Thu, Apr 18, 2024 1:16 PM
Mastek share price jumps 20% on bagging supplier spot in UK's Defence
A Flip by Shubhangi Gupta
NCLAT has started hearing a plea by YEIDA challenging an NCLT’s order in an insolvency resolution submitted by Suraksha Group that won the bid to take over debt-ridden Jaypee Infratech Limited in March last year. The NCLT, while approving the Mumbai-based firm’s bid to take over JIL, had rejected YEIDA’s claim regarding the payment of additional compensation of Rs 1,689 crore to 10,000 farmers.
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The FirstCry IPO will see Ratan Tata selling all his 77,900 shares in the company. Tata had bought 0.02% in preference shares at a price of Rs 84.72 a share, amounting to an investment of around Rs 66 lakh. Besides Tata, SoftBank will sell 20.3 million shares — the highest among all existing investors — while Mahindra & Mahindra (M&M) plans to sell 2.8 million.
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Services sector raced ahead in company registrations in the just-ended financial year, reflecting the rapid formalization of a segment with few entry barriers. While services accounted for 71% of the 185,300-plus new companies registered in FY24, industry made up less than a fourth, while the farm sector accounted for about 6%.
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