Mon, Jun 17, 2024 8:05 PM
Upper Circuit Stock: Bondada Engineering Bagged Order
A Flip by Riya Sharma
The Bombay High Court has ordered Subhash Chandra, chairman emeritus of Zee Entertainment, to furnish documents to the Securities and Exchange Board of India (Sebi) in a fund diversion case, allegedly involving ₹200 crore in related party transactions. Chandra had challenged Sebi's summons, claiming they were biased and unfair, but the court ruled he must respond to the latest summons.
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FIH Mauritius Investments Ltd, which currently holds a 49.72% stake in the Thrissur, Kerala-based CSB Bank, is likely to sell 9.72 percent stake via block deal, sources told CNBC-Awaaz on June 26.FIH Mauritius Investments is likely to raise 595 crore through block deal at floor price of Rs 352.4 per share, which implies 1 percent discount from current market price.
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Tesla's stock has skyrocketed 1,150% in five years, but currently sits 55% below its peak. With 2023 revenue of $97 billion, Tesla has become a leader in the EV industry, possessing a strong brand and cost advantages. However, the company is facing fierce competition, and its sales have slowed, leading to price cuts and margin hits. Despite a 55% drop in shares, Tesla still trades expensvely.
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