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New Delhi, May 22 () Tata Power on Friday sought shareholders' approval for raising its authorised share capital by Rs 200 crore to Rs 779 crore. The company has proposed to increase its authorised share capital from Rs 579 crore (divided into 350 crore equity shares of Re 1 each and 2.29 crore cumulative redeemable preference shares of Rs 100 each) to Rs 779 crore by creation of 200 crore equity shares of face value of Re 1 each, it said in a regulatory filing. The company has also proposed to amend its Memorandum of Association to give effect to increase in its share capital. Giving reasons for seeking increase in share capital, it said, "The Company is working on a long term strategic plan focused on strengthening the balance sheet and to improve its overall return metrics." The plan includes divestment of certain investments and restructuring of some of its businesses to unlock value. Implementation of these plans and consequent strengthening of the balance sheet is expected to provide a strong platform for the company to participate in emerging opportunities in the power sector, it said. In order to ensure that the company is adequately capitalised, it is proposed to increase the authorised share capital to Rs 779 crore, it added. KKS ABM

Tata Power seeks shareholders' nod to raise authorised share capital

What is the role of <keyword id="808508" type="UNKNOWN" weightage="80" keywordseo="Corporations">corporations</keyword> in society? The question has had distinct kinds of responses from varied thinkers. At one end of the spectrum are those, who believe that the role of a corporation is simply to make more profits and thereby maximize shareholder value. 
 
However, this view has taken a serious hit in the aftermath of the global financial crisis. It is because, some thinkers have argued that the 'Shareholder Wealth Maximizing' paradigm needs to be replaced with a more robust understanding of the role of corporations in society. It starts with accepting the role of corporations in society as that of being institutions that produce goods and services that people value and this forms the basis of shareholder value maximization. 
 A new sort of paradigm is thus emerging that focuses on reassessing the role of corporations in society. The paradigm is called 'Creating <keyword id="2875288" type="UNKNOWN" weightage="80" keywordseo="shared-value">Shared Value</keyword> (CSV).' It focuses on bringing together the distinct fields of strategy and society and link the competitive advantage of a firm to its corporate social responsibility. 
 
Often a question arises as to how creating shared value is different of distinct from Corporate Social Responsibility (CSR). CSR aims at giving back to society while CSV aims at co-creating value for society and business. Similarly, the focus of CSV is not just donating money or doing some activities that are distinct from business practices of the corporation but realigning business activities to create societal and economic value. 
 
The idea is that CSV endeavors to alter the role of corporations in a society. It means understanding that corporations operate within the broader construct of society and that whatever is detrimental to society cannot be the basis of sustainable competitive advantage for the corporation/enterprise. Similarly, whatever is good for the societies is good for corporations. Creation of shared value essentially involves the following three principles: 
 
First, businesses/corporations should essentially try to meet the unmet needs of a society. An example is Internet access to people in India. There is an unmet societal need, i.e., access to information. Businesses had tapped into this need and (basically device manufacturers and internet service providers) have co-created immense value by serving the poor at the same time earning revenues. 
 The second way of creating shared value is by redefining productivity along the <keyword id="1195806" type="UNKNOWN" weightage="80" keywordseo="value-chain">value chain</keyword> and reducing risks. An example could be that of <keyword id="45528" type="CITY" weightage="80" keywordseo="GE">GE</keyword> altering its business products to be more efficient and thereby reducing carbon emissions and environmental footprint. Productivity should be looked at and measured not only in value terms but also in ecological and societal terms. 
 A third way of creating shared value is by enabling local cluster development. It means corporations can <keyword id="47916" type="UNKNOWN" weightage="80" keywordseo="invest">invest</keyword> in developing skills through training with their suppliers in clusters. An example could be the strong automotive clusters that were enabled in specific parts of India because of firms helping the ancillary units in their vicinity. 
 CSV is also related to another emerging area of social business and social entrepreneurship. It's understanding helps businesses/companies alter their business models and focus on models that create not just profit but do well to serve societies' needs and remove businesses' adverse environmental impact. These often include underserved as well as the bottom of pyramid markets where businesses create value and serve societies needs. An example could be Hindustan <keyword id="45009" type="CITY" weightage="80" keywordseo="Unilever">Unilever</keyword>'s Sustainable Living Program. Under the program, the company has undertaken initiatives like Project Shakti, whereby rural women, as well as the company, have benefitted immensely. In the program, the rural women are empowered by basic training in running a business. They then go to explain the benefits and do the sales and distribution of the products of the corporation. This way HUL earns revenue as well as provides means of livelihood to approximately 70,000 women entrepreneurs. 
 
