Manaksia Steels shares locked in 10% upper circuit

The company acquired 13.25 lakh shares of Manaksia Limited, which, too, jumped about 6 percent in the morning trade. The acquisition has increased Manaksia Steel's shareholding in Manaksia Limited to 6.10 percent from 4.08 percent.

Shares of Manaksia Steels were locked in their 10 percent upper circuit at Rs 10.93 in the morning trade on BSE on September 17, a day after the company announced the acquisition of shares of Manaksia Limited.

Shares of Manaksia jumped about 6 percent in the morning trade on BSE.

"The company has acquired 13.25 lakh shares of Manaksia Limited on September 16 through market purchase. Consequent upon the aforesaid acquisition, the revised shareholding of the company in Manaksia Limited has been increased from 4.08 percent to 6.10 percent," Manaksia Steels said in a regulatory filing.

The shares were acquired at Rs 39.65 per share and at a total consideration of Rs 5.27 crore.

The company said the shares were acquired through market purchase at the available price and accordingly the transaction was not a related party transaction.

"Manaksia Steels Limited is a promoter group company of Manaksia Limited. Promoter and promoter group of Manaksia Steels are also among the promoter/promoter group of Manaksia Limited and as such the promoter/promoter group of Manaksia Steels have an interest in Manaksia Limited," the regulatory filing said.

The promoter’s holding in Manaksia Limited has been increased from 72.91 percent to 74.93 percent due to this acquisition

Comments

Ashoka Buildcon share price up 4% on bagging 2 NHAI projects

The share touched its 52-week high Rs 127.90 and 52-week low Rs 37.00 on 23 September, 2019 and 03 April, 2020, respectively. Ashoka Buildcon share price added over 4 percent in early trade on September 8 after the company emerged as the lowest bidder (L-1) for the two NHAI projects. The aggregate quoted value of the projects is Rs 1,390 crore. The company had submitted bids to National Highway Authority of India (NHAI) for the project of four laning of Arra h to Pararia section of NH-319(Old NH-30) in the State of Bihar under Bharatmala pariyojana Phase -1 on EPC Mode (Package-I) and Four laning of Pararia to Mohania section of NH-319(Old NH-30) in Bihar under Bharatmala Pariyojana Phase-I on EPC Mode (Package II). At 09:23 hrs Ashoka Buildcon was quoting at Rs 70.60, up Rs 2.40, or 3.52 percent on the BSE. The share touched its 52-week high Rs 127.90 and 52-week low Rs 37.00 on 23 September, 2019 and 03 April, 2020, respectively. Currently, it is trading 44.8 percen...

Reliance Jio Q3 results: Profit grows to Rs 3,489 crore; ARPU rises to Rs 151

The average revenue per user (ARPU) during the quarter came at Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the September quarter. Reliance Jio, the telecommunications arm of Jio Platforms, on January 22 posted a net profit of Rs 3,489 crore for the quarter ended December 31, 2020. The profit was higher than the street expectations as analysts in a CNBC-TV18 poll had estimated the number at Rs 3,200 crore. Jio's net profit grew 15.5 percent QoQ as in the September quarter of FY21, its profit was Rs 3,020 crore. The average revenue per user (ARPU) during the quarter came at Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the September quarter. A CNBC-TV18 poll had estimated ARPU at Rs 148.2. Revenue, including access revenues for the quarter, was Rs 22,858 crore ($3.1 billion), up 5.3 percent QoQ. A CNBC-TV18 poll had estimated revenue to the tune of Rs 18,165 crore. EBITDA for the quarter stood at Rs 8,483 crore ...

US investors' rights law firm announces probe against HDFC Bank

The investigation is reportedly resulting from allegations that HDFC Bank may have issued materially misleading business information to the investing public. American Law firm, Rosen Law, has announced an investigation of potential securities claims on behalf of shareholders of HDFC Bank. The firm is also preparing for a class action suit on behalf of bank’s shareholders. The investigation is reportedly resulting from allegations that HDFC Bank may have issued materially misleading business information to the investing public. Rosen Law, on its website, asked investors to provide their details if they have purchased HDFC Bank Limited securities and would like to receive information about the investigation concerning the class action to recover the investor losses in HDFC Bank Limited securities. “A representative of The Rosen Law Firm will contact you at no cost to you and provide you detailed information concerning the proposed class action to rec...

SD Solutions

Search This Blog