11 years and includes the production of 1200 high-horsepower electric locomotives as well as their maintenance for 35 years at the Dahod railway factory. The contract is expected to cost around Rs 26000 crores. Both parties are expected to sign the contract within the next 30 days.

SJVN: The company has expanded its footprint in wind energy by winning the full capacity of the 100 MW wind power project through an e-reverse auction at Rs 2.90 per unit on a build-own-and-operate basis.

Quess Corp.: Quess Corp. has announced that, due to the changing market conditions, the board of directors has decided to withdraw the proposal to merge Allsec Technologies with the company. The board of directors has appointed Kamal Pal Hoda as the company’s Group CFO, effective January 10, 2023, in place of N Ravi Vishwanath.

Adani Group’s VCPL acquired an 8.27% share in NDTV through an open offer

Aryan Jakhar — Tue, 20 Dec 2022 04:49:48 +0000

News broadcaster NDTV revealed on December 19 that Adani Group entity Vishvapradhan Commercial Private Limited (VCPL) had bought 8.27% of shares in the company in the recently closed open offer.

The open offer was triggered when VCPL acquired 99.5% of RRPR Holding Private Limited (RRPR). RRPR owns 29.18% of the TV news company’s stock.

Prannoy Roy currently owns 15.94% of the firm, while Radhika Roy owns 16.32%. The promoter/promoter group owns 69.71% of the company.

Following the purchase of VCPL by Adani Group in August, the conglomerate declared an open offer to buy an additional 26 percent stake in NDTV from its public shareholders.

In the case that the loan was not returned, RRPR gave warrants to VCPL, allowing it to convert the warrants into a 99.9% ownership stake in RRPR. As a result of the execution of warrants, VCPL now owns 99.5 percent of RRPR Holdings.

RRPR’s board of directors has been expanded to include Sudipta Bhattacharya, Senthil Sinniah Chengalvarayan, and Sanjay Pugalia.

On November 28, NDTV’s promoter group vehicle, RRPR Holding, informed exchanges that it had given shares to Vishvapradhan Commercial, accounting for 99.5% of its equity capital.

“The shares have been issued in consonance with the Conversion Notice dated August 23, 2022, following the expiry of the 2-year restraint imposed by the Securities & Exchange Board of India (SEBI) in the matter of dealing in securities, on November 26, 2022,” NDTV’s notice to the exchanges added.

Stocks to watch: NDTV, TCS, RIL, Apollo Hospitals, Asian Paints and more

Aryan Jakhar — Thu, 01 Dec 2022 03:31:30 +0000

Following the sharp increases in their international rivals, the major benchmark indices are set to open trade on a positive note. After the head of the US Federal Reserve said that smaller rate hikes may begin as early as December, US markets rose up to 4% overnight. Aside from that, India’s GDP figures of 6.3% were in line with those predicted by the RBI.

NDTV: The Adani Group, through its subsidiary Vishvapradhan Commercial Pvt. Ltd. (VCPL), could push for the nomination of its directors to the NDTV board of directors after acquiring control of RRPR Holdings, the NDTV promoter firm, which holds 29.18% of the broadcaster’s shares. The Adani Group has grown to be NDTV’s single largest shareholder, moving it one step closer to seizing control of the business, according to the founders of proxy advice firms, even if the open offer failed to pique investor enthusiasm for the second session in a row on Wednesday.

Tata Consultancy Services: Rail Delivery Group (RDG) has hired Tata Consultancy Services (TCS), a leading provider of IT services, to design, develop, implement, and run the UK’s rail data marketplace. Six years are the duration of the contract, with the possibility of an extension.

Asian Paints: Since the end of September, the stock of Asian Paints has traded flat to slightly higher after a 15% decline from its highs. The stock was under pressure as a result of margin concerns brought on by a rise in raw material prices, customer down-trading, and increased competition pressures. Raw material costs for paint manufacturers are anticipated to decrease, though, as crude oil prices have fallen to their lowest levels of the year.

Apollo Hospitals: On Wednesday, the company’s board of directors approved the issuance of Non-Convertible Debentures (NCDs) in the amount of Rs. 105 crore. The stated term will last 13 months.

Manali Petrochemicals: For GBP 21 million, the business purchased UK-based Penn Globe. The latter is a global leader in chemical products such lubricants, surface coatings, release agents, and silicone emulsions as well as foam control agents.

KPI Green Energy: At its meeting on November 30, 2022, the company’s board suggested issuing bonus shares in a 1:1 ratio.

Hatsun Agro Products: The board of the company will meet on December 3 to review and talk about the conditions of the proposed rights issuance of equity shares.

Ashok Leyland: As part of its ongoing investigation into the 2017 BS-IV vehicle scam, the Enforcement Directorate (ED) announced on Wednesday that it had attached properties worth Rs 22.10 crore belonging to businesses involved in a prevention of money laundering case and was also looking into Ashok Leyland’s possible involvement.

Reliance Industries (RIL): The business will now ask shareholders for permission to change its memorandum of association (MoA) to add two new subclauses relating to engineering, procurement, and construction (EPC) services after receiving board approval in October.

Sanghi Industries: The board of the business will meet on December 3 to discuss and assess potential funding options.

Stocks in F&O ban: BHEL, Delta Corp, Indiabulls Housing Finance, and PNB are the stocks that are subject to a F&O restriction on Thursday.

Senior journalist Ravish Kumar resigns from NDTV

Aryan Jakhar — Wed, 30 Nov 2022 15:22:09 +0000

A day after the channel’s creators and promoters Prannoy Roy and Radhika Roy resigned from their positions as directors on the board of RRPR Holding Private Limited, senior journalist Ravish Kumar left NDTV on Wednesday.

The resignation was effective immediately, the channel’s internal mail stated in an announcement.

Suparna Singh, president, NDTV Group said, “Few journalists have impacted people as much as Ravish. This reflects in the immense feedback about him; in the crowds he draws everywhere; in the prestigious awards and recognition he has received, within India and internationally; and in his daily reports, which champion the rights and needs of those who are under-served.”

According to Suparna, Ravish has been a crucial component of NDTV for many years. She continued, “We know he will be hugely successful as he embarks on a new beginning.”

The Ramon Magsaysay Award recipient Kumar formerly served as the host of several shows, including Prime Time, Des Ki Baat, Ravish ki Report, and Hum Log, the channel’s primary weekday programme. Additionally, he has twice received the Ramnath Goenka Excellence in Journalism Award.

The company announced in a regulatory filing on Tuesday that Prannoy Roy and his wife Radhika Roy had resigned from their positions as Directors on the board of RRPR Holding Private Limited. Sudipta Bhattacharya, Sanjay Pugalia, and Senthil Sinniah Chengalvarayan have been appointed as Directors on the board of RRPR Holding with immediate effect.

This action was taken after the Gautam Adani-led Adani Group, a conglomerate with numerous commercial ventures, announced on August 23 that it will launch an open bid in compliance with SEBI regulations to acquire an additional 26% of television station NDTV Ltd. The Adani Group launched their open offer on November 22 and it will be available until December 5, 2022.

