The battle for the takeover of MCFL has been going on for one year.
Poddar had earlier said he would sell his stake in Mangalore Chemicals to the highest bidder.
UltraTech Cement's announcement that it would snap up a controlling stake in India Cements may only be a sign of more to come. In the wake of one of the country's most expensive deals in recent times, cement majors may slug it out to add smaller firms from the region to their portfolio. UltraTech's buy is the latest in the four deals the southern market has seen in less than a year, with Adani Cement being the other buyer.
An open offer for acquisition of additional stake in a listed company can move forward only after issuance of 'observations' by Sebi.
Corporate earnings grew in double digits during the April-June 2022 (Q1FY23) quarter but the momentum waned. Overall corporate earnings in the quarter were down sharply from their highs in FY22. The combined net profit of 2,981 listed companies across sectors in the Business Standard sample was up 22.4 per cent YoY to Rs 2.24 trillion in the June quarter, driven by a big jump in the earnings of banks, non-banking lenders, oil & producers, and FMCG companies. Also, earnings in the corresponding quarter a year ago were affected because of the second wave of the Covid pandemic, even though the numbers were a lot better than Q1FY21 when there was a nationwide lockdown.
A forensic audit has found possible 'irregularities and mismanagement' in advances and investments made by Mangalore Chemicals and Fertilizers to his other group companies.
Hundreds of BJP workers who had gathered outside the complex cheered when Parrikar arrived.
Sebi asked to reconsider open offer nod as KFA was identified as wilful defaulter.
Senior NWAI officials were in Goa to hold discussions with the Goa government on nationalising the inland waterways, especially Mandovi and Zuari rivers, frequently used by iron ore barges to transport minerals.
"As long as there is a fire which caused the damage, the claim is maintainable, even if the fire is for a fraction of a second," the Supreme Court has said.
Deepak Fertilizers plans to revise open offer price to beat Mallya-Poddar efforts
Traffic will be restricted on the Zuari bridge, a vital link between north and south Goa, as it has developed a crack, Chief Minister Pratapsingh Rane said on Tuesday.\n
Through the UB Group, Mallya holds 21.98 per cent stake in MCF.
Deepak Fertiliser's promoter might offer to buy Saroj Poddar's stake.
Since crocodiles are known to be present in the river water, precautions are being taken for the safety of the divers.
Mallya intends to protect his shareholding in India's largest brewer in which Dutch brewer Heineken holds 37.5% stake.
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
After being forced to resign as chairman of MCF, Mallya is now keen on increasing his stake in the company
Creditors are fighting to get back Rs 600 crore, KFA employees not paid for months.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Poddar-Mallya agreement on running MCF likely to be re-worked.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'When Pinnacle Trust bought the stake of Supreme Energy, it included a liability of Rs 640 million. The purchase was at a fair market value (prevailing price) of Rs 8.80 per share,' Deepak Kochhar said in a telephonic conversation with Business Standard.
The enforcement agency is looking to ensure that no big deals or transactions, such as the one Mallya struck with Diageo for Rs 500 crore, take place.
Go firefly spotting, enjoy a beach vacation or pay a visit to the menstruating goddess in Assam this month.
If they encash shares, Dutch major Heineken will emerge as single largest shareholder in the company.
Mallya has lived on the edge for long enough to know that his extradition from UK is not a given, says N Sundaresha Subramanian.
BSE Healthcare, Oil & Gas, Consumer Durable, TECk, Power and Metal indices declined between 0.5-1%.
Tendering the shares in an open offer will lead to higher taxation.
'If your paper writes something you don't agree with, will you criticise it?' Nitin Gadkari asks Aditi Phadnis when quizzed about demonetisation.
At 15.05 PM, the 30-share Sensex was up 281 points at 28,238 and the 50-share Nifty gained 86 points at 8,577
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Indian billionaires do not believe in sitting on their wealth.
