The Veteran Investor Radhakrishnan Damani bought 1.51% percent stake in VST Industries company . Now 34.4% ownership has taken from his side, Promoter holding for this company is 32.6%. The Value of Share purchased is Rs.86.25 Cr.
VST INDUSTRIES Market Price is moving in Ascending channel and market has rebounded from the higher low area of the channel
In the latest development at VST Industries, renowned investor Radakishan Damani has made a significant purchase, acquiring 2.33 lakh shares, equivalent to a 1.51 percent stake in the company, at an average price of Rs 3,689.96 per share. This purchase amounts to Rs 86.25 crore in total. As of December 2023, Damani already held a 32.89 percent stake in the company. With this recent acquisition, his ownership in VST Industries has risen to 34.4 percent.
This transaction follows Damani’s earlier move in January when he procured a 1.44 percent stake, pushing his shareholding beyond the 30 percent mark. Consequently, he became the largest shareholder in the company, surpassing the promoters who held a 32.16 percent stake at that time.
In contrast, HDFC Mutual Fund has divested its holdings in VST Industries by selling 3.3 lakh shares at Rs 3,690.23 per share. This sale amounts to a disposal of 2.15 percent stake. Until December 2023, HDFC Mutual Fund maintained a 5.84 percent stake in the company based on shareholding data.
Manapurram Finance: Manappuram Finance Board to Discuss $500M Fundraising Plan on April 19
The Manapuram Finance Board plan to raise $500 million from External commercial Borrowings including US Government Bonds and properly by RBI Guidelines. This Fund raising plan for extension of Business branches.
MANAPPURAM FINANCE Market Price is moving in Ascending channel and market has reached higher high area of the channel
Manappuram Finance’s Board to Deliberate $500 Million Fundraising Proposal on April 19
Manappuram Finance has announced that its board will convene on April 19 to discuss a plan to raise $500 million in one or more installments. The proposed funds will be acquired through external commercial borrowings, including the issuance of US dollar-denominated bonds, in compliance with the guidelines set forth by the Reserve Bank of India (RBI).
Notably, just a month ago, the board had approved the issuance of redeemable non-convertible debentures (NCDs) totaling up to Rs 6,000 crore. These debentures were to be issued either through private placement or public offering across one or more tranches. The purpose of raising these funds was to support the company’s business expansion initiatives for the financial year 2024-25.
Additionally, the board has granted approval for the issuance of secured, non-cumulative, redeemable, listed, rated, non-convertible taxable debentures amounting to Rs 25 crore on a private placement basis, as disclosed by the company to the stock exchanges.
RAMAKRISHNA FORGINGS: Ramkrishna Forgings Surges 3% on Receipt of Rs 270-Crore Vande Bharat Order
The Ramkrishna Forgings acquired Worth of Rs.270 Cr for Vande Bharat Train manuafacturing orders. Already $220 million order acquired from North America for Light Vehicle manufacturing order.
RAMKRISHNA FORGINS Market Price is moving in Ascending channel and market has rebounded from the lower low area of the channel
Ramkrishna Forgings’ Soars 3% on Acquisition of Rs 270-Crore Vande Bharat Order
Ramkrishna Forgings, in a regulatory filing, disclosed that it has been awarded a significant contract worth Rs 270 crore for the development and validation of the bogie frame for the sleeper version of the Vande Bharat trainset. This order entails the manufacturing of bogie frames for 32 trainsets, each comprising 16 coaches.
The company emphasized its expertise in precision engineering and its commitment to maintaining high-quality standards, positioning itself as a reliable partner for large-scale infrastructure projects. It assured timely delivery of the project, underscoring its dedication to meeting client requirements.
Earlier in February, Ramkrishna Forgings secured a contract worth $220 million in the North American markets. This long-term contract, spanning over a decade, signifies the company’s expansion into a new vertical within the forging sector. It focuses on supplying Tier 1 customers in the light vehicle segment across North America, marking a significant milestone for the company’s growth strategy.
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