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<ul><li><keyword id="7066376" type="General" weightage="20" keywordseo="India-Resurgence-Fund" source="Orion">India Resurgence Fund</keyword> is a India-focused investment platform promoted by Piramal Enterprises and <keyword id="6581358" type="General" weightage="20" keywordseo="bain-capital" source="Orion">Bain Capital</keyword>.</li><li>With this, IndiaRF has become the majority shareholder in <keyword id="315860" type="General" weightage="20" keywordseo="Impresario" source="Orion">Impresario</keyword> Entertainment and Hospitality.</li><li>Impresario operates famous brands like <keyword id="6355103" type="General" weightage="20" keywordseo="social" source="Orion">SOCIAL</keyword>, Mocha, <keyword id="82147" type="General" weightage="20" keywordseo="Smoke-House-Deli" source="Orion">Smoke House Deli</keyword>, Slink &amp; Bardot, and Salt Water Café.</li></ul>India Resurgence Fund (IndiaRF), a India-focused investment platform promoted by Piramal Enterprises and Bain Capital, on Monday announced an investment of ₹550 crore in Impresario Entertainment and Hospitality, becoming the majority shareholder in the hospitality firm. Impresario owns and manages several restaurants and cafes across 17 cities. It operates famous brands like SOCIAL, Mocha, Smoke House Deli, Slink &amp; Bardot, and Salt Water Café. It also owns and operates dark or virtual kitchen brands like BOSS Burger, Lucknowee and HungLi. In 2017, private equity firm L Catterton invested in Impresario. IndiaRF’s investment will help fuel Impresario’s growth plans. The company plans to double its outlets and enlarge its current geographical footprint from 17 to more than 30 cities as it believes India’s food and beverage market is set to get more organised – growth is expected to be in the high teens over the coming years. A burgeoning middle class, as well as millennial and Gen Z consumers looking for refreshing and engaging experiences as they dine out more often amid the market’s evolution will drive demand, the company said. “While the journey through the pandemic was especially tough for the restaurant sector, we were able to not only sustain, but also strengthen our business. As we now begin a new chapter with IndiaRF, we look forward to a fruitful collaboration which we believe will propel Impresario to an exciting next stage of growth,” said Riyaaz Amlani, founder and managing director of Impresario. India Resurgence Fund invests from its $629-million IndiaRF Fund I, which raises funds from international institutional investors, high net worth investors and family offices. The fund looks to invest in businesses that have fundamentally strong growth prospects linked to consumption and infrastructure needs of India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indices-open-flat-as-investors-await-october-inflation-data/articleshow/95500085.cms">Indices open flat as investors await October inflation data</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rustomjee-group-firm-keystone-realtors-set-to-open-635-crore-ipo-on-monday/articleshow/95484742.cms">Rustomjee Group firm Keystone Realtors set to open ₹635-crore IPO on Monday</a>

Piramal-Bain’s IndiaRF takes majority stake in Social and Smoke House Deli owner Impresario

The <keyword id="35140" type="COMPANY" weightage="20" keywordseo="BSE">BSE</keyword> and <keyword id="6354646" type="COMPANY" weightage="20" keywordseo="nse">NSE</keyword> have decided to suspend trading in the <keyword id="30335" type="ORGANIZATION" weightage="20" keywordseo="Shares">shares</keyword> of <keyword id="533676" type="COMPANY" weightage="20" keywordseo="Dewan-Housing-Finance-Corporation-Ltd">Dewan Housing Finance Corporation Ltd</keyword> (<keyword id="127124" type="CITY" weightage="20" keywordseo="DHFL">DHFL</keyword>) from Monday. The development follows the approval of the resolution plan of Piramal Capital &amp; Housing Finance Ltd to acquire the bankrupt company. Delisting of the shares has been done as part of the resolution plan of the <keyword id="6397591" type="COMPANY" weightage="20" keywordseo="piramal-enterprises">Piramal Enterprises</keyword>' subsidiary. "In pursuance of Regulation 3.1.2 of the <keyword id="53581" type="COMPANY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> (Capital Market) Trading Regulations Part A, and for reasons mentioned above it is hereby notified that the following security will be suspended from trading w.e.f. June 14, 2021 (i.e. closing hours of trading on June 11, 2021)," said an NSE circular. It noted that the company through announcement dated June 9, 2021, stated that no value was attributable to the equity shares as per the liquidation value of the company estimated by registered valuers appointed under the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. On June 7, the <keyword id="6358070" type="LOCATION" weightage="20" keywordseo="mumbai">Mumbai</keyword> bench of NCLT approved the resolution plan of Piramal Capital &amp; Housing Finance Ltd for DHFL. Piramal Capital &amp; Housing Finance Ltd is a wholly owned subsidiary of Piramal Enterprises. The approval came after the National Company Law Appellate Tribunal (NCLAT) on May 25 stayed the NCLT order directing DHFL's Committee of Creditors (CoC) to consider the settlement of its former promoter Kapil Wadhawan. On Friday, shares of DHFL on the BSE closed at Rs 16.70, lower by 9.97 per cent from its previous close. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-launch-teased-expected-to-be-released-on-june-18/articleshow/83426239.cms">Battlegrounds Mobile India launch teased, expected to be released on June 18</a> <a href="https://www.businessinsider.in/tech/news/android-12-beta-breaks-records-googles-most-downloaded-beta-version-ever/articleshow/83425692.cms">Android 12 beta breaks records — Google’s most downloaded beta version ever</a>

