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Adani Power proposes to acquire a 100% stake and control of bankrupt Lanco Amarkantak following a corporate insolvency resolution process (CIRP), the CCI said. Last month, Adani Power reportedly won the bid for the debt-laden firm for Rs 4,101 crore. “The proposed transaction does not result in an appreciable adverse effect on competition in any plausible relevant market in India. Accordingly, the definition of the relevant market may be left open,” the CCI said.
The Burman family has consolidated their position in Religare Enterprises Limited (REL) by increasing their stake by around 4% through open market purchases. Their cumulative stake now stands at 25.1%. The stake hike was done at an average price below Rs 235/share, which is the open offer price.
PharmEasys parent firm API Holdings cut down its advertising and promotional expenses to Rs 235 crore, less than half of what it incurred on this account in FY22, while staff costs also eased 12% to Rs 1,283 crore.