BUSINESS
How Tata Group market cap grew 17x, revenue 30x under Ratan Tata’s chairmanship: From legacy to global powerhouse
Tata group, with its listed entities’ combined market capitalisation at Rs 30 lakh crore now, saw a dramatic growth with Ratan Tata's strategic decisions and well-timed acquisitions.
BUSINESS
How Nifty, Bank Nifty are set up ahead of RBI policy today; what FIIs, DIIs bought or sold in derivatives market
The Nifty derivatives data shows a bullish sentiment ahead of the RBI Monetary Policy due today. Bank Nifty futures show a potential short covering rally. Traders are positioning for potential upward movement in both indices.
BUSINESS
SEBI’s F&O rules may curb volatility in indices, trim retail trading; large traders may adjust strategies
SEBI's new rules on Futures & Options trading could have a stabilising effect on the markets after unwinding of the current positions in October. The rules may reduce volatility, and drive some retail traders towards cash equity trading or MTF trading.
BUSINESS
Nifty set for more correction as geopolitical tensions, weak technicals weigh; here’s what market setup shows
Indian stock market is expected to face further downward pressure as the Nifty continues its corrective phase, having lost nearly 480 points over the last five trading sessions. Technical weakness in key sectors such as banking and finance may lead to further declines.
BUSINESS
LIC cuts stake in Mahanagar Gas by over 2% via open market sales, books healthy profit
Life Insurance Corp of India said it has sold about 21 lakh shares in Mahanagar Gas Ltd, cutting its equity stake by 2.1 percent. The insurance giant had accumulated those shares earlier at a much lower price.
BUSINESS
Swiggy's journey to Rs 10,000-crore IPO: A look at its growth, celebrity backing, and rivalry with Zomato
Investors will keenly eye a pie in the massive Rs 2 lakh-crore food delivery market. However, it faces a profitability challenge, amid competition from Zomato, BigBasket, and others.
BUSINESS
CDSL announces uniform tariff for debit transactions effective October 2024
CDSL will implement a uniform tariff of Rs. 3.50 per debit transaction from October 01, 2024, in line with SEBI’s regulations. Discounts will remain for female demat account holders and specific transactions.
BUSINESS
HDFC Bank loan growth may slow down to below 10%; Macquarie bullish, sets Rs 1,900 share price target
HDFC Bank's reported significant sell-down of loans may slow down its loan growth to below 10 percent. While that may be a part of the bank's strategy to maintain profitability, it may hit ratios in the short term.
BUSINESS
Punjab National Bank likely to launch QIP within a week to raise Rs 5,000-7,500 crore: CNBC Awaaz
PNB is set to hit the market as soon as this week with a Rs 5,000-7,500 crore equity issue to raise funds via a qualified institutional placement of shares. The issue may be at a discount of 5-6% from the market price.
BUSINESS
Inox Wind secures Rs 2,200 crore bank facilities, sheds group corporate guarantees; multibagger stock jumps
Inox Wind secured Rs 2,200 crore in banking facilities through a consortium led by ICICI Bank, without corporate guarantees from Gujarat Fluorochemicals. The limits may rise to Rs 2,400 crore, and previous guarantees by GFL will be vacated, reducing its contingent liabilities.
BUSINESS
NTPC Green Energy files DRHP for Rs 10,000-crore IPO, earmarks portion for NTPC shareholders; check quota
NTPC Green Energy's IPO is expected to fund NTPC's renewable energy push, including investments in solar energy, green hydrogen, and green ammonia. The IPO could be India's largest in the year 2024.
BUSINESS
Gift Nifty fails to hold Fed rate cut gains, trades flat; tracks S&P 500, Nasdaq’s rise and fall
On September 19, Gift Nifty was trading at around 25,400 in the early morning — nearly flat compared to the previous close. In US, the S&P 500 jumped 1 percent to an all-time high, but retreated to end 0.3 percent lower, driven by the US Fed rate cut.
BUSINESS
Risk-on for foreign investors: Fed rate cut done; valuation, earnings to drive FII sentiment towards India
Notwithstanding the US Fed rate cut, FIIs inflows into Indian markets will largely hinge on valuation, potential earnings growth, and sector-specific opportunities.
BUSINESS
US Fed cuts rate by 50 bps; Indian markets react cautiously amid global slowdown concerns
The big bank rate cut by the US Federal Reserve is expected to facilitate flows to the emerging market assets such as India with weaker dollar and lower rates.
BUSINESS
SBI raises Rs 7,500 crore via Basel III compliant tier-2 bonds at 7.33% coupon rate
SBI’s market valuation is well over Rs 7 lakh crore at the latest share price, while the stock has jumped nearly 24 percent so far this year since January.
BUSINESS
Bajaj Housing Finance shares hit 10% upper circuit, post-IPO gains at 159%; brokerage says ‘buy’, check target price
Bajaj Housing Finance share has got its first 'buy' rating after a record-breaking IPO and a bumper listing. PhillipCapital sees further upside in the stock, citing the firm's focus on the ‘desirable’ sweet spot for many home loan aspirants.
BUSINESS
Oberoi Hotels group to acquire Pune firm to develop Trident Hotel, commercial complex at about Rs 1,000 crore
EIH Ltd, the flagship company of the Oberoi group, will acquire a 51 percent equity stake in Pune-based hospitality and commercial real estate firm Muttha Towers II Pvt Ltd.
BUSINESS
Reliance Industries extends last date for paying call money on partly paid shares to October 7
Investors whose partly-paid shares will be forfeited will not be eligible for Reliance Industries' recently announced bonus issue on those shares.
BUSINESS
From August sell-off to September caution, analysts seem to be favouring safety and stability
Markets hit new highs in August but show signs of fatigue. Investors watch for potential US Fed rate cuts but worry about high valuations and yen strength. Analysts' find select opportunities amid valuation concerns in markets.
BUSINESS
Indigo Paints block deal: 25% stake sold for Rs 1,750 crore, Peak XV sells part equity; stock falls
Indigo Paints equity stake was sold in block deals on 6 September, with Peak XV Partners likely offloading a part of their shareholding.
BUSINESS
Indian Oil, BPCL, HPCL stocks get price target upgrades from Morgan Stanley; global, domestic tailwinds eyed
Morgan Stanley has raised target prices on India's PSU oil marketing stocks, citing global and domestic tailwinds like an oversupplied oil market and strong fuel demand. The brokerage sees HPCL as its top pick, expecting a 22% upside.
BUSINESS
US banks could link with India’s UPI to expand fast payments: Fed's Waller
The US may link some of its private banks to India’s Unified Payments Interface (UPI) to develop a fast payments network, said Federal Reserve Governor Christopher Waller. He noted that connecting with UPI could help address the US's current lack of sufficient bank connections.
BUSINESS
Fed Chair Jerome Powell signals interest rate cut at Jackson Hole: 'Time has come', inflation risk has shifted
The US Fed Chair Jerome Powell, at the Jackson Hole address, hinted at possible interest rate cuts, shifting focus from inflation to the labour market, as risks to employment rise.
BUSINESS
Sebi-Hindenburg controversy: A timeline of allegations, the Buchs’ defence and market reaction
Sebi chair Madhabi Puri Buch said she made all required disclosures, and no conflict of interest exists.
