Benchmark indices closed higher, with the Nifty reaching a new record amid a generally upbeat global market trend. L&T Finance, Arvind, Nestle India, Sobha, and Whirlpool India are in the spotlight today due to significant business developments, including potential stake sales and operational updates.
Bain Capital is reportedly preparing to sell its entire stake in L&T Finance through a block deal valued at Rs 1,500 crore. This move is expected to draw considerable attention from investors looking for opportunities in the financial sector.
At Arvind, the strike at the Santej Plant has ended, allowing operations to normalise after being partially impacted. The company estimates a revenue loss of Rs 180-200 crore due to the strike, signalling potential challenges in their financial performance.
Nestle India announced a change in the record date for its final dividend to July 16, previously set for July 15, and confirmed the continuation of a 4.5% royalty fee to its Swiss parent Nestle. This decision reflects the company’s ongoing commitment to its dividend policy and corporate governance.
Sobha’s board has approved a rights issue aiming to raise Rs 2,000 crore, priced at Rs 1,651 per share, indicating the company’s strategy to bolster financial stability and growth. Meanwhile, PTC India Financial Services faces regulatory challenges as SEBI fined Pawan Singh ₹25 lakh and imposed a directorship ban for two years over governance issues.
