CAPITAL MARKE
Vedanta may raise Rs 6,000 crore via QIP
Earlier in May, the board of the natural resources major had approved fund raising of up to ₹8,500 crore, which then got shareholder approval in June. The company could, however, raise a lower amount of around ₹6,000 crore, the people said. A final decision on the quantum of the share issue has yet to be taken.
Piramal Capital eyes up to $400 million via bond issue
The company is looking to raise $300 million initially, potentially increasing to $400 million if demand is strong, adopting a conservative approach to better understand market dynamics.
Goldman Sachs puts a $1 trillion question mark over Generative AI
A KPMG survey in the US found that executives expect Generative AI to have an enormous impact on business, but most say they are unprepared for immediate adoption.
Mumbai records luxury housing sales worth Rs 12,300 cr in January-June
The luxury housing market in Mumbai is experiencing significant growth, driven by a surge in sales of properties priced at Rs 10 crore and above. Sales in the first half of 2024 reached a record high of Rs 12,300 crore, marking an 8% increase compared to previous periods. Factors contributing to this trend include rising disposable incomes, favorable government policies, and strong interest from both domestic and international investors.
Equity market investors: A new powerful political constituency
India's financial shift includes 13.6 crore investors, about 10% affluent, driven by SEBI and smartphones. Participation extends beyond Maharashtra and Gujarat to states like Uttar Pradesh and Madhya Pradesh. Individual investor opinions shape economic policies. Retail investors hold an 18.5% listed share, contributing ₹25,000 crore via Securities Transaction Tax, despite risky leveraged positions.
Sebi puts SK Finance's Rs 2,200-cr IPO in abeyance
Capital markets regulator Sebi has kept in 'abeyance' the proposed initial share sale of vehicle finance and business loan-focused non-bank lender SK Finance. Without disclosing the reason, Securities and Exchange Board of India (Sebi) said "issuance of observations (has been) kept in abeyance" with regard to the IPO of SK Finance, an updated showed on the regulator's website on Monday.
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Dealmaker DAM Capital Advisors plans public issue
DAM Capital, led by Dharmesh Mehta, targets an IPO within six months, highlighting Mumbai's investment-banking growth. Managed by Nuvama Investment Banking, the IPO includes fresh capital and an offer for sale. DAM Capital, with significant public issues, QIPs, and secondary-market block deals, plans wealth management, PMS, AIF, retail broking to rival ICICI Securities and Motilal Oswal.
Chinese involvement in Hindenburg report? Senior lawyer Jethmalani's claim turns Adani saga into a spy thriller
Adani Hindenburg row: Senior lawyer Mahesh Jethmalani has alleged that a businessman with ties to China commissioned a report by Hindenburg Research, resulting in a significant decline in Adani Group shares in January 2023. Jethmalani claimed that Chinese spy Anla Cheng and her husband Mark Kingdon hired Hindenburg and used Kotak Mahindra Investments Limited to establish a trading account for short-selling Adani shares. This move, according to Jethmalani, led to substantial profits for them while causing financial harm to numerous Indian retail investors.
Beyond Kotak, is there a China connection to the Hindenburg exposé on Adani?
Social media is rife with claims that the wife of Mark Elliot Kingdon, the man on whom the spotlight fell following Sebi's revelations, has had ties with the Chinese Communist Party and thus China could be another actor in the Hindenburg saga.
Institutional investment in Indian real estate at $2.5 billion in Q2, marking a 3-year high
Private equity investments in Indian real estate hit a three-year high in Q2 2024, totaling $2.5 billion. The industrial and warehousing segment led with 61% of the total investments ($1.5 billion), driven by large deals. The residential segment saw a 7.5x increase from Q2 2023, making up 21% of total inflows. Office assets received $0.3 billion, showing a significant annual decline.
Fresh twist: Hindenburg gets Sebi notice for ‘shorting Adani shares’
Hindenburg termed the Sebi’s notice, dated June 26, as “nonsense, concocted to serve a pre-ordained purpose, an attempt to silence and intimidate those who expose corruption and fraud perpetrated by the most powerful individuals in India”. Apart from the research firm, its founder Nathan Anderson, Mark E Kingdon, Kingdon Capital Management, Kingdon Offshore Master Fund and K- India Opportunities Fund (KIOF) - Class F, too, were served the notice.
Promoter selling can cross Rs 1 lakh crore mark as retail investors buy using MFs
With retail investors continuing to be on a buying spree using the mutual fund route, the trend of stake sale by promoters in NSE500 companies looks on track to cross the Rs 1 lakh crore mark.
Warren Buffett donates record $5.3 bln Berkshire shares
Warren Buffett is donating another $5.3 billion of Berkshire Hathaway stock to the Bill & Melinda Gates Foundation and four family charities, his biggest annual donation since he began making them in 2006.
