Ebixcash World Money has entered into an agreement to acquire a controlling 74.84 per cent stake in India-based Weizmann Forex at an enterprise valuation of USD 65.94 million, an official statement said.
Weizmann Forex is the second largest inward remittance provider besides being one of the four largest Foreign exchange & outward remittance providers in India.
India tops the list of nations in terms of remittances received. In 2017, the country received more than $60 billion in remittances
SBI | Bank of Baroda | Aurobindo Pharma | Lupin | Tata Steel | Pricol | Power Grid | Bata | Cairn India | SAIL | JK Tyre | Torrent Power | Triveni Engineering | ICRA and BPCL are stocks, which are in the news today.
Weizmann Forex has reported a sales standalone turnover of Rs 1,133.59 crore and a net profit of Rs 3.24 crore for the quarter ended Dec '13
Weizmann Forex has reported a sales standalone turnover of Rs 1,266.82 crore and a net profit of Rs 4.73 crore for the quarter ended Jun '13
Mudar Patherya of Investment Advisor spoke to CNBC-TV18 about his stock picks from the midcap space.
Buy Weizmann Forex, says Avinash Gorakshakar Of Edelweiss Securities.
Forex undertaking Weizmann Forex (WFL) and power undertaking Karma Energy (KEL), demerged entities of Weizmann Limited (WL), will be listing their shares on Tuesday, June 28.