The idea has gained significant momentum in the past few years since its inception within the corporations and policymakers. Clearly it is good for the people and societies to interact with corporations to co-create value that is sustainable. The next big evolutionary change for corporations in India will be in realigning their business models to societal needs. It not just appeals to common sense, but is also a remarkably sound business strategy. In light of this an initiative has been launched in India called Shared Value Initiative India (<a href="http://www.sharedvalue.in/">http://www.sharedvalue.in</a>) that aspires to connect the business and community leaders wherein they look at enhancing the economic and social progress of the nation to build a more equitable and sustainable society. 
 
(Dr. <keyword id="209438" type="PERSON" weightage="80" keywordseo="Amit-Kapoor">Amit Kapoor</keyword> is <keyword id="191828" type="POSITION" weightage="80" keywordseo="president-and-CEO">President and CEO</keyword> of India Council on Competitiveness, Honorary Chairman of <keyword id="122492" type="ORGANIZATION" weightage="80" keywordseo="Institute-for-Competitiveness">Institute for Competitiveness</keyword>, India and Chair, Shared Value Initiative India) He tweets @kautiliya and can be contacted at <a href="mailto:amit.kapoor@competitiveness.in">amit.kapoor@competitiveness.in</a>. The article is co-authored with Sankalp Sharma who is Senior Researcher at Institute for Competitiveness) 
 
(Image Courtesy: thaimarketing.in.th)

Creating Shared Value: The Next Evolutionary Form of capitalism

With a view of listing the state-run insurance major <keyword id="6368369" type="COMPANY" weightage="20" keywordseo="life-insurance-corporation-of-india">Life Insurance Corporation of India</keyword> (<keyword id="6367143" type="COMPANY" weightage="20" keywordseo="LIC">LIC</keyword>), the government has proposed to raise the authorised capital of LIC to ₹25,000 crore. As per the amendments proposed under the Finance Bill 2021, the authorised <keyword id="445210" type="PERSON" weightage="20" keywordseo="share-capital">share capital</keyword> of LIC shall be ₹25,000 crore divided into 2,500 crore shares of ₹10 each. The share capital of the <keyword id="6356315" type="COMPANY" weightage="20" keywordseo="corporation">corporation</keyword> shall consist of equity shares and preference shares, which may be fully paid-up or partly paid-up, said the Finance Bill. "The corporation may from time to time increase its issued share capital, with the previous approval of the <keyword id="6356303" type="COMPANY" weightage="20" keywordseo="Centre">Centre</keyword>, whether by public issue or rights issue or preferential allotment or private placement or issue of bonus shares to existing members holding equity shares, or by issue of shares to employees pursuant to share based employee benefits schemes, or by issue of shares to life insurance policyholders of the Corporation, or otherwise," it said. However, the central government shall at all times, not less than 51 per cent of the issued equity share capital of the corporation and for five years after the IPO, the Centre will hold not less than seventy-five per cent. The mega IPO is likely to take place around Diwali this year. Presenting the Union Budget for FY21-22, Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> had said that all the announced disinvestment processes, including the LIC IPO will be completed in the upcoming fiscal. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/check-out-all-the-hiring-opportunities-in-2021-in-india/slidelist/81343839.cms">A whole host of jobs, from government to private to foreign companies in India, are opening up ⁠— here’s a look at some of those</a> <a href="https://www.businessinsider.in/business/startups/news/these-are-the-worlds-top-food-delivery-companies-indias-zomato-and-swiggy-have-a-long-way-to-go-as-compared-to-their-global-counterparts-like-doordash-or-meituan/slidelist/81344728.cms">These are the world’s top food delivery companies – India’s Zomato and Swiggy have a long way to go as compared to their global counterparts like DoorDash or Meituan</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-has-outperformed-its-peers-in-the-last-one-year-but-analysts-are-still-cautious-about-giving-it-a-buy-rating/articleshow/81345564.cms">Wipro's share price has outperformed its peers in the last year — but analysts are still cautious about giving it a 'buy' rating</a>