Prosus writes off investment in Byju's marking $493 million loss
Prosus writes off 9.6% stake in Byju's worth $493 million due to value decrease as per HSBC note. Also marks investment in Primrose Hill (ZestMoney) to zero against $38 million FY22.
INDIA bloc leaders to enter Lok Sabha together as mark of unity
The first session of the 18th Lok Sabha begins today, with Opposition INDIA bloc MPs showing unity by entering together. Newly elected MPs, including Prime Minister Modi, will take the oath, and the session is expected to be contentious with discussions on various issues. The Lok Sabha Speaker election is set for June 26.
INDUS-X defence initiative between US & India marks 1st anniversary
The India-US Defence Acceleration Ecosystem has marked the first anniversary of its initiative to build a defence innovation bridge under the Critical and Emerging Technology Initiative (iCET). Launched on June 21, 2023, during Prime Minister Narendra Modi's state visit to Washington, DC, INDUS-X enhances the strategic and defence partnership between India and the US. This initiative has bolstered private sector cooperation and facilitated partnerships among defence technology companies, investors, and researchers. The upcoming INDUS-X Summit in September 2024 will focus on leveraging private capital for defence innovation, further strengthening the India-US defence ties.
Pakistani stocks cross 80,000-mark for the first time, end lower
The index closed up by 0.08% after reaching an intraday record high of 80,059 points, marking a 1.6% increase. The market rally was primarily driven by the annual budget, which bolstered the likelihood of a new bailout from the International Monetary Fund, as anticipated by investors.
NEET Controversy: CLAT ad mocking medical, engineering exam goes viral, says 'Think beyond NEET, IIT-JEE'
NEET Result Controversy: In a major protest against alleged NEET exam irregularities, students demand the exam's cancellation and a thorough investigation. Amid this uproar, a viral newspaper ad encourages students to consider the Common Law Admission Test (CLAT) instead of NEET. The ad has sparked significant social media reactions, further intensifying the controversy surrounding the NEET results.
Nvidia overtakes Apple as world's No. 2 most valuable company
Nvidia's stock hits record high, surpassing Apple to become second most valuable company at $3 trillion. Silicon Valley chipmaker to split stock ten-for-one on June 7. Microsoft remains the world's most valued company with market value at $3.15 trillion.
Israelis mark Jerusalem Day amid renewed Gaza offensive
Thousands of Jewish nationalists, including far-right activists, marched through predominantly Arab neighbourhoods of the Old City, waving Israeli national flags, dancing and occasionally shouting inflammatory or racist slogans.
INDIA alliance leaders will meet on Wednesday to decide on PM face: Uddhav Thackeray
Shiv Sena president Uddhav Thackeray, buoyed by the Lok Sabha polls, pushes for forming the next government at the Centre.
Baron Capital marks up Swiggy valuation by 25% to $15.1 billion
Swiggy Valuation: Baron Capital, which participated in Swiggy’s $700 million funding round in January 2022 at a valuation of $10.7 billion, has raised the fair value of its holding in Swiggy for the fourth straight time. Crossover funds, i.e. funds which invest in publicly traded and privately held companies, review the valuation of their portfolio companies periodically.
Mall developers see opportunity in tier 2 cities
Brands include H&M, Marks & Spencer, GAP and Tasva set up shop in cities like Indore, Mangalore, Patna, Ranchi, Mysore, and Coimbatore, according to data from real estate consultancy CBRE.
Sebi tweaks framework for clearing corps on liquid assets; issues prudential norms for exposure
May 30 (PTI) Capital markets regulator Sebi has tweaked guidelines for accepting liquid assets as collateral by clearing corporations (CCs) and put in place prudential norms for exposure of such entities in a bid to strengthen the risk management framework.
Mark Mobius turns bullish on Chinese stocks amid recent rally
Mark Mobius turned bullish on Chinese equities, citing confidence in the recent rebound after advising investors to avoid them in April.
India adds record 10 GW of solar capacity in Q1 2024, marking almost 400 pc YoY increase
This figure represents an almost 400 per cent year-over-year (YoY) increase compared to the over 2 GW installed in Q1 2023, as per the recent Q1 2024 India Solar Market Update from Mercom India Research.
Peak power demand breaches estimated 235-GW mark for May
India's peak power demand surpassed the estimated 235 GW mark on May 23 due to heat wave conditions. Peak 'power demand met' reached 236.9 GW by 1500 IST, with the peak shortage yet to be analyzed.
Adani group m-cap regains $200 bn-mark as company rebuts coal invoicing allegations
While Adani group denied all allegations, the news report was cited by opposition leaders including former Congress president Rahul Gandhi to demand a probe by a joint parliamentary committee into the alleged wrongdoing.
Yuzvendra Chahal first India player to reach 350-wicket mark in T20 cricket
Yuzvendra Chahal is the fifth spinner to claim 350 wickets in the T20 format. Rashid Khan (572), Sunil Narine (549), Imran Tahir (502) and Shakib Al Hasan (482) are ahead of him.
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