Promoters sell $10 b of equities in CY23, Adani Group promoters account for 40%
Calendar year 2023 has seen a sharp increase in sell-downs by promoters and PE/VC investors compared to the previous years. Promoters have offloaded almost ₹87,000 crore (~$10 billion) of equities this year, the highest in the past six years and 2.2x that in the previous year, a report by Kotak Institutional Equities observed. Adani Group […]
DCM Shriram secures ₹200-crore loan from HSBC India
DCM Shriram Ltd’s shares were up by 0.5 per cent after the company reported securing a sustainability-linked loan (SLL) of ₹200 crore from HSBC India. This financial move is intended to support the company’s ongoing capital expenditure program in Bharuch, Gujarat Amit Agarwal, Executive Director and Group CFO of DCM Shriram Ltd, said, “This is […]
IPO screener: Signatureglobal listing today
Shares of IFC-backed Signatureglobal will make a debut. The company has fixed the price at ₹385, at the upper end of the price band. The company launched ₹730-crore IPO last week, which contained a fresh of ₹603 crore and offer-for-sales by IFC worth ₹127 crore. The issue was a strong response by subscribing over 12 […]
Weekly rupee view: Rupee faces headwinds as dollar gains strength
In the second half of last week, the rupee (INR) appreciated against the dollar (USD). However, after marking a high of 82.83, the Indian currency depreciated and it ended at 83.23 on Tuesday. Therefore, there has not been much change over the past week and on a weekly basis. The rupee has remained flat against […]
Broker’s call: KEI Ind (Buy)
Target: ₹2,908 CMP: ₹2,415.20 We introduce FY26 estimates and upgrade the stock to ‘Buy’ from Hold as we roll forward to Sep’25E, revised TP of ₹2,908 @ 33x FY26 EPS (₹2,319 earlier). We met management of KEI Industries (KEI) to gauge the demand, competitive scenario and capacity constraints. The company has maintained its healthy revenue […]
Nifty Prediction Today–September 25, 2023: Bearish. Go short now and on a rise
Nifty 50 September Futures (19,675) Nifty 50 and Sensex continue to fall. The strong sell-off witnessed last week is spilling over this week as well. Both the indices are down about 0.28 per cent each. Nifty has room to test 19,600 and even 19,500 in the coming sessions. The price action thereafter will need a […]
AIFs may be allowed to issue P-notes from IFSC
The International Financial Services Centres Authority (IFSCA) is mulling allowing alternative investment funds (AIFs) to issue offshore derivative instruments (ODIs) or participatory notes from GIFT IFSC, said two people familiar with the matter. P-notes allow overseas investors to take indirect exposure to Indian securities without registering with the country’s market regulator. This year’s Budget recognised […]
Sudhakar Rao Desai re-elected to lead vegetable oil producers’ association
Sudhakar Rao Desai, Chief Executive Officer of Emami Agrotech Ltd, has been unanimously re-elected President of the IVPA (Indian Vegetable Oil Producers’ Association) at the 46th annual general meeting of the association. He has previously served as a member of the Organising Committee of Glob Oil, and as a member of the Product Committee of […]
Forex reserves fall to near 4-month low of $593.04 billion
India’s foreign exchange reserves fell for the second consecutive week to a near four-month low of $593.04 billion as of September 15, per data released by the RBI on Friday. Prior to this, the reserves were lowest as of May 26, 2023 at $589.14 billion, the Weekly Statistical Supplement data showed. For the week ended […]
SEBI eases norms for large corporates tapping debt market
The Securities and Exchange Board of India (SEBI) has provided for a number of relaxations to large corporates (LCs) for meeting their financing needs from the debt market. The regulator had mandated LCs to meet 25 per cent of their financing needs from the debt market, with an aim of deepening the corporate bond market […]