BSE and NSE suspend trading in shares of Dewan Housing Finance Corporation Ltd (DHFL) from Monday

<ul><li>US-based Carlyle Group Inc will pick up 20% stake in Piramal Pharma for around USD 490 million (over ₹3,700 crore).</li><li>The estimated equity capital investment for Carlyle's 20 per cent stake in Piramal Pharma would amount to around USD 490 million, it said. </li><li>The final amount of equity investment will depend on the net debt, exchange rate and performance against the pre-agreed conditions at the time of closing of the deal, it added.</li></ul>US-based Carlyle Group Inc will pick up 20% stake in Piramal Pharma for around USD 490 million (over ₹3,700 crore), <keyword id="6397591" type="COMPANY" weightage="20" keywordseo="piramal-enterprises">Piramal Enterprises</keyword> said on Saturday. "CA Clover Intermediate II Investments, an affiliated entity of CAP V Mauritius Ltd, an investment fund managed and advised by affiliated entities of <keyword id="154949" type="COMPANY" weightage="20" keywordseo="The-Carlyle-Group">The Carlyle Group</keyword> Inc has agreed to invest fresh equity capital for a 20 per cent stake in <keyword id="9473224" type="COMPANY" weightage="20" keywordseo="piramal-pharma-ltd">Piramal Pharma Ltd</keyword>," the Ajay Piramal-led company said in a regulatory filing. The estimated equity capital investment for Carlyle's 20 per cent stake in Piramal Pharma would amount to around USD 490 million, it said. The final amount of equity investment will depend on the net debt, exchange rate and performance against the pre-agreed conditions at the time of closing of the deal, it added.

