Vedanta, IIFL Finance, Lemon Tree, Astron Paper, and Others

Stocks to Watch on Monday: Nifty futures on the Singapore Exchange traded 318.5 points, or 1.97 per cent, lower at 15,866.50, signaling that Dalal Street was headed for a negative start on Monday. Bears were back in control of the Dalal Street after a day’s break and pulled down the benchmark indices by nearly 2 per cent as inflation concerns and growth worries came roiled the sentiment in the last session. The Sensex plunged 1,017 points, or 1.8 per cent, to 54,303, while the Nifty corrected 276 points, or 1.7, per cent to 16,202.


Billionaire Anil Agarwal-owned Vedanta’s iron & steel segment has ventured into iron ore mining operations in Liberia, West Africa through its subsidiary Western Cluster (WCL) with the ground-breaking ceremony that was held at the Bomi iron ore mine on June 8. WCL is a wholly-owned subsidiary of Bloom Fountain (BFL) which in turn is a wholly-owned subsidiary of Vedanta. WCL had signed a Mineral Development Agreement with the government of Liberia for three iron ore mining concessions in Bomi, Bea, and Mano in 2011. However, the operations could not be started due to the outbreak of the Ebola epidemic.

IIFL Finance

British International Investment Plc (formerly known as CDC Group Plc) offloaded 1.6 crore equity shares in the company through open market transactions on June 10. With this, its shareholding in the company stands reduced to 3.557 per cent from 7.772 per cent. However, Max Life Insurance Company acquired 24.6 lakh equity…

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