Centre proposes to raise LIC's authorised capital to ₹25,000 crore

<ul><li>Mortgage lender <keyword id="45123" type="PERSON" weightage="20" keywordseo="HDFC">HDFC</keyword> on Saturday said it has acquired 6.43% stake in debt-trapped <keyword id="6360090" type="DOMAIN" weightage="20" keywordseo="reliance-capital">Reliance Capital</keyword> by invoking pledged shares. </li><li>The company acquired 25.27 crore shares of ₹10 each, it said, adding that the total value of these shares are ₹252 crore.</li></ul>Mortgage lender HDFC on Saturday said it has acquired 6.43% stake in debt-trapped <keyword id="10926" type="COMPANY" weightage="20" keywordseo="Reliance">Reliance</keyword> Capital by invoking pledged <keyword id="9119775" type="PERSON" weightage="20" keywordseo="shares-these">shares.These</keyword> shares were acquired pursuant to invocation of pledge by security trustee on behalf of the <keyword id="6356315" type="COMPANY" weightage="20" keywordseo="corporation">corporation</keyword>, which was pledged against a loan given by the lender in its normal course of business, HDFC Ltd said in a regulatory filing. Following this, the company acquired 25.27 crore shares of ₹10 each, it said, adding that the total value of these shares are ₹252 crore. It further said the requisite disclosure had already been made on March 27, and since the shares have now been credited to the account of the Corporation, the disclosure was being made once again. In early January,<a target="_blank" href="https://www.cnbctv18.com/finance/hdfc-now-owns-643-stake-in-reliance-capital-after-invoking-pledge-on-shares-5774121.htm" class="_e75a791d-denali-editor-page-rtfLink"> Reliance Capital informed stock exchanges that</a> it had defaulted on term loans of Axis Bank and HDFC. It borrowed around ₹523.98 crore from HDFC and ₹100.63 crore from Axis Bank. <div type="Article" hostid="261" msid="75371190" title="Coronavirus cases in India count crosses the 24,000 mark— with 5,062 recovered as of April 25" mstype="2" mssubtype="0"></div>

HDFC pulls in Reliance Capital's pledges to acquire 6.43% stake in the company

Startups are no more interested in wooing investors. They are now applying a new method to get funds. They are borrowing money to meet working capital needs as their eye-popping valuations are finally beginning to taper off. 
 
This is a radical departure from just a few months ago when they collected money by selling stakes to <a href="http://www.businessinsider.in/searchresult.cms?query=venture+capital+">venture capital</a> firms, hedge funds and deep-pocketed businessmen all vying for a piece of India's rapidly growing e-Commerce market. 
 Take an example of <keyword id="6368965" type="UNKNOWN" weightage="80" keywordseo="ZoomCar">Zoomcar</keyword>, a car rental company. It has borrowed Rs 12 crore in two tranches from <keyword id="2809652" type="UNKNOWN" weightage="60" keywordseo="InnoVen-Capital">Innoven Capital</keyword>, a debt venture fund, to meet its working capital needs rather than approaching investors again. It had raised equity capital worth $11 million from <keyword id="122716" type="CITY" weightage="80" keywordseo="Sequoia-Capital">Sequoia Capital</keyword> and a few other investors last year. 
 
Debt venture funds like Innoven raise money from institutional investors and lend to startups. Innoven has loaned money to established enterprises such as <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal">Snapdeal</a>, Myntra, Practo, Freecharge, <a href="http://www.businessinsider.in/searchresult.cms?query=startups+">Yatra.com</a> and Firstcry recently. 
 