Carlyle Group to buy 20% stake in Piramal Pharma for over ₹3,700 crore

<keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword> and <keyword id="6397591" type="COMPANY" weightage="20" keywordseo="piramal-enterprises">Piramal Enterprises</keyword> are among the four entities that have placed bids for DHFL, the first financial services player undergoing insolvency process, according to sources. Besides, sources said, the US-based Oaktree and Hong Kong-based SC Lowy submitted bids for DHFL on October 17, the last date to submit final bids. In November, the Reserve Bank referred DHFL, the third largest pure-play mortgage lender, to <keyword id="4195801" type="COMPANY" weightage="20" keywordseo="the-national-company-law-tribunal">the National Company Law Tribunal</keyword> (NCLT) for insolvency proceedings. DHFL was the first finance company to be referred to NCLT by the RBI using special powers under section 227. Prior to that, the company's board was superseded and R Subramaniakumar was appointed as the administrator. He is also the resolution professional under the Insolvency and Bankruptcy Code (IBC). According to sources, Oaktree has submitted bid for the entire company and the bid value is Rs 20,000 crore as against the admitted liability of Rs 95,000 crore with Rs 10,000 crore cash in hand. Therefore, sources said, accepting Oaktree bid would result in a write-off of Rs 65,000 crore for the lenders led by State Bank of India (SBI). Adani Group has bid for DHFL's Rs 40,000-crore wholesale and Slum Rehabilitation Authority (SRA) portfolio, valuing it at Rs 3,000 crore, sources said. Piramal Enterprises has bid for DHFL's retail portfolio. It has quoted Rs 12,000 crore for the business and is asking for 18 per cent yield on this portfolio, they said. According to bankers, the bid of SC Lowy, the fourth bidder, comes with so many conditions that it is unlikely to be considered. Bankers are of the opinion that resolution of DHFL through NCLT will result in a massive write-off for the lenders and they will be stuck with over Rs 60,000 crore non-performing assest (NPAs). DHFL did not respond to an email seeking comments on the matter. With this kind of heavy write-off, sources said, it does not seem to be a good deal for lenders. SBI is the lead banker with an exposure of over Rs 10,000 crore to DHFL, while LIC and EPFO will also have to write-off nearly Rs 10,000 crore. As of July 2019, the company owed Rs 83,873 crore to banks, the National Housing Board, mutual funds and bondholders. DHFL was sent to bankruptcy after the government on November 15, 2019 enabled the Reserve Bank to sent large financial services companies, excluding banks, to NCLT for insolvency proceedings. According to a filing last month, fraudulent transactions worth Rs 17,394 crore were reported at DHFL during FY07 to FY19, as per a report of transaction auditor Grant Thornton. Fund diversion by the promoters of DHFL resulted in lenders classifying DHFL account as "fraud". Another fraudulent transactions worth Rs 12,705.53 crore was reported by the forensic audit, followed by the third one earlier this month. The third fraud worth Rs 2,150.84 crore, by way of undervaluing the company's insurance subsidiary, was detected by Grant Thornton SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/pelosis-office-says-the-latest-coronavirus-stimulus-talk-with-mnuchin-had-encouraging-news-on-testing/articleshow/78734327.cms" data-type="tilCustomLink">Pelosi's office says the latest coronavirus stimulus talk with Mnuchin had 'encouraging news on testing'</a> <a href="https://www.businessinsider.in/defense/news/india-china-militaries-to-hold-eighth-round-of-talks-over-border-dispute/articleshow/78735795.cms" data-type="tilCustomLink">India, China militaries to hold eighth round of talks over border dispute</a>

Adani Group, Piramal among 4 bidders for DHFL, lenders stare at over ₹60,000 crore write-off

New Delhi, Mar 2 () Piramal Enterprises on Monday said it has received USD 900 million (around Rs 6,500 crore) on completion of divestment of stake in its healthcare insights and analytics business to US-headquartered Clarivate Analytics. The company in January this year announced an agreement for sale of its Decision Resources Group (DRG) business to Clarivate Analytics for USD 950 million, and had said it would use the money to reduce debt and to explore organic and inorganic growth opportunities. PEL DRG Dutch HoldCo BV, a 100 per cent subsidiary of Piramal Enterprises Ltd (PEL) and the holding company for DRG, had signed the definitive agreement for sale of DRG business. "... the transaction has closed on February 28, 2020, and the company has received the consideration amount of USD 900 million pursuant to the closing. The remaining USD 50 million would be received at the end of 12 months from the closing as per the agreed terms," Piramal Enterprises said in a filing to BSE Shares of Piramal Enterprises were trading at Rs 1,419.85 per scrip on BSE, up 8.61 per cent from their previous close. AKT ANSANS

Piramal Enterprises receives USD 900 mn on closing sale of DRG business

The race to acquire the bankrupt Dewan Housing Finance Corporation Ltd (DHFL) has intensified with both the final bidders Oaktree and Piramal having enhanced their offers. US-based <keyword id="216100" type="COMPANY" weightage="20" keywordseo="Oaktree-Capital">Oaktree Capital</keyword> has raised its offer for the insolvent NBFC by Rs 1,700 crore, intensifying the bidding war with Piramal Enterprises. In its letter to the Committee of Creditors on Thursday, Oaktree said that its bid is now at Rs 36,410 crore and that of Piramal is Rs 34,909 crore. Oaktree's offer came a day after Piramal raised its bid by Rs 1,000 crore and also improved its offer for a controlling stake in DHFL's Pramerica Life Insurance Company to Rs 1,000 crore from Rs 300 crore. "We understand that the bidder that submitted the second highest bid has sought to increase its bid by means of (a) allocating additional interest income to the financial creditors and (b) increasing its bid for the insurance stake. As required, we are allocating an additional amount of Rs 1,700 crores as additional interest income to the financial creditors," Oaktree said in its latest letter to the CoC. The lenders had asked both the final bidders in the December 18 meeting to sweeten their bids. The CoC also asked Oaktree and Piramal to specify the proposed shareholding structure of DHFL's insurance business, where foreign ownership is currently capped at 49 per cent. Earlier, Kapil Wadhawan, the erstwhile promoter of the Dewan Housing Finance Corporation Ltd (DHFL), wrote to the administrator of DHFL, reiterating his new proposal to repay 100 per cent of the principal debt to the creditors. He also assured to run the NBFC following the best corporate governance standards as decided by the lenders. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/these-were-the-biggest-cyber-attacks-of-2020/slidelist/79941232.cms">From FireEye to Twitter to Covid-19 vaccine research ⁠— these were the biggest cyber attacks of 2020</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/these-were-the-biggest-cyber-attacks-of-2020/slidelist/79941232.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/from-taking-on-yahoo-to-being-tamed-by-chinas-communist-party-its-been-a-roller-coaster-decade-for-jack-ma/slidelist/79935613.cms">From taking on Yahoo to being tamed by China’s Communist Party— it’s been a roller coaster decade for Jack Ma</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/from-taking-on-yahoo-to-being-tamed-by-chinas-communist-party-its-been-a-roller-coaster-decade-for-jack-ma/slidelist/79935613.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/india-will-have-to-pay-cairn-1-2-billion-ending-one-of-the-biggest-tax-disputes-of-the-decade/articleshow/79934284.cms">India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade⁠— but the tax department may not have given up yet</a>

