The Indian stock benchmark rose for the third consecutive session on March 30, rising to a six-week high on progress in Russia-Ukraine talks and gains in auto, IT, banking, capital goods and real estate names. At close, the Sensex was up 740.34 points, or 1.28 percent, to 58,683.99, and the Nifty was up 173 points, or 1 percent, to 17,498.30.
Ash bank
Private lender Axis Bank will acquire Citibank’s consumer business in India for $1.6 billion in a cash deal, the Citigroup announced on March 30. The transaction includes the sale of Citibank India’s consumer banking business, including credit cards, retail banking and asset management. and consumer loans, Citigroup said. “The transaction also includes the sale of the consumer business of Citi’s non-banking finance company, Citicorp Finance (India) Limited, comprising its asset-backed financing business, including loans for commercial vehicles and construction equipment, as well as its personal loan portfolio,” it added. to.
Nazara Technologies
Subsidiary Nazara Pte Ltd (Nazara Singapore) will invest $2.5 million in BITKRAFT Funds. Of which $0.875 million will be pre-invested, while the remaining $1.625 million investment amount will be committed over a three-year period.
Tata Steel
Tata Steel has transferred its entire interest in Tata Steel Special Economic Zone Limited to Tata Steel Utilities and Infrastructure Services for consideration other than cash. The company has entered into an asset transfer agreement to acquire specified assets of Stork Ferro and Mineral Industries Private Limited to produce ferroalloys.
ONGC
The issuance of the two-day offer for sale will close on March 31. The Government of India has decided to exercise the over-subscription option for an amount of 9.4 crore shares, in addition to 9.4 crore shares of ONGC. Accordingly, the total size of the offer for sale will be up to 18.8 crore shares or 1.5 percent of the total paid-up equity.
Mangalam Cement
Promoter Vidula Consultancy Services acquired 2.26 lakh shares in the company through open market transactions. This puts the stake in the company at 9.92 percent, compared to 9.1 percent earlier.
Godrej Properties
The real estate developer has acquired a nine-hectare plot in the Pimpri-Chinchwad residential micromarket in Pune. The development will primarily be a group housing project.
Quess Corp
The board has approved the transfer of the company’s digital business, comprising Qjobs, Worq and Dash, as a slump-based continuity sale to the company’s subsidiary Billion Careers Private Limited (BCPL), for Rs 5 .04 crores. The company has signed the first addendum agreement with Stellarslog Technovation (Taskmo), Naveen Ramachandra and Prashant Janadri (founders), under which it will make an additional investment of Rs 3.84 crore. The Board of Directors also approved the reappointment of Executive Chairman Ajit Isaac as Non-Executive Chairman (Non-Executive Director) effective April 2022.
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