Besides Zoomcar, other startups such as mobile wallet MobiKwik, memorabilia e-retailer Collectabillia, edu-tech firm Embibe, transportation venture MoveInSync, food chain Faasos and app maker AppsDaily, among others, have shifted to debt funding since April this year. 
 While entrepreneurs see venture debt as an additional source of capital, the shift points to a growing wariness among investors about startup valuations. Many investors have begun to question the sustainability of the business model of e-Commerce companies, which is centred on the idea of gaining <keyword id="34527" type="UNKNOWN" weightage="60" keywordseo="market-share">market share</keyword> at any cost often with scant regard to the possibility of making real profits. 
 "There's definitely a higher intensity of discussion around valuation these days as the fund-raising environment is showing signs of cooling off," said Vinod Murali, managing director, InnoVen Capital. Startups have taken note. Rahul Khanna, managing director, <keyword id="2694863" type="UNKNOWN" weightage="80" keywordseo="Trifecta-Capital">Trifecta Capital</keyword>, said people are expecting a correction in the valuation of startups and promoters, therefore, want to retain more capital now. "It's like buying insurance; if the next round of funding is delayed, they'll still have enough money to run the company," he said. 
 
Trifecta is the latest venture debt fund to join the likes of Innoven, Intellegrow and Capital Float, among other unorganised NBFCs, which are complementing the shift in strategy of startups. 
 
Trifecta said it has a pipeline of deals with more than 60 companies. Innoven said it has funded more than Rs 760 crore in India through 90 deals across 60 companies. 
 
This new strategy is enticing for startups. A good capital mix gives <a href="http://www.businessinsider.in/searchresult.cms?query=entrepreneurs+">entrepreneurs</a> more time to grow the business — and avoid the rat race — while a lower equity dilution allows them to retain control of their companies. 
 
In recent years, startups have raised debt of over Rs 1,500 crore, according to fund managers. There is actually a pent-up demand for debt funding, according to Khanna. 
 
Venture debt funds, which lend money to <a href="http://www.businessinsider.in/searchresult.cms?query=startups+">startups</a> at rates of 15-21% a year, are not strictly debt funds. They are structured in a way to allow the lender a minor equity participation as well. While lending money to startups, most venture debt funds demand an equity kicker, usually 1-2% of the loan. An equity kicker allows the fund to partake future profits, a right that must be exercised either during the life of the fund or the tenure of loan. 
 
(Image: Indiatimes)

Startups, tired of  chasing angel investors, are now simply borrowing money to make ends meet

<div class="image-container float_right" style="width:480px"><div class="image">REUTERS/Toby Melville<keyword id="6386585" type="CITY" weightage="60" keywordseo="Barclays">Barclays</keyword> CEO Antony Jenkins</div></div>Shares of Barclays, one of Britain's biggest banks, are down more than 7% today after the bank announced in its quarterly earnings release a new plan to fill a £12.8 billion capital shortfall in order to meet updated regulatory requirements.
The <a href="http://group.barclays.com/Satellite?blobcol=urldata&amp;blobheader=application%2Fpdf&amp;blobheadername1=Content-Disposition&amp;blobheadername2=MDT-Type&amp;blobheadervalue1=inline%3B+filename%3DBarclays-PLC-Announces-Leverage-Plan-PDF.pdf&amp;blobheadervalue2=abinary%3B+charset%3DUTF-8&amp;blobkey=id&amp;blobtable=MungoBlobs&amp;blobwhere=1330701423014&amp;ssbinary=true">plan includes</a> a £5.8 billion share offering, issuance of £2 billion in debt, and a £65-80 billion reduction of its loan book to approximately £1.5 trillion.
"If Barclays needs to raise that much capital, and it was relatively well capitalized by European standards, it suggests we've got a long way to go in Europe," the head of equities at a UK fund manager <a href="http://www.reuters.com/article/2013/07/30/us-banks-idUSBRE96T0OL20130730?feedType=RSS&amp;feedName=topNews&amp;utm_source=dlvr.it&amp;utm_medium=twitter&amp;dlvrit=992637">told Reuters</a>.