It's a bidding war⁠— Oaktree and Piramal have increased their bids for DHFL

<keyword id="2258685" type="UNKNOWN" weightage="80" keywordseo="Piramal-Fund-Management">Piramal Fund Management</keyword> (PFM) today said it has sanctioned Rs 1,200 crore in financing for a high-end residential project being developed by Omkar Realtors in the metropolis. 
 The Fund, a unit of <keyword id="1151421" type="ORGANIZATION" weightage="80" keywordseo="Piramal-Enterprises-Ltd">Piramal Enterprises Ltd</keyword>, claimed it was one of the biggest realty project <keyword id="25455" type="ORGANIZATION" weightage="80" keywordseo="finance">finance</keyword> transactions in recent times. 
 
 
Of the total commitment, Rs 400 crore will be used to refinance existing lenders, while the balance Rs 800 crore has been secured against a 20:80 scheme and is to be released in a staggered manner over the next two years as the project progresses, PFM said in a statement here. 
 
 'Omkar 1973' is the flagship property of the city- based realtor involving three <keyword id="6484392" type="UNKNOWN" weightage="80" keywordseo="high-rise">high rise</keyword> towers coming up on a nine-acre land parcel in Worli, Central Mumbai. 
 
Over 4 lakh sq ft, or 60 per cent of the under- construction project, has already been booked, the statement said, adding the builder is targeting for a delivery in 2017. 
 
 "The construction finance component of our transaction will be utilised towards <keyword id="6357455" type="EVENT" weightage="80" keywordseo="Funding">funding</keyword> interim construction costs and is further secured by both the 80 per cent receivables from the area sold as well as a substantial portion of additional area retained as security on a exclusive basis," the Fund said, explaining the deal's structuring. 
 PFM <keyword id="24973" type="POSITION" weightage="80" keywordseo="managing-director">Managing Director</keyword> <keyword id="1473999" type="PERSON" weightage="80" keywordseo="Khushru-Jijina">Khushru Jijina</keyword> called it a "novel structure" which involves a combination of senior debt and secured project funding. 
 
 The Ajay Piramal-led Piramal Enterprises also has interests in <keyword id="34499" type="POSITION" weightage="80" keywordseo="private-equity">private equity</keyword> <keyword id="6362476" type="ORGANIZATION" weightage="80" keywordseo="investments">investments</keyword> in <keyword id="6354553" type="COMPANY" weightage="80" keywordseo="real-estate">real estate</keyword> and developing land banks, among other areas.

