Vishal Mega Mart bulk deal: Singapore government and HDFC MF buy shares while promoter sells 14% for Rs 7,636 crore

The Singapore government and HDFC Mutual Fund on Friday acquired promoter stakes worth Rs 1,485 crore and Rs 1,100 crore in Vishal Mega Mart, respectively, through separate bulk deals. The Monetary Authority of Singapore also emerged as a major buyer, buying shares worth Rs 858 crore in the supermarket-to-fashion retailer.Promoter entity Samayat Services LLP has […]

Mahindra will increase capacity after quarterly profit rise

Indian automaker Mahindra & Mahindra plans to expand capacity for its sports utility vehicles and electric vehicles this year to meet rising demand, helping the company post a nearly 33% quarter-on-quarter profit increase on Wednesday.The Mumbai-based company is India’s second-largest automaker by revenue, with a portfolio made up entirely of feature-rich SUVs.Mahindra plans to increase […]

Global Markets | European shares remain steady as investors take stock of mixed earnings updates

Europe’s benchmark stock index was subdued on Tuesday as BP shares fell after the energy giant suspended share buybacks, while gains in luxury stocks after a better-than-expected earnings update from Kering limited declines.The pan-European STOXX 600 index was flat at 621.28 points at 0815 GMT, just a hair away from an all-time intra-day high. BP […]