Latest news with #KWI
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Business Standard
20 hours ago
- Business
- Business Standard
Stocks to Watch today, June 26: Vi, HUL, JSW Steel, BSE, PB Fintech, Ceat
Stocks to Watch Today, Thursday, June 26, 2025: Domestic equities are set to extend gains to the third day, with the benchmarks eyeing their highest levels this year amid mixed global cues. The early indicator of Nifty50 performance -- GIFT NIFTY -- was up 42 points or 0.16 per cent at 25,293 as of 7:45 AM. Stocks in the Asia region wavered, taking cues from a flat close on Wall Street. Last checked, Japan's Nikkei was higher by 1.1 per cent, and South Korea's Kospi was down 1.65 per cent. Traders also assess mixed comments from the US President, who said the war between Israel and Iran is over, but later warned that new fighting could start soon. Trump said the US would hold a meeting with Iran next week. Meanwhile, benchmark indices in the US closed muted despite nearing their record highs. The S&P 500 index closed flat, while the Dow Jones Industrial Average was 0.25 per cent lower. Back home, on Wednesday, the BSE Sensex settled 700.40 points or 0.85 per cent higher at 82,755.51, while the Nifty50 rose 200.4 points or 0.80 per cent to end at 25,244.75. FIIs sold shares worth ₹2,427.74 crore, while DIIs net bought equities worth ₹2,372.96 crore. Track LIVE Stock Market Updates Here Meanwhile, below are some stocks to watch during today's session: Vodafone Idea: The telecom company is in talks with lenders to borrow about $2.9 billion in loans to bolster its network and compete better with large rivals, according to a Bloomberg report. The State Bank of India will likely lead a consortium of lenders, and the debt is expected to be a mix of domestic and foreign loans with a tenor of about 10 years. Jio Financial Services: The company said it has infused ₹190 crore in its payments bank subsidiary. It has been allotted 190,000,000 equity shares of ₹10 each of Jio Payments Bank Ltd, a wholly-owned subsidiary, for cash at par, aggregating ₹190 crore. Hindustan Unilever: The Magnum Ice Cream Company HoldCo 1 Netherlands B.V. has agreed to acquire 61.9 per cent of Kwality Wall's (India) (KWI) from the Unilever Group, HUL said in a stock exchange filing. Magnum HoldCo will be required to make an open offer to the public shareholders of KWI for additional shares. JSW Steel: The steel maker filed a petition seeking a review of the Supreme Court (SC) order rejecting its resolution plan for debt-laden Bhushan Power and Steel (BPSL). Lenders of BPSL, including the State Bank of India and the Punjab National Bank, have already filed review petitions against the judgment. BSE: The securities market regulator imposed a ₹25 lakh penalty for violations of Regulation 39(3) and related circulars during February 2021–September 2022. BSE said there is no material impact on its operations or finances. JSW Energy: The company's subsidiary, Energizent Power, has signed a 25-year Power Purchase Agreement with NHPC for 300 MW ISTS-connected solar-wind hybrid capacity at ₹3.49/KWh. The project, in Rajasthan and Andhra Pradesh, will be commissioned in 24 months. Texmaco Rail: The company received a ₹535 crore order from CAMALCO SA for 560 wagons and 20-year maintenance, with potential for 1,040 additional wagons over the next five years. PB Fintech: The co-founders, Yashish Dahiya and Alok Bansal, could offload 5.05 million shares or 1.1 per cent stake at ₹1,800 apiece, according to reports. The total transaction is valued at ₹912 crore. Sun Pharmaceutical: The pharma major's European partner, Philogen S.p.A has voluntarily withdrawn its marketing authorisation application for its investigational skin cancer therapy Nidlegy in the European Union (EU). Ceat: The tyre maker announced its plans to raise up to ₹500 crore through the issuance of unsecured non-convertible debentures (NCDs) on a private placement basis. The company's Finance and Banking Committee approved the proposal at a meeting held on June 25. Union Bank of India: The state-owned lender said the bank plans to garner ₹6,000 crore through a mix of equity and debt to fund its business growth. The board approved the raising of equity capital not exceeding Rs 3,000 crore in tranches through a public issue. Coal India: The state-owned firm's coking coal production dropped by 8.7 per cent to 4.53 million tonnes in May, even as the government aims to increase the output to reduce dependency on imports. Coal India's coking coal production was 4.96 MT in May 2024. Dilip Buildcon: The company provisionally completed the Bangalore-Chennai Expressway project (Km 127–156) in Andhra Pradesh under Bharatmala. The authority issued the Provisional Completion Certificate, declaring commercial operation from May 09, 2025. ASK Automotive: The company's board has approved forming a joint venture with T.D. Holding GMBH to manufacture and market sunroof and helix cables. The company will hold 49 per cent in the JV and invest up to ₹2.45 crore. Rashtriya Chemicals and Fertilisers: The company's request for recognition of EPMC/spot gas used in Urea production for 2021–23 was rejected by DoF, causing an estimated $204.14 crore impact. The company said it is seeking reconsideration.
