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India Today
7 days ago
- Business
- India Today
Stocks to watch on June 16: Adani Enterprises, Sun Pharma, NTPC, Bajaj Finance
Stock markets are expected to start the new week on a cautious note on June 16, as global investors closely track ongoing geopolitical tensions in the Middle the previous week, the stock market fell by over 1% due to nervousness around rising crude oil prices and global trading resumes on Monday, shares of several companies will be in focus due to fresh developments. These include Adani Enterprises, Sun Pharma, NTPC, Bajaj Finance, Vedanta, and ENTERPRISESAdani Enterprises will be one of the top stocks to watch after the company clarified reports regarding damage to its Haifa Port in Israel. The clarification came after news reports claimed the port was hit by an Iranian Sunday, Jugeshinder Robbie Singh, the Chief Financial Officer of the Adani Group, said these reports are false. He stated that the Haifa Port has not suffered any damage and that the port is operating as statement comes at a time when investors are reacting sharply to global events, especially those linked to the Middle East PHARMASun Pharmaceutical confirmed that the US Food and Drug Administration (FDA) completed an inspection of its Halol plant. The inspection ended with eight observations issued in a Form 483 inspections are important for pharmaceutical companies as they decide whether the company can continue to supply medicines to the US, one of its biggest markets. Investors will be watching to see how the company responds to these FINANCEBajaj Finance shares will be in the spotlight as they will trade ex-bonus and ex-stock split starting June 17. The company had announced a bonus issue in the ratio of 4:1, meaning shareholders will receive four additional shares for each share with this, the face value of each share will be split from Rs 2 to Rs 1, making the shares more affordable for retail investors. These changes were part of the company's announcements during its fourth-quarter earnings the state-run power producer, announced that it has started commercial operations at Unit-3 of the North Karanpura Super Thermal Power Project. This unit has a capacity of 660 start of commercial operations means the company can now earn revenue from power generated by this unit, which could help boost its financial performance in the coming announced the completion of its acquisition of 100% stake in Sresta Natural Bioproducts (SNBPL) for Rs 400 crore. As a result, SNBPL and its overseas companies in the US and UAE have now become wholly owned subsidiaries of has said it will hold a board meeting on June 18 to consider an interim dividend for the current financial year, FY26. The company has fixed June 24 as the record date to determine which shareholders are eligible to receive the are payouts made to shareholders, and news of such proposals can influence stock prices ahead of the board TECHNOLOGIESGaming and media firm Nazara Technologies will also be under focus after well-known investor Rekha Jhunjhunwala sold over 27 lakh shares in the company on June move reduced her holding in the firm. Large stake sales by key investors usually draw attention in the stock market, and share prices may react INTERNATIONALBiotech firm Syngene International has received an Establishment Inspection Report (EIR) from the US FDA for its GMP manufacturing units located in Biocon Park. This report suggests that the FDA has completed its inspection and has no immediate regulatory is seen as a positive sign for the company and may lead to investor interest in the stock. advertisement
Economic Times
7 days ago
- Business
- Economic Times
ITC shares in focus after Rs 472 crore acquisition of Sresta Natural Bioproducts
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of ITC are likely to be in focus on Monday, June 16, 2025, after the company announced the completion of its acquisition of Sresta Natural Bioproducts Private Ltd (SNBPL) for a total consideration of up to Rs 472.5 to the company's filing, ITC has acquired the entire share capital of SNBPL, comprising 1,87,48,858 equity shares of Rs 10 each. The acquisition was made for an upfront cash consideration of Rs 400 crore on a cash-free, debt-free basis, subject to customary ITC may pay up to Rs 72.5 crore over the next 24 months, contingent on specific terms outlined in the Share Purchase this transaction, SNBPL has become a wholly owned subsidiary of ITC. Furthermore, SNBPL's overseas subsidiaries—Fyve Elements LLC (USA) and Sresta Global FZE (UAE)—have now become step-down wholly owned subsidiaries of ITC, effective June 13, transaction was concluded on June 13, 2025, the company is primarily engaged in the manufacturing and sale of organic food products under the brand '24 Mantra Organic'. The company operates across India and has developed a substantial organic value has a network of approximately 27,500 farmers and manages around 1.4 lakh acres of certified organic farmland spread across 71 clusters in 10 Indian states. In addition to its domestic market, SNBPL also has a presence in the US with its own distribution on March 9, 2004, SNBPL has consistently reported a consolidated turnover of over Rs 300 crore in each of the last three financial years. For FY2023–24, the company posted a turnover of Rs 306.1 crore, compared to Rs 327.3 crore in FY2022–23 and Rs 326.7 crore in FY2021– stated in its disclosure that the acquisition aligns with the company's strategy to augment its future-ready portfolio. The move is expected to strengthen ITC's presence in the high-growth organic products segment, both in India and international company also highlighted that the domestic organic food products sector holds significant growth potential, driven by increasing health consciousness, rising household incomes, and the growing reach of modern trade and e-commerce channels. ITC shares closed 1.7% lower at Rs 413.90 on the BSE on Friday.