This high-end real estate project in Mumbai has
just received Rs 1200cr funding

(Eds: Adding details) New Delhi, Jun 27 () The US-based global investment firm Carlyle Group Inc will buy 20 per cent stake in Piramal Pharma for around USD 490 million (over Rs 3,700 crore), a statement said on Saturday. The capital raise will accelerate Piramal Pharma's organic and inorganic growth plans, the Ajay Piramal-led Piramal Enterprises and Carlyle Group said in the joint statement. "... CA Clover Intermediate II Investments, an affiliated entity of CAP V Mauritius Ltd, an investment fund managed and advised by affiliated entities of The Carlyle Group Inc has agreed to invest fresh equity capital for a 20 per cent stake in Piramal Pharma Ltd...," it said. The transaction values the pharma business at an enterprise value (EV) of USD 2.775 billion (over Rs 20,980 crore), with an upside component of up to USD 360 million (over Rs 2,720 crore) depending on the company's FY21 performance, the statement said. "Based on the EV (excluding the upside component), exchange rate and pharma net debt as on March 31, 2020, the estimated equity capital investment for Carlyle's 20 per cent stake in Piramal Pharma would amount to USD 490 million (over Rs 3,700 crore)," it added. The final amount of equity investment will depend on the net debt, exchange rate and performance against the pre-agreed conditions at the time of closing of the deal. The transaction is expected to close in 2020, it added. "This is an affirmation of the strength of our ability to build new, attractive and scalable businesses with a significant runway for continued organic growth and opportunities for consolidation," Piramal Enterprises Chairman Ajay Piramal said. This infusion of funds "will further strengthen our balance sheet and provide us with a war chest for the next phase of our strategy," he added. Asked about the stake Piramal Enterprises will hold in the company post the transaction, Ajay Piramal told it will have 80 per cent stake. On whether Piramal Enterprises Ltd (PEL) will list Piramal Pharma going forward, he said: "We have publicly stated in the past, that in the medium term we will separate the two PEL businesses. This is a step closer towards that endeavour." PEL has two businesses -- pharma and financial services. Piramal Enterprises Executive Director Nandini Piramal said, "This fresh growth investment into our pharma business will be used as growth capital for the pharma businesses to expand capacity across our sites as well as to tap attractive acquisition opportunities within and outside India." "In the interim, the proceeds from this capital raise may also enable us to further strengthen our balance sheet through deleveraging in the near term," she added. Carlyle Asia Partners advisory team MD Neeraj Bharadwaj said Piramal Pharma has built a strong, diversified pharma business with a solid market position and scale in each of its core business segments of pharma solutions, critical care and consumer products. "Given global pharma industry trends, we see attractive opportunities for organic as well as inorganic growth in each of these businesses," he added. In similar vein, Carlyle Asia Partners advisory team Co-Head Greg Zeluck said, "This investment marks the beginning of an important partnership with the Piramal family, and further underscores our commitment to the Indian market." Carlyle has a history of investing in the healthcare sector, both in India and globally. It had in May announced a majority stake investment in Indian animal healthcare firm SeQuent Scientific, which is expected to close in the third quarter of 2020, the statement said. It has also made investments in Medanta Medicity Hospital, and diagnostic chain Metropolis Healthcare, among others in the Indian healthcare sector. Rothschild &amp; Co served as financial advisor and Cyril Amarchand Mangaldas and Covington &amp; Burling LLP served as legal advisors to Piramal Enterprises Ltd on this transaction. JP Morgan served as financial advisor and AZB &amp; Partners and White &amp; Case served as legal advisors to Carlyle. AKT ABM ABM

Carlyle Group to buy 20 pc stake in Piramal Pharma for over Rs 3,700 cr

New Delhi, Feb 18 () Shares of <keyword id="533676" type="DOMAIN" weightage="20" keywordseo="Dewan-Housing-Finance-Corporation-Ltd">Dewan Housing Finance Corporation Ltd</keyword> on Tuesday shot up 5 per cent to hit upper price band after more than two dozen entities put in bids to takeover the debt-laden firm.The stock zoomed 4.97 per cent to Rs 10.34 apiece on the BSE. On the NSE, the stock rose 4.59 per cent to Rs 10.25 a unit. Its shares hit the upper price band on both the stock exchanges. <keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword>, KKR, <keyword id="6581358" type="COMPANY" weightage="20" keywordseo="Bain-Capital">Bain Capital</keyword>, Kotak Mahindra Bank and Piramal Enterprises are among the more than two dozen entities that have put in bids for crippled <keyword id="127124" type="PERSON" weightage="20" keywordseo="DHFL">DHFL</keyword>, the first financial services player undergoing insolvency <keyword id="50472" type="ORGANIZATION" weightage="20" keywordseo="process">process</keyword>, according to two sources. The sources told that out of the interested entities, at least 14 are keen to take over the whole operations of the mortgage lender.

