GAGA Share Market News

[hfe_template id='11223'] [ad_1] Shares of Religare Enterprises went up by 2.8% on the BSE to their day’s high of Rs 241.70 on the BSE on Tuesday after the company appointed Trilegal and Grant Thornton Bharat LLP to conduct a governance review, assessing past operational practices and potential misconduct involving current and former employees. In a stock exchange filing, the company said the review will cover Religare Enterprises Ltd (REL) and its subsidiaries—Religare Finvest and Religare Housing Development Finance Corporation. The assessment aims to identify any irregularities, recommend system improvements, and strengthen internal controls. The board has also decided to seek immediate funding support from its new promoters, the Burman Group, to address an expected cash flow shortfall. “The Board has reviewed the company’s fund flow position and identified a cash flow gap in the coming months. After evaluating various options, it has unanimously decided to approach t...

[hfe_template id='11223'] [ad_1] Domestic markets remained subdued on the weekly expiry day, ending nearly unchanged amid the ongoing tussle. In today's trade, shares of Religare Enterprises, NTPC Green, Grindwell Norton, JM Financial, Tata Steel among others will be in focus due to various news developments. Religare Enterprises The Burman family has acquired a controlling stake in Religare Enterprises Limited (REL) after the completion of the open offer where it bought 83,201,819 equity shares representing 25.16%. Grindwell Norton Grindwell Norton appointed Venugopal Shanbhag as the managing director of the company with effect from April 2025. Samvardhana Motherson Samvardhana Motherson incorporated the arm 'Motherson Treasury Strategy' within the jurisdiction of Abu Dhabi Global Market, United Arab Emirates. JM Financial JM Financial got a tax department order for refund of Rs 230 crore for assessment year 2008-09. ITI ITI received an initial tranche of Rs...

[hfe_template id='11223'] [ad_1] Mumbai: Florida-based businessman Digvijay Laxmansinh Gaekwad has once again submitted a fresh application to market regulator Sebi to submit a competing offer that he wants to run parallel to the Burmans' ongoing open offer in Religare Enterprises (REL). Sebi had earlier returned Gaekwad's application, citing non-compliance with its regulations. Gaekwad said he is ready to establish an escrow arrangement upon Sebi's approval and sought necessary approval from the Reserve Bank of India. He has also appointed PL Capital Markets as the merchant banker for this bid. During the hearing last week, senior counsel Aryama Sundaram, representing Rao, suggested Gaekwad was preparing to file a fresh exemption request. "Senior counsel Aryama Sundaram's statement hints at collusion between Gaekwad and Rao to block Burmans' open offer at any cost," said Shriram Subramanian, managing director, InGovern Research Services, a ...

[hfe_template id='11223'] [ad_1] Shares of Religare Enterprises surged more than 9 per cent on the bourses on Tuesday amid reports that the Reserve Bank of India (RBI) has cleared Burman family's open offer to acquire an additional 26 per cent stake in the company. According to reports, the RBI approval comes with conditions, including maintaining the existing management structure and not appointing new directors at this stage. The scrip of the company climbed 4.50 per cent to Rs 290.55 apiece on NSE. In intraday trade, it surged 9.5 per cent to hit its 52-week high of Rs 304.60 per share. On the BSE, it jumped 4.09 per cent to Rs 288.95 apiece. Later, it bounced 9.62 per cent to hit its 52-week high of Rs 304.30 apiece. Meanwhile, the 30-share BSE Sensex rose 91.20 points or 0.11 per cent to 81,599.66, while NSE Nifty went up 11.85 points or 0.05 per cent to 24,630.85. The RBI approval has a validity period of one year. While the clearance of the deal is a signifi...