Time of India
7 days ago
- Business
- Time of India
ITC shares in focus after Rs 472 crore acquisition of Sresta Natural Bioproducts
ITC's shares are set to be in focus following the completion of its acquisition of Sresta Natural Bioproducts for up to Rs 472.5 crore. This acquisition, finalized on June 13, 2025, makes SNBPL a wholly-owned subsidiary and strengthens ITC's presence in the growing organic food sector, both domestically and internationally, with SNBPL's established network of farmers and certified organic farmland. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of ITC are likely to be in focus on Monday, June 16, 2025, after the company announced the completion of its acquisition of Sresta Natural Bioproducts Private Ltd (SNBPL) for a total consideration of up to Rs 472.5 to the company's filing, ITC has acquired the entire share capital of SNBPL, comprising 1,87,48,858 equity shares of Rs 10 each. The acquisition was made for an upfront cash consideration of Rs 400 crore on a cash-free, debt-free basis, subject to customary ITC may pay up to Rs 72.5 crore over the next 24 months, contingent on specific terms outlined in the Share Purchase this transaction, SNBPL has become a wholly owned subsidiary of ITC. Furthermore, SNBPL's overseas subsidiaries—Fyve Elements LLC (USA) and Sresta Global FZE (UAE)—have now become step-down wholly owned subsidiaries of ITC, effective June 13, transaction was concluded on June 13, 2025, the company is primarily engaged in the manufacturing and sale of organic food products under the brand '24 Mantra Organic'. The company operates across India and has developed a substantial organic value has a network of approximately 27,500 farmers and manages around 1.4 lakh acres of certified organic farmland spread across 71 clusters in 10 Indian states. In addition to its domestic market, SNBPL also has a presence in the US with its own distribution on March 9, 2004, SNBPL has consistently reported a consolidated turnover of over Rs 300 crore in each of the last three financial years. For FY2023–24, the company posted a turnover of Rs 306.1 crore, compared to Rs 327.3 crore in FY2022–23 and Rs 326.7 crore in FY2021– stated in its disclosure that the acquisition aligns with the company's strategy to augment its future-ready portfolio. The move is expected to strengthen ITC's presence in the high-growth organic products segment, both in India and international company also highlighted that the domestic organic food products sector holds significant growth potential, driven by increasing health consciousness, rising household incomes, and the growing reach of modern trade and e-commerce channels. ITC shares closed 1.7% lower at Rs 413.90 on the BSE on Friday.
Time of India
14-06-2025
- Business
- Time of India
ITC completes acquisition of 24 Mantra Organic brand owner Sresta Natural
Multi-conglomerate ITC has completed the acquisition of Sresta Natural Bioproducts , which owns the ' 24 Mantra Organic brand' in an all-cash deal valued at Rs 472.50 crore. This will help ITC to expand its play in the fast-growing organic food products segment . "The company has completed the acquisition of 100 per cent of the share capital of SNBPL on 13th June, 2025," ITC said in a regulatory filing. On the acquisition cost, ITC said it had an upfront consideration of Rs 400 crore on a cash-free debt-free basis and addition, consideration of up to Rs 72.50 crore, which is payable in the next 24 months. In April ITC had informed it had signed a share purchase agreement with Sresta Natural Bioproducts Private Limited (SNBPL) to acquire 100 per cent stake in the company. This acquisition is "in line with the strategy to augment the company's future-ready portfolio, the transaction is expected to fortify ITC's presence and market standing in the high-growth organic products segment in both Indian and overseas market," the Kolkata-headquartered firm said. SNBPL's portfolio comprises a wide range of over 100 organic products, spanning branded grocery staples, spices and condiments, edible oils, and beverages, among others. Besides, it has a strong international presence with a deep connection with the Indian diaspora. The domestic organic food products industry offers a "significant opportunity" for growth on the back of increasing health and environmental consciousness, a rise in household incomes and new-age distribution channels, ITC said, adding that SNBPL is a pioneer and leading player in the organic packaged staples category. SNBPL has two wholly-owned subsidiaries -- Fyve Elements LLC, USA and Sresta Global FZE, UAE. SNBPL, incorporated in March 2004, recorded a revenue of Rs 306.1 crore in FY 2023-24. Over the years, it has built a strong network of approximately 27,500 farmers and 1.4 lakh acres of certified organic land across 71 clusters in 10 states.
Time of India
14-06-2025
- Business
- Time of India
ITC completes acquisition of 24 Mantra Organic brand owner Sresta Natural
Multi-conglomerate ITC has completed the acquisition of Sresta Natural Bioproducts , which owns the ' 24 Mantra Organic brand' in an all-cash deal valued at Rs 472.50 crore. This will help ITC to expand its play in the fast-growing organic food products segment . "The company has completed the acquisition of 100 per cent of the share capital of SNBPL on 13th June, 2025," ITC said in a regulatory filing. On the acquisition cost, ITC said it had an upfront consideration of Rs 400 crore on a cash-free debt-free basis and addition, consideration of up to Rs 72.50 crore, which is payable in the next 24 months. In April ITC had informed it had signed a share purchase agreement with Sresta Natural Bioproducts Private Limited (SNBPL) to acquire 100 per cent stake in the company. This acquisition is "in line with the strategy to augment the company's future-ready portfolio, the transaction is expected to fortify ITC's presence and market standing in the high-growth organic products segment in both Indian and overseas market," the Kolkata-headquartered firm said. SNBPL's portfolio comprises a wide range of over 100 organic products, spanning branded grocery staples, spices and condiments, edible oils, and beverages, among others. Besides, it has a strong international presence with a deep connection with the Indian diaspora. The domestic organic food products industry offers a "significant opportunity" for growth on the back of increasing health and environmental consciousness, a rise in household incomes and new-age distribution channels, ITC said, adding that SNBPL is a pioneer and leading player in the organic packaged staples category. SNBPL has two wholly-owned subsidiaries -- Fyve Elements LLC, USA and Sresta Global FZE, UAE. SNBPL, incorporated in March 2004, recorded a revenue of Rs 306.1 crore in FY 2023-24. Over the years, it has built a strong network of approximately 27,500 farmers and 1.4 lakh acres of certified organic land across 71 clusters in 10 states.
