Sapphire Foods up after 3m shares sold

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Sapphire Foods, a company that operates more than 400 restaurants of KFC, Pizza Hut and Taco Bell in India, Sri Lanka and Maldives, saw a jump of up to 4.25 per cent on Tuesday. The stock touched an intraday high of Rs 1449. However, after that profit booking took over..The reason behind the movement was the block deal of 30 lakh shares in the opening trade. WWD Ruby, the Indian promoter of Sapphire Foods, is believed to have sold its entire stake, according to a report quoted by Bloomberg. The floor price of this block deal was fixed at Rs 1345-1391 per share. Sapphire Foods was started in September 2015 with the acquisition of about 250 stores of KFC and Pizza Hut in

 BLS International shares jump 5%, subsidiary taps IPO route to raise funds Shares of BLS International, a company providing visa and immigration services, jumped 5 per cent in the first few minutes of Tuesday’s trading session. The stock also touched an intraday high of Rs 203, which is very close to its 52-week high of Rs 208.90 . The reason behind this boom is the news of IPO of the subsidiary company. The board of BLS E-Services, a subsidiary of BLS International, on June 26 approved raising capital through an IPO. There was a jump in the stock due to the news of the IPO. The stock closed off day’s highs as no information was given about the size, price and other details of this IPO.

 Axiscades hits 52-week high again, locked in 5% upper circuit on debt refinancing Axiscades Technologies shares hit the upper circuit of 5% for the third day running.. The stock opened at Rs 475.75 and also closed at the upper circuit of 5 per cent, which is the highest ever level of the stock. It was due to the news related to the refinancing of the loan, that so much enthusiasm was seen in the stock on Tuesday. The company has announced refinancing of a loan of Rs 210 crore. According to the information given by the company to the stock exchanges, the refinancing of this loan will reduce the interest cost or interest expense of the company by about 4 per cent annually. Axiscades had acquired a company named Mistral in December 2022, for which this loan was raised. Mistral has experience in businesses such as semiconductor, embedded electronics, defence and product engineering. This acquisition was started in 2017 and was completed in a 4 phases The company was valued at Rs 296 crore.

AB Capital floats Rs 1,750-cr QIP, stock hits 52-week high Shares of Aditya Birla Capital, a company associated with Birla Group’s financial services business, touched a 5-year high of Rs 190.30 on Tuesday. The stock had jumped about 5 per cent in intraday and closed with a gain of about 6%. .The reason behind this boom is the QIP issue launched by the company, through which it wants to raise 1,750 crore rupees. The floor price of this QIP issue has been fixed at Rs 175.99 per share, which is at a discount of about 3 per cent from Monday’s closing. On May 11, the company’s board had announced raising capital of Rs 3,000 crores, which would be in one or more phases through equity or debt. Under this plan, the company’s board had given approval to the promoter and promoter group entity to raise Rs 1,250 crores at a rate of Rs 165.1 through a preferential issue, about which we had informed you in the 29th episode of CC. Through this offer, Grasim Industries will be issued 6.06 crore shares for an investment of Rs 1,000 crore and Surya Kiran Investments will be issued 1.51 crore shares for an amount of Rs 250 crore.