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9:28 AM
Vodafone Idea dips over 1% on profit booking; Board okays fund raise
>> The company’s board on Saturday approved issuance of up to 139.54 crore equity shares at Rs. 14.87 each, aggregating to Rs 2,075 crore to Oriana Investments.>> The Board also approved an increase in Authorised share capital of the company from Rs 75,000 crore to reference to Rs 1 lakh crore.
9:25 AM
Titan gains nearly % as Q4 revenue grows 17% YoY
>> The Tata group jeweller and watchmaker said its revenue grew 17 per cent in the March quarter, aided by strong demand for its jewelry products.
9:23 AM
Wipro falls 1% as Thierry Delaporte resigns as CEO
>> Srini Pallia who heads the company’s America-1 unit is likely to succeed Thierry Delaporte as the CEO. Wipro chose to bet on an insider who has grown through the ranks to lead the company.
9:05 AM
Precious metals on fire :: Gold tops Rs 71,000/10 gm for the first time; Silver sets new record
>> Gold June Futures hit intraday high of Rs 71,057 per 10 gm>> Silver May Futures hit intraday high of Rs 81,955 per kg
9:00 AM
Investment bankers lead the charge with Rs 1,000 crore record haul in Q1
According to the report, India’s equity capital market (ECM) witnessed a recordstart and raised $14.6 billion in Q1 of 2024, up 2.7x compared to a year ago, making it the highest-ever Q1 total by proceeds. READ MORE
8:56 AM
ALERT :: Muthoot Finance biz update
>> Assets under Management (AUM): AUM expanded by 32% year-over-year (YoY), reaching Rs 12,194 crore as of March 31, 2024>> Disbursement: Disbursement surged by 32% YoY to Rs. 10,662 crore during the fiscal year 2023-24, up from Rs. 8,104 crore in the fiscal year 2022-23
> Collection Efficiency: Collection Efficiency stands at 98.4% for the fiscal year 2023- 24, up 260 bps from 95.8% in the fiscal year 2022-23
Also Read : How to harvest tax-free capital gains from stocks and equity funds?
>> Active Customers: Active customer count expanded by 21% YoY, reaching 33.5 lakh customers as of March 31, 2024
8:52 AM
Manipal Health Enterprises nears Rs 1,400 crore deal to acquire Medica
Temasek-backed Manipal Health Enterprises is set to become India’s largest hospital chain with over 10,700 beds, as it nears the acquisition of Medica Synergie Private Ltd for around Rs 1,400 crore, sources close to the development said. An official announcement of the deal is expected later this month.
Apollo Hospitals Enterprise Ltd is the largest hospital chain with 10,103 beds. Manipal Health Enterprises (Manipal Hospitals) currently operates 9,500 beds across 33 hospitals in India. Medica has a presence in eastern India with 1,200 beds. Read more
8:49 AM
Prediction of scorching heat creates winners in Indian stock market
While several sectors may benefit, the heat wave’s overall market impact is more complex. Risks of water shortage and crop damage may keep food prices elevated, potentially pushing back the timing for the Reserve Bank of India’s rate cut. A spike in energy demand could exacerbate power shortages in some regions. READ MORE
8:45 AM
FPIs jettison FMCG and auto shares during March voyage, shows data
“There is concern that a harsh summer will negatively impact agricrops, leading to a decline in farmer incomes and rural spending. As for auto stocks, there’s a perception that they are fully valued, with limited potential for positive surprises. Until there is positive news on monsoons, FMCG stocks will likely remain under stress,” said Deepak Jasani, head of retail research at HDFC Securities. READ MORE
8:40 AM
Northern Arc Capital seeks Rs 385 crore PE funding ahead of market debut
The rating agency added the capital infusion was critical for its medium-term growth plans. NACL’s managed gearing stood at 3.8 times as of March 2023 and 3.6 times as of March 2022. ICRA reaffirmed ratings for the microfinance to MSME finance firm’s long term-fund based facilities at ‘AA-‘. READ MORE
8:36 AM
Street Signs: EPFO’s equity gambit and unlocking IPO potential, and more
The National Stock Exchange Nifty 50 and the S&P BSE Sensex exchange-traded funds (ETFs) used by the Employees’ Provident Fund Organisation (EPFO) for equity exposure saw a 3.7 per cent jump in assets in March, indicating heavy deployment by the retirement fund body during the month. READ MORE
8:32 AM
HSBC helps overseas funds navigate India’s bond market as inclusion nears
The bank is among custodians helping global investors with registration and other formalities as they gear up for the nation’s sovereign debt to be added to JPMorgan Chase & Co.’s emerging-market gauge from June. READ MORE
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