Stocks in news: Wipro, Motilal Oswal, Jana SFB, Force Motors, Tech Mahindra
Sanjay Kumar Bohra resigns as CFO of Force Motors with effect from June 9. The company appointed Rishi Luharuka as the new CFO with effect from June 10.
Markets opened positively, building on Friday's gains. Wipro's promoter sold shares worth ₹5,057 crore, while Motilal Oswal faced a Sebi fine. Jana SFB applied to become a universal bank. Tech Mahindra's Americas President retired, and Force Motors saw a CFO change as well. AstraZeneca Pharma India also announced MD's resignation.
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Markets began the week on a positive note, gaining nearly half a percent, extending Friday's rally. In today's trade, shares of Wipro Motilal Oswal , Jana SFB, Force Motors Tech Mahindra among others will be in focus due to various news developments.Wipro's promoter entity Azim Premji Trust sold 20.23 crore shares worth Rs 5,057 crore in the company via a block deal.Capital market regulator Sebi slapped a Rs 3 lakh fine on brokerage firm Motilal Oswal Financial Services (MOFSL) after finding the company in contravention of rules. Jana Small Finance Bank (Jana SFB) said it has formally submitted an application to the Reserve Bank of India (RBI) seeking approval to transition into a universal bank.IRB Infrastructure reported a 9% YoY rise in its toll revenue to ₹581 crore in May 2025.Capri Global launched a qualified institutional placement (QIP) to raise up to Rs 2,000 crore including upsize option of Rs 500 crore, according to a report.Lakshmanan Chidambaram announced his retirement as the President, Tech Mahindra Americas – strategic vertical business with effect from June 30.Pankaj Gupta resigned as the chief executive officer - Commercial Real Estate division of the company with effect from June 9.AstraZeneca Pharma said its Managing Director Sanjeev Kumar Panchal has resigned from his position with effect from the close of business on June 30.Sanjay Kumar Bohra resigns as CFO of Force Motors with effect from June 9. The company appointed Rishi Luharuka as the new CFO with effect from June 10.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
30 minutes ago
- Time of India
K'taka Bank MD & exec director quit
MUMBAI: Karnataka Bank on Saturday saw both its MD & CEO, Srikrishnan Hari Hara Sarma, and executive director, Sekhar Rao, resign, marking a major leadership shake-up for the century-old private lender. To maintain operational stability during the transition, the board appointed Raghavendra Srinivas Bhat as COO, effective July 2. The leadership exits come after a year of growing strain within the bank. Governance tensions came to a head in May when the bank's auditors flagged certain overlimit expenses. The board refused to ratify the expenditures and asked for the amounts to be recovered. The standoff between the board and management that followed was considered unprecedented for the institution. Adding to the pressure, Karnataka Bank in Feb had to reverse Rs 18.87 crore worth of suspicious cross-border UPI transactions due to reconciliation failures. A forensic audit was ordered in April at the direction of the board and the RBI. The bank has since stated that the audit observations have been amicably resolved and that it remains well-capitalised. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
36 minutes ago
- Time of India
Torrent in Rs 18,000 crore deal, 2nd largest in pharma sector
NEW DELHI: Torrent Pharma will acquire a controlling stake in JB Chemicals & Pharmaceuticals (JB Chem) in a deal size of around Rs 18,000 crore, including an open offer. This is the second largest deal in pharma space after Sun Pharma's $4 billion acquisition of Ranbaxy over a decade back. Tired of too many ads? go ad free now The deal will create India's second most valued pharma company (after Sun Pharma), with a revenue of over Rs 15,000 crore, and will be ranked among the top five pharma players. The transaction in the first phase includes Torrent Pharma's acquisition of 46.4% stake in JB Chem from US PE major KKR for nearly Rs 11,917 crore, which will be followed by an open offer of up to 26% from public shareholders. The equity valuation of JB Chem is Rs 25,689 crore, while its market cap is Rs 28,000 crore. As per the agreement signed between the two on Sunday, Torrent Pharma is acquiring KKR's stake in JB Chem at Rs 1,600 per share, while the open offer is at Rs 1,639 per share. The deal price is at nearly 9% discount to JB Chem's closing price of Rs 1,800 on June 27. KKR's stake in the company is held through its subsidiary Tau Investment Holdings. In the second phase, Torrent and JB Pharma will be merged through a scheme of arrangement under which every shareholder holding 100 shares in JB Pharma shall receive 51 shares of Torrent. TOI in its June 28 edition had reported the deal value of around Rs 20,000 crore. About five years back, the PE major had acquired 54% in JB Chem from the promoters, the Mody family, for approximately Rs 3,100 crore, or Rs 745 per share. In March this year, KKR divested about 7% stake through block deals. The PE major has been seeking to exit its investment in JB Chem for some time and had initiated the process last year. However, negotiations with the potential bidders were stalled due to valuation concerns. In addition, Torrent is also expected to acquire up to 2.8% of equity shares from certain employees of JB Pharma at Rs 1,600 per share. The deal and merger scheme are subject to standard requisite statutory and regulatory approvals.
Time of India
36 minutes ago
- Time of India
Fruit growers suffer losses as prices continues to crash
Mysuru: The first half of 2025 was bitter for fruit growers. After mango and jackfruit, now Indian black plum (nerale hannu) and pomegranate growers are in tears due to a price crash in the market. The prices of mangoes continued to fall, with rates of most varieties now below Rs 100. The prices of Indian black plum, which were between Rs 200 and Rs 400 last year, crashed to Rs 100 per kg in the city market. A kilogram of pomegranate is available for Rs 60 to Rs 100, which was never below Rs 150 per kg in the previous years. According to Baburao, a black plum grower from HD Kote, due to its health benefits, the fruit was giving bumper profits for the growers in previous years. "Last year, it reached up to Rs 400 per kilogram. Every fruit was like a piece of gold. This year, there is no demand at all. The traders are demanding the fruit for Rs 50 to Rs 60 at the plantation," he said. "That is why I am selling directly. Due to excess supply, there are no takers," he said, and lamented that the quality of the fruit has come down due to early rain. Meanwhile, pomegranate growers are demanding immediate govt intervention to save them. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Adidas Three Shorts With 60% Discount, Limited Stock Available Original Adidas Shop Now Undo Kaka Patil, a grower from Koppala, said he arrived to Mysuru to sell the crop as there is no demand locally. "Pomegranate never lets down the growers. But this year, we are selling it for half the price of last year," he said. Karnataka Rajya Raitha Sangha and Hasiru Sene president Badagalapura Nagendra stated that the excess supply of pomegranate from neighbouring states has resulted in a price crash. "We are raising the issue with the state govt," he said. He also stated that he is surprised by the price crash of black plum, which is used in medicines. Meanwhile, even during the end of the season, there is no reprieve for the mango growers, with prices continuing to fall. Badami and Rasapuri mango varieties are sold for Rs 40 per kg, causing a huge loss for growers.
