Every week we bring you the big news of the entire week related to the corporate and startup world.
Every week we bring you the big news of the entire week related to the corporate and startup world. So let’s know the big news of the corporate world.
Every week we give you corporate (corporate) and startup (Startup) Introducing you to the big news of the whole week related to the world. So let’s know the big news of the corporate world. The country’s biggest corporate dispute has now taken a new turn. led by Jeff Bezos Amazon the Future Group (Future Group) A notice has been sent to the promoters of In this notice, the promoters of Future Group have been asked not to enter into any kind of deal directly or indirectly with Reliance Industries. Future Group is in talks with RIL to sell its supply chain and logistics business.
Through the notice, Amazon said that Future Group had fraudulently handed over its 835 stores to RIL despite the creditors rejecting the deal and now intends to transfer the rest of the business. Also, in another news, another group company Future Enterprises has defaulted on interest payment of Rs 1.41 crore on NCDs. On June 8, the stock of Future Group had closed on the upper circuit of 5 per cent.
LIC shares fall
At the same time, the decline in the stock of LIC, the country’s largest insurance company, is not taking its name to stop. After losing the tag of the fifth most valuable company last week, now the company’s market cap has slipped below Rs 5 lakh crore. The stock is down nearly 24 per cent against the issue price of Rs 949 and experts believe that this fall may continue till mid-June, when the one-month lock-in period of anchor investors will end. Last week, brokerage house Emkay started coverage on the stock with a neutral rating and a target of Rs 875, which is below the issue price. On June 9, the stock of LIC had slipped below Rs 725, down about 2 percent and the market cap came down to close to 4.5 lakh crores.
The Adani Group and the country’s largest hospital operator Apollo Hospitals are in talks to buy a majority stake in the diagnostics chain Healthcare. According to the current market cap of Metropolis Healthcare, this deal can be worth more than one billion dollars or 7500 crores. In the May 21 episode, we informed you about the entry of Adani Group in the healthcare sector. A subsidiary company Adani Health Ventures Limited ie AHVL has been formed for healthcare business which will also include medical and diagnostic services. The Adani Group has set aside an amount of $ 4 billion for this business and the group also intends to enter the pharmacy business. On June 9, Adani’s stock closed with a gain of nearly half a per cent.
Adani Group’s New Deal
Adani Transmission, a company associated with the power transmission business of the Adani Group, has tied up with Essar Power Transmission Company ie EPTCL to buy a power transmission line. EPTCL has 465 km long transmission lines in three states. But this deal includes the transmission line from Mahan Power Station in Madhya Pradesh to Sipat Polling Substation in Chhattisgarh. The enterprise value of this deal is Rs 1913 crore. The deal will strengthen Adani Transmission’s hold in Central India and help it achieve its target of 20,000 circuit kilometers ahead of time. Adani Transmission’s stock closed near the day’s high on June 6, up 3.5 per cent.
Infosys, the country’s second largest IT company, has defended the no-compete rule in the offer letter issued to its employees. According to the company, this is common and standard business practice in the sector and is done to protect the sensitive information of its customers. The company also told the Chief Labor Commissioner that this clause in the offer letter is applicable only for a limited period of time. On June 6, the stock of Infosys closed with a strength of about one and a half percent.
Source: www.tv9hindi.com
: Language Inputs