Stocks to watch: NDTV, TCS, JK Cement, M&M, Kotak Mahindra Bank and more

Aryan Jakhar — Tue, 29 Nov 2022 02:09:14 +0000

The top 10 stocks that will be the subject of today’s attention are listed below:

L&T: L&T Energy Hydrocarbon, the hydrocarbon division of Larsen and Toubro Ltd., announced in a regulatory statement to the stock exchanges on Monday that it had received important contracts. Projects with a budget of ₹1,000,000,000 to ₹2,500,000 are considered “major” by the company. The EPC major claimed that British Gas Exploration and Production India, a member of the Shell Plc Group of companies, had awarded the company the nation’s first contract for the decommissioning of offshore facilities.

NDTV: New Delhi Television Ltd. (NDTV) reported on Monday that a unit of the Adani Group had received shares from a company backed by its founders, moving the billionaire Gautam Adani-led conglomerate one step closer to acquiring the media company. Adani will have control over a 29.18% interest in the company following the share transfer. Additionally, Adani is running an open offer for a 26% stake in NDTV from November 22 to December 5.

Tata Consultancy Services: For enterprise customers who wish to employ quantum computing and its applications to tackle challenging business issues, Tata Consultancy Services (TCS) has made its quantum computing lab accessible on Amazon Web Services (AWS). According to TCS, its AWS quantum computing lab will give businesses a virtual environment for research and development that is powered by Amazon Braket, an entirely managed quantum computing service provided by AWS. Businesses will be able to test quantum algorithms using Braket on virtual quantum computers operating on the AWS cloud infrastructure.

Mahindra and Mahindra: It’s been claimed that Mahindra has recalled the just-released Mahindra Scorpio-N and XUV700 SUVs. CarToq reports that the business has recalled the SUV due to a vendor quality control issue that may have impacted the “operational dimensional clearance” of the rubber bellow located inside the clutch bell housing. The purpose of the recall is to inspect and replace the rubber bellow.

HCL Tech: To digitally change its operations, the IT firm HCL Tech has entered into a multi-year agreement with the Swiss provider of maintenance, repair, and overhaul services, SR Technics. With over 500 customers globally, SR Technics collaborates with a network of partners and business development offices in Europe, the Americas, Asia, and the Middle East to provide complete, fully tailored MRO solutions for aviation engines, airframes, and components.

Kotak Bank: A division of Kotak Mahindra Bank intends to raise up to $1 billion in order to make investments in the data centre industry. According to an official release, Subhamkar Das has been appointed as the chief operational officer for the “Kotak Data Centre Funds platform” by Kotak Alternate Assets, a branch of Kotak Investment Advisors (KIAL). The fundraising ambitions were not mentioned in the announcement, but according to market sources, the private sector lender’s arm intends to raise between USD 500 and USD 1 billion for the fund, which will be invested in the data centre industry.

Lupin: Drugmaker Lupin announced on Monday that a subsidiary of Bausch Health Companies Inc. has agreed to sell nine products’ rights to its unit in Brazil. According to a statement from Lupin, MedQuimica Industria Farmaceutica, the company’s sole Brazilian subsidiary, has signed a binding contract to buy nine pharmaceutical products from BL Industria Otica Ltda. According to the company, as part of the deal, MedQuimica will gain the rights to a number of medications, including Limbitrol, Melleril, and Dalmadorm, for disorders affecting the central nervous system.

Dhanlaxmi Bank: The organisation has informed stock exchanges that the Bank’s Board of Directors has set Monday, December 5, 2022, as the date on which they will evaluate or approve the Bank’s request to raise money through the issuance of Non-Convertible Debentures (NCDs) in the form of Tier 2 Bonds that complies with Basel III and total Rs. 200 crores. The quarter that ended in September 2022 witnessed a YoY increase of 334% to Rs. 15.89 crore at Dhanlaxmi Bank, with a net profit of Rs. 3.66 crores.

NBCC India: The state-owned construction firm NBCC (India) Ltd. stated on Monday that the former real estate firm Amrapali Group has given it work orders for projects totaling Rs.271.62 crore. A regulatory filing by the business revealed that it has been given a Rs 42.44 crore contract to complete construction of the Amrapali corporate Hub at IMT Manesar in Gurugram, Haryana.

JK Cement: In central India, JK Cement Ltd. has started operating its 4 million tonnes per annum (mtpa) grey cement grinding facilities. The company’s capacity for grey cement now stands at 18.7 mtpa. Consistent capacity expansion is encouraging for its prospects for volume growth. Sahadeo predicts that capex completion will be the main factor in JK Cement’s volume increase during the following two years. The company’s overall goal is to achieve a 25 mtpa grinding capacity by FY25.

Stocks to watch: SBI, Biocon, NDTV, PNB, PVR and more

Aryan Jakhar — Fri, 25 Nov 2022 03:27:03 +0000

The top 10 stocks that will be the subject of today’s attention are listed below:

State Bank of India (SBI): The largest lender in the nation, State Bank of India (SBI), announced on Thursday that it will think about generating money by selling up to 10,000 crores in infrastructure bonds. A greenshoe option worth Rs.5,000 crore will also be included, the bank stated in a regulatory filing. If approved, the fundraising would take place in fiscal 2023 through a public offering or a private placement, according to SBI. On November 29, its executive committee of the central board will convene to discuss the fundraising.

Biocon: The world’s largest biotechnology company, Biocon, announced on Thursday that its subsidiary, Biocon Biologics, has received equity shares worth Rs.2,205.63 crore as part of an equity injection to finance the latter’s purchase of Viatris Inc.’s biosimilars business. In February of this year, Biocon Biologics Ltd (BBL) signed an agreement to buy the biosimilars division of Viatris Inc. for up to USD 3.335 billion (about Rs.24,990 crore). On November 23, BBL made an allocation of the equity shares to Biocon Ltd for a cash consideration of Rs.2,205.63 crore.

Punjab National Bank (PNB): In order to strengthen its capital base, the state-owned Punjab National Bank (PNB) said on Thursday that it had secured government authorisation to sell all of its holdings in UTI Asset Management Company Limited. The bank, which owns a 15.22% interest in UTI AMC, will sell all of its stock in the mutual fund business in a single or series of transactions in order to realise a profit. It is currently valued at Rs.1,329 crore.

NDTV: On the third day of the open offer run by Vishvapradhan Commercial, AMG Media Networks, and Adani Enterprises, about 28 lakh NDTV equity shares were subscribed. More than 16.5% of the total number of shares that will be bought are represented by this. The open offer for Rs.492.81 crores began on November 22 and will run through December 5, 2022. According to BSE data, 27,72,159 equity shares were subscribed for in NDTV’s open offer, which was 16.54% of the book size of 1,67,62,530 equity shares.

Laurus Labs: According to a report, Lauras Labs and Ethan Energy India have signed a Share Subscription Agreement and Shareholders’ Agreement in order to purchase a 26% stake in Ethan Energy India. According to the article, this will enable the business to use all of the solar energy generated by Ethan Energy India’s 10 MW solar energy plant.

ZIM Laboratories: On Wednesday, the provider of drug delivery solutions ZIM Laboratories Ltd announced its intention to list on the National Stock Exchange of India (NSE) on November 25. ZIM Laboratories, which has been listed on the BSE since June 2018 previously, has announced that it will also list on the NSE. The company reported that as of this point, it has given its investors a return on their investment from the listing price of over 85%.

PTC India: Due primarily to lower expenses, PTC India, a provider of power trading solutions, saw its consolidated net profit more than triple to Rs.157.11 crore in the March 2022 quarter. According to a BSE filing, the company’s combined net profit for the three months ending March 31, 2021, was Rs.49.77 crore. Its total expenditures decreased from Rs.3,792.56 crore a year ago to Rs.2,890.57 crore in the quarter.

