L&T Finance Holdings: Citigroup sold 4.88% stake. Citigroup Global Markets Mauritius and CBNA London sold a 4.88% stake in the company in an open market transaction on February 21. Their participation rate is now 3.87% compared to 8.75% previously. The stock is trading at a 29% discount to its price a year ago, and is down 7.7% over the past month.
Vedanta Ltd: A third interim dividend will be considered. The company’s board of directors will review and approve the third interim dividend for fiscal year 2021-22 on March 2, 2022. The record date for determining that shareholders are entitled to the aforementioned dividends, if declared, will be Thursday, March 10, 2022. The stock is up 69% over the past year. It has traded up 9% in the past month.
Vodafone Plc: Vodafone Plc sells stake in Indus Towers. Vodafone Plc will sell a 2.4% stake in Indus Towers tomorrow in a block transaction of 63.6 million shares worth $200 million. Morgan Stanley has been appointed as the broker for the deal, offering a range of 227-231 rupees per share, about a 10% discount to the current market price.
Sanofi India: Announced special dividend. A final dividend of Rs 181 per share for the year ended December 2021 has been approved by the board. The company has also declared a special dividend of Rs 309 per share this year. The stock has lost 8.6% over the past year and has been unchanged for a month.
Forbes Corporation: Term Sheet Approving the Sale of Shares. The company’s board of directors has approved a binding term sheet for the sale of its entire interest in subsidiary Forbes Facility Services to SILA Solutions for Rs 420 crore. In addition, the joint venture with Sterling Investment Corporation GS Enterprises on Shapoorji Pallonji Forbes Shipping (SPFSL) will be terminated but will continue to hold 25% of SPFSL and preferred shares. The stock is down 69% in the past year and 93% in the past month.
Wipro: Partner of o9 Solutions. The company has joined o9 Solutions’ global partner network. It will help companies quickly transform complex supply chains and remove inefficiencies from long-term supply chain solutions by digitizing their integrated planning and operations management functions. The stock has risen 36% in the past year, but is down 6% in the past month.
Piramal Enterprise: Fundraising for NCDs. The company’s board will consider raising funds through the issuance of non-convertible bonds of up to Rs 1 billion, with an option to maintain the over-subscription of up to Rs 400 crore on February 28. This will bring the total private financing through NCDs to Rs 500 crore.
Complete News Source : Money Control
