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News on Medial
Shares of Reliance-owned Just Dial jump 20% on dividend buzz
The Arc Web
·
1y ago
Medial
Just Dial's shares surged over 20%, increasing its market cap to ₹10,564 crore. Reliance Retail, which holds a 65% stake, acquired Just Dial in 2021. With ₹4,755 crore in cash, the company is considering a dividend payout of ₹500-600 crore. Previously, Just Dial issued dividends in 2014 and 2015 and executed a share repurchase in 2020.
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TIMF Holdings Buys 12 Lakh Shares Of Nazara In INR 105 Cr Bulk Deal
Inc42
·
1y ago
Medial
TIMF Holdings, owned by US-based Think Investments, acquired shares from Gyaana Retreat and Services, Fashion Brands, and Parijata Trading at INR 872 apiece. NODWIN Gaming's decision to increase their stake in Freaks 4U Gaming to 100% resulted in a 7% jump in shares of Nazara on June 28.
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Prospect Capital Plunges on First Dividend Cut Since 2017
Livemint
·
9m ago
Medial
Shares of Prospect Capital Corp., a publicly-traded private credit fund, dropped more than 16% after the company cut its dividend for the first time in seven years. The 25% dividend cut is a result of the firm's shift away from risky investments and the impact of recent interest rate reductions by the Federal Reserve. Prospect has faced increased scrutiny over its borrowers, relationship with a real estate investment trust, and reliance on retail investors for financing. The dividend cut is seen as an effort to maintain its investment-grade rating.
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Suzlon Shares in Focus: Promoters Likely to Offload Rs 1,295-Cr Stake via Block Deal at 3% Discount
OutlookIndia
·
2m ago
Medial
Promoters of Suzlon Energy plan to sell 20 crore shares of the company, reducing their stake from 13.25% to 11.8%. The shares rose nearly 3% during pre-open trade ahead of this Rs 1,295 crore block deal, which offers a 3% discount on the closing price. Suzlon's recent financial performance showed a significant profit increase, attributed to tax gains, and a strong core operational performance, with a 73% revenue jump.
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Finance Ministry revises norms for dividend payments, share buybacks, stock splits for PSUs | Company Business News
Livemint
·
8m ago
Medial
The Indian Finance Ministry has introduced new norms for dividend payments, share buybacks, and stock splits at state-run companies. State-run non-banking financial companies (NBFCs) are now required to pay a minimum annual dividend of 30% of their profit. Public sector units (PSUs) must also pay a dividend of 30% of profit or 4% of net worth, whichever is higher. The guidelines also allow companies meeting certain criteria to consider share buybacks and mandate the issue of bonus shares if reserves are 20 times the share capital. Additionally, stock splits are encouraged for companies with share prices exceeding 150 times its face value.
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Infosys dividend: IT major declares final dividend of ₹28 per equity share
Livemint
·
1y ago
Medial
Infosys declared its Q4 FY24 results and announced a final dividend of ₹20 per equity share and a special dividend of ₹8 per share. The company reported a net profit of ₹7,969 crore in the March quarter and revenue of ₹37,923 crore. The record date for dividend payment is May 31, 2024, and the payment will be made on July 1, 2024. Infosys' operating margin declined to 20.1% in Q4 FY24.
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Vedanta board announces third interim dividend of FY25 at ₹20 per share | Mint
Livemint
·
11m ago
Medial
Vedanta Ltd's Board of Directors has approved the issuance of a third interim dividend for the financial year 2024-25. The dividend amounts to ₹20 per equity share and the total value is ₹7,821 crore. The dividend will be paid on September 10. This is the third dividend issued by Vedanta in the current financial year, with the previous dividends being ₹11 per share and ₹4 per share. Vedanta also reported a 54% rise in net profits for the April-June quarter of FY 2024-25.
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India's Arvind Fashions to sell Sephora retail division to Ambani's Reliance
Reuters
·
1y ago
Medial
Arvind Fashions, an Indian fashion retail company, has announced the sale of its beauty brands division to Reliance Retail, the retail unit of billionaire Mukesh Ambani's Reliance Industries, for $11.89 million. The division retails products of LVMH-owned beauty chain Sephora. The deal will strengthen Reliance's portfolio of international brands, and comes after previous reports of unsuccessful talks for a partnership between Sephora and Reliance Retail. Arvind Fashions shares surged 7.3% following the announcement.
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NCLT Mumbai approves sale of Reliance Communications' real estate assets, shares
Livemint
·
1y ago
Medial
The National Company Law Tribunal (NCLT) in Mumbai has approved the sale of certain real estate properties and shares owned by Reliance Communications (RCom). The resolution professional of RCom had sought the NCLT's endorsement for the sale of unencumbered assets. The assets include the Chennai Haddow Office, land parcels in Ambattur and Pune, an office space in Bhubaneswar, and investments in shares of Campion Properties and Reliance Realty. The proceeds from the sale will be distributed during the execution of the approved resolution plan or liquidation.
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Mukesh Ambani rejoins $100 billion club as Reliance stock surges record 2.6%
Livemint
·
1y ago
Medial
Mukesh Ambani, the chairman of Reliance Industries Ltd, has seen an increase of $2.8 billion in his wealth, bringing it to a total of $101.8 billion, making him the richest person in India and Asia. This marks his return to the $100-billion club for the first time since June 2022. Ambani owns 42% of Reliance, a conglomerate with interests in energy, telecommunications, and retail. The company's shares have risen 2.6% to a record high, driven by a jump in quarterly profit and a diversification into technology and renewable energy.
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500-2,000% dividend! These 4 stocks to trade ex-date for corporate action today; key details & targets
Business Today
·
5m ago
Medial
Several companies have announced dividends and target price updates. Alkem Laboratories Ltd declared a dividend of Rs 37 per share, with a target price of Rs 4,527. Gulf Oil Lubricants announced a Rs 20 per share dividend, with a revised target price of Rs 1,630 by ICICI Securities. Cummins India declared an interim dividend of Rs 18 per share and a target price of Rs 4,401. PI Industries announced a Rs 6 per share dividend, targeting Rs 4,265.
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