PVR: To increase its market share, PVR Cinemas on Thursday announced the opening of its first and largest 12-screen superplex in Kerala’s capital city of Thiruvananthapuram at Lulu Mall. On December 5, 2022, this cinema will open for business. The 12-screen facility will feature 2 of PVR’s LUXE luxury formats, including 4DX and IMAX, which are both worldwide formats.

Manaksia Ltd.: The firm has declared a 150% interim dividend for the fiscal year 2022-2023, and the record date for that reason is November 25, 2022, making the stock likely to be in the news tomorrow. In a filing with the stock exchange, the firm stated that its board of directors “Declared Interim Dividend @ 150% (i.e., Rs. 3.00/- per equity shares having face value of Rs. 2/- each) on the Equity Shares of the Company for the Financial Year 2022-2023.” The Interim Dividend must be paid by Friday, December 9, 2022, or earlier.

Commercial Syn Bags, Dev Information Technology, Mafatlal Industries, and Maharashtra Seamless: Commercial Syn Bags, Mafatlal Industries, Dev Information Technology, and Maharashtra These four stocks will be the subject of attention on November 25 because it is the day they become ex-dividend and ex-bonus. These stocks are multi-baggers and have provided investors with impressive returns of between 100% and 450% over the past two years. Three of the stocks are mid-caps, and one is a small-cap.

Stocks to watch: Nykaa, Vedanta, Adani Enterprises, Vedanta, NDTV and more

Aryan Jakhar — Wed, 23 Nov 2022 03:13:12 +0000

On Wednesday, the Sensex and Nifty indices are expected to start the day higher due to strong global sentiment and a drop in crude oil prices.

The SGX Nifty futures were at 18,350 levels, implying an opening rise of roughly 70 points for the Nifty index.

The Dow increased by 1.2% overnight in the US, while the S&P 500 and the Nasdaq each increased by 1.36%. on Tuesday, the Nasdaq fell 1.7% and the fell 1%.

This morning’s Asian indices were uneven, with the Nikkei down 2% and the Hang Seng up 2.9 %.

Vedanta: A third interim dividend of Rs 17.5 per equity share has been declared by the firm, resulting in a loss of Rs 6,505 crore. The company announced that the dividend payout, whose record date has been set for November 30, has been approved by its board of directors.

NDTV: On Tuesday, the first day of its launch, no one responded to the open offer made by the Adani group for more shares of New Delhi Television (NDTV). On December 5, the 16.7 million share open offer priced at Rs 294 per share will expire.

Ultratech Cement: Following the Adani Group, the Aditya Birla Group-owned UltraTech Cement withdrew from the bidding process to purchase the last of Jaiprakash Associates’ cement holdings in India due to a disagreement over the assets’ valuation.

Telecom stocks: According to data from the telecom regulator, India’s total mobile subscriber base decreased by 3.6 million in September. Vodafone Idea had a loss in subscriber count even as larger rivals Reliance Jio and Bharti Airtel added consumers month over month.

Inox Green Energy Services: The business will debut on the stock exchanges today. The share price for the offering has been set at Rs. 65.

Adani Enterprises: On Friday, the business may decide to raise money through an FPO, preferential allotment (including QIP), or a mix of techniques. The share sale may raise as much as $2.4 billion, according to reports.

Wipro: The business just began delivering cybersecurity consulting services in Europe.

Nykaa: Arvind Agarwal, the CFO of Nykaa parent company FSN E-Commerce Ventures, has left his position. On November 25, Agarwal will depart the organisation and vacate his position.

Siemens: For the quarter that ended in September of FY22, the company reported consolidated profit growth of 20.7% year over year to Rs 381.7 crore, and revenue growth of 11.6% to Rs 4,657.1 crore.

Bharti Airtel: The construction of Nxtra Data’s new hyper-scale data centre in Kolkata has begun. Nxtra Data is a Bharti Airtel subsidiary. The largest data centre in East India will be developed with an investment from the corporation of Rs 600 crore, and it will serve the underserved markets of the east and north-east areas as well as the SAARC nations.

VA Tech Wabag: The board of VA Tech Wabag will meet on Friday to discuss and accept the plan for obtaining funds by issuing non-convertible debt obligations through a private placement or other means.

Tech Mahindra: LIC upped its shareholding in this company from 4.86 percent to 6.87 percent.

Infosys: To digitise and automate operations at the latter’s EV battery manufacturing facilities, the business entered into a strategic partnership with Envision AESC.

National Peroxide: As part of routine maintenance, the company’s Kalyan, Maharashtra, factory will be closed beginning on November 22, 2022.

Hindustan Motors: To increase the manufacture of environmentally friendly electric vehicles, the business has signed a Memorandum of Understanding (MOU) to expand the EV market across the border.

UPL: The business declared victory in a legal battle defending the ownership of the patent for its patented Everest crop protection agricultural ingredient.

Stocks to watch: Kaynes Technologies, NDTV, JK Paper, HDFC Bank, Bharti Airtel and more

Aryan Jakhar — Tue, 22 Nov 2022 02:23:49 +0000

The top 10 stocks that will be the subject of today’s attention are listed below:

Keynes Technologies: Following a successful initial public offering, the end-to-end and IoT solutions-enabled integrated electronics manufacturing company Kaynes Technologies will make its market debut on Tuesday (IPO). Kaynes will be listed on the BSE in the “B” group of securities for trading and dealing. The company’s listing was also informed to NSE. Strong demand from all types of investors resulted in a 34.16 times oversubscription for the Rs.858 crore IPO.

FSN E-Commerce Ventures: Private equity firm Lighthouse India will sell shares in FSN E-Commerce Ventures, which manages Nykaa, in a block auction tomorrow for Rs.335 crore. According to sources, The Bank of America Corporation has been selected as the deal’s lender. Lighthouse India anticipates selling the shares for between 180 and 183.5 rupees each, which is 2% less than the e-commerce beauty company’s most recent closing price on Monday.

NDTV: Beginning on November 22, the billionaire Gautam Adani-led Adani Group will launch an open offer to purchase an additional 26% interest in news organisation New Delhi Television Ltd. from the market. According to a letter from JM Financial, the company conducting the offer on behalf of the Adani Group entities, the offer, for which a price band of Rs.294 per share has been defined, will begin on November 22 and end on December 5. The previous window for Adani’s open offer was from October 17 to November 1.

Jindal Steel and Power: The energy ministry of Botswana has named Jindal Steel and Power (JSPL), India’s largest steel, mining, and infrastructure company, as the preferred bidder in a competition to construct a 300 megawatt (MW) coal-fired power plant. For the one fossil fuel-based power plant that the landlocked nation of Southern Africa plans to purchase over the next two decades, Jindal was one of the businesses that submitted a bid.

Nazara Technologies: On Monday, Nazara Technologies reported a 11% increase in its profit after tax for the quarter ended in September 2022, from 153 crore to 169 crore. According to a statement provided to stock exchanges, the company reported that its revenues increased by 104% to Rs.2,638 in the reviewed quarter from Rs.1,296 crore in the comparable quarter the previous year.

Reliance Industries: On Monday, the National Company Law Tribunal (NCLT) approved the acquisition of Reliance Infratel (RITL), which is the owner of the tower and fibre assets of Reliance Communications, by Reliance Jio subsidiary Reliance Projects and Property Management Services. To complete the acquisition of RCOM’s tower and fibre assets, the NCLT has requested that Jio deposit 3,720 crore into an escrow account at the State Bank of India (SBI).

