Warburg Pincus arms sells 4.2% in IDFC First Bank
Warburg Pincus affiliate Cloverdell Investment on Friday sold a 4.2 per cent stake in IDFC First Bank. According to a bulk deal data on the BSE, Cloverdell sold about 27.87 lakh shares at an average price of ₹89. As of the June quarter, Cloverdell held about 7.12 per cent stake or 47.17 crore shares in […]
BSE hikes buyback offer price to ₹1,080 crore
BSE, the country’s oldest stock exchange, has revised the buyback offer price to ₹1,080 a share against ₹816. The revised offer size has been fixed at ₹375 crore and the it will close on September 14. The exchange intends to buyback 34,70,370 equity shares, representing 2.56 per cent of the paid-up equity capital of the […]
MFs’ investment in NBFC CPs crosses ₹1 lakh crore for the first time since August 2019
Mutual funds’ investment in commercial papers (CPs) issued by non-bank financial companies (NBFCs) crossed the ₹1 lakh crore mark for the first time in July 2023, since August 2019. Fund houses had deployed ₹1.05 lakh crore in CPs of NBFCs, accounting for 5.5 per cent of their total debt investments as of the end of […]
Why a demat account is important for investments, and how to open one
In the dynamic world of finance and investment, the demat account stands as a crucial bridge between traditional paper-based securities and the modern digital age. A demat account, short for dematerialised account, has transformed the way investors trade, hold, and manage their securities. This piece aims to unravel the intricacies of a demat account, shedding […]
SAT not happy with SEBI’s order against Punit Goenka
The Securities Appellate Tribunal (SAT) on Wednesday said that it is ‘not satisfied’ with the Securities and Exchange Board of India’s (SEBI’s) recent confirmatory order against Zee’s former MD CEO, Punit Goenka, that barred him from holding any key managerial position in Zee group companies. SEBI’s confirmatory order from August 14 has essentially barred Punit […]
Stocks that will see action today: August 30, 2023
Zomato to be in spotlight on media reports indicating stake sale. SoftBank Vision Fund (SVF Global) is likely to offload 1.17 per cent stake (10 crore shares) in Zomato for Rs 940 crore via a block deal at Rs 94 a share. Mumbai Metro One Private Limited (MMOPL), a joint venture of Reliance Infrastructure Limited with Mumbai […]
Metal stocks drive Indian shares higher
Benchmark indices ended marginally higher on Tuesday, driven by gains in metal stocks on expectations of demand recovery in top consumer China. The Nifty 50 index settled 0.19 per cent higher at 19,342.65 at 3:30 pm, while the BSE Sensex gained 0.12 per cent to 65,075.82. Eight of the 13 major sectoral indexes logged gains, […]
Bharat Forge’s shares rise on securing contract worth ₹287 crore
Bharat Forge Ltd.’s shares were up by 2.58 per cent after the company reported that Kalyani Rafael Advanced Systems Private Limited, a joint venture between Kalyani Strategic Systems Limited (a wholly owned defence subsidiary of Bharat Forge Limited) and Rafael Advanced Systems Limited of Israel, has secured a contract valued at Rs 287.51 crore. The […]
Crude oil down despite China’s move to lower duty on stock trading
Crude oil futures traded lower on Monday morning despite China’s move to bring down stamp duty on stock trading. At 9.52 a.m. on Monday, November Brent oil futures were at $83.80, down by 0.18 per cent; and October crude oil futures on WTI (West Texas Intermediate) were at $79.77, down by 0.08 per cent. Also […]
Implementing cotton quality control order: Challenges and opportunities
Quality forms the bedrock of any thriving industry, serving as the fundamental building block for success. This truth resonates deeply within India’s textile sector – a key driver of the country’s economy, generating employment opportunities and contributing substantially to exports. Despite its robust farm-to-fashion framework, there is now a greater emphasis on product quality to […]