Maithan Alloys acquires minority stake in GAIL (India) for Rs 12 cr
The company has acquired 6,25,000 shares through stock exchange with view to reap the long-term/short-term investment benefits.
The company clarified that it do not intend to acquire control whether directly or indirectly of the management of GAIL (India).
Maithan Alloys is primarily engaged in the business of manufacturing and exploring of all three bulk ferro alloys- ferro manganese, silico manganese and ferro silicon. It is also engaged in the generation and supply of wind power and has a captive power plant.
GAIL (lndia) is the largest state-owned natural gas processing and distribution company in the country. It has a diversified business portfolio and has interests in the sourcing and trading of natural gas, production of LPG, liquid hydrocarbons and petrochemicals, transmission of natural gas and LPG through pipelines, etc. Its turnover was Rs 1,37,288 crore in FY25.
Shares of Maithan Allloys shed 0.34% to settle at Rs 1,207.05 while GAIL (India) declined 4% to end at Rs 192.10 on the BSE.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
20 minutes ago
- India.com
While Gen Z Hustles, This 21-Month-Old Earns Rs 10,65,00,000 From….; Is Youngest Investor Of THIS Company—He Is….
photoDetails english Updated:Aug 03, 2025, 07:08 PM IST This Toddler Bags ₹10.65 Crore 1 / 8 While most Gen Zers are busy juggling side hustles and first jobs, a 21-month-old toddler has already earned a whopping Rs 10.65 crore—all without lifting a finger. Meet Ekagrah Rohan Murty, the youngest member of the Murthy family, who's quietly making headlines as one of India's youngest dividend millionaires. Meet Ekagrah—India's Youngest Dividend Millionaire 2 / 8 Ekagrah was born in November 2023 in Bengaluru to Rohan Murthy and Aparna Krishnan. He is the grandson of Infosys co-founder Narayana Murthy and acclaimed author-philanthropist Sudha Murty. Despite being just a toddler, he's already made more money in dividends than many adults earn in a lifetime. Gifted 15 Lakh Infosys Shares As A Baby 3 / 8 When Ekagrah was only four months old, his grandfather gifted him 15 lakh Infosys shares, amounting to a 0.04 per cent stake in the company. At the time of the transfer, the shares were valued at over Rs 240 crore—instantly making him one of the youngest shareholders of a major Indian tech company. Rs 10.65 Crore Earned From Dividends Alone 4 / 8 In the financial year ending March 2025, Infosys announced three dividend payouts totaling Rs 49 per share. Ekagrah earned Rs 7.35 crore through interim dividends and another Rs 3.3 crore through the final dividend—bringing his total dividend income to Rs 10.65 crore. Infosys Dividend Bonanza 5 / 8 Even with a modest-sounding 0.04 per cent stake, Ekagrah's shareholding earned him crores in just one financial year. Infosys' consistent dividend performance shows how powerful equity ownership can be, especially when started early—even from infancy. Part Of A Powerhouse Legacy 6 / 8 Ekagrah is the third grandchild of Narayana and Sudha Murty. His cousins, Krishna and Anoushka, are the daughters of Akshata Murty and UK Prime Minister Rishi Sunak. With such a remarkable family legacy, it's no surprise that even the youngest generation is already making financial headlines. Murthy Family's Dividend Earnings This Year 7 / 8 The latest dividend payout also brought in massive gains for other Murthy family members. Akshata Murty, who holds a 1.04 per cent stake in Infosys, earned Rs 85.71 crore. Narayana Murthy received Rs 33.3 crore, while Sudha Murty pocketed Rs 76 crore. Clearly, Infosys continues to reward its founding family generously. A Financial Head Start Like No Other 8 / 8 At just 21 months old, Ekagrah already has a head start in life that most people can only dream of. With Rs 10.65 crore in dividend earnings and equity worth hundreds of crores, he is not only India's youngest investor—but possibly one of its most fortunate as well.
