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ReNew shareholders raise offer for $880 million delisting

A consortium of key shareholders of ReNew Energy Global has raised the offer price to $8 per share from $7.07 last December for buying out other shareholders in a $880 million bid to delist the company.ReNew on Friday said it has received "a final non-binding offer" from the consortium of Abu Dhabi Future Energy Company PJSC-Masdar, Canada Pension Plan Investment Board, Platinum Hawk, and ReNew founder and chairman Sumant Sinha, to acquire the entire issued and to-be-issued share capital of the company currently not held by them.At $8 per share, the consortium will have to pay $880 million to other shareholders who together own 27.5% stake in ReNew. The revised offer lifted shares of ReNew, which closed 11% higher at $7.67 apiece on Thursday on the Nasdaq.If the consortium succeeds in buyi

Trent guides for slowdown in Q1 earnings, stock slumps 11%

Trent shares plunged more than 11% on Friday-the biggest single day slump since April 7-after the management tempered Q1 growth expectations that prompted investors to book profits.The company said in an update that it expects revenue growth of 20% for the first quarter which analysts said was significantly lower than its earlier forecast. This led to the shares nosediving almost 14% during the day. The stock closed at ₹5,456, down 11.8%.Analysts said that further declines of 4-5% are likely from current levels, and investors should stay away from the stock until clarity on the growth trajectory emerges from the company's upcoming earnings."During May and June the management gave an aspirational growth target of 25% over a longer term that the Street has been factoring in and during the

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Pak, US conclude imp round of trade talks

Pakistan and the US have concluded a critical round of trade negotiations, reaching an understanding on a deal that could shape the future of the country's key export sectors, a media report said on Saturday. While both sides have reached an understanding, a formal announcement is expected only after the US concludes similar ongoing negotiations with other trade partners, Dawn News reported. The understanding was reached with less than a week before the July 9 deadline to conclude the talks in Washington, where Commerce Secretary Jawad Paal led the Pakistan delegation to finalise a long-term reciprocal tariff agreement that would prevent the re-imposition of a 29 per cent tariff on Pakistani exports, primarily textiles and agricultural products. The tariff relief, temporarily paused earlie

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Trade deal may double India goods exports to US