Reliance Industries (RIL) and Jio Platforms announced today that Intel Capital will invest Rs 1,894.50 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Intel Capital's investment will translate into a 0.39% equity stake in Jio Platforms on a fully diluted basis. Intel Capital joins the list of firms who have recently invested in Jio Platforms, taking the total investment amount to Rs 117,588.45 crore.
Vedanta will be excluded from the Nifty 50 index and it will be replaced by HDFC Life Insurance Company. The change shall become effective from 31 July 2020.
Hindustan Unilever yesterday announced the next step in the evolution of its skin care portfolio to a more inclusive vision of Positive Beauty, and introduces Glow & Lovely, the new name for the Fair & Lovely brand. Over the next few months, Glow & Lovely will be on the shelves, and future innovations will deliver on this new proposition. The Men's range of Fair & Lovely will be called 'Glow & Handsome'.
Muthoot Finance said that a meeting of the board of directors of the company is scheduled to be held on 18 July 2020 to consider and approve the proposal for sub-division / stock split of equity shares of the company. Besides, approval of shareholders for increase the borrowing powers of the board of directors of the company from existing Rs 50,000 crore to Rs 75,000 crore.
The board of directors of Motherson Sumi Systems approved a group reorganization plan. The reorganization realigns interests of all its stakeholders and creates a simplified corporate structure for growth of businesses across product portfolios within auto components space and allied operations. The reorganization plan approved by the respective boards of MSSL and Samvardhana Motherson International (SAMIL) among other things, entails demerger of Domestic Wiring Harness (DWH) business from MSSL into a new company which is in the process of being incorporated as a wholly owned subsidiary of MSSL (New Co.) and subsequent merger of SAMIL into MSSL to consolidate 100% shareholding in Samvardhana Motherson Automotive Systems Group BV (SMRP BV) as well as to bring all auto component and allied businesses in SAMIL under MSSL.
Tau Investment Holdings Pte. (Acquirer) announced open offer for acquisition of up to 20,093,346 equity shares of J.B. Chemicals & Pharmaceuticals together with Tau Holdco Pte. and KKR Asia III Fund Investments Pte from the public shareholders. The open offer is being made at a price of Rs 745 per equity share.
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VST Tillers Tractors reported sales of 805 tractors in June 2020 as against 728 units in June 2019. Sales of power tillers stood at 2,675 units against 3,325 units.
WPIL reported 70.66% surge in consolidated net profit to Rs 24.90 crore on 4.18% rise in total income to Rs 287.01 crore in Q4 March 2020 over Q4 March 2019.
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