Sebi imposes Rs 25 cr penalty on Ambani brothers and others

Mumbai: The Securities and Exchange Board of India(Sebi) has imposed a total penalty of Rs 25 crore on current and former promoters of Reliance Industries Ltd (), including Mukesh Ambani, Anil Ambani, their mother, spouses and children, other family members and entities linked to them for alleged violation of takeover rules. In January 2000, RIL … Read more

IRCTC OFS closes; govt to mop up Rs 4,374 crore

The government is expected to garner Rs 4,374 crore from the Offer for Sale (OFS) of the Indian Railway Catering and Tourism Corp (IRCTC) which closed on Friday. The promoter had proposed to sell up to 2,40,00,000 equity shares of IRCTC, representing up to 15 per cent stake, with an option to additionally sell 80,00,000 … Read more

SBI board okays to divest 8.5% stake in UTI Trustee Co

New Delhi: State Bank of India (SBI) on Tuesday said its board of directors has approved to divest over 8.5 per cent in UTI Trustee Company. “The executive committee of the central board of directors of State Bank of India approved the divestment of 8,510 equity shares constituting 8.51 per cent of the bank’s stake … Read more

RIL’s partly paid shares hit lower circuit post Q2 results

Following the selloff in fully paid-up equity shares on Monday, Reliance Industries’ partly paid-up (PP) rights shares hit 10 per cent lower circuit limit after the company on Friday reported a 15 per cent year-on-year (YoY) drop in net profit at Rs 9,567 crore for the quarter ended September 30. RIL’s PP shares plunged 10 … Read more