JK Paper: On Monday, JK Paper said that it would gradually purchase Horizon Packs Private Ltd and Securipax Packaging Private Ltd for around 578 crore. The company stated in a regulatory filing that HPPL and SPPL have seven plants spread out across the nation. JK Paper will purchase an 85% stake in each company by purchasing 26.92 crore equity shares in HPPL for Rs.19.33 per share and 4.63 lakh equity shares in SPPL for Rs.1,256.95 each.

HDFC Bank/Canara Bank: According to a report cited by news agency Reuters on Monday, the Reserve Bank of India (RBI) has permitted prominent private sector lender HDFC Bank Ltd and state-run Canara Bank Ltd to register a special “vostro account” for commerce in rupees with Russia. Vostro accounts are crucial to correspondent banking since they are accounts that a bank manages on behalf of another, frequently a foreign bank.

Sadbhav Engineering: According to sources, Vasistha C. Patel has resigned as the organization’s Chief Executive Officer (CEO) with immediate effect. The sources further stated that Nitin R. Patil left his positions as executive director and chief financial officer (CFO) of the business.

Bharti Airtel: In Haryana and Odisha, Bharti Airtel has raised the cost of its lowest recharge mobile plan. The cost of the minimum monthly recharge plan has increased by around 57% to 155 in both states, according to the company’s website. In Haryana and Odisha, the cost of Airtel’s minimum recharge plan up until this point was 99. 200 MB of mobile data were available, and calls cost 2.5 paise per second. The 155 plan includes 300 SMSs, 1GB of total data, and unlimited voice calls.

Stocks to watch: Nykaa, ONGC, Vedanta, NDTV, Blue Dart and more

Aryan Jakhar — Fri, 18 Nov 2022 03:26:41 +0000

The Singapore Exchange’s Nifty futures traded 65 points, or 0.35 percent, higher at 18,440, indicating that Dalal Street would start the day on a positive note.

The top stocks that will be the subject of today’s attention are listed below:

Aditya Birla Fashion and Retail: To launch upscale department stores and a specific e-commerce platform in India, the business formed a strategic alliance with Galeries Lafayette. Blue Dart Express: As part of its expansion strategy, the company announced the creation of 25 retail locations in Tier I and II cities.

Nykaa: Citigroup has started a block sale to sell $125 million or Rs 1,000 crore worth of shares in the cosmetics-to-fashion shop Nykaa. TPG Capital is the seller in the block deal.

Bajaj Auto: Life Insurance Corporation of India (LIC) sold 56.68 lakh shares, or 2% of Bajaj Auto, on the open market. As a result, LIC’s ownership of the company has dropped from 7.2% to 5.2%.

Blue Dart Express: As part of its expansion strategy, the company announced the creation of 25 retail locations in Tier I and II cities.

ONGC: The major oil and gas producer in India, ONGC, is set to have Arun Kumar Singh as its new chairman. This would represent the first time a person over 60 has held the role of chairman of a senior PSU board. After conducting six interviews with potential candidates in August, a search and selection committee appointed by the oil ministry decided on Singh. Singh will be in charge of the financially lucrative PSU for three years if his appointment is confirmed.

NDTV: The Income Tax Department has once more put a hold on a tax claim for the corporation for the assessment year 2007-2008 totaling Rs. 59.98 crore.

Reliance Industries: According to Trai data, the 4G network speed chart for both average download and upload speeds was dominated by telecom giant Reliance Jio. The telecom giant maintained its lead in the market despite a slight drop in 4G speed from 6.4 mbps in September to 6.2 mbps in October.

Vedanta: On November 22, the company’s board will convene to discuss and approve the third interim dividend for the current fiscal year.

Fortis Healthcare: IHH Healthcare, a Malaysian company, has been advised by SEBI to move forward with its open offer to buy an additional 26.1% stake in Fortis Healthcare after receiving the proper approval from the Delhi High Court. For further action, IHH is currently looking for legal counsel.

Mahindra Lifespace Developers: Mahindra Lifespace Developers has begun construction on the Mahindra Citadel Phase 1 residential development in Pimpri Chinchwad, Pune.

UltraTech Cement: At a total expenditure of Rs 187 crore, UltraTech Cement has started operating its third Birla White Wall Care Putty factory in Rajasthan, with a 4 LMT annual capacity. Its current Wall Care Putty capacity is 13 LMT annually.

CSB Bank: The Reserve Bank of India has given the bank permission to name Bhama Krishnamurthy as the bank’s part-time chairperson, effective as of November 17. Between 17 November 2022 and September 28, 2024, she will serve as the bank’s part-time chairperson.

Stocks to watch: LIC, NDTV, Ashok Leyland, SBI and others

Aryan Jakhar — Mon, 14 Nov 2022 03:08:13 +0000

The Singapore Exchange’s Nifty futures traded 38.5 points, or 0.21 percent, higher at 18,474.5, indicating that Dalal Street will have a good Monday.

Q2 Results: Due to the September quarter results, Apollo Tyres, Bharat Forge, Grasim, Indiabulls Housing Finance, IRCTC, MMTC, MTNL, SpiceJet, and Strides Pharma will be scrutinised.

Hinduja Group: Shares of the Hinduja Group, which includes Ashok Leyland, IndusInd Bank, Nxtdigital, Hinduja Global Solutions, Gulf Oil Lubricants, and GOCL Corporation, are likely to be in the spotlight now that the billionaire brothers have called an end to their power struggle, which had threatened the future of the family’s business empire and made up the wealthiest family in the UK.

Ashok Leyland: According to Dheeraj Hinduja, executive chairman, Hinduja Group’s electric vehicle unit Switch Mobility is in talks with financial investors to raise $200-250 million and is willing to dilution of up to 15% ownership in Switch Mobility.

In the meantime, Ashok Leyland reported a net profit of Rs 199 crore for the second quarter of the fiscal year 2022–23, as opposed to a loss of Rs 83 crore for the comparable period in the previous year.

SBI: Following the acquisition of a Euro 150 million credit line for solar energy financing from a German financial institution, the State Bank of India is negotiating a deal for approximately Euro 200 million in climate finance with the European Investment Bank.

KRBL: Under the India Gate label, the business wants to increase the local and international footprint of its premium regional non-basmati types of Kolam, Sona Masuri, and Gobindobhog.

Mahindra & Mahindra (M&M): The auto industry giant revealed better-than-anticipated results for the three months that ended on September 30. Its standalone net profit (after exceptional items) increased by 46% YoY thanks to strong sales of its SUVs and a strong performance by the farm equipment vertical.

Life Insurance Corporation: India’s state-owned Life Insurance Corporation (LIC) recorded a multiple-fold increase in net profit for the second quarter of FY23, which ran from July to September. In Q2, net profit was Rs 15,952.49 crore, up 11 times from Rs 1,433.71 crore in the same quarter last year. This was brought on by a change in its accounting practices, which involved moving Rs 14,271.80 crore from the non-participatory account to the shareholders’ account.

Hindalco: Because of high energy costs and a decline in aluminium prices, Hindalco, the parent company of the Aditya Birla Group, reported a consolidated net profit decline of 35.5% YoY to Rs 2,205 crore for the second quarter of fiscal year 23. Despite the fact that revenue exceeded expectations, the profit for the quarter fell short of street estimates, coming in at Rs 2,384 crore.