DHFL stock zooms to upper circuit as buyers like Pirmal and Adani line up to acquire it

<ul><li>The SGX Nifty was trading 0.23% higher at 7:55 am, indicating a higher 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>Amidst positive cues from the global markets, the Indian equities are likely to open higher on Monday. The SGX Nifty was trading 0.23% higher at 7:55 am, indicating a positive opening for Nifty50. These are the stocks to watch out for during the trading session on October 26: Future Retail and RIL The Singapore arbitration court ruled in favour of American e-commerce giant Amazon with regard to the Future-RIL deal. The court has directed Kishore Biyani’s led Future Group to not proceed with Mukesh Ambani’s Reliance Retail deal until the outcome of the arbitration process. The shares of Future Retail and RIL ended 4% and 0.24% higher, respectively, on Friday. DHFL According to PTI reports, the committee of creditors (CoC) of debt-ridden DHFL is scheduled to meet today to take a call on four bids received as part of the resolution process for the beleaguered firm. The four bidders include Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-based SC Lowy. The shares of DHFL ended 5% lower on Friday. IndusInd Bank and Kotak Mahindra Bank The Mauritius-based, IndusInd Bank promoter, IndusInd International Holdings Ltd (IIHL) refuted <a href="https://www.cnbctv18.com/finance/indusind-bank-says-report-on-merger-with-kotak-mahindra-bank-is-untrue-and-malicious-7297331.htm">media reports claiming that</a> Kotak Mahindra Bank may take over the bank. The shares of IndusInd Bank and Kotak Mahindra Bank ended 0.3% and 0.5% lower, respectively, on Friday. ICICI Bank The Indian multinational Bank, ICICI Bank has shut its operations in Sri Lanka after getting approval from the Sri Lankan monetary authority. The shares of ICICI Bank ended 0.84% higher on Friday. Vedanta Vedanta on Saturday said its board has approved the first interim dividend of ₹9.50 per share amounting to ₹35 billion. The shares of Vedanta ended flat on Friday. Tata Motors Tata Motors on Friday told investors that it has bagged an order for 6,413 vehicles from Andhra Pradesh State Civil Supplies Corporation. The company said it emerged as the top bidder under the terms and conditions set by the government. The shares of Tata Motors ended 3% higher on Friday. Tech Mahindra Tech Mahindra<a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-q2-maring-expansion-and-acquisitions/articleshow/78827612.cms"> reported a 5% year-on-year drop in its profit to ₹1,065 cror</a>e for the quarter ended September 30. Although the profit was up 9.5% compared to the sequential quarter. The company generated revenue of ₹9,372 crore, up 3.3% year-on-year. The shares of Tech Mahindra ended 1% higher on Friday. Yes Bank The private sector lender, Yes Bank is back in the black after reporting a net profit of ₹129 crore for the second quarter ended September 30. The bank had posted a net loss of ₹600 crore in the corresponding quarter last year. However, the bad loans in Yes Bank’s portfolio remained elevated. The shares of Yes Bank ended 5% higher on Friday. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/the-first-satellite-with-ai-onboard-is-now-in-orbit-and-its-tech-could-completely-change-how-we-respond-to-wildfires/articleshow/78858333.cms" data-type="tilCustomLink">The first satellite with AI onboard is now in orbit, and its tech could completely change how we respond to wildfires</a> <a href="https://www.businessinsider.in/stock-market/news/the-stock-market-has-historically-performed-better-when-the-incumbent-president-wins-reelection-according-to-one-analysis/articleshow/78858968.cms" data-type="tilCustomLink">The stock market has historically performed better when the incumbent president wins reelection, according to one analysis</a>

You Searched For "Piramal Enterprises Ltd" and got 10 results

Piramal-Bain’s IndiaRF takes majority stake in Social and Smoke House Deli owner Impresario

Bhakti Makwana

BSE and NSE suspend trading in shares of Dewan Housing Finance Corporation Ltd (DHFL) from Monday

IANS

Carlyle Group to buy 20% stake in Piramal Pharma for over ₹3,700 crore

PTI

Adani Group, Piramal among 4 bidders for DHFL, lenders stare at over ₹60,000 crore write-off

PTI

Piramal Enterprises receives USD 900 mn on closing sale of DRG business

PTI

It's a bidding war⁠— Oaktree and Piramal have increased their bids for DHFL

IANS

This high-end real estate project in Mumbai has just received Rs 1200cr funding

BI India Bureau

Carlyle Group to buy 20 pc stake in Piramal Pharma for over Rs 3,700 cr

PTI

DHFL stock zooms to upper circuit as buyers like Pirmal and Adani line up to acquire it

PTI

Top stocks to watch — Future Retail, RIL, IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, Tata Motors, Tech Mahindra, Yes Bank and others

Navdeep Yadav

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