Barclays Shares Tanking After Plans To Raise Fresh Capital

New Delhi, Nov 25 () Yes Bank on Monday sold over 16 lakh shares of Reliance Capital for around Rs 3 crore through an open market transaction.
 According to bulk deal data available with the National Stock Exchange (NSE), the private sector lender sold 16,78,900 shares at an average price of Rs 16.26 apiece. This took the total transaction value to Rs 2.72 crore.
 However, the buyer of the shares could not be ascertained.
 Shares of Reliance Capital Ltd ended 0.61 per cent higher at Rs 16.40 on the NSE.
 On Friday, the private sector lender had sold more than 13 lakh shares of Reliance Capital for over Rs 2 crore through an open market transaction.
 In October, Reliance Nippon Asset Management Company had directed its trustees to sell the remaining shares pledged by Rana Kapoor, co-founder of Yes Bank, as a collateral with the mutual fund house, sources had said.
 According to a separate block deal on the BSE, Link Investment Trust and Emerald Investments Ltd together bought shares worth Rs 157 crore in Eris Lifesciences Ltd.
 The data showed that Link Investments picked up 2.44 lakh shares in the firm, while Emerald Investments bought a total of over 35.7 lakh shares, at an average price of Rs 411.5 apiece.
 This together translated into a deal amount of Rs 157.33 crore.
 The shares bought by the firms were sold by public shareholders of Eris Lifesciences, Hetal Rasiklal Shah and Bhikhalal Chimanlal Shah, among other sellers.
 On the BSE, shares of Eris Lifesciences ended at Rs 432.5 apiece, 4.41 per cent higher than the previous close. SRS HRS

Yes Bank sells over 16 lakh shares of Reliance Capital

<ul class="summary-list"><li>Citadel will redeem about a quarter of its investment in Melvin Capital.</li><li>It is unclear if the redemption will be the last from Citadel.</li><li>The Wall Street Journal first reported the <keyword id="11893589" type="UNKNOWN" weightage="60" keywordseo="news" source="Orion">news</keyword> on Saturday.</li></ul>The <keyword id="11918410" type="UNKNOWN" weightage="60" keywordseo="hedge-fund" source="Orion">hedge fund</keyword> Citadel will redeem about $500 million of the $2 billion it <a href="https://markets.businessinsider.com/news/stocks/melvin-capital-10-stocks-recoup-gamestop-losses-second-quarter-13f-2021-8">invested in Melvin Capital earlier this year</a> as the latter suffered crippling losses amid a <keyword id="11918411" type="UNKNOWN" weightage="60" keywordseo="short-squeeze" source="Orion">short squeeze</keyword>, the Wall Street Journal reported Saturday. The investment was for a non-controlling but revenue-sharing stake in the fund. Melvin Capital lost <a href="https://markets.businessinsider.com/news/stocks/melvin-capital-closes-out-public-short-positions-after-gamestop-losses-2021-5">more than half of its value,</a> over $6 billion, earlier this year as retail investors bid up the shares of what became known as "meme stocks" - firms like GameStop, AMC, and others - on which the fund had short positions. The movement was started and led by members of <a href="https://markets.businessinsider.com/news/stocks/robinhood-stock-price-social-media-mentions-reddit-wall-street-bets-2021-8">the Reddit group "r/wallstreetbets."</a>The rising share prices caused Melvin Capital to close its short positions by buying shares of the firms back, which in turn pushed their prices up further.Citadel, along with Point72, another hedge fund, stepped in to help Melvin Capital at the time. Citadel and Point72 are run by Ken Griffen and Steve Cohen, respectively.It is unclear if the redemption will be the last from Citadel. The Journal report said that Citadel plans to remain a large investor in Melvin. Melvin capital ended the first quarter down 49%.

