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Standard Chartered Private Equity on Friday picked up nearly 50 lakh shares of Fortis Healthcare for an estimated R47 crore. According to information available with the stock exchanges, Standard Chartered Private Equity (Mauritius) purchased 24.76 lakh shares of Fortis Healthcare on the NSE and another 24.99 lakh shares of the company on the BSE. The shares were bought on an average price of R95 valuing the transaction to R47.27 crore, the data showed.
Tata Steel checks Stemcor India assets before bidding
Tata Steel is examining the assets of Stemcor India before it considers bidding for it. Tata Steel managing director Hemant Nerurkar told FE, “The expression of interest is on; we have to get a lot of information, we know something about their pelletization plant, we also need to know about the other things (assets), we have to check everything properly then only we can bid.” British company Stemcor India’s assets which are up for sale include a majority ownership in an iron ore mine, a pellet plant and a 230-km long slurry pipeline connecting the iron mines with a pellet factory in Orissa.
Shriram Group honcho joins Sanlam arm’s board
GS Sundararajan, group director of the Shriram Group, has been appointed on the board of directors of Sanlam Emerging Markets (SEM) with effect from August. Sundararajan is a director on the boards of the financial service subsidiaries and represents the promoter group in providing oversight in critical areas of strategic growth opportunities for each of these companies. He is the designated owner for leading the banking initiative for the group , a statement said on Friday.
Wockhardt promoter releases pledged shares
Wockhardt’s promoter Khorakiwala Holdings & Investments released pledge on its 6.97 crore equity shares (63.62%) on Wednesday. Now only 4.4 lakh shares or 0.4% equity of Habil F Khorakiwala is pledged. Promoters hold 73.54% stake in the company as of June 2013. Wockhardt shares closed 4.5% up to R460.15 on the BSE on Friday.
Tecpro Systems Q1 net loss at R60 crore
Lower income led Tecpro Systems into the red with the material handling firm reporting R60 crore net loss during the April-June quarter over a year ago. The firm had clocked R7.03 crore net profit in the corresponding quarter a year ago. Total income of the company fell to R308.64 crore from R558.15 crore recorded in the April-June quarter of 2012-13 fiscal. While expenses came down to R271.88 crore during