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Why M&M shares crash 7% today; check latest news & targets

Business Today

Business Today · 6m ago

Why M&M shares crash 7% today; check latest news & targets

Mahindra & Mahindra (M&M) shares fell 7% as the board approved a Rs 4,500 crore investment in subsidiaries via rights issues. M&M plans to invest Rs 3,000 crore in Mahindra & Mahindra Financial Services and Rs 1,500 crore in Mahindra Lifespace Developers. Despite strong demand, recent innovations, and partnerships, investors reacted negatively to potential cash outflows. Analysts have mixed views, with target prices ranging from Rs 3,205 to Rs 3,675.

Related News

M&M block deal | Shares worth Rs 2,184 crore change hands; promoter likely seller

Money Control

Money Control · 1y ago

M&M block deal | Shares worth Rs 2,184 crore change hands; promoter likely seller

Shares of Mahindra and Mahindra (M&M) declined over 4% after a block deal involving 1.1 crore shares, or a 0.9% stake in the company, was completed on March 7. The stake sale was done at a floor price of INR 1,924 per share, totaling a transaction value of INR 2,184 crore. M&M's promoter group, PMSP Ltd, owns 11.64% of the company and was reportedly looking to sell around 0.75% stake for around $215 million via a block deal.

Companies News Today Live Updates on December 29, 2024: Jeju Air issues apology following tragic South Korea plane crash, says, ‘will do everything in our power’

Livemint

Livemint · 8m ago

Companies News Today Live Updates on December 29, 2024: Jeju Air issues apology following tragic South Korea plane crash, says, ‘will do everything in our power’

The live updates for December 29, 2024, include Jeju Air's apology following a plane crash in South Korea, promising to take necessary actions. The updates also cover the latest developments in various companies, focusing on financial performance, strategic acquisitions, mergers, and leadership changes that influence industry trends and the business landscape. Keep informed on the dynamic shifts within the corporate sector through detailed insights and timely updates.

Mumbai entrepreneurs launch startup investment collective

Economic Times

Economic Times · 6m ago

Mumbai entrepreneurs launch startup investment collective

The Tech Entrepreneurs Association of Mumbai (TEAM) has launched “TEAM Angels,” an investment initiative led by tech founders to support startups with funding between Rs 50 lakhs to Rs 7 crores. The scheme targets early-stage startups, fostering more startup activities in Mumbai. Chief Minister Devendra Fadnavis announced plans for a futuristic innovation city, 'M-Hub', in Navi Mumbai. Additionally, a government WhatsApp chatbot and a cybercrime headquarters have been launched to enhance citizen services and cybersecurity.

Sony confirms PS5 Pro is not coming to India, here is why

Business Insider

Business Insider · 9m ago

Sony confirms PS5 Pro is not coming to India, here is why

Sony has confirmed that the PS5 Pro will not be coming to India due to regulatory restrictions around Wi-Fi 7. The PS5 Pro, an upgraded version of the current PS5, relies on Wi-Fi 7 for smoother gameplay and improved graphics. Wi-Fi 7 is the latest wireless standard designed to improve connection speeds and support high data loads. However, India's government has not yet approved the use of the 6GHz band necessary for Wi-Fi 7. This leaves Indian gamers with the option of sticking with the current PS5 or waiting for an alternative solution to be introduced by Sony.

Companies News Today Live Updates on October 27, 2024: Why Ratan Tata’s biography didn’t have his final sanction

Livemint

Livemint · 10m ago

Companies News Today Live Updates on October 27, 2024: Why Ratan Tata’s biography didn’t have his final sanction

Companies News Today Live Updates on October 27, 2024 provides the latest information on financial performance, strategic acquisitions, and market shifts. This includes insights on mergers, acquisitions, financial results, and leadership changes that are impacting various industries.

Why did Paytm shares hit 5% upper circuit today?

Inshorts · 1y ago

Why did Paytm shares hit 5% upper circuit today?

The shares of One97 Communications, the parent company of Paytm, hit 5% upper circuit on NSE on Monday. This comes after the fintech firm said that it has intensified its focus on insurance distribution to Paytm consumers and small merchants and SMEs. Paytm shares closed at ₹357.95 today against the previous close of ₹340.90 on the NSE.

Coffee Day Enterprises shares hit upper circuit today; here's why

Business Today

Business Today · 5m ago

Coffee Day Enterprises shares hit upper circuit today; here's why

Coffee Day Enterprises shares surged sharply after reaching a settlement with IDBI Trusteeship over a debt of Rs 205 crore. The company plans to settle the debt in three tranches, partly using funds from the third-party sale of 12.41% pledged Coffee Day Global shares for Rs 55 crore. As a result, the firm's market capitalization rose to Rs 518.41 crore, maintaining a consistently high performance on the stock market today.

Companies News Today Live Updates on November 29, 2024: Why IT services firms don’t offer full-year guidance but set lofty revenue goals

Livemint

Livemint · 9m ago

Companies News Today Live Updates on November 29, 2024: Why IT services firms don’t offer full-year guidance but set lofty revenue goals

Today's live updates on companies news provide the latest information on financial performance, strategic acquisitions, and market shifts. These updates offer detailed insights into mergers, acquisitions, financial results, and leadership changes that are influencing the business landscape across various industries.

Biocon shares: Two factors why the pharma stock rose 4% today

Business Today

Business Today · 4m ago

Biocon shares: Two factors why the pharma stock rose 4% today

Biocon shares have experienced mixed performance, with a 14% annual gain but a 14% decline since the start of this year. The stock currently trades below various moving averages. On BSE, 2.08 lakh shares amounted to a Rs 6.56 crore turnover, raising the market cap to Rs 38,131 crore. The 52-week range was Rs 404.60 to Rs 260. Biocon CEO Shreehas Tambe oversees products like JOBEVNE, pivotal in cancer treatment and organ transplant rejections.

Startup and news updates: Daily roundup (January 6, 2025)

YourStory

YourStory · 7m ago

Startup and news updates: Daily roundup (January 6, 2025)

The latest startup developments highlight innovations from new ventures and funding announcements. BorderPlus, led by Kumar and Mathur, focuses on global mobility for blue-collar workers. Accel's new $650M fund targets early-stage startups. TSAW Drones and Consint.AI secure fresh capital, signaling advancements in drone deliveries and healthcare AI. Meanwhile, leadership appointments and partnerships in various sectors emphasize strategic growth and innovation, including Odisha's new mobility app and Wardwizard's battery tech collaboration with C4V.

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