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Kotak Mahindra Mutual Fund on Monday bought a 6.6 per cent stake in pharmaceutical companyAmi Organics for nearly Rs 301 crore through open market transactions. According to the block deal data available on the National Stock Exchange (NSE), Kotak Mahindra Mutual Fund (Kotak MF) purchased 26.97 lakh shares or 6.59 per cent stake in two tranches in Gujarat-based Ami Organics as reported news agency PTI.The shares were acquired at an average price of Rs 1,115 apiece, taking the combined transaction value to Rs 300.81 crore.Meanwhile, Ami Organics promoters Vaghasia Chetankumar Chhaganlal and Nareshkumar Ramjibhai Patel divested the same number of shares at the same price on the NSE.After the stake sale, the combined holding of promoters and promoter group in Ami Organics has declined to 29.36 per cent from 35.96 per cent.On Monday, shares of Ami Organics rose 5.82 per cent to close at Rs 1,189 apiece on the NSE.In two separate bulk deals on the NSE and BSE, private equity firm SAIF Partners on Monday trimmed its holding in Le Travenues Technology, the parent company of online travel aggregator Ixigo, by selling a 1.1 per cent stake for Rs 76 crore through open market transactions.Hong Kong-based SAIF Partners, through its affiliate SAIF Partners India IV, offloaded 43 lakh shares, amounting to a 1.1 per cent stake in Le Travenues Technology, as per the data.The shares were disposed of at an average price of Rs 178 per piece on the BSE and NSE, taking the aggregate deal value to Rs 76.54 crore.Details of the buyers of Le Travenues Technology’s shares could not be ascertained on the exchanges.Shares of Le Travenues Technology fell 1.43 per cent to close at Rs 174.75 apiece on the NSE, and the scrip of the company dipped 1.38 per cent to settle at Rs 174.60 apiece on the BSE.
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Modi’s Asia Double Play: Japan Now, China Next — What India Wants (and Risks)
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Luxury skincare expansion: L’Oreal acquires majority stake in Medik8; announces 1 billion Euro deal
[ad_1] Cosmetics maker L’Oreal agreed to acquire a majority stake in British skincare brand Medik8, in a strategic move to strengthen its presence in the booming skincare market. The French beauty giant announced the deal on Monday, though financial terms were not disclosed.The transaction, which sees UK-based private equity firm Inflexion selling its majority holding, reportedly values Medik8 at around 1 billion Euro, according to a source familiar with the matter. Inflexion will retain a minority share, while L’Oreal has secured the option to eventually buy out all remaining shareholders, Reuters reported.“We are delighted to welcome Medik8 to the L’Oréal family. As a premium skincare range, with high levels of proven efficacy at an accessible price point, Medik8 perfectly complements our existing skincare portfolio,” Cyril Chaupuy, president of L’oreal Luxe said.“This acquisition further strengthens L’Oreal’s luxe portfolio, adding a premium […]
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[ad_1] India’s GDP has more than doubled in the last decade, and experts believe that this has trickled down to the poorest. (AI image) Marking a big achievement over the last decade, extreme poverty in India has dropped substantially from 27.1% in 2011-12 to 5.3% in 2022-23, according to the latest World Bank data. The remarkable progress under the Narendra Modi government has come despite the World Bank raising its poverty threshold to $3 per person per day from $2.15 per person per day earlier.Incidentally, India’s huge reduction in extreme poverty comes at a time when globally there has been an increase in the number of people below the poverty line. According to a government fact sheet, India has emerged a statistical outlier in the positive direction.The latest data is being seen as a boost in the government’s economic growth […]
Ayodhya land prices: Circle rates revised first time in 8 years; soar up to 200%
[ad_1] For the first time in eight years, Ayodhya has seen a sharp revision in its circle rates, with property prices rising between 30% and 200% across various parts of the district, officials told PTI.The prices are particularly steep within a 10-kilometre radius of the Ram Janmabhoomi Temple, an area witnessing a real estate boom fuelled by religious tourism and rapid infrastructure growth. Here, circle rates have jumped over 150%, pushing land values in the prime zone to Rs 26,600–27,900 per square metre, compared to Rs 6,650–6,975 earlier.Shanti Bhushan Chaubey, sub-registrar of Sadar (Faizabad) tehsil, said the hike followed a proposal submitted last September. “After addressing objections, the new circle rates were approved by District Magistrate Tikaram Funde and have now been enforced,” he said.According to Chaubey, the sharpest hikes were recorded in areas with the most land activity. “Localities […]
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