Reliance to acquire Radisys Corpn, Shares Up

Reliance Industries Limited (RIL) is set to acquire Radisys Corporation, a global leader of open telecom solutions, for USD 75 million or Rs 510.00 crore. Radisys Corporation is expected to give Reliance’s telecom arm-Jio a push. A definitive agreement is entered into under which Reliance Industries Ltd will acquire Radisys for USD 1.72 per share in cash.

The deal is depending on regulatory clearances and could be expected to close by the end of the fourth quarter. Reliance Industries in its PR said that the deal would be financed through its internal accruals.

On Friday Shares of RELIANCE INDUSTRIES LTD closed at Rs. 972.95 up at 2.99 percent in BSE as compared to the previous close of Rs.944.70. The stock hit an intraday high of Rs. 977.75 and intraday low of 949.70 during the day.

Top Stock Investment Advisory

Gateway Distriparks to increase stake in subsidiary, stock up

Shares of Gateway Distriparks Limited continue rise after reports that the company is going to buy Blackstone’s stake in Gateway Rail.

Gateway Distriparks Limited has entered into a share purchase agreement for acquiring the compulsorily convertible preference shares and equity shares held by Blackstone GPV Capital Partners, V-H in Gateway Rail Freight, for cash consideration of Rs 810 crore. However, there are no regulatory approvals required for the acquisition.

With this proposed acquisition company’s holding in its subsidiary, Gateway Rail Freight unit will go up to 99.8 percent.

During early afternoon hours of trade,Wednesday, share price of Gateway Distriparks was quoting at Rs 179.70, up Rs 2.69 percent on NSE.

Gateway Distriparks Limited is a logistics facilitator offering integrated logistics solutions, container freight stations rail movement dry port terminals cold storage last mile connectivity.

To Get Risk Free Tips Just Register Here

FMCG, Cement stocks rise in Tuesday’s trade

The benchmark BSE index was trading higher by 73.86 points at 35,544 level and Nifty was trading up by 22.85 points at 10,785 level, post lunch hours of trade, on Tuesday.

Nifty FMCG index rose 0.96% with GlaxoSmithKline Consumer Healthcare Limited up by 3.88% at 6,297.20 followed by Marico, Godrej Consumer Products, United Spirits Limited, Britannia Industries Limited as front liners trading up to 3.32% during the day.

Cement stocks advanced to a favorable extent with Ambuja Cements at Rs. 214.60 per share, up by 3.77%, Ultratech Cement was at Rs. 3,850.75, up by 2.63%, India Cements Limited was at Rs. 114.4, up by 2.19%, Ramco Cements was at Rs. 706.40, up by 0.87% on Tuesday.

Paint stocks were also advancing during the day. The stock of Asian Paints was trading at Rs. 1,264.80, up by 0.91%, Shalimar Paints was at Rs. 121.25 per share, up by 4.03%, and Berger Paints was at Rs. 283.55, up by 1.07%.

Top Investment Advisory