PNB fraud: Nirav Modi, Mehul Choksi put jewellery sector’s growth at stake

The alleged fraud at state-owned Punjab National Bank (PNB), involving diamond traders Nirav Modi and Mehul Choksi, has taken a new twist as the amount rose to Rs 12,700 crore from previous Rs 11,400 crore, putting the health of gems and jewellery sector’s growth at stake. PNB alleged that one of its former employees provided … Read more PNB fraud: Nirav Modi, Mehul Choksi put jewellery sector’s growth at stake

THE HANESBRANDS INC. (HBI) STAKE BOOSTED BY STONERIDGE INVESTMENT PARTNERS LLC

Stoneridge Investment Partners LLC increased its stake in Hanesbrands Inc. (NYSE:HBI) by 67.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,659 shares of the company’s stock after buying an additional 61,299 shares during the period. Stoneridge Investment Partners LLC’s holdings in Hanesbrands … Read more THE HANESBRANDS INC. (HBI) STAKE BOOSTED BY STONERIDGE INVESTMENT PARTNERS LLC

Electrosteel Steels hits 52-week high on Jindal Drilling stake buys

Electrosteel Steels hit a 52-week high of Rs 5.30, up 14% on the National Stock Exchange (NSE) after Jindal Drilling & Industries, a part of the D P Jindal Group, has bought more than 9 million shares for Rs 3.75 crore through open market. On January 11, 2017, Jindal Drilling & Industries has acquired 9.16 … Read more Electrosteel Steels hits 52-week high on Jindal Drilling stake buys

Arvind raises Rs 740 crore by diluting stake in fashion arm

NEW DELHI: Textiles and branded apparel major Arvind Ltd on Monday said that it has raised Rs 740 crore from the market by diluting stake in subsidiary — Arvind Fashions Ltd. The company has completed the transaction and raised the amount from Multiples, a private equity firm, the company informed BSE in a filing. “We … Read more Arvind raises Rs 740 crore by diluting stake in fashion arm