IIFL Finance, a prominent non-banking financial company (NBFC), announced on Wednesday that its board has unanimously approved a rights issue to raise up to ₹1,500 crore in capital. This decision comes despite recent regulatory restrictions imposed by the Reserve Bank of India (RBI), prohibiting the NBFC from approving or disbursing gold loans. In a regulatory … Read more
Vodafone Idea, a leading player in the Indian telecommunications sector, has recently made a strategic decision regarding the renewal of spectrum licenses in specific regions. The company has chosen not to renew fractional spectrum licenses in the 900MHz and 1800MHz bands across certain areas, citing compatibility issues with its latest network technology as the primary … Read more
Vedanta, a leading mining conglomerate, announced its intent on Wednesday to challenge an order issued by the Securities and Exchange Board of India (SEBI), which mandates the payment of a hefty penalty of ₹77.6 crore to Cairn UK Holdings Ltd. The Scottish exploration company lodged the penalty claim against Vedanta, citing a delay in dividend … Read more
Tata Motors, one of India’s leading automobile manufacturers, announced on March 13th that it has inked a memorandum of understanding (MoU) with the Tamil Nadu government. The purpose of this agreement is to establish a state-of-the-art vehicle manufacturing facility within the state. According to a regulatory filing by Tata Motors, the MoU outlines plans for … Read more
Reliance Industries Limited (RIL) has recently entered into a definitive agreement with two subsidiaries of Paramount Global, signaling its strategic move to acquire a substantial 13.01% equity stake (on a fully diluted basis) in Viacom 18 Media Private Limited (commonly known as Viacom18). The transaction, valued at a significant Rs. 4,286 crore, underscores RIL’s firm … Read more
Paytm began its round of layoffs about two weeks ago, coinciding with the Reserve Bank of India’s restrictions on Paytm’s Payment Bank, which have resulted in the suspension of several key business operations. Additionally, the layoffs at Paytm have already commenced, with reports indicating that the company’s decision comes amidst regulatory constraints imposed by the … Read more
Early Wednesday trading saw Dow Jones futures exhibiting marginal changes, reflecting the overall stability observed in S&P 500 and Nasdaq futures. Despite the release of a core CPI inflation reading on Tuesday that surpassed expectations, the stock market rally continued to show resilience. Notably, Oracle (ORCL) surged following earnings, while Nvidia (NVDA) rebounded. While major … Read more
Amidst turbulent market conditions witnessed by the Sensex and Nifty, domestic institutional investors (DIIs) demonstrated a robust show of confidence by purchasing shares worth Rs 9,093.72 crore on March 13. In stark contrast, foreign institutional investors (FIIs) were net sellers, offloading shares amounting to Rs 4,595.06 crore on the same day, as per provisional data … Read more
Investor apprehension continues to grip the market as the advance-decline ratio, a pivotal gauge of market health, persists below the critical threshold of 0.4 for the third consecutive trading day. This sustained imbalance, where the number of declining stocks significantly outweighs the advancing ones, underscores the prevailing pessimism among market participants and signals a deepening … Read more
British American Tobacco’s (BAT) subsidiary, Tobacco Manufacturers India, concluded a significant stake sale in ITC Limited by offloading 43.68 crore shares, equivalent to a 3.50 percent equity stake, at a price of Rs 400.25 per share. This transaction, totaling Rs 8,742.48 crore, marked BAT’s strategic move to divest its holdings in ITC. BAT executed a … Read more
In an interview with The Economic Times on March 13, PSMC Chairman Frank Huang disclosed that the inaugural semiconductor chip from the joint venture between the Tata Group and Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC) is slated to launch by the end of 2026.” Huang, aged 74, revealed that while the specifics of the partnership … Read more
Shares of Jubilant FoodWorks, the company behind Domino’s pizza chain and Popeyes, dipped by more than 2 percent to Rs 433 on March 13th as brokerages offered a mixed assessment of the company’s recent acquisition of Turkey (DP Eurasia) and Bangladesh businesses. Analysts expressed caution over the company’s increasing debt burden as it seeks to … Read more
Adani Group’s Sell-Off Escalates as Stocks Plummet Up to 13% Amidst Weak Market Sentiment on March 13. All 10 Adani Counters Suffer Losses, Erasing Approximately Rs 90,000 Crore in Combined Market Capitalization by Noon. Adani Green Energy Takes the Hardest Hit, Tumbling 13% to Reach an Intraday Low of Rs 1,650 per Share on the … Read more
The Signoria Creation IPO opened for subscription on Tuesday, March 12, and will close on Thursday, March 14. Priced in the range of ₹61 to ₹65 per share of face value ₹10 each, the IPO offers a lot size consisting of 2,000 shares. Investors can bid for a minimum of 2,000 shares and in multiples … Read more
In a significant development for the renewable energy sector, SJVN Green Energy Limited, a subsidiary of SJVN Limited, has clinched a monumental deal worth ₹2,700 Crore from Gujarat Urja Vikas Nigam Limited (GUVNL) for the establishment of a state-of-the-art 500 MW Solar Power Project. The project is part of GUVNL’s Phase -XXI initiative and is … Read more
Amidst a backdrop of global market uncertainty, the Sensex struggled to gain momentum today as stocks faced declines following a record-breaking session on Wall Street. The pause in a rally in China and slipping Japanese shares amidst rate-hike speculations contributed to the challenging market conditions. In mainland China, shares dipped, impacted by Country Garden Holdings … Read more
On March 13, Nazara Technologies announced its plan to allocate $100 million (approximately Rs 830 crore) for mergers and acquisitions over the next 24 months. As the oldest gaming company in India, Nazara aims to bolster its global presence through strategic investments, marking a significant move towards expansion. The company is actively seeking investment opportunities … Read more
In a landmark event marking a significant stride towards India’s technological sovereignty, Tata Group Chairman Natarajan Chandrasekaran celebrated the pivotal role played by PSMC in broadening the nation’s access to a diverse array of cutting-edge technologies. Addressing the gathering at ‘India’s Techade: Chips for Viksit Bharat’, Chandrasekaran emphasized the transformative impact of semiconductor plants, positioning … Read more
Despite retail inflation in February meeting expectations at 5.09%, the surge in vegetable prices, particularly driven by soaring onion prices, has led to a substantial increase in food inflation, reaching 8.66%. Analysts now predict that the Reserve Bank of India (RBI), which has been focused on achieving a 4% inflation target, will likely maintain the … Read more
The small- and mid-cap segment is witnessing a downturn in sentiment, with a significant portion of stocks slipping into the red. Over 80 percent of stocks in the BSE Small-cap index have registered negative returns since February 19, coinciding with the index’s downward trend. In contrast, the Nifty has seen a marginal uptick of nearly … Read more