The Adani Group is likely to launch next week an open offer worth Rs 31,000 crore to acquire 26 per cent stake each in Swiss firm Holcim’s two Indian listed entities Ambuja Cements and ACC, from public shareholders. In May this year, the Adani Group announced that it has clinched a deal to acquire a …
By Ashley Coutinho The Securities and Exchange Board of India (Sebi) may tighten regulations for mutual funds and alternative investment funds (AIFs) in its upcoming board meeting. The chiefs of at least three different fund houses have come under regulatory glare in the past few months. The regulator may pronounce direct action against these CEOs …
Rakesh Jhunjhunwala-owned Federal Bank stock could be gearing up for a 13% rally in just three months, analysts at ICICI Direct said in a report. The brokerage firm has picked the banking sector stock as their quant pick, backed by derivative and quantitative data. Federal Bank’s share price is up 26% so far this year …
State-owned Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) posted a combined loss of Rs 18,480 crore on holding petrol and diesel prices despite a rise in cost. According to stock exchange filings by the three fuel retailers, the losses were due to erosion in the marketing margin …
By Ashley Coutinho The alpha delivered by the mutual fund industry has declined in the past 15 years and active funds are struggling to beat their underlying benchmarks. Nearly 80% of the industry’s active assets under management (AUM) have outperformed the benchmarks over a 10-year period. However, only 40% have done so over three- and …
As is rightly said, the stock market of any country is the barometer of its economic growth, the story for India is no different. As we celebrate the 75th year of independence, a look back at Sensex narrates the tale of how India has grown from strength to strength. Started in 1986 on the BSE, …
By Vishwas Panjiar The world at large is grappling with the ongoing Covid -19 pandemic. While it may not be possible to gauge the human toll and economic fallout at this point, it is amply clear that China is fast losing its stronghold as the global factory owing to the trust deficit that exists today between …
Indian benchmark indices BSE Sensex and NSE Nifty 50 began the holiday-truncated week on a muted note. Both counter were trading marginally higher as gains in auto, metal and consumer stocks were offset by losses in financial and IT shares. Broader markets managed to move higher, with the Nifty Midcap 100 and Nifty Smallcap 100 …
Indian equity market benchmark indices were trading flat with some positive bias on Friday. BSE Sensex was up 53 points or 0.1 per cent at 60,351, while NSE Nifty 50 held above 17,950. Analysts at ICICIDirect maintain a positive stance and expect the Nifty to head towards their revised target to CY22 high of 18,350 …
Syrma SGS Technology’s Rs 840-crore IPO, which got subscribed 32.61 times on the final day of bidding, is likely to finalise the basis of allotment on Tuesday, 23 August. This was the first company in over two months to hit the market with an IPO. The portion reserved for qualified institutional buyers was subscribed 87.56 …