Will gold be the top-performing asset class in FY24?
[ad_1] Gold should definitely give a positive return over a longer horizon till the time there is a trade deficit. As with trade deficit, the Indian rupee (INR) keeps depreciating over a period and even if the international gold price stays stable. In India, gold prices move north over a period of time. Gold has […]
Orchid Pharma shares hit 52-week high on turnaround results
[ad_1] Shares of Orchid Pharma on Friday hit a 52-week high of ₹435.45 apiece on NSE after the company reported a turnaround in its financial performance. The Chennai-based company recorded a net profit of ₹55.24 crore for 2022-23 against a net loss of ₹56.89 crore for 2021-22. The company’s share on the NSE hit the […]
MSCI removes two Adani cos from its key global indexes; no changes to Egypt stocks, others
[ad_1] NEW YORK, May 11 Index provider MSCI said on Thursday two Adani-group companies will not be eligible for its global indexes, while 86 securities will be added to and 39 deleted from its widely followed MSCI ACWI stock index, as part of its quarterly index review. Adani Total Gas and Adani Transmission will no […]
Broker’s Call: Lupin (Buy)
[ad_1] Target: ₹825 CMP: ₹764.90 Sales were up 14.1 per cent y-o-y at ₹4,330 crore, majorly led by India business (+9.5 per cent y-o-y), APAC (15 per cent y-o-y), and API business (+46 per cent y-o-y) while US business remains flat at $175 on a QoQ basis. The US sales got impacted due to the […]
Broker’s call: Happiest Minds (Outperform)
[ad_1] Choice International Target:₹1,096 CMP: ₹846.75 Happiest Minds reported Q4-FY23 revenues at ₹378 crore (3.2 per cent lower than our estimates), up 25.8 per cent y-o-y and 3 per cent q-o-q. Revenue in cc grew by 1.3 per cent QoQ and 17.6 per cent y-o-y to $46 million (+1.4 per cent q-o-q and +15.2 per […]
JSW Infra files DRHP to raise up to ₹2,800-cr via IPO
[ad_1] JSW Infrastructure, the ports business of the JSW Group, has filed the draft red herring prospectus with SEBI for an initial public offering. The ports business of Sajjan Jindal-led JSW Group plans to raise ₹2,800 crore through the IPO route. The company plans to deploy these funds to retire its debt and fund its […]
Fincare Small Finance Bank eyes primary issuance of ₹625 cr
[ad_1] Proceeds from the proposed initial public offering (IPO) of Fincare Small Finance Bank (FSFB) will strengthen its capital adequacy ratio from about 20 per cent as of March-end 2023 to about 23–24 per cent, according to the bank’s management. The bank plans to raise funds via IPO through the issue of equity shares of […]
Paytm gaining currency at bourses
[ad_1] Shares of One97 Communications, which operates the Paytm brand, jumped almost five per cent on Monday after analysts turned bullish on the stock as the company’s consolidated loss narrowed down to ₹168 crore in the March quarter. After hitting an intra-day high of ₹729.35 , the stock closed at ₹723.60 — a gain of […]
RR Kabel files draft IPO papers to raise Rs 225 crore through fresh issue of equity
[ad_1] Ahmedabad, May 8 Branded wires and cables maker, RR Kabel Ltd, on Friday filed draft papers for an initial public offering to raise up to Rs 225 crore through a fresh issue of equity and an offer-for-sale from the existing shareholders, including PE player TPG Asia VII SF Pte. Ltd. The fresh issue aggregates […]
Adani probe: SEBI lens on Hindenburg for possible short-selling breach
[ad_1] Even as SEBI has formed a prima facie view on 12 transactions carried by Adani Group, it is also examining potential violation of short-selling norms in India by Hindenburg Research. The US-based firm had made several allegations against Adani group but had acknowledged that it wanted to short Adani stocks. SEBI has analysed and formed […]