MSCI removes two Adani cos from its key global indexes; no changes to Egypt stocks, others
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 longer […]
Broker’s Call: Lupin (Buy)
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 lack […]
Broker’s call: Happiest Minds (Outperform)
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 cent […]
JSW Infra files DRHP to raise up to ₹2,800-cr via IPO
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 capacity […]
Fincare Small Finance Bank eyes primary issuance of ₹625 cr
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 face […]
Paytm gaining currency at bourses
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 4.95 […]
RR Kabel files draft IPO papers to raise Rs 225 crore through fresh issue of equity
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 up […]
Adani probe: SEBI lens on Hindenburg for possible short-selling breach
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 its […]
Digital gold investment: A new era for investors
Modernisation is a way of evolution, and it penetrates every field. Gold is one field where we have recently seen many technology-based options coming up to serve our investment needs. The younger generation prefers accessibility, and gold in the digital format provides it along with the traditional value of gold investment still intact. Thus, digital […]
Most SIPs in mutual fund schemes fail to beat benchmarks
Notwithstanding the record-breaking inflows through systematic investment plan, most equity SIPs have failed to beat their respective benchmark index. Nearly 73 per cent of the flexi-cap, the most popular category among investors, have failed to beat their benchmark both over two- and 10-year as of April-end, according to data sourced from Fisdom, a leading online […]