NDTV: The firm and its subsidiary NDTV Networks decided to postpone the sale of their 20% investment in Malaysian media company Astro Awani Network. In order to develop a 24-hour news channel in Malaysia and Indonesia, NDTV and Astro formed a joint venture. The following year, 2006, saw the channels’ premiere.

Fortis Healthcare: In the second quarter of the fiscal year, the business reported a 9.9% increase in sales to Rs 1,607 crore and a 27.9% increase in profit after tax to Rs 166 crore. A larger gain of 67% to Rs 218 crore was seen in the reported profit. Due to an exceptional gain of Rs 51.6 crore related to the reversal of impairment in an associate company, Q2FY23 and H1FY23.

Stocks to watch: IndusInd Bank, NDTV, Havells India, Tata Motors and more

Aryan Jakhar — Thu, 20 Oct 2022 03:30:37 +0000

On October 19, although giving up some of its gains in the afternoon trade and closing below the day’s high, the market was able to maintain its upward trend for the fourth straight session. The market closed in the black with aid from ITC, Reliance Industries, and the HDFC twins. The Nifty50 increased by 25 points to 17,512 while the BSE Sensex increased by approximately 150 points to 59,107.

Results on October 30

Several companies will be the focus of attention going forward, including ITC, Asian Paints, Axis Bank, Bajaj Finance, Tata Consumer Products, Colgate Palmolive, Aarti Drugs, Canara Bank, Central Bank of India, Clean Science and Technology, Coforge, Dixon Technologies, Happiest Minds Technologies, ICRA, Indian Energy Exchange, ICICI Securities, L&T Finance Holdings, Mphasis, Nazara Technologies, Shriram Transport Finance, Symphony, Tanla

Stocks to watch today:

Tracxn Technologies: Shares of Tracxn Technologies Limited will begin trading on secondary markets today because the company’s initial public offering (IPO) date is October 20, 2022. The equity shares of Tracxn Technologies Limited will be listed and admitted to dealings on the Indian stock market exchanges in the list of the “B” group of securities in Special Pre-open Session, according to information published on the BSE website, effective as of Thursday, October 20, 2022. (SPOS).

IndusInd Bank: Private lender IndusInd Bank reported a surge in net profit of 60.4% to 1786.72 cr for the September quarter on Wednesday. For the same quarter, there was a net profit of Rs. 1113.53 crore. The bank’s provisions for the quarter decreased by more than 33% year over year, from Rs. 1706.95 crore to Rs. 1,141.06 crore. Provisions for the June quarter totaled Rs. 1,250 crore.

New Delhi Television: On Wednesday, Adani Group stated that it was committed to completing the open offer process to purchase a further 26% interest in NDTV. SEBI has been requested to comment on the Adani Group’s draught open offer letter. The group was late for the open offer debut date for NDTV. In August, the group purchased Vishvapradhan Commercial Pvt Ltd (VCPL), a lesser-known business that had given the founders of NDTV more than 400 crore.

Havells India: As a result of rising commodity prices, Havells India Ltd. on Wednesday announced a 38.15% fall in its consolidated net profit to Rs. 187.01 crore for the second quarter that ended on September 30, 2022. The manufacturer of consumer electrical products reported a combined net profit of Rs. 302.39 crore in the quarter from July to September of the previous year. Havells’ operating revenue increased by 13.63% to Rs. 3,679.49 crore.

SJVN: State-owned SJVN announced on Wednesday that it had won a 105 MW floating solar project from Maharashtra State Power Generation Company in an electronic reverse auction for Rs.730 crore (MAHAGENCO). In a statement, SJVN’s chairman and managing director, Nand Lal Sharma, announced that the company has won a 105 MW floating solar project in an e-reverse auction sponsored by MAHAGENCO.

Bharat Electronics: According to a regulatory filing, electric vehicle manufacturer Triton Electric Vehicle India has given a letter of intent to defense-related public sector organisation Bharat Electronics for the purchase of battery packs for its semi-truck project in India at an estimated cost of Rs.8,060 crore. According to the petition, Bharat Electronics (BEL) must supply the 300 kW lithium-ion battery packs to Triton within 24 months beginning in January 2023.

Tata Motors: On Wednesday, Tata Motors said that ride-hailing service Evera has placed an order for 2,000 XPRES T EVs. “Evera has been associated with us since a long time, and we are delighted to further strengthen this tie-up, by signing an agreement of delivering 2,000 EVs to them,” Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said in a statement.

AU Small Finance Bank: On Wednesday, AU Small Finance Bank (SFB) announced a 23% increase in net profit for the quarter ending in September, coming from solid growth in loan disbursals and a steady decline in bad loans. The lender with headquarters in Jaipur reported a net profit of Rs.279 crore during the same time of the previous fiscal year. During the July–September 2022–23 period, the bank’s net interest income (interest earned minus interest expenditure) increased by 44% to Rs.1,083 crore.

NHPC: According to LIC’s regulatory filing, between March and October of this year, it sold shares worth 700.79 crore. According to IT, its ownership in the hydropower producer NHPC has decreased to 5.2%. According to the statement, the insurer sold 20,36,00,120 shares of the company between March 17, 2022, and October 18, 2022, for an average price of 34.42 per share.

Stocks to Watch: NDTV, IndiGo, SBI, Zee, Reliance, Axis Bank and more

Aryan Jakhar — Thu, 08 Sep 2022 02:25:39 +0000

Even if fears about another rate hike remained high, it appears that the major benchmark indices will begin the year on a positive note, after sharp gains in the US markets. The SGX Nifty futures were trading at 17,724, indicating a possible gap-up of close to 100 points on the NSE benchmark this morning.

In the meanwhile, here is a list of equities that are probably going to be traded on Thursday.

NDTV: The Adani Group has reportedly launched an open offer to buy an additional 26% shareholding (16.76 million shares) at Rs 294 per share, according to a statement the company published to the BSE. The open bid will start on October 17 and run through November 1.

InterGlobe Aviation (IndiGo): According to sources, IndiGo Airlines co-promoter Rakesh Gangwal plans to sell up to a 2.8% share in the airline’s parent business InterGlobe Aviation for roughly Rs 2,000 crore.

Dr. Reddy’s Laboratories: Lenalidomide Capsules, a therapeutically similar generic form of REVLIMID (lenalidomide) Capsules, have been introduced by Dr. Reddy’s Laboratories for the US market. Dr. Reddy’s is qualified for first-to-market, 180-day generic medication exclusivity for Lenalidomide Capsules in 2.5 mg and 20 mg strengths with this volume-restricted launch.

Reliance (RIL): By developing scaleable, cost-effective indigenous items, the company’s retail division hopes to become “Atmanirbhar.” A few days ago, the business shocked the market by paying Rs 22 crore to buy the Campa brand from Delhi-based Pure Drinks Ltd.

SBI: The largest lender in India, State Bank of India, issued additional tier-1 (AT1) bonds on Wednesday for a total of Rs 6,872 crore at a cut-off rate of 7.75 percent, which is the lowest rate established for such debt issuances by any bank thus far in the current fiscal year.

Zee: Zee Entertainment must hold a shareholders’ meeting on October 14 to approve the merger with Culver Max Entertainment, the Mumbai bench of the National Company Law Tribunal (NCLT) ordered on Wednesday (formerly Sony Pictures Network).

