GAGA Share Market News

[hfe_template id='11223'] [ad_1] Shares of Tata Consultancy Services (TCS) will be in focus after the company announced that it has entered into an agreement with Isisekelo Sethu Trust to sell and dispose off 30% of shares worth Rs 28 crore (ZAR 60 million) held by TCS Africa in TCS SA to comply with the Broad-Based Black Economic Empowerment (B-BBEE) guidelines in South Africa. “We hereby inform that Tata Consultancy Services (Africa) (Proprietary) Limited (TCS Africa), a wholly owned subsidiary of Tata Consultancy Services Limited (TCS) and Tata Consultancy Services (South Africa) (Proprietary) Limited (TCS SA), a step down wholly owned subsidiary of TCS have entered into an agreement with Isisekelo Sethu Trust to sell and dispose off 30% of shares held by TCS Africa in TCS SA to comply with the Broad-Based Black Economic Empowerment (B-BBEE) guidelines in South Africa. Consequent to the above transaction, TCS SA will cease to be a wholly owned step-down subsidiary of ...

[hfe_template id='11223'] [ad_1] Billionaire Anil Agarwal's Vedanta fell short of meeting its initially targeted proceeds from an offer for sale (OFS) in group entity Hindustan Zinc, with the exercise netting ₹3,100 crore for the resources conglomerate that had first sought to garner up to ₹6,500 crore in stake dilution but later reduced the OFS size. Vedanta sold 63.6 million shares of Hindustan Zinc in a two-day OFS that concluded on Monday. The promoter, Vedanta, initially aimed to raise up to ₹6,500 crore by divesting a 3.17% stake. The natural resources company held a 64.92% stake in the zinc company as of June and offloaded a 1.5% stake through the OFS on Friday and Monday. Shares of Hindustan Zinc have plunged nearly a fifth since last Monday, wiping out more than ₹50,000 crore in market vale. Vedanta had initially said that it would sell 51.4 million shares of Hindustan Zinc, with the option to additionally sell up to 82.3 million shares in case of oversubscr...

[hfe_template id='11223'] [ad_1] The Bhatia family, promoters of India's largest airline IndiGo, is likely to to sell a 2% stake in the company on Tuesday for approximately ₹3,292.3 crore ($394 million) through a block deal, as per a term sheet reviewed by ET. This is the first time the Bhatia Family is selling their stake in InterGlobe Aviation post the IPO. The term sheet indicates that the seller is InterGlobe Enterprises Private Ltd, through which Rahul Bhatia, one of the company's promoters, held a 37.91% stake in the company as of March 2024, according to BSE filings. Together, the Bhatia and Gangwal Families hold a 57.29% stake in InterGlobe Aviation. Following the block deal, there will be a lock-up period of 365 days for the seller, according to the term sheet. The sellers are offering 7.71 million shares for sale, at a price ranging from ₹4,266 to ₹4,562.55 per share, the closing price on Monday. Citigroup is the banker for the deal. Interglobe Enterpr...