EQUITY SHARE
Torrent Power seeks shareholders nod to raise up to Rs 5,000 cr via equity shares
The generation of internal funds may not be adequate to meet all the requirements of the company's growth plans, it stated, adding that the requirement of funds is proposed to be met from both equity and debt from issuance of appropriate securities and from both domestic and international markets.
Markets on bullback, no pullback from 80,000 milestone
Sensex hit 80,000, led by TCS, Infosys, and banks like Kotak Mahindra. Nifty reached 24,302.15, driven by pre-budget CapEx expectations. Markets show bull indications, driven by private banks and tech. Confidence from policy consistency, expected social welfare spending, and strong investor sentiment; budget is likely in July.
GIFT Nifty signals a negative start for D-Street. Here's the trading setup for today's session
Equity markets saw slight gains and traded within a limited range on Thursday. Analysts noted that the release of preliminary business updates ahead of quarterly reports is boosting confidence in strong Q1 earnings.
Lupin shares jump 6% after Kotak Equities’ double upgrade, target price at Rs 1,805
Kotak Equities highlights that Lupin has a bunch of products lined up, which will ensure a limited earnings dip in FY2027E after a strong FY2026E, however, they remain cognizant of not ascribing a high multiple to one-off earnings.
Big movers on D-Street: What investors should do with YES Bank, DMart and L&T
YES Bank shares consolidated below Rs 25 resistance, trending downwards with support at Rs 23. Expectation of range-bound trading between Rs 23-25; breakout above Rs 25 could target Rs 27.50 and Rs 28.
Asian stocks climb, Yen rallies off historic lows: Markets wrap
Investors await US jobs report and British election outcome. Unemployment rate expected to remain steady. Chicago Fed President comments on interest rates.
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This Ashish Kacholia-backed multibagger stock to split one equity share into 10
On Wednesday, Aditya Vision closed at Rs 4,572.95, up by Rs 93.75 or 2.09%. On Monday, it hit a 52-week high of Rs 4,800. Over the last 12 months, this stock has delivered multibagger returns of 186%. In 2024, its returns so far stand at 33%.
Big movers on D-Street: What investors should do with Kotak Bank, Solar Industries, and Max Health
Equity indices Sensex and Nifty hit lifetime highs but closed flat amid profit-taking in the banking and telecom sectors. Solar Industries rose 8.23%, Kotak Bank fell 2.49%, and Max Health dropped 4.46% Wednesday.
Tesla shares rally over 10% as quarterly deliveries beat estimates
Tesla on Tuesday reported a smaller-than-expected 5% drop in vehicle deliveries in the second quarter, as the electric-vehicle maker's price cuts and incentives helped stimulate demand.
Kotak Equities initiates coverage on JB Chemicals with a target price of Rs 2,025
“Having primarily grown organically until FY2022 and later on aided by benefits from acquired brands, JB has handsomely outperformed the IPM in the past decade by ~600 bps and currently ranks 22 in the IPM,” said Alankar Garude, Analyst at Kotak Equities.
Kotak Institutional Equities initiates coverage on Coforge, sets Rs 6,000 as target price
Kotak analysts anticipate a robust 20.2% CAGR in earnings per share for FY2024-27E. This growth is driven by a 12.3% organic revenue CAGR and a 150-basis point expansion in EBIT margins.
MapmyIndia shares fall 6% after promoter likely offloads stake
Shares of CE Info Systems-owned MapmyIndia fell by 6% to day’s low of Rs 2,271 on BSE after the company’s promoter Rakesh Verma reportedly offloaded equity stake via a block deal on Wednesday.
Ambuja Cements, Ravi Sanghi to offload 3.52 pc stake in Sanghi Industries
Ambuja Cements and Ravi Sanghi plan to sell a 3.52% stake in Sanghi Industries through an OFS. The sale will occur over two days on June 26 and June 27, 2024. Adani group firm Ambuja Cement acquired a majority stake in Sanghi Industries last year, with shares peaking at Rs 151.85 on January 15, 2024.
Amara Raja shares rally 20% to fresh highs as company signs agreement for lithium ion batteries
Amara Raja Energy partners with Gotion High-Tech for advanced cell manufacturing, accessing technology, Gigafactory facilities, and battery materials. Collaborations with InoBat strengthen LiB battery development.