Citadel will redeem $500 million of its shares in Melvin Capital: Report

The <keyword id="20070916" type="General" weightage="20" keywordseo="GMR-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="GMR Group" meta.hostid="261" meta.entityid="GMR Group">GMR Group</keyword>, co-owners of <keyword id="20150498" type="General" weightage="20" keywordseo="IPL-franchise" source="keywords">IPL franchise</keyword> <keyword id="19907060" type="General" weightage="20" keywordseo="Delhi-Capitals" source="keywords" meta.keywordsubtype="org" meta.entityname="Delhi Capitals" meta.hostid="261" meta.entityid="Delhi Capitals">Delhi Capitals</keyword>, has agreed to a deal with <keyword id="22638160" type="General" weightage="20" keywordseo="English-county-team" source="keywords">English county team</keyword> <keyword id="22436824" type="General" weightage="20" keywordseo="Hampshire" source="keywords" meta.keywordsubtype="org" meta.entityname="Hampshire" meta.hostid="261" meta.entityid="Hampshire">Hampshire</keyword> to buy its major shares worth 120 million pounds (approximately Rs 1278 crore). Hence, Hampshire will become the first county side to be owned by an overseas entity, as the GMR Group will now have control over 51 per cent of the team's shares. "The Delhi part-owners are understood to have beaten a second bid from rival Indian Premier League franchise Lucknow Super Giants with an offer which values Hampshire at £120 million, although that price includes the club's debts of around £60 million," the Telegraph reported. Additionally, the GMR Group will also take control of the Utilita Bowl (cricket stadium at Hampshire), the Hilton hotel and a golf course at the same venue. Apart from being the co-owners of the Capitals, the GMR Group also has equal stakes in Dubai Capitals, the ILT20 side in the UAE, and Seattle Orcas, the Major League Cricket outfit in the USA. The England and Wales Cricket Board (ECB), the Hampshire club officials and the new owners are expected to make an official announcement soon about the deal. Besides the significant investment, the take over could also open up the possibility of Hampshire gaining access to some of Delhi Capitals' young players for domestic tournaments such as the Hundred. However, at present, the Board of Control for Cricket in India (BCCI) does not permit active Indian cricketers to play in overseas tournaments. In another significant development, Yorkshire, another English county side, has reopened their talks with Rajasthan Royals for a possible takeover of the Headingley based club. However, this would require a consent from 6000 Yorkshire members through a ballot. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms" target="_blank">Ola Electric IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-plus-with-dimensity-7350-pro-chipset-launched-in-india-starting-at-29999/articleshow/112164963.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-plus-with-dimensity-7350-pro-chipset-launched-in-india-starting-at-29999/articleshow/112164963.cms" target="_blank">Nothing Phone (2a) Plus with Dimensity 7350 Pro chipset launched in India starting at ₹29,999</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-decline-by-2-in-q2-2024-xiaomi-retakes-the-throne/articleshow/112162312.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-decline-by-2-in-q2-2024-xiaomi-retakes-the-throne/articleshow/112162312.cms" target="_blank">Indian smartphone shipments decline by 2% in Q2 2024, Xiaomi retakes the throne</a>

