Liquidity has improved, but 20 out of 24 NBFC stocks are staring at an over 5% reduction in 12-month target prices.
After two months of buying, foreign portfolio investors (FPIs) have turned net sellers in October by pulling out Rs 12,278 crore from Indian markets. As per depositories data, FPIs took out Rs 13,550 crore from equities but invested Rs 1,272 crore in the debt segment during October 1-29. The total net outflow stood at Rs 12,278 crore during the period under review.
Top no-frills carrier IndiGo on Tuesday approached capital markets regulator Sebi with Initial Public Offer.
To use proceeds from United Spirits stake sale.
The stellar rise in corporate earnings in financial year 2021-22 (FY21) and FY22 did not result in a corresponding boom in capital expenditure (capex), with listed companies' investment in fixed assets rising just 2.3 per cent year-on-year (YoY) in FY22, growing at the slowest pace in the last six years. In comparison, the firms' combined net profit jumped 63.5 per cent YoY in FY22, while net sales increased 31.1 per cent - the fastest pace in over a decade. The 955 non-financial companies in Business Standard's sample reported combined net profit of Rs 7.18 trillion in FY22, compared with Rs 4.39 trillion in FY21 and Rs 2.59 trillion in FY20.
After unseasonal rains, supply disruptions and pandemic-induced woes pushed retail inflation well over the Reserve Bank's comfort zone in 2020, the scenario is likely to stay that way at least in the short term as economic recovery slowly gains foothold. For most part of this year, pricier food items pushed the retail inflation, based on Consumer Price Index (CPI), higher in the range of 6.58-7.61 per cent, except for March when the reading was 5.91 per cent. Experts believe retail inflation is likely to average around 6.3 per cent this fiscal and mostly will remain sticky going forward owing to pick-up in demand across sectors.
Aptech, Lumax Industries, Vedanta, Indian Bank, Venky's India have appreciated over 200% in a year
Lewis Hamilton assured activists that he would not let human rights issues go unnoticed.
In interview with FSA in front of Sebi, mystery man denies owning UBS account used to execute $2.5-billion unauthorised trades.
The agreement says UB Group and Adventz will have the right of first refusal over each other's shares.
India's second largest IT services company Infosys on Wednesday said its consolidated net profit grew by 11.9 per cent to Rs 5,421 crore for the September 2021 quarter. Infosys had clocked a net profit of Rs 4,845 crore in the same period last fiscal, according to a regulatory filing. The Bengaluru-based company saw its revenues rising by 20.5 per cent to Rs 29,602 crore in the quarter under review (Q2FY22) from Rs 24,570 crore in the year-ago period.
Vijay Mallya, during the past two days, had ceded a marginal stake in it, allowing Heineken to be the single largest shareholder.
The Department of Disinvestment, which is looking at mopping up Rs 40,000 crore (Rs 400 billion) from the sale of shares in public sector units this fiscal, has raised about Rs 1,325 crore (Rs 13.25 billion) so far.
The board of directors will review the position of Vijay Mallya, under self-exile in Britain, at its next meeting on August 12.
The next 12 months will be quite challenging marked by uncertain political events and evolving macroeconomic scenario
Officials of 17 banks which gave loan to Kingfisher Airlines and UB Group are also under the agency's scanner
First case filed after new norms come into force, NCLT admits plea.
Analysts cautious on outlook, expect earnings to remain under pressure over medium term.
IndiGo had debt of Rs 3,912 crore at end of the June quarter.
The government cleared the proposal despite opposition from the petroleum ministry, which says this is not the right time for divestment as the sector is moving from trade parity to export parity pricing.
Market players said the sell-off was triggered by pessimism that the government may not be able to balance growth with macro-stability.
Being one of the early commentators to flag economic slowdown and caution investors on corporate earnings, Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction.
Poddar-Mallya agreement on running MCF likely to be re-worked.
The enforcement agency is looking to ensure that no big deals or transactions, such as the one Mallya struck with Diageo for Rs 500 crore, take place.
RBI is committed to bringing down retail inflation to eight per cent by January 2015 and six per cent by January 2016.
UB Group Chairman Vijay Mallya's grip on United Breweries slipped further on Thursday, after lenders to UB Group companies offloaded a part of the stake in Kingfisher beer that was pledged to them.
If they encash shares, Dutch major Heineken will emerge as single largest shareholder in the company.
Investment bankers handling the IPO had said marquee global investors made big-ticket applications.
The money was paid to Mallya in two tranches in his offshore accounts.
Rupee, bonds may see knee-jerk reaction, as Urjit Patel is considered an inflation warrior
The move also invalidates, albeit temporarily, Mallya's repeated assurances to the court and the public of a revival plan for the carrier.
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Diageo, which recently coughed up a total of Rs 18,000 crore (Rs 180 billion) to take majority control of USL, seems to have a lot of faith in him.
Nearly 45 per cent of this value is likely to be delivered by 3 sectors - consumer goods and retail, agriculture and banking and insurance, the Nasscom report said.
This lawsuit will have no bearing on its fund-raising exercise as a deal is already in final stages
Experts believe volatility is here to stay for some time, at least till China stabilises and clarity regarding the US Fed's interest rate move emerges.
Confirming the sale, senior executives of public-sector banks said there was no court directive yet to stop selling shares.
The US market regulator has charged three individuals, including an investment banker with UBS, for running an insider trading ring.
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Lawyers say open offer must for twin stake purchase to meet Sebi rules.
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