Kotak Institutional Equities bets on Godrej Agrovet’s turnaround story, sees upside potential of over 9%
Godrej Agrovet (GAVL) shifts focus to value-added segments with cost-cutting measures. Kotak Institutional Equities upgrades stock to 'buy' with target price of Rs 740, expecting sustainable turnaround in crop protection and dairy sectors.
Private equity firm Olympus to sell upto 10% stake in Aster DM Healthcare on Friday
Olympus Capital Asia Investments is set to trim its stake in Aster DM, with a base offering of 2.5 crore shares, representing 5% of the company. Olympus currently holds a 10.1% stake in Aster DM.
WestBridge Capital sells 1.7% stake in AU Small Fin Bank for Rs 845 crore
WestBridge Capital divested a 1.7% stake in AU Small Finance Bank for Rs 845 crore through an open market transaction, impacting its shareholding in the bank significantly. Goldman Sachs Investments Mauritius I acquired a substantial number of shares in the same bank.
Axis Group ups stake in Max Life Insurance to 19.99%
Axis entities, including Axis Bank, Axis Capital, and Axis Securities, increase stake in Max Life Insurance to 19.99% from 19.02% with ₹336 crore acquisition, pending regulatory approval; Max Life's FY24 gross premium income stands at ₹29,529 crore.
Sansera Engineering shares jump over 7%, hit 52-week high amid block deal
Sansera Engineering shares surged 7.3% to hit a 52-week high at Rs 1,300 on BSE following a block deal. Foreign institutional investors hold 22.11% stake, promoters 35.03%, and mutual funds 17.56%.
FPIs offload Indian equities worth Rs 3,064 crore in June so far
This trend continued from May and April, when FPIs sold shares worth Rs 34,257 crore, even as domestic institutional investors (DIIs) remained buyers, supporting the markets.
Is the stock market closed today for Eid-al-Adha (Bakri Eid) holiday?
Share Market Holiday: Apart from Bakri Eid (June 17), in 2024, the markets will be shut for Muharram (July 17), Independence Day (August 15), Mahatma Gandhi (October 2), Diwali (November 1), Gurunanak Jayanti (November 15) and Christmas (December 25).
Goldman Sachs boosts S&P 500 target on upbeat profit outlook
Goldman Sachs Group Inc. raises S&P 500 year-end target to 5,600, reflecting optimism for earnings growth and the US economy.
Voda Idea approves preferential allotment of equity worth Rs 2,458 crore to Nokia, Ericsson
The decision was taken at a meeting on Thursday and the announcement was made after market hours. In its filing to the exchanges, the company said upto 1,02,70,27,024 equity shares of face value of Rs 10 apiece will be issued at a price of Rs 14.80. Besides, Vi will also issue upto 63,37,83,780 equity shares at an issue price of Rs 14.80 per unit that includes a premium of Rs 4.80 apiece to Ericsson India.
Vodafone Idea may issue equity shares to Nokia, Ericsson to settle dues
Telecom company Vodafone Idea (Vi) has said that itrs board will meet on Thursday to consider issuing equity shares or convertible securities on a preferential basis to its vendors.
FPIs stay bullish on growth stocks, cut defensive bets a bit
Foreign portfolio investors have been selling Indian shares ahead of the elections, focusing on growth stocks over defensive ones. Data from NSDL shows a decline in FMCG and IT sector weightage in FPIs' equity folio.
Hot Stocks: Brokerage view on Wipro, IndiGo, UNO Minda and GAIL
Domestic brokerage Kotak Institutional Equities has a buy rating on IndiGo with a target price of Rs 5,700. The probability of Indigo breaching margin peaks is increasing. Most challengers to IndiGo will see another year of stiff losses in FY2025.
FPIs dump auto, FMCG and power stocks in second half of May
In late May, foreign investors drove a surge in automobile sector sales, offloading shares worth ₹3,323 crore, while also divesting ₹13,350 crore across multiple sectors. The NSDL data highlights a stark shift from earlier in the month, with inflows of ₹1,119 crore in April and ₹29,389 crore in CY 2023, underscoring a dynamic market landscape.
Bajaj Finance Housing Fin arm to raise Rs 4,000 crore
Bajaj Finance's housing finance arm is set to raise ₹4,000 crore via an initial public offering (IPO) to meet RBI mandates, as confirmed by the company in a stock exchange filing.
PB Fintech shares climb over 5% amid block deal
PB Fintech, an online insurance aggregator, saw its shares surge by 5.2% to Rs 1,360 in Thursday's trading on the BSE following a block deal. This transaction, valued at around Rs 428 crore, represented a 0.73% stake in the company.
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