Delhi Capitals owners agree to buy major share in Hampshire takeover

<ul><li>At 7:45 am, the SGX Nifty was up 0.26%, indicating a green start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a stronger note on Thursday, led by positive cues from the global markets. They ended at record highs on Monday, with Nifty inching closer to the 14,000 mark. At 7:45 am, the SGX Nifty was up 0.26%, indicating a green start for Nifty50. The <a href="https://www.businessinsider.in/stock-market/news/us-stocks-close-at-record-highs-as-markets-cheer-900-billion-stimulus/articleshow/80001212.cms">US stocks closed </a>at record highs on Monday as investors cheered a $900 billion stimulus package that President Donald Trump signed on Sunday. The Dow Jones Industrial Average closed 0.68% higher, and the S&amp;P 500 was up 0.87%. These are the stocks to watch out for during the trading session today: Wipro Wipro’s ₹9,500 crore share buyback will begin today (December 29) and remain open until January 11. The last date for settlement of bids on the stock exchange will be on or before January 20. Future Retail and RIL The shares of Future Retail and RIL will be in focus during the trade today. The American e-commerce giant Amazon Inc <a href="https://www.livemint.com/companies/news/amazon-asks-sebi-to-wait-for-siac-order-11609180801940.html">has asked India’s markets regulator</a> to wait for a Singapore court’s final order before clearing future group companies’ merger. Biocon Biotechnology major Biocon has launched Tacrolimus capsules, an immunosuppressant, in the US market. Tacrolimus is used in the treatment of organ transplant patients, and it reduces the body’s ability to reject a transplanted organ. Titan Titan’s board has approved to provide corporate guarantees worth ₹906 crore to various banks on behalf of Titan Commodity Trading, a wholly-owned subsidiary of the company. AU Small Finance Bank AU Small Finance Bank announced that it has partnered with the private life insurance company ICICI Prudential Life Insurance to offer need and goal-based life insurance solutions. With this arrangement, the bank said over 18 lakh customers of the bank across over 700 banking touchpoints would have easy access to the entire suite of customer-centric protection and long-term savings products of ICICI Prudential Life. Cochin Shipyard Cochin Shipyard’s board is scheduled to meet on January 4 to consider the declaration of interim dividend to the company’s equity shareholders for the financial year 2020-21. 3i Infotech IT firm 3i Infotech has entered into definitive agreements to sell its software products business to the funds advised by Apax Partners for ₹1,000 crore. The software products business will be acquired by a newly formed Azentio Software company, wholly-owned by the Apax Funds, a statement said. Reliance Capital Anil Ambani’s Reliance Group company, Reliance Capital on Monday raised objection to the proposed 33.12% stake sale of Prime Focus (PFL) by Credit Suisse to PFL’s promoter group at ₹44.15 per share. The debt-ridden firm, Reliance Capital, termed the proposed transaction as a blatant abuse of the purported rights by Credit Suisse under certain lending agreements with the RCAP Group, the company said in a statement. SBI Life Insurance The Board of Directors of SBI Life Insurance Company on December 28 approved the appointment of Shobinder Duggal as an Additional Director in the company. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/house-passes-bill-to-increase-600-stimulus-checks-to-2000/articleshow/80001571.cms" data-type="tilCustomLink">House passes bill to increase $600 stimulus checks to $2,000. It now goes to the Senate.</a> <a href="https://www.businessinsider.in/science/news/most-vaccine-skeptics-are-persuadable-and-will-get-the-covid-19-shot-says-a-nobel-prize-winner-who-studies-vaccine-hesitancy/articleshow/79995460.cms" data-type="tilCustomLink">Most vaccine skeptics are persuadable and will get the COVID-19 shot, says a Nobel prize-winner who studies vaccine hesitancy</a> <a href="https://www.businessinsider.in/stock-market/news/bitcoin-mining-stocks-surge-after-the-cryptocurrency-passes-28000-for-the-first-time/articleshow/79996286.cms" data-type="tilCustomLink">Bitcoin-mining stocks surge after the cryptocurrency passes $28,000 for the first time</a>

Top stocks to watch — Wipro, RIL, Future Retail, Reliance Capital, AU Small Finance, Biocon, Titan, and others

New Delhi, Dec 10 () Shares of Yes Bank on Tuesday fell over 10 per cent amid reports about difficulty being faced by the lender over a USD 2-billion fundraising plan.
 The stock dived 10.05 per cent to end at Rs 50.55 on the BSE. During the day, it plunged 12.27 per cent to Rs 50.55.
 On the National Stock Exchange (NSE), the company's shares tumbled 10.4 per cent to close at Rs 50.40 apiece. During the day, the stock plummeted 13.68 per cent on the NSE.
 In terms of the equity volume, 2.29 crore shares of the company were traded on the BSE and over 34.5 crore shares changed hands on the NSE during the day.
 According to reports, the bank was likely to reject the offer of the proposed capital infusion.
 However, the lender after the market hours said it shall continue to evaluate other potential investors to raise capital up to USD 2 billion.
 "The board is willing to favourably consider the offer of USD 500 million of Citax Holdings and Citax Investment Group and the final decision regarding allotment to follow in the next board meeting, subject to requisite regulatory approval(s)," it said in a regulatory filling.
 The binding offer of USD 1.2 billion submitted by Erwin Singh Braich / SPGP Holdings continues to be under discussion, it further added. SHW HRS

