FINANCING SOLUTIONS
BofA Securities buys 6.37 lakh shares of smallcap multibagger Kellton Tech Solutions worth Rs 11 crore
This stock has skyrocketed 119% in the past year, leaving the Nifty's 25% gain in the dust. Year-to-date, it's up an impressive 81%, dwarfing the Nifty's 13% return.
MSME Day: Solutions to empower small enterprises amidst challenges
Ratnaafin and The Economic Times hosted the MSME Growth Conclave, emphasizing MSMEs' impact on Gujarat's economy. Topics included financial vigilance, credit scores, venture capital, compliance, women's entrepreneurship, infrastructure, and financial support from NBFCs. Key points were maintaining good CIBIL scores, honoring cheques, and leveraging digital banking for MSME growth.
Need to find out practical solutions to problems faced by states: NITI member Arvind Virmani
NITI Aayog member Arvind Virmani argued for practical solutions to state problems, stating that many like Rajasthan and Odisha have done well without special category status. He emphasized the importance of recognizing specific problems and finding pragmatic solutions in a democracy. Virmani noted that states like Andhra Pradesh and Bihar have been seeking special status since 2005, and that the 14th Finance Commission raised the share of states in taxes collected by the Centre to 42% but abolished special category states.
Ukraine solution can't be found on battlefield: PM
India and Russia discussed peaceful resolutions to the Ukraine conflict during an annual summit meeting in Kremlin on Tuesday. Prime Minister Narendra Modi addressed the issue with President Vladimir Putin, emphasizing the impact on innocent lives, particularly children, in war and terror attacks.
Pumps, pipes, credit, mass housing and employment generation could be the focus areas in Budget: Yogesh Patil
Manufacturing focus from government actually will create higher jobs and improve the per capita income. So, mass consumption category, which has not done well in last two years, is expected to do well in coming years.
JM Financial board okays plan to consolidate debt, distressed credit business under one platform
JM Financial will increase its stake in JM Financial Credit Services to 89.67% and JMFCSL will acquire 71.79% stake in JM Financial Asset Reconstruction Company from JMFL for Rs 856 crore.
Greaves Finance appoints P. B. Sunil Kumar as CEO to accelerate EV financing
Greaves Finance, a Greaves Cotton subsidiary, appointed PB Sunil Kumar as Executive Director and CEO effective July 3, 2024. He will advance financing for electric two-wheelers via the evfin platform. With 25 years' experience, including positions at Taiki Consulting, Tata Finance Ltd, ICICI Bank, and GE Capital Services India, Kumar is also a chartered accountant.
MSMEs are on sustainability path but profitability focus can make the move faster
MSMEs contribute a big part to India’s manufacturing output and hence, it becomes critical they adopt energy-efficient technologies to reduce operational costs.
73% IPOs trading above issue price as primary market shines in H1, four turn multibaggers
The fundraising of Rs 26,272 crore, however fell short of the previous two years likely due to the absence of mega issues. Investors' reception also remained positive with only one failed IPO.
MMRDA inks Rs 850-crore urban infra financing pact with German development bank KfW
The funds procured from KfW and MMRDA's resources will be primarily allocated towards various sustainable development projects within and around the Mumbai Metropolitan Region. These initiatives include the development of green corridors, solid waste management systems, recycling and reuse facilities, and the promotion of renewable energy solutions to address environmental concerns and enhancing the quality of life for residents in the bustling metropolitan area.
Going forward, expect good growth from Aadifidelis Solutions: Shikhar Aggarwal, BLS International
Shikhar Aggarwal, Joint MD, BLS International Services talks about inclusion in Nifty tourism index, synergies from buying stake in Aadifidelis Solutions and more. Aggarwal also discusses the major contract renewals which are expected in the next six to nine months. He also says that in one, one-and-a-half years, multiple contracts are expected from European and North American markets
MSMEs & green finance: How fintechs can help small businesses adopt sustainability
Small businesses need green finance to offset their environmental footprint. This is the only way to make the domestic industry more climate-friendly.
Veefin announces strategic stake in Regime Tax Solutions through its subsidiary
Supply Chain Finance company Veefin has announced a strategic stake in Mumbai-based Regime Tax Solutions.
Jio Financial Services launches app to take on its fintech rivals
Jio Finance will offer UPI payments, bill payments, insurance advisory and digital banking. Eventually Jio Financial Services will offer credit products like loans against mutual funds, home loans and others to its customers through the app.
Mahindra & Mahindra Finance secures IRDAI license to offer tailored insurance plans
The corporate agency license would help in broadening Mahindra Finance’s product portfolio by incorporating insurance solutions. It would help customers with their financial and insurance needs being met by a single entity. The process would augment the company’s existing sources of revenue and profits as it deploys its common infrastructure of branch network and feet on street.
DXC Technology tumbles 18% as investors fret over latest restructuring plan
Shares of DXC Technology slumped 18% on Friday, after the IT services provider unveiled a new revamp and forecast fiscal 2025 revenue and profit below estimates.
Vedanta subsidiary raises pricey Rs 1,804 crore debt to lend to parent
Vedanta Semiconductors, a wholly owned subsidiary of Vedanta, raised Rs 1,804 crore in debt from private creditors such as Varde Partners and Davidson Kempner. The proceeds will be used to lend to Vedanta Ltd to repay its debt, said people with knowledge of the matter.
Retik Finance sets 21st May 2024 as launch date
Retik Finance's upcoming launch on May 21, 2024, signifies a major advancement in the DeFi realm. With innovative products and strategic positioning, it aims to revolutionize the financial ecosystem, attracting investors and users alike.
Tata Motors ties up with South Indian Bank for commercial vehicle finance
Tata Motors has partnered with South Indian Bank to provide financing solutions for its commercial vehicle customers and dealerships. The partnership is part of a Memorandum of Understanding, aiming to empower fleet owners and dealerships to achieve their business goals. The partnership will offer financing solutions across Tata Motors' entire commercial vehicle portfolio.
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