Economic Times
an hour ago
- Economic Times
Bengaluru: PM Modi to open long-awaited Yellow Line on Aug 10 easing commute to tech hubs
Prime Minister Narendra Modi will open the long-delayed Yellow Line Metro on August 10, connecting Rashtriya Vidhayala Road in South Bengaluru to Bommasandra on the east with 16 stations. The line is expected to ease the stress for thousands of technology workers who have been commuting to Electronic City and other nearby industrial hubs with work from office (WfO) now being a norm at many companies. Infosys and Biocon have funded Konappana Agrahara and Hebbagodi stations. Built at a cost of ?5,057 crore, the Yellow Line is expected to significantly ease congestion at the Silk Board junction and provide a faster, reliable alternative to the heavily trafficked Hosur Road. As per reports and experts, the metro will cut daily commute times by up to 60% on the Silk Board and Outer Ring Road (ORR) stretch. The 19.15 km line is expected to benefit nearly eight lakh daily commuters, especially those living in South Bengaluru and working in thousands of companies, both big and small, on either side of Hosur road. The major tech hub of Electronic City, a 902-acre industrial township is home to more than 300 companies including Infosys, TCS, Wipro, Tech Mahindra, and Siemens. Union Housing and Urban Affairs Minister Manoharlal Khattar said the PM will also lay the foundation stone of 44.65 km of Bangalore phase-3 at the cost of Rs 15,611 Crore. The Bengaluru Metro's Phase 3, also called the Orange Line, was approved by the Modi government in the first 100 days of coming back to power. The new line will expand the city's metro network by adding 44.65 km, including 31 stations in two phases. The orange line is expected to be completed by 202,9, covering Magadi Road to ORR, which houses many Fortune 500 companies and global capability centres (GCCs).Bengaluru South MP Tejasvi Surya (BJP) said that together, these projects will benefit nearly 25 lakh people in Bengaluru South. 'With nearly 20,000 worth of Metro infrastructure dedicated to this region alone, we are incredibly grateful to PM Modi for his continued focus, affection, and commitment to Bengaluru South's public transport infrastructure,' he per officials, three driverless trains will be made operational every 25 minutes on the stretch. As per the employee commute platform MoveInSync's Half-Yearly Report, Bengaluru's average one-way commute time has jumped 16% in just one year. From 54 minutes in 2024, today it takes 63 minutes to travel an average distance of 19km in the city.
Time of India
an hour ago
- Time of India
Revised collector rates in Haryana spark backlash
Chandigarh: As the govt is showing no signs of a rollback in the revised collector rates, the revenue generation move has boomeranged into a major political and public issue across the state. With an eye on additional revenue generation of Rs 5,000 crore through stamp duty, the revenue and disaster management department reportedly revised the collector rates – increase varying from 30% in the low potential areas to over 150% in the high and hyper potential areas of the NCR and Panchkula. According to information, the rates were revised for the second time in a year. The revision came in line with the revision of levies on building material like sand, gravel, and steel, which further impacted the cost of construction. "It's nothing but the poor fiscal management of the successive chief ministers since 2014 that is to be blamed. Now, during the current tenure, the financial resources are draining out, and the common man is burdened to cover up the losses. This revision of collector rates appears to be an attempt to cover up the losses suffered by the govt on account of anticipated revenue loss due to various auctions of liquor vends," claimed Rajya Sabha MP and senior Congress leader Randeep Singh Surjewala. In the last eight months, the rates have been revised for the second time, that too without holding any survey, discussion with the stakeholders, and without any justification, said Surjewala. The builders and developers fear that the increase in collector rates would bring market activities to a standstill as it would force buyers to look for alternatives. "Firstly, there is hardly any land available in high and hyper zones of the NCR and Panchkula. Whatever land is available will become out of reach for commoners or small developers or builders. In such a case, people shall opt for unauthorised colonies. Hence, the govt should roll back the collector rates with immediate effect," said a developer. A property dealer claimed that the govt did not call for objections or give appropriate time for implementation of revised rates. "The buyers who have made financial arrangements in accordance with old rates are in a fix, as the govt has not given any window for them as well. In most cases, deals mature within one to three months," said a property dealer. On Saturday, the govt admitted some increase but clarified that it was almost negligible and there could be some places where the increase was to the effect of 25%. The govt also justified the revision due to the consistent demand of farmers who sought a revision of collector rates for the purpose of compensation for land acquisition. MSID:: 123076409 413 | Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
