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Vedanta promoter buys 4.98% stake in Indian unit


Vedanta promoter buys 4.98% stake in Indian unit
The details of the institutional shareholder sellers were not disclosed. reuters
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Vedanta Resources Ltd, the promoter entity of billionaire Anil Agarwal’s Vedanta Ltd, on Thursday bought 185 million shares or a 4.98% stake in the company for ₹2,959 crore from the company’s institutional shareholders, according to bulk deal data available on the exchange.
This purchase will take the shareholding of Vedanta Resources to 55.1%. As on 30 September, promoters held 50.13% in the company. Promoters are allowed to acquire up to 5% a year through creeping acquisition without triggering an open offer, according to Securities and Exchange Board of India norms. ....

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Jubilant Foods, Bharti Airtel, Burger King: Top Stocks for Investors Today


Jubilant Foods, Bharti Airtel, Burger King: Top Stocks for Investors Today
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Let us take a look at the top stocks for December 24. 
Jubilant Foods, Burger King, Westlife Development: The excise license charges for restaurants will be reduced by half by the state government of Maharashtra. It has also waived off the 15 percent increase in the excise renewal fee for the year 2020-21.
Reliance Industries: In September 2020, Jio - which is the telecom company by Reliance Industries - had added 14.6 lakh new subscribers. In October, it added as many as 22.3 lakh subscribers. 
Mahindra and Mahindra: The company was barred from selling the older model of its Roxor vehicle by a US regulator International Trade Commission, six months ago. However, after the introduction of changes in the design, the regulator has ruled that the new model does not infringe the intellectual property rights of the Fiat Chrysler Automobiles’ Jeep brand.   ....

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Vedanta to acquire 4.98% shares through block deal - The Hindu BusinessLine


Our Bureau
After failing to delist the company through reverse book-building offer, Anil Agarwal-owned Vedanta plans to acquire 4.98 per cent shares between ₹150.45 and ₹160 a share through a block deal on Thursday.
JP Morgan India will act as the broker to the promoters’ company Vedanta Holdings Mauritius. The company will acquire 1.8 crore shares.
The offer price is at 6.3 per cent premium over the closing price of ₹150 on Wednesday. The share of the company, which had hit the lower circuit of ₹132.65 on Monday, has gained 8 per cent on Wednesday. As per SEBI norms, promoters are allowed to acquire up to 5 per cent a year through creeping acquisition. ....

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