Latest news with #SiddhantCommercials
Time of India
a day ago
- Business
- Time of India
Reliance sells 3.6% stake in Asian Paints in Rs 7,700 crore deal
MUMBAI: Reliance Industries on Thursday said that its subsidiary, Siddhant Commercials, had sold 3.5 crore equity shares of Asian Paints on the NSE at a price of Rs 2,201 per share. The entire block of Asian Paints stock, representing 3.6 per cent of the company's equity, was purchased by SBI Mutual Fund , as revealed by a large deal disclosure on the NSE website. The block was sold for nearly Rs 7,704 crore. RIL still holds 87 lakh Asian Paints shares, as stated in disclosures to the exchanges. According to Asian Paints' shareholding pattern as of March 31, 2025, Siddhant Commercials was holding nearly 4.7 crore shares of the paints major, representing 4.9 per cent of the equity. In Thursday's weak market, RIL's stock price closed 0.6 per cent lower, while Asian Paints shares closed 0.4 per cent up. It was earlier reported that RIL bought the stake in the paints major in 2008 for about Rs 500 crore. As of March 2025, the promoters held a 52.6 per cent stake in Asian Paints, while domestic institutions held nearly 15.6 per cent and foreign institutions 12.2 per cent. Among the institutions, LIC held the biggest stake in the company, at 8.3 per cent. Two mutual funds - SBI MF at 1.5 per cent and ICICI Prudential MF at 1.2 per cent - also held small chunks in the company, as shown in disclosures on BSE. Retail investors held 11.8 per cent in the company.
Time of India
a day ago
- Business
- Time of India
Stocks in news: Torrent Power, ICICI Bank, HCL Tech, Canara Bank, RIL
Reliance Industries sells 3.50 crore equity shares of Asian Paints held by co through Siddhant Commercials at Rs 2,201 per share. Markets faced pressure on the weekly expiry day, declining over a percent after consolidation. Several companies are in focus, including Genus Power, potentially selling a 5.88% stake, and DCM Shriram, acquiring Hindusthan Specialty Chemicals. Jubilant Group promoters plan to sell stakes in listed companies, while CSB Bank's CEO gets a reappointment. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Markets came under pressure on the weekly expiry day and lost over a percent, following a brief phase of consolidation. In today's trade, shares of Torrent Power Canara Bank , RIL among others will be in focus due to various news Affiliate Chiswick Investment Pte likely to sell 5.88% stake of Genus Power through block deals, according to a Shriram announced that its board has approved the acquisition of 100% stake in Hindusthan Specialty Chemicals .The Bhartia family — promoters of the Jubilant Group — is planning to sell small stakes in its listed companies through block deals, according to a sector bank CSB Bank announced that the Reserve Bank has approved the reappointment of Pralay Mondal as managing director and CEO of the bank for a further period of three Torrent Power said its wholly-owned subsidiary, Torrent Green Energy, has secured a 300 MW wind power project from the Solar Energy Corporation of India (SECI).ICICI Bank said RBI approved the reappointment of Rakesh Jha as executive director of the bank for 2 years with effect from September luxury carmaker Volvo Cars selected HCL Tech as one of its strategic suppliers for engineering Bank board approves capital raising plan of up to Rs 9,500 crore via bonds for the financial year 2025-26. Reliance Industries sells 3.50 crore equity shares of Asian Paints held by co through Siddhant Commercials at Rs 2,201 per share.
Time of India
2 days ago
- Business
- Time of India
Reliance sells 3.6% stake in Asian Paints in Rs 7,700 crore deal
Representative image MUMBAI: Reliance Industries on Thursday said that its subsidiary, Siddhant Commercials, had sold 3.5 crore equity shares of Asian Paints on the NSE at a price of Rs 2,201 per share. The entire block of Asian Paints stock, representing 3.6 per cent of the company's equity, was purchased by SBI Mutual Fund, as revealed by a large deal disclosure on the NSE website. The block was sold for nearly Rs 7,704 crore. RIL still holds 87 lakh Asian Paints shares, as stated in disclosures to the exchanges. According to Asian Paints' shareholding pattern as of March 31, 2025, Siddhant Commercials was holding nearly 4.7 crore shares of the paints major, representing 4.9 per cent of the equity. In Thursday's weak market, RIL's stock price closed 0.6 per cent lower, while Asian Paints shares closed 0.4 per cent up. It was earlier reported that RIL bought the stake in the paints major in 2008 for about Rs 500 crore. As of March 2025, the promoters held a 52.6 per cent stake in Asian Paints, while domestic institutions held nearly 15.6 per cent and foreign institutions 12.2 per cent. Among the institutions, LIC held the biggest stake in the company, at 8.3 per cent. Two mutual funds - SBI MF at 1.5 per cent and ICICI Prudential MF at 1.2 per cent - also held small chunks in the company, as shown in disclosures on BSE. Retail investors held 11.8 per cent in the company. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Bloomberg
2 days ago
- Business
- Bloomberg
Reliance Industries Divests Asian Paints Stake for $900 Million
Reliance Industries Ltd. divested about 3.7% stake in Asian Paints Ltd. by selling shares in a block trade, raising 77 billion rupees ($900 million), according to an exchange filing on Thursday. The company, which owned stake in the country's biggest paint-maker through unit Siddhant Commercials Ltd., said it sold 35 million shares at 2,201 rupees apiece. It continues to own 8.7 million shares in Asian Paints.
