Religare – Page 15 – India Insurance News

Burman family raises stake in Religare Enterprises to 25%

New Delhi, Jan 31 (IANS) The Burman family has increased its stake to 25 per cent in Religare Enterprises.Advertising Advertising”We are happy to inform that we have increased our stake to 25.18 per cent in Religare Enterprises Limited (REL). We reiterate our commitment towards the acquisition of REL. We now eagerly await the remaining approvals necessary to consummate the open offer and look forward to co-operation from the REL Board,” Mohit Burman, member, Burman…
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Source: https://m.sakshipost.com/amp/news/burman-family-raises-stake-religare-enterprises-25-269951

Burman family hikes Religare stake to over 25%, increases grip on company

The Burman family of Dabur already the single largest shareholder in shadow bank Religare Enterprises Limited (REL), has further consolidated their position in the company even as the incumbent board of directors, led chairperson Rashmi Saluja, are opposing their efforts to take control. The Burman family today hiked their stake by around 4% in the company taking their cumulative stake in REL to 25.1% from 21.25% said people aware. The stake hike was done through open market purchases on…
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Source: https://m.economictimes.com/news/company/corporate-trends/burman-family-hikes-religare-stake-to-over-25-increases-grip-on-co/amp_articleshow/107289404.cms

Marico Share Price Target 2024: Religare Broking Bullish on stock – Know reason

The brokerage firm believes management to continue with its strategy of innovating products, investing behind its brands, focusing on product mix and scaling its foods and digital first portfolio and benefit from moderating raw material prices. Subscribe for latest updates Unsubscribe for latest updates Marico Share Price Target 2024: The brokerage firm Religare Broking is bullish on Marico stock and has maintained the Buy rating with a target price of Rs 666 following their results for…
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Source: https://www.etnownews.com/markets/marico-share-price-target-2024-religare-broking-bullish-on-stock-know-reason-article-107259879/amp

Religare: CCI nod for Religare stake buy deal without prejudice: Legal expert

The Competition Commission has cleared without prejudice the additional stake purchase by the Burman family entities in Religare, and if it is found later that any material information was omitted, then the regulator has the power to revoke the approval order, according to a legal expert.
The approval came against the backdrop of the intense feud between Religare Enterprises and the Burman family over taking control of the company.
On Tuesday, the Competition Commission of India (CCI)…
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Source: https://b2bchief.com/religare-cci-nod-for-religare-stake-buy-deal-without-prejudice-legal-expert/

SBI removes ‘fraud’ tag from Religare Finvest

Mumbai: The State Bank of India (SBI) has formally removed the ‘fraud’ tag from Religare Finvest Ltd (RFL), following a Delhi High Court order from December, in a move that could pave the way for the non-bank financier to resume lending.

RFL, a wholly-owned subsidiary of Religare Enterprises Ltd…
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Source: https://www.livemint.com/companies/news/sbi-removes-fraud-tag-from-religare-finvest/amp-11706274657893.html

ED Searches 3 Premises of Essel Group Companies in Rs150 Crore Religare Finvest Funds Diversion Case

The enforcement directorate (ED) on Thursday conducted search operations at three premises in Mumbai belonging to six companies from the Essel group and its former senior officials. The search operations were carried out in the matter of siphoning off or diverting Rs150 crore from Religare Finvest Ltd (RFL), a non-banking finance company (NBFC), from the Religare group. In a release, ED says, “The premises covered during the search operation belong to Konti Infrapower & Multiventures Pvt…
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Source: https://www.moneylife.in/article/ed-searches-3-premises-of-essel-group-companies-in-rs150-crore-religare-finvest-funds-diversion-case/73226.html

Sentiment Still Eluding Religare Enterprises Limited (NSE:RELIGARE)

There wouldn’t be many who think Religare Enterprises Limited’s (NSE:RELIGARE) price-to-sales (or “P/S”) ratio of 1.4x is worth a mention when the median P/S for the Insurance industry in India is similar at about 1.3x. While this might not raise any eyebrows, if the P/S ratio is not justified investors could be missing out on a potential opportunity or ignoring looming disappointment. Check out our latest analysis for Religare Enterprises NSEI:RELIGARE Price to Sales Ratio vs Industry…
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Source: https://simplywall.st/stocks/in/insurance/nse-religare/religare-enterprises-shares/news/sentiment-still-eluding-religare-enterprises-limited-nsereli/amp

Stocks To Watch: ZEEL, Coal India, Religare Enterprise, Mazagon Dock, Indus Tower – Market News

GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a subdued opening on Thursday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded up by 24.50 points or 0.11% at 21,441 indicating a subdued opening for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 gained 215.15 points or 1.01% to settle at 21,453.95, while the BSE Sensex gained 689.76 points or 0.98% to…
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Source: https://www.financialexpress.com/market/stocks-to-watch-zeel-coal-india-religare-enterprise-mazagon-dock-indus-tower-3374467/

CCI approves Fincare and AU merger, Religare share acquisition, MG Motor investment, Tata Electronics’ Wistron acquisition

In a series of approvals, the Competition Commission of India (CCI) on Wednesday (January 24) has given the go-ahead to several big ticket business transactions.The merger combines AU’s extensive banking services, including deposits, loans, and digital banking, with Fincare’s offerings in deposit services, lending, and digital banking.Religare share acquisitionPuran Associates Private Ltd, MB Finmart Private Ltd, VIC Enterprises Private Ltd and Milky Investment and Trading Company have…
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Source: https://www.cnbctv18.com/business/companies/cci-approval-religare-enterprises-tata-electronics-wistron-infocomm-manufacturing-au-small-finance-bank-fincare-small-finance-bank-18882281.htm/amp

CCI approves stake buy in Religare Enterprises by Burman family companies

The Competition Commission of India (CCI) on Tuesday cleared proposals involving stake acquisitions in Religare Enterprises (REL) by four entities controlled by the Burman family members.The CCI said Puran Associates, MB Finmart, VIC Enterprises and Milky Investment & Trading Company, which jointly hold 21.25% of REL, have proposed to acquire a majority shareholding of up to 53.94% (assuming full acceptance in the open offer process by the public shareholders), and collectively exercise…
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Source: https://m.economictimes.com/industry/banking/finance/cci-approves-stake-buy-in-religare-enterprises-by-burman-family-companies/amp_articleshow/107092831.cms