UBL gains 3.7% on buzz Heineken may buy stake

Share prices of United Breweries Ltd (UBL) and its parent, United Breweries (Holdings), saw a sharp spike during trading on Wednesday following a report by a TV news channel that Heineken may buy part of Vijay Mallya?s stake in the beermaker. The report, however, could not be independently verified as UBL officials did not respond to queries.

EIH board approves R110-cr rights issue

EIH Associated Hotels (EIH) said on Wednesday that its board of directors have approved the amalgamation of its wholly-owned subsidiary Island Hotel Maharaj into the parent company. The amalgamation will be complete after it is sanctioned by the Madras High Court. The company also approved a rights issue to raise R110 crore. The terms of the rights issue is yet to be formulated and will be announced after discussion with the lead manager of the rights issue.

Essel group acquires 10.19% stake in IVRCL

Essel group has acquired a 10.19% stake in Hyderabad-based IVRCL as part of its plans to expand in the infrastructure segment. The details of the acquisition were not disclosed. ?In line with its philosophy to grow its infrastructure business to match and benefit from the rising proportion of infrastructure investment by India, the Essel group has acquired a 10.19% stake in IVRCL and is keen to increase it and is in the process of increasing it,? Essel Group said. The diversified group, which is the parent of media companies such as Zee Entertainment Enterprises and Zee News, said that none of its media arms were related to this investment.

BSE institute inks MoU with German finance school

BSE Institute (BIL), a wholly-owned subsidiary of the BSE, and the Frankfurt School of Finance & Management, signed a memorandum of understanding (MoU) on Wednesday to conduct joint training programmes in financial markets in both Germany and India. The MoU will help facilitate joint certification programmes, student exchange and internship opportunities and management development programmes for senior executives.