Indian benchmark indices midday session on December 13 with Nifty around 24,730.95. In the second trading session, the Sensex is up 699.44 points or 0.86 percent at 81,989.40, and the Nifty is up 194 points or 0.75 percent at 24,730.95.
Here are the stocks that jumped after signing of shares purchase agreement:-
Prime Securities Ltd
Prime Securities Limited is engaged in investment banking and corporate advisory services. The Company is a provider of diversified, investment banking and corporate advisory services, licensed and regulated by the Securities and Exchange Board of India (SEBI), authorized to advise and arrange financial services.
With a market capitalization of Rs 994.00 crore, the shares were trading at Rs 296.25 per share, increasing around 1.33 percent as compared to the previous closing price.
According to the company filing, the company has acquired a 41.68% stake in Ark Neo Financial Services Private Limited, the Chennai-based fintech platform known as “DhanLAP.” Further, Prime will infuse capital into the company by subscribing to optionally convertible debentures after conversion, Prime’s holding will move above 50%. Prime’s total investment will be to the tune of Rs 700 lakhs/70 million.
Examine the company’s financial condition, revenue magnified by 100 percent from Rs 15 crore in Q2FY24 to Rs 30 crore in Q2FY25, and during the same time frame, net profit magnified by 325 percent from Rs 4 crore to Rs 17 crore.
360 One Wam Ltd
360 ONE WAM Limited, formerly IIFL Wealth Management Limited, is an India-based company that is primarily engaged in wealth and asset management services, including financial asset distribution, broking, lending, credit and investment solutions, and asset and portfolio management.
With a market capitalization of Rs 46,098.47 crore, the shares were trading at Rs 1,188.35 per share, increasing around 0.89 percent as compared to the previous closing price.
According to the company filing, 360 ONE Alternates Asset Management Limited (“360 ONE AAM”), a wholly-owned subsidiary of 360 ONE WAM LIMITED, has entered into a share purchase agreement to acquire certain equity shares of Maple Infra InvIT Investment Manager Private Limited which is valued at Rs 5.04 crore.
Examine the company’s financial condition, revenue magnified by 56 percent from Rs 550 crore in Q2FY24 to Rs 863 crore in Q2FY25, and during the same time frame, net profit magnified by 32 percent from Rs 186 crore to Rs 245 crore.
Written by:- Abhishek Singh
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