Business

Edtech Giant Grapples with Cash Crunch and Investor Pressure to Overhaul Leadership and Board. “Byju’s Rights Issue Fully Subscribed Despite 99% Valuation Cut; Founder to Invest $45-$46 Million to Preserve Shareholding” In a shareholder letter, Byju’s founder and CEO, Byju Raveendran, announced the successful subscription of the edtech firm’s rights issue, which aims to raise … Read more

Analysts Note: Banking Stocks Vital for Nifty’s Continued Upsurge, Despite Recent Flat Performance Post New High. The domestic benchmark showed a flat trend subsequent to the Nifty reaching an all-time high of 22,248 during the morning trade on February 21, mainly attributed to marginal gains in banking stocks. During the opening deals, the Sensex and … Read more

Union Bank of India’s Stock Rockets, Delivering Multibagger Returns of Over 111% in the Past Year, Far Outpacing the Benchmark Nifty 50’s 24% Gain During the Same Period. Shares of Union Bank surged by 6 percent in early trading on February 21, following the announcement of a Rs 3,000-crore qualified institutional placement (QIP) at a … Read more

In the latest developments from the Indian stock market, the Sensex surged ahead by 100 points, while the Nifty maintained its position around the 22,250 mark. The market rally was predominantly led by strong performances in the metal, realty, and banking sectors. Key Gainers on the Nifty: These prominent companies stood out as major gainers … Read more

Zee Share Price Plummets: Sebi Report Reveals ₹2,000 Crore Accounting Irregularity. Zee Entertainment Enterprises Ltd (ZEEL) faces a significant setback as the capital market regulator, Securities and Exchange Board of India (SEBI), reveals a substantial financial irregularity exceeding $240 million or approximately ₹2,000 crore in the company’s accounts, according to a recent report. Zee shares … Read more

JSW Steel Targets Production Capacity of 37 Million Tonnes by FY25, Eyes Expansion to 50 MTPA by 2030, Seeks Additional Raw Materials like Coking Coal. “JSW Steel in Talks for 20% Stake Acquisition in Whitehaven Coal’s Blackwater Mine, Valued at $750M-$1B” “JSW Steel is reportedly in discussions to acquire a 20 percent stake in Australia’s … Read more

Federal Bank’s Stock Dips 8% in Intra-day Trading Amid Investor Profit Booking; Market Weakness Prevails. Intra-day Trading Sees Federal Bank Shares Slide 8% Amid Profit Booking; Nifty Bank and Nifty Also Slip 0.2%. The stock plummeted by as much as 7.9 percent to reach an intra-day low of ₹150, marking a 10 percent deviation from … Read more

“Vibhor Steel Tubes IPO: Stock Opens at Rs 425 on NSE and Rs 421 on BSE, Surging Past Issue Price of Rs 151” “Vibhor Steel Tubes Makes Stellar Debut with 181% Premium Over IPO Price Vibhor Steel Tubes experienced a remarkable debut on the stock exchanges, listing at a staggering 181% premium over the IPO … Read more

Zee Entertainment Enterprises Ltd (ZEEL) Surges Over 7% as Merger Talks with Sony Group Resumed Shares of debt-laden ZEEL saw a notable rally of over 7% to reach a day’s high of Rs 192 on Tuesday. This surge comes as the media conglomerate reinitiates discussions for a merger with Sony Group, following the cancellation of … Read more

Citi Analysts Highlight HDFC Bank’s Focus on Sustainable Franchise Building, Emphasizing Balanced Profitable Growth. Citi Grants ‘Buy’ Rating to HDFC Bank, Sets Target Price at Rs 2,050 per Share, Signaling a 44% Upside from Previous Close of Rs 1,417. Analysts Trust in the Bank’s Strong and Sustainable Franchise, Anticipating Profitable Growth in the Future. Despite … Read more

“The Defence Acquisition Council’s push for indigenous weaponry and equipment has resulted in a notable uptick in procurement from Indian defence firms. This strategic shift underscores the government’s commitment to bolstering domestic defense production capabilities.” “As part of its initiative to promote domestically manufactured military hardware, the Defence Acquisition Council has spurred a surge in … Read more

One97 Communications, the parent company of Paytm, witnesses consecutive upper circuit as shares soar by nearly 5% to trade at 376.25 on both BSE and NSE early Tuesday morning. This follows Monday’s upper circuit with a closing value of 358.35. “As the market opened on Tuesday, One97 Communications, the company behind Paytm, continues its bullish … Read more

On February 19, 2024, the stock of Life Insurance Corporation of India (LIC) rose by 2% on the National Stock Exchange following a refund of Rs 21,740.77 crore from the Income Tax Department received by the insurance firm on February 15, 2024. This refund pertains to assessment years 2012-13, 2013-14, 2014-15, 2016-17, 2017-18, 2018-19, and … Read more

With Tata Group companies’ combined market capitalization reaching a staggering $365 billion, the conglomerate’s financial prowess has notably eclipsed Pakistan’s estimated GDP of approximately $341 billion, as reported by the International Monetary Fund (IMF). This milestone underscores Tata’s commanding presence in the global market, signaling significant implications for both the conglomerate and the broader economic … Read more

Whirlpool Corporation made a significant announcement on November 30, 2023, revealing its intention to divest up to 24 percent of its ownership stake in Whirlpool of India Ltd. This strategic move is part of Whirlpool Corp’s proactive measures to alleviate debt burdens and strengthen its financial position in the market. Whirlpool Mauritius Ltd, a promoter … Read more

All sectoral indices on the Nifty are trading positively, with gains across the board, except for Nifty realty, which has experienced a decline of 0.74%. Nifty 50 has reached a new high at 22,144, marking a gain of 103.30 points or 0.47%. Meanwhile, the BSE Sensex has risen by 288.03 points or 0.40%, currently trading … Read more

Paytm Stock Price: Several brokerage firms have downgraded the Paytm stock following RBI action. Paytm Share Price: Paytm shares rose by 5 percent as the stock hit the upper circuit for the second consecutive session. This increase coincided with the company’s partnership with Axis Bank for settling merchant payments, wherein it shifted its nodal account … Read more

Shares of the leading railway rolling stock manufacturer surged by up to 8 percent after the company secured an order worth Rs 170 crore from the Ministry of Defence. With a market capitalization of Rs 13,615.52 crore, shares of Titagarh Rail Systems Ltd were trading at Rs 1,011.00 per share, marking an increase of approximately … Read more

Adani Group, an Indian conglomerate, is reportedly in advanced discussions with sovereign funds in West Asia to raise up to $2.6 billion for its airport expansion and green hydrogen projects. The Adani Group is targeting an EBITDA (earnings before interest, tax, depreciation, and amortization) of ₹80,000 crore by March 2024. To attract potential investors, the … Read more