Vikas Lifecare to Acquire 50 Percent Stake in UAE-based Entity

Vikas Lifecare to Purchase 50 % Stake in UAE-based Entity

Among the many Sensex corporations, HDFC Financial institution, NTPC, Asian Paints, Energy Grid, Titan, IndusInd Financial institution, Nestle and Maruti have been the foremost laggards.

Vikas Lifecare to Acquire 50 Percent Stake in UAE-based Entity | Check Details Here
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Inventory Market Information: Vikas Lifecare Ltd (VLL) on Thursday stated that the corporate will purchase a 50 per cent stake in UAE-based Portfolio Managing Occasions LLC for Rs 100 crore. The acquisition of this homegrown firm will make means for the corporate to discover new alternatives within the leisure and occasion organising business, based on a regulatory submitting.

Vikas Lifecare recycles plastic waste to fabricate pallets and interlocking tiles for industrial purposes.

“VLL will buyout the 50 per cent fairness of PME Leisure from its present shareholders via a share swap deal, negotiated on the enterprise worth of Rs 2,010 million,” the corporate stated.

“VLL shall be investing in extra of Rs 1 billion for acquisition,” it added.

In the meantime, benchmark indices Sensex and Nifty fell for the third day working on Thursday, dragged by steady promoting in HDFC Financial institution and profit-taking in shopper durables and utility shares.

The 30-share BSE Sensex fell by 313.90 factors or 0.44 per cent to settle at 71,186.86. In the course of the day, it tanked 835.26 factors or 1.16 per cent to 70,665.50.

The Nifty declined 109.70 factors or 0.51 per cent to 21,462.25. In the course of the day, it plunged 286.4 factors or 1.32 per cent to 21,285.55.

The heavy fall within the markets comes on the again of a latest record-breaking rally. The BSE benchmark hit an all-time excessive of 73,427.59 on Tuesday, and the Nifty additionally reached its lifetime peak of twenty-two,124.15 the identical day.

Among the many Sensex corporations, HDFC Financial institution, NTPC, Asian Paints, Energy Grid, Titan, IndusInd Financial institution, Nestle and Maruti have been the foremost laggards.

HDFC Financial institution fell over 3 per cent, extending its earlier days’ large fall, after the corporate’s December quarter earnings did not impress buyers. The non-public lender alone contributed 305 factors to the autumn.

Overseas Institutional Traders (FIIs) offloaded equities price Rs 10,578.13 crore on Wednesday, based on change information.

On Wednesday, the BSE benchmark plunged 1,628.01 factors, or 2.23 per cent, to settle at 71,500.76. The Nifty tanked 460.35 factors or 2.09 per cent to settle at 21,571.95.



Rajesh

Meet Rajesh, our astute reporter dedicated to delivering daily insights into the dynamic world of business. With a keen understanding of market trends and a passion for unraveling the complexities of commerce, Rajesh brings you the latest in the business landscape.

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