Consumer firms: Consumer companies report high festival sales more than two years after the Covid outbreak. In the west and south of India, the festival season has already started with Ganesh Chaturthi and Onam, respectively.

Apollo Tyre: The tyre sector is undergoing some intriguing structural changes, according to Apollo Tyres. Realizations increased 24% between FY 2019–20 and 2021–2022, breaking an eight-year trend of flat realisations. If raw material costs decrease, this should increase EBITDA and lower capex as a percentage of revenue.

JSW Group: With a goal gross merchandise value (GMV) of $20 billion by FY32, Sajjan Jindal-controlled JSW Group wants to turn JSW One Platforms into a titan of the building materials sector’s e-commerce market.

HDFC Bank: With effect from September 7, HDFC Bank, the largest private lender in India, raised its marginal cost of funds-based lending rate (MCLR) by 10 basis points (bps). The six-member rate-setting committee of the RBI raised the benchmark repo rate by 50 basis points to 5.40 percent, which prompted the private sector banks to raise rates for the second time in two months.

Axis Bank: The bank has partnered with branchless banking network PayNearby in an effort to increase lending to key sectors.

Brand Bucket Media & Technology: The board of Brand Bucket Media & Technology approved issuing 1 crore convertible equity warrants to non-promoters on a preferential basis at Rs 33 per warrant in order to raise up to Rs 33 crore.

Stocks in F&O ban: The sole stock subject to the F&O embargo on Thursday is Delta Corp.

Regulatory curbs do not apply to NDTV promoter group, says Adani group

Pranay Maniar — Fri, 26 Aug 2022 08:30:42 +0000

Adani Group today (26^th August) refuted claims made by NDTV that the regulatory restrictions prohibited the founders Radhika and Prannoy Roy from selling their stake in the company.

NDTV claims the billionaire moved without its authorization, raising questions about the news channel’s editorial integrity in the wake of the action.

According to the company’s most recent regulatory filing, SEBI has banned the promoters from the securities market for a two-year period that ends on November 26, 2022, unless ongoing appeals were to be successfully resolved before then.

On Thursday, NDTV attempted to thwart Adani’s plans by asserting that the company’s founders, Prannoy and Radhika Roy, have been prohibited by the market regulator from purchasing or selling shares on the Indian securities market since 2020 and, as a result, cannot transfer the shares Adani is requesting.

On Tuesday, Adani Enterprises announced a bid to acquire NDTV through its subsidiary AMG Media Networks Limited (AMNL), after indirectly acquiring a 29.18% stake in the media company and making an open offer to its public shareholders to purchase an additional 26% stake at a price of 294 per share.

The NDTV promoters’ statement, which was released to stock markets on Thursday, has significance because the Adani group had requested a transfer of the 29.18% of the company’s shares held by promoters within two days through a holding company called RRPRH.

Before the Adani group’s buyout proposal announcement, NDTV’s share price on the Bombay Stock Exchange was 366.20. On Thursday, it increased 5% to settle at 403.70.

As part of a credit deal with the Roys inked in 2009–10, AMNL group has exercised warrants that are convertible into shares of RRPRH held by Vishvapradhan Commercial Private Limited (VCPL). The two NDTV founders and promoters personally own 32.26% of the business.

NDTV share price rises by 5% reaching the upper circuit limit of Rs 407.60

Yakita Somani — Thu, 25 Aug 2022 09:37:22 +0000

NDTV Ltd shares rose for the second day in a row on Thursday, reaching the upper circuit limit of Rs 407.60 on the National Stock Exchange amid the Adani group’s offer to buy the media company.

The scrip rose 5% in opening trade on both the NSE and the BSE, reaching the respective upper circuit limits.

The company’s shares rose 5% to Rs 407.60 per share on the NSE, a 52-week high, after closing at Rs 388.20 on Wednesday.

Similarly, NDTV Ltd rose 5% to Rs 403.70 per share on the BSE. It is also the company’s 52-week high on the stock exchange.

NDTV’s market capitalization has increased by Rs 241.78 crore in two days to Rs 2,602.71 crore on the BSE. In the broader market, the S&P BSE Sensex rose 300 points, or 0.54%, to 59,404, while the NSE Nifty 50 rose 102 points, or 0.6%, to 17,707. The NDTV stock price had also reached the upper circuit in the previous session. So far this year, the share price of NDTV has increased by 250.28%. The 30-share Sensex rose 351 points to 59,436.78 points in the morning trade.

On Wednesday, NDTV Ltd shares reached the upper circuit limits or the maximum permissible trading limit for the day.

On Tuesday, the Adani group announced an open offer to acquire an additional 26% stake in NDTV Ltd, following an indirect acquisition of 29.18% shareholding in the company.

Gautam Adani’s acquisition spree in India and abroad

Pranay Maniar — Wed, 24 Aug 2022 08:07:51 +0000

Gautam Adani India’s and Asia’s richest man has recently acquired the news channel NDTV as he acquired a 29% stake in the company.

Adani’s coal to edible oils conglomerate has been on an acquisition spree in the past 2 years.

Let us look at his purchases

In Media: Earlier this year on 1^st March, Adani announced that they will be acquiring a 49% stake in Quintillion Business Media through AMG Media Networks (a subsidiary of Adani) which is the parent company of the digital media website, The Quint. NDTV became Adani’s latest expansion in the media industry.

Ports: Israel on July 14^th of this year announced that they would sell the Port of Haifa to Adani Ports for $1.18 Billion. This port on the Mediterranean coast is a major trading hub.

Power: Adani Power Ltd on 19^th August said that they will buy the thermal power plant operator DB power at a value of Rs 7,017 crore.

Cement: The Adani Group said in mid-May that they will acquire Holcim AG’s cement venture for $10.5 billion. This was the Group’s largest ever acquisition which made them the second largest cement maker in the country.

Road assets: Adani Enterprises said on Aug. 4 that a unit would purchase Macquarie Asia Infrastructure Fund’s India toll roads in Andhra Pradesh and Gujarat states for Rs. 3110 crores.

Energy: Contrary to previous instances we informed you about, this is not an acquisition but a selling of stake. A French company with the name TotalEnergies announced that it would buy a 25% stake in Adani New Industries Ltd, as part of a deal with Adani Enterprises to develop the world’s biggest green hydrogen ecosystem. In 2021 the French company said that it will be buying a stake in Adani Green Energy Ltd for $2.5 billion.

Stocks to watch today: NDTV, Adani Enterprises, HPCL, NTPC, Tata Motors

Aryan Jakhar — Wed, 24 Aug 2022 03:50:18 +0000

Here are the top 10 stocks that will be the focus of today’s scrutiny.

NDTV: On Tuesday, the Adani group announced a hostile takeover approach for NDTV with an open offer to buy an additional 26% of the company’s stock, or Rs 1.67 crore shares, for up to Rs 493 crore. Vishvapradhan Commercial Pvt Ltd (VCPL), AMG Media Networks, and Adani Enterprises Ltd. are the three Adani group companies that have released a public notification for the offer in accordance with Sebi regulations. The open offer will cost Rs 294 per share, or Rs 492.81 crores.

Adani Enterprises: By acquiring a 29% interest in broadcaster NDTV Ltd. and launching an open offer to purchase an additional 26% from shareholders, as required by law, Asia’s richest man and businessman Gautam Adani made a significant bid for the media and entertainment market in India. The purchase put an end to months of rumours about a potential acquisition, which caused the price of NDTV shares to increase fivefold in nine months (from Rs 75.55 on December 1 to Rs 376.55 on Tuesday on BSE).

