Since September 20, most stocks on the BSE 500 index have shed their gains on corporate default fears, PMC crisis and Q2 earnings
Moneycontrol's Sakshi Batra does a 3 Point Analysis of how the stake sale of the FMCG arm will affect Emami group.
The necessary definitive agreement will be signed among the parties shortly.
The company's total income was down at Rs 7.87 crore in the period under review from Rs 13.26 crore a year ago.
After its merger with non-banking finance company Capital First, IDFC is trying to sell some of its 'non-core' assets
Tata Teleservices Ltd (TTL) has also offered to pay USD 320 million or about Rs 2,360 crore to ATC Telecom Infrastructure Pvt Ltd (ATC TIPL) for termination of lease obligations following closure of its mobile services business and it affiliates, according to a regulatory filing by ATC.
IDFC Ltd, IDFC Financial Holding Company Ltd (IDFC FHCL) and IDFC Infrastructure Finance Ltd (IDFC IFL) have entered into a definitive agreement with National Investment and Infrastructure Fund II (NIIF II) in this regard, IDFC said in a regulatory filing.
The company had registered a net profit of Rs 146.54 crore in the July-September period of 2017-18.
However, the regulator noted that Jain has paid Rs 35.40 lakh towards the disgorgement amount and the balance amount of Rs 19.37 lakh along with the interest of 10 percent is yet to be paid by him.
For the full financial year, the company posted a net profit of Rs 589.65 crore, a decline of 16 percent, as against a net profit of Rs 699.09 crore in the previous fiscal.
The non-banking financial company could see a boost from growth in assets
IDFC has begun discussions with IndusInd Bank and Citic CLSA, among others, to merge or sell its AMC
The Nifty50 futures on the Singapore Stock Exchange were trading 119 points higher at 10333 indicating a gap-up positive opening for the domestic market.
"The whole process will take about six to nine months to start operating," said V Vaidyanathan, the executive chairman of Capital First here.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Infosys, Bata India and TCS and can sell DHFL and LIC Housing Finance.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Eicher Motors, Tech Mahindra, Interglobe Aviation, Vedanta, ICICI Prudential Life Insurance and Bata India and can sell IDFC and India Cements.
Gaurav Bissa, Derivatives Analyst at LKP Securities is of the view that one can buy TVS Motor Company and IDFC and can sell Federal Bank.
Talking about the synergies of the combined entity, V Vaidyanathan, Chairman & MD, Capital First said they would be carrying capabilities of creating retail asset.
IDFC, KECL, Mastek are on the radar of Prabhudas Lilladher
Banking sector during the week saw more of disappointing news of job cuts, bad loans and NPA divergences raising questions on bank auditors. Further public sector banks reported losses due to rise in bad loans
R Thyagarajan of Shriram Group said both parties can explore the merger without the pressure of the exclusivity period.
Total income came down by 5.13 per cent to Rs 2,365.06 crore for the reported quarter as against Rs 2,493.04 crore in the year-ago period, IDFC said in a BSE filing.