Karur Vysya Bank enters into
Bancassurance agreement
The bank has entered into Bancassurance
agreement with Max Bupa Health Insurance for distributing retail and group
health insurance products to suit the needs of KVB customers.
Bharat Forge stock gains after picking
strategic stake in UKs Tevva Motors
The company has entered into an investment
agreement with Tevva Motor, Bharat Forge International, UK and existing
shareholders of Tevva.
Pursuant to agreement, the company has
acquired 34.53% and Bharat Forge International, UK, a wholly owned subsidiary
of company, has acquired 0.73% stake in Tevva, aggregating to combined stake of
35.26%.
Dish TV stock rises after block deal
Shares of Dish TV India Ltd are currently
trading at Rs74.50 up by Rs1.85 or 2.55% from its previous closing of Rs72.65
on the BSE. About 41 million shares changed hands in six block deals in today’s
trade. The stock has erased three day’s losses and gained after block deal.
The scrip opened at Rs73.80 and has
touched a high and low of Rs76.35 and Rs71.25 respectively.
RIL completes acquisition of 73% stake
in AI firm Embibe
Pursuant to the definitive agreements
executed by Reliance Industries (RIL) to acquire majority shareholding from
existing investors of Indiavidual Learning Pvt Ltd (Embibe), a leading AI-based
education platform leveraging data analytics to deliver personalized learning
outcomes to each student, RIL, Embibe and the other stakeholders have completed
all the closing conditions and have successfully completed the sale and
purchase of the shareholding of the existing investors in Embibe to RIL.
With this transaction, RIL will hold 73%
(on fully diluted basis) in Embibe. The founder and CEO of Embibe, Aditi
Avasthi will continue in her leadership role and will drive the growth of the
business.
TCS stock rises 2% after buyback plan
Tata Consultancy Services Tata Consultancy
Services Ltd is currently trading at Rs1,812.90 up by Rs31.9 or 1.79% from its
previous closing of Rs1,781 on the BSE.
The Board of Tata Consultancy Services
will consider a proposal for buyback of equity shares of the company, at its
meeting to be held on June 15, 2018.
However, the company did not disclose any
further details about the buyback proposal.
On last year, the IT company had
undertaken a Rs16, 000cr mega buyback offer, entailing 5.61cr shares at a price
of Rs2, 850 per equity share.
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