Yes Bank shares plunge nearly 10 pc amid capital infusion

New Delhi, Dec 11 () Shares of Yes Bank on Wednesday dived more than 15 per cent due to uncertainty over its USD 2-billion fund raising plan, extending the falling streak for the fifth straight session.
The stock opened lower on the BSE and slumped further by 19.48 per cent to Rs 40.70 ion day trade. It closed at Rs 42.80 with a loss of 15.33 per cent.
On the National Stock Exchange, the scrip tanked 13.85 per cent to end at Rs 43.55. Intra-day, it slumped 19.38 per cent to touch a low of Rs 40.75.
 On Tuesday, the scrip closed down 10 per cent amid reports that the bank was likely to reject a capital infusion offer.
However, the lender after the market hours said it shall continue to evaluate other potential investors to raise capital up to USD 2 billion.
"The board is willing to favourably consider the offer of USD 500 million of Citax Holdings and Citax Investment Group and the final decision regarding allotment to follow in the next board meeting, subject to requisite regulatory approval(s)," it said in a regulatory filling.
The binding offer of USD 1.2 billion submitted by Erwin Singh Braich / SPGP Holdings continues to be under discussion, it further added. SRS MR
MR

Yes Bank shares plunge over 15 pc on capital infusion concerns

<ul><li>The benchmark index Sensex was trading 0.32% higher at 38,493.24</li><li>The NSE Nifty was up 0.41% at 11,354.40. </li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Domestic equity benchmark Sensex jumped over 100 points in early trade on Thursday led by gains in index majors TCS, Infosys and HUL amid firm cues from global peers and sustained foreign fund inflow. The benchmark index Sensex was trading 0.32% higher at 38,493.24; while NSE Nifty was up 0.41% at 11,354.40. These are the top stocks that are buzzing the D-street today: IndiGo’s parent Interglobe Aviation shares rallied nearly 8% during the morning tarde <keyword id="678811" type="COMPANY" weightage="20" keywordseo="Westbridge-Capital">Westbridge Capital</keyword>, a private equity firm bought 1.41% stake in India's largest domestic airline IndiGo for ₹559 crore through an open market transaction. Strides Pharma trading nearly 1% higher Strides Pharma promoters announced the acquisition of the 3.7% stake owned by Sequent Scientific. The acquisition of stake will be at ₹475 per share, and the transaction is expected to be completed in the next coming months. Ashok Leyland nose dived over 2% Hinduja Group flagship firm Ashok Leyland shares were trading nearly 2% lower after the company reported a consolidated net loss of ₹388.82 crore for the first quarter ended June 30. The company’s revenue from operations in April-June 2020 significantly declined to ₹1,486.04 crore as compared with ₹6,588.23 crore in the year-ago period. <keyword id="80296" type="COMPANY" weightage="20" keywordseo="Eicher-Motors">Eicher Motors</keyword> trading more than a percent lower Eicher Motors is slated to report its first quarterly earnings today. The share price was trading 1.07% lower during the morning trade as analysts expect the street is expecting a 63% revenue dip and over 90% fall in its profit in the first-quarter earnings. <keyword id="2797147" type="PERSON" weightage="20" keywordseo="Aurobindo-Pharma-shares">Aurobindo Pharma shares</keyword> decline 2.95% Despite posting a 22.8% rise in its net profit for the quarter ended on June 30, the shares of drugmaker Aurobindo Pharma declined nearly 3% in the early hours of trading. TCS, HCL Wipro and other tech shares rally during the morning trade IT stocks rallied after the Donald Trump administration announced certain exemptions in the H-1B and L-1 travel ban for those continuing employment with the same employer. All three major Tech companies’ shares were trading above 2% higher than the previous close. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-britannia-hero-motocorp-ashok-leyland-mm-financial-indiabulls-housing-and-more/articleshow/77516263.cms" data-type="tilCustomLink">Top stocks to watch today— Britannia, Hero MotoCorp, Ashok Leyland, M&amp;M Financial, Indiabulls Housing and more</a> <a href="https://www.businessinsider.in/tech/news/it-only-takes-50-tweets-to-find-a-troll-on-twitter/articleshow/77512151.cms" data-type="tilCustomLink">It only takes 50 tweets to find a troll on Twitter</a>

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