NTPC: On Thursday, the state-owned power company NTPC will issue non-convertible debentures in a private placement to raise Rs 2,000 crore. According to a regulatory filing, the funds will be used, among other things, to pay capital expenditures, refinance existing debts, and further general company purposes. The company has made the decision to privately put 2,000 crore worth of unsecured non-convertible debentures on August 25, 2022, with a coupon rate of 7.44% per annum and a 10-year door-to-door maturity.

P&G Hygiene and Health: Due to rising commodity prices, FMCG product manufacturer Procter & Gamble Hygiene and Health Care Ltd on Tuesday reported a 13.12% fall in Profit After Tax (PAT) at 42.55 crore for the fourth quarter that ended on June 30. The company, which uses a fiscal year of July to June, posted PAT of 48.98 crore in the equivalent quarter of the prior year. In the quarter under review, its product sales revenue decreased by 3.8% to Rs 755.65 crore from Rs 785.58 crore in the prior quarter.

Hindalco: The business has set aside a total capital investment of around USD 8 billion over the next five years for its subsidiary Novelis and India, according to Hindalco Industries Chairman Kumar Mangalam Birla on Tuesday. Novelis has identified 4.5 billion USD worth of possible investment opportunities. Birla was addressing at Hindalco’s AGM. He said that the business has discovered approximately $3 billion in possible investment prospects in India.

HPCL: The government-run Hindustan Petroleum has unveiled a cow dung to compressed biogas project at Sanchore in Rajasthan as part of its efforts to expand the mix of green energy. This is the oil major’s first waste-to-energy initiative, and the facility is planned to employ 100 tonnes of cow dung per day to generate biogas that can be used as fuel for vehicles.

Devyani International: On Tuesday, Temasek Holdings subsidiary Dunearn Investments (Mauritius) Pte Ltd sold more than 2% of its ownership in restaurant chain Devyani International for 482 crore in an open market transaction. An omnichannel eatery, Devyani International is Yum Brands’ biggest franchisee in India. Dunearn Investments (Mauritius) Pte Ltd sold 2,63,29,516 shares, or 2.18% of the firm, according to bulk trade data made available by BSE.

Unichem Laboratories: On Tuesday, Unichem Laboratories Ltd. said that the US health regulator has given the company the go-ahead to launch its generic carbamazepine pills, which are classified as an anticonvulsant medication. According to a regulatory filing by Unichem, the US Food and Drug Administration (USFDA) has approved the abbreviated new drug application (ANDA) for 200 mg Carbamazepine Tablets. It is a substitute for Novartis Pharmaceuticals Corp.’s Tegretol (Carbamazepine) tablet, 200 mg.

Tata Motors: At its factory in this location where commercial vehicles are made, Tata Motors has inked a Power Purchase Agreement (PPA) with Tata Power to develop a 7.25 Mwp on-site solar project. According to a statement released by the firm on Tuesday, the initiative will be a key step toward expanding the renewable energy portfolio at its manufacturing plant. With the completion of this project, Tata Motors’ Jamshedpur facility will have an on-site solar plant with a 14 MWp capacity.

Kalpataru Power Transmission: The 210 MW Luhri Hydro Electric Project Stage-1 would use a 220 KV direct current single zebra transmission line that will be built by Kalpataru Power Transmission Ltd, according to state-owned SJVN Ltd on Tuesday. According to a statement from SJVN Chairman and Managing Director Nand Lal Sharma, the company and Kalpataru have reached an agreement for the building of a 220 KV D/C (direct current) single track transmission line for the 210 MW Luhri Hydro Electric Project Stage-1.

Adani is going to buy a 29% share in NDTV and make an open offer for more

Aryan Jakhar — Tue, 23 Aug 2022 12:59:42 +0000

On August 23, the media division of the Adani Group declared that it will buy a 29.18 percent ownership in New Delhi Television Ltd. (NDTV) and make an open offer to buy an additional 26 percent of the company’s stock.

The acquisition of the 29.18 percent interest would take place indirectly through Vishvapradhan Commercial Pvt Ltd (VCPL), a fully owned subsidiary of Adani Enterprises Ltd.’s AMG Media Network Ltd (AMNL) (AEL).

According to a news statement, VCPL has used its option to purchase “99.5 percent of the equity shares of RRPR Holding Private Limited,” a promoter company for NDTV that owns a 29.18 percent stake in the media group.

According to SEBI’s takeover rules, this will result in an open offer to purchase up to a 26 percent interest in NDTV, the business stated.

“VCPL, along with AMNL and AEL, will launch an open offer to acquire up to 26 percent stake in NDTV, in compliance with the requirements of the SEBI’s (Substantial Acquisition of Shares and Takeovers) Regulations, 2011”, the release noted.

This “purchase is a critical milestone,” according to AMNL CEO Sanjay Pugalia, in the company’s mission to “pave the road of new age media across platforms.”

“AMNL aims to provide information and expertise to Indian people, customers, and foreigners with an interest in India. NDTV is the best broadcast and digital platform to carry out our goal due to its dominant position in news and strong and diverse reach across genres and geographies. We anticipate enhancing NDTV’s position as the industry leader in news delivery,” Pugalia added.

The three national news stations NDTV 24×7, NDTV India, and NDTV Profit are all operated by NDTV, which also has a significant web presence. In the fiscal year 2022, the company reported sales of Rs 421 crore, EBITDA of Rs 123 crore, and net profit of Rs 85 crore.

The price of NDTV’s shares at the BSE’s closing bell was Rs 374.70 a share, up 4.99 percent from the previous day’s close. The shares increased 3.09 percent to settle at Rs 369.75 on the NSE.

According to reports that Adani Group would acquire NDTV, the stock of the company reached a 52-week high in September of last year. At the time, the company asserted that its promoters were not in talks with any organisation about changing ownership or selling their position.

Money Laundering Case: Nora Fatehi and Jacqueline Fernandez Summoned again

News Desk — Thu, 14 Oct 2021 14:14:55 +0000

According to the latest news reports. Actress Jacqueline Fernandez and Nora Fatehi were asked to summon again by the Enforcement Directorate (ED).

In connection to the case against con artists Sukesh Chandrashekar and Leena Paul. Nora will reach ED on the 14th of October for further interrogation of the case.

Reports according to NDTV, Chandrasekar, and Paul were both arrested by the Delhi Police. For allegedly duping the family of Fortis Healthcare promoter Shivinder Singh of around Rs. 200 crores. They were asked to come before the court. After the agency took cognizance of an FIR which accused Sukesh Chandrashekar and Leena Paul of criminal, conspiracy, cheating, and extortion.

As per reports, Chandrasekar had been in touch with an actor from Sri Lanka through calls and messages. The agency wanted to question Jacqueline Fernandez in this regard to the case. AS she belongs from Sri Lanka.

Last month, Jacqueline Fernandez was also asked to summon regarding this case. But, she skipped them. In August 2021, she was questioned by the Prevention of Money Laundering Act (PMLA) for five hours. After which, she was summoned again for questioning about the same.

According to Times Now, ED is now looking into various people who are directly or indirectly connected to this case.

Reports also suggest that the ED is looking into the possibility that money was invested abroad. And it was led by Sukesh Chandrashekar, an accused in a bribery matter. They had raided Sukesh and his wife’s house previously. ED has also said that Bollywood celebs are active participants in this entire case.

