Reliance Industries has announced a flurry of share sales as it looks to cut debt.
On February 27, the Securities Appellate Tribunal allowed lenders Nippon India Mutual Fund and Credit Suisse to invoke shares of Reliance General Insurance pledged by Anil Ambani group firms. Lenders including Credit Suisse, Nippon Life, Life Insurance Corporation of India. Other banks and institutions own non-convertible debentures of Reliance General Insurance.
The stock was listed on February 27 at Rs 14 and declined to a low of Rs 3.92 on March 31.
On October 16, 2018, Deepak Fertilisers allotted about 6.5 million convertible warrants to a promoter group entity at 308.79 per share for 200 crore.
The qualified institutional placement (QIP) could begin early this week.
These stocks can return 19 per cent to 24 per cent in one year, according to ICICIdirect.
The fund house said it has compensated the scheme for the erroneous trade.
Chairman of Tata Sons and CEOs of all operating companies will take an estimated 20% cut in pay.
410 out of 1,300 non-service companies such as ITC, Maruti Suzuki, Hero have resumed operations.
Delhi-based investors allege mismanagement in 6 wound-up schemes; AMC denies wrongdoing
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