Actions targeted on March 28: GAIL, Emami, PVR and more
By Malvika Gurung
Investir.com — Bharti Airtel (NS:): The telecommunications major will take a stake of around 4.7% in Indus Towers from Euro Pacific Securities, at a price of Rs 187.88/share. The total value of the transaction will be Rs 2,388.06 crore. Additionally, it will also acquire a 7% stake in Avaada KNShorapur for a cash consideration of Rs 1.74 crore.
GAIL (NS:): The public gas company will consider a share buyback on March 31, and its board will also approve financial results for the fourth quarter of FY22 and fiscal year.
Emma (NS:): FMCG has acquired the Dermicool brand from British FMCG major Reckitt for Rs 432 crore excluding taxes and duties.
PVR (NS:), Inox Leisure (NS:): The two largest cinema chains in the country have announced a merger to form a resilient entity, branded PVR INOX Ltd, which will have a market capitalization of over Rs 16,000 , and operates 1,546 screens in 72 cities.
Wipro (NS:): The IT company’s board has approved an interim dividend of Rs 5/share for the current financial year.
Vodafone Idea (NS:): Beleaguered telecoms company shareholders have given the company a nod for raising Rs 14,500 crore, during the EGM.
Fino Payments Bank (BO:): The central bank RBI has approved the referral of clients of lender NaviMumbai to Finwizard Technology for mutual fund distribution and 5paisa Capital for demat trading services under the referral agreement.