SEBI bars NDTV promoters for insider trading

Sarthak Yadav — Sat, 28 Nov 2020 07:47:58 +0000

Today, Securities and Exchange Board of India barred NDTV’s two promoters, Prannoy Roy and Radhika Roy for two years and directed to disgorge illegal gains of more than ₹16.97 crore for indulging in insider trading more than 12 years ago.

SEBI in total has barred seven individuals and entities for insider trading in the shares of the company for a period varying from one to two years. Also, some of them have been asked to disgorge illegal gains made from trading in the shares when they were in possession of Unpublished Price Sensitive Information (UPSI).

The directions follow a probe conducted by the markets regulator between September 2006 and June 2008 wherein various violations of insider trading regulations were found.

The amount has to be paid jointly or severally by them along with 6% interest from April 17, 2008, till the date of actual payment.

SEBI said in three separate orders passed late on Friday, “All the entities have violated Prohibition of Insider Trading (PIT) Regulations.”

According to the regulators, Prannoy Roy and Radhika Roy together made a gain of ₹16.97 crore while indulging in insider trading in the shares of New Delhi Television Ltd (NDTV) while in possession of UPSI relating to the proposed reorganization of the company.

Prannoy Roy who was the chairman and whole-time director and Radhika Roy was the managing director during the period under investigation and were part of the decision-making chain that had led to the crystallization of the UPSI.

Discussions pertaining to reorganisation of the company started on September 7, 2007, and the disclosure was made on April 16, 2008.

The UPSI period was September 7, 2007, to April 16, 2008

Prannoy Roy and Radhika Roy sold shares on April 17, 2008, when the trading window for them was closed and made a profit of ₹16,97,38,335.

Hence, they violated PIT norms and also acted in contravention of NDTV’s code of conduct for prevention of insider trading which prohibited them from trading at least till 24 hours after the information was disclosed to the stock exchanges.

The Roys are thus restrained from accessing the securities market for two years and directed to disgorge illegal gains along with 6% interest per annum.

Vikramaditya Chandra group CEO and executive director during that period made a profit of ₹6.67 lakh; Ishwari Prasad Bajpai, who was senior advisor-editorial and projects, made an illegal gain of ₹8.82 lakh; while director finance and group CFO Saurav Banerjee incurred a loss of ₹47,000 while trading in NDTV’s scrip during the UPSI period.

SEBI has therefore directed disgorgement of respective illegal gains along with 6% interest per annum and barred Chandra, Bajpai and Banerjee from accessing securities market for one year.

Also, Sanjay Dutt’s wife Prenita Dutt and their entities Quantum Securities Pvt Ltd, SAL Real Estate Pvt Ltd and Taj Capital Partners Pvt Ltd had made a wrongful gain of ₹2.2 crore through insider trading while in possession of UPSI.

Sanjay Dutt was an on-call and in house advisor/team member of NDTV group. He was responsible and accountable for the corporate finance and strategic planning function of the firm.

Due to his position, he was in possession of or has had access to price-sensitive information and had communicated the same to his wife, Prenita Dutt, and entities connected to him Quantum Securities, SAL Real Estate and Taj Capital Partners which, in turn, traded in the shares of NDTV during the UPSI period and made illegal gains of ₹2.2 crore.

Therefore, SEBI has directed disgorgement of the illegal gains which is to be paid by them jointly or severally along with 6% interest and also barred all the entities including Sanjay Dutt from accessing securities market for two years.

How is #ChaiBiscuit trending and what did Republic TV’s Pradeep Bhandari say?

News Desk — Sat, 26 Sep 2020 08:21:50 +0000

A sudden shift of trends on Twitter and a very abrupt hashtag, #ChaiBiscuit starts trending. Who are these ‘chai biscuit wale patrakar’ and why NDTV and ABP journalists are being called goons? Recently, a video from Mumbai has gone viral which, at first look, seems to be a street fight. No, they were not fighting over cutting-chai and biscuit, if you are thinking so.

चाय से सत्ता आती है, चाय बिस्कुट से सत्ता जाती है #ChaiBiscuit pic.twitter.com/BPTeHywaS1

— sohit mishra (@sohitmishra99) September 25, 2020

The incident happened on Thursday, when designer Simone Khambatta was summoned at the South Mumbai office of NCB and as usual journalists in large numbers gathered to cover it. Pradeep Bhandari, a TV journalist associated with the Republic TV, allegedly called a local journalists ‘chai biscuit wale patrakar’. The video was shared on September 24th by Bhandari on his Twitter account and is going viral ever since. While many individuals sympathized with Bhandari, most of the journalists criticized his derogatory words.

जानते है महाराष्ट्र में सच बोलने की क़ीमत क्या है?
कार्टेल के नामी-गिरामी चेहरे जैसे-जैसे एक्सपोज़ हो रहे है, उनका ग़ुस्सा और बढ़ता जा रहा है।जब पुलिस से भी काम नहीं बना तो आज NDTV और ABP के गुंडे पत्रकारों को मेरे पास हाथपाई करने भेज दिया। लेकिन मैं टूटने वालों में से नहीं हूँ। pic.twitter.com/z2fvH2KkUK

— Pradeep Bhandari(प्रदीप भंडारी)🇮🇳 (@pradip103) September 24, 2020

In his tweet, Pradeep Bhandari is referring to recent events of assaults for speaking against Maha Govt. and calling journalists of NDTV and ABP “goons”.

Another journalist of NDTV, Saurabh Gupta tweeted his reply to Pradeep Bhandari’s comments, “To #ChaiBiscuit as reporters that’s all that we eat on some days on the field. So if someone calls us #ChaiBiscuit reporters, we are very proud of it. We swear by it! In solidarity with #ChaiBiscuitReporters who slog it out on the field everyday.”

To #ChaiBiscuit As reporters that’s all that we eat on some days on the field. So if someone calls us #ChaiBiscuit reporters, we are very proud of it. We swear by it! In solidarity with #ChaiBiscuitReporters who slog it out on the field everyday. pic.twitter.com/IwhWWspKgJ

— Saurabh Gupta(Micky) (@MickyGupta84) September 25, 2020

Rajdeep Sardesai while targeting the Republic TV tweeted, “An image which perhaps defines the TV media in banana republic times. When a ‘noise’ channel hires private security to ‘protect’ their so-called reporter from fellow journalists: it’s a sign of the channel having lost the most precious TRP: TV RESPECT POINTS of your peers!”

An image which perhaps defines the tv media in banana republic times. When a ‘noise’ channel hires private security to ‘protect’ their so called reporter from fellow journalists: it’s a sign of the channel having lost the most precious TRP: TV RESPECT POINTS of your peers!🙏 pic.twitter.com/cVWSx0HUf1

— Rajdeep Sardesai (@sardesairajdeep) September 24, 2020

Journalists are continuously sharing pictures of them having chai and biscuits and tweeting using the hastag #ChaiBiscuits to show solidarity with their fellow journalists.

Here a look:

Some more #ChaiBiscuit for journos in #Mumbai today. At the NCB office. 💪👊 pic.twitter.com/iuFwZwmhgv

— Ananya Bhattacharya (@ananya116) September 25, 2020

Not a chai drinker, but in solidarity with reporters! #ChaiBiscuit pic.twitter.com/vSw9qScAlj

— Zeba Warsi (@Zebaism) September 25, 2020