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Business Standard
a day ago
- Business
- Business Standard
Magnum to acquire 61.9% of Kwality Wall's India from Unilever Group
The Magnum Ice Cream Company HoldCo 1 Netherlands B.V. has agreed to acquire 61.9 per cent of Kwality Wall's (India) (KWI) from the Unilever Group, Hindustan Unilever (HUL) said in a stock exchange filing. 'Magnum HoldCo has agreed to acquire all of the KWIL shares to be issued to the Unilever Group shareholders pursuant to the demerger, comprising 61.9 per cent of the issued and paid-up share capital of KWI,' the filing said. Completion of the acquisition is subject to the fulfilment of conditions outlined in the share purchase agreement. These include the successful demerger of KWI from Hindustan Unilever, the listing of KWI shares, and receipt of requisite statutory and other approvals. The filing also stated that Magnum HoldCo will be required to make an open offer to public shareholders of KWI for additional shares, in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. 'Unilever PLC has been informed by The Magnum Ice Cream Company that, upon acquiring the India IPRs, The Magnum Ice Cream Company will ensure continued access to the India IPRs by HUL, and upon effectiveness of the demerger, by KWI, on substantially the same commercial terms as the existing licence arrangements, and until a date no earlier than 1 February 2028, subject to receipt of requisite regulatory approvals,' the filing added. In January, the board of directors of Hindustan Unilever approved the demerger of its ice cream business, KWI, into an independent listed entity. At the time, the company had also stated that under the scheme, one equity share of KWI would be allotted for every one equity share held in Hindustan Unilever. Upon demerger and listing, the entire shareholding of KWI will be held directly by HUL shareholders.
The Star
23-04-2025
- Politics
- The Star
Jokowi to attend Pope Francis' funeral on Prabowo's behalf
Then-defence minister Prabowo Subianto (left) greets Pope Francis (centre), as seen by then-president Joko 'Jokowi' Widodo (right) during a ceremonial welcome for the pontiff at the Presidential Palace in Jakarta on Sept. 4, 2024. - Photo: AFP file JAKARTA: Former president Joko 'Jokowi' Widodo will be among officials appointed to attend the funeral of Pope Francis in Rome this weekend, an event which is expected to be attended by dozens of world leaders. State Secretary Prasetyo Hadi said President Prabowo Subianto had appointed several figures to represent him and Indonesia in attending the funeral procession, scheduled for Saturday (April 26). He previously said that the President cannot attend the funeral because of 'one thing or another'. The representatives are Jokowi, First Deputy Finance Minister Thomas Djiwandono, former transportation minister Ignasius Jonan who headed the Bishop's Conference of Indonesia (KWI) special committee for the papal visit to Jakarta last year as well as Human Rights Minister Natalius Pigai. 'We hope that these figures can represent our nation in offering condolences,' Prasetyo told reporters on Wednesday (April 23). He added that the representatives are expected to depart for Vatican City on Thursday or Friday, at the latest. Pope Francis died on Monday morning, aged 88, after suffering a stroke and cardiac arrest at the papal residence. The late Argentinian pontiff previously suffered from months of declining health caused by acute respiratory failure and double pneumonia. Following his death, President Prabowo expressed his condolences in a recorded statement, saying that the world had lost 'a role model deeply committed to peace, humanity and brotherhood'. The President also posted two pictures of him shaking hands with Francis when the pontiff visited Jakarta in September 2024, adding that the pope 'left a deep impression not just on Catholics, but all Indonesians'. Pope Francis' Jakarta trip included visiting the Istiqlal Mosque, the largest mosque in Southeast Asia, and leading a Mass at the Gelora Bung Karno Stadium in Central Jakarta, which was attended by more than 80,000 Catholics from around the country. The Jakarta Cathedral is slated to hold a requiem Mass for the late pope on Thursday. The late pope's funeral will be held on Saturday, as decided by cardinals meeting in a so-called 'general congregation', the first of a series of meetings which will culminate in a conclave within three weeks, where a new pope will be elected, AFP reported. The procession will take place at 10am in the plaza in front of St. Peter's Basilica at the Vatican. Francis' coffin will then be taken inside the church, and from there to Rome's papal basilica of St. Maria Maggiore for burial. Several world leaders are expected to attend the funeral, including United States President Donald Trump, who was among the first to confirm his attendance, the United Kingdom's Prince William and Ukrainian President Volodymyr Zelensky. - The Jakarta Post/ANN
