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Mcap of 8 of top-10 most-valued firms jumps Rs 1.83 lakh cr; TCS, Infosys biggest gainers
The BSE benchmark rose 963.87 points, up 1.21%. Eight leading firms added Rs 1,83,290.36 crore, led by TCS, Infosys, Reliance, ICICI Bank, LIC, Hindustan Unilever, ITC, and SBI. TCS increased by Rs 38,894.44 crore, Reliance by Rs 32,611.36 crore. HDFC Bank and Bharti Airtel saw declines in market valuation.
For a handful of equity and shine, investors open 4.3 m Demat a/cs
In recent activity, nearly 3.9 million new investor accounts were opened with the Central Depository Services Ltd (CDSL), and an additional 0.4 million accounts were registered with the National Securities Depository (NSDL). By comparison, May witnessed a total of 4 million new accounts, while April saw 2.6 million new accounts.
Nirmal Bang initiates coverage on HUDCO, sees upside potential of 12%
Nirmal Bang starts coverage on HUDCO with a target price of Rs 375. Company projected to achieve 24.1% earnings growth CAGR by FY26E.
UK-based IT firm Noventiq scraps SPAC deal to list on Nasdaq
London-headquartered information technology firm Noventiq and special purpose acquisition company Corner Growth Acquisition have mutually agreed to terminate their blank-check deal, the companies said on Thursday. The two last year struck a SPAC deal that would have resulted in the combined company being publicly listed on U.S. exchange Nasdaq.
Mcap of BSE-listed firms hit all-time high of Rs 447.40 lakh cr
The market capitalisation of BSE-listed firms hit a record high of Rs 447.30 lakh crore on Thursday with the benchmark Sensex closing at a fresh all-time high level. The 30-share BSE Sensex scaled an intraday record high of 80,392.64 in early trade. The index pared most of the gains later due to volatility and profit-taking by investors and settled 62.87 points or 0.08 per cent higher at 80,049.67.
Japan's main stock indexes at record closing highs as banks, autos and techs rise
Japan's Topix and Nikkei hit record highs, led by gains in automakers, banks, and tech firms like Toyota, Honda, Mitsubishi UFJ, Advantest, and SoftBank. Yugo Tsuboi cited interest rates, a weak yen, and economic improvement. The TSE’s prime market saw 59% of stocks rise, with a positive corporate outlook expected, according to Daiwa Securities.
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Google buys stake in Taiwan solar power firm owned by BlackRock
Investing in New Green Power in Taiwan, I drive sustainable energy solutions for manufacturers, reducing Scope 3 emissions. This aligns with my commitment to carbon-free operations and environmental sustainability, supporting solar capacity growth in the region.
Sebi mulls relaxing some disclosure norms for listed firms
The Securities and Exchange Board of India (SEBI) is also evaluating giving listed companies more time to publicly disclose litigations or disputes that they are involved in, it said in a consultation paper published on Wednesday.
Wall Street’s smart-trade brigade thrashed again on stock boom
Despite financial institutions promoting complex investment strategies to clients worried about economic instability and Federal Reserve decisions, the most profitable approach remains the straightforward strategy of buying and holding onto the S&P 500 index.
Triveni Engineering buys addl 36.34 pc stake in sugar firm Sir Shadi Lal Enterprises for Rs 45 cr
Triveni Engineering & Industries Ltd acquires 36.34% stake in Sir Shadi Lal Enterprises Ltd for Rs 45 crore, enhancing its position as a major sugar producer. Vice Chairman Tarun Sawhney views the acquisition as a strategic move to boost Triveni's sugar and alcohol businesses.
BPEA credit raises Rs 375 cr in re fund
Private equity firm BPEA Credit closed the first round of its latest rupee fund, SSTIF-I, targeting ₹750 crore with a green shoe option. Kanchan Jain leads the fund with a unique yield profile for 10-12 investments in various sectors.
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.
Nifty bull case target at 27,100, says Prabudas Lilladher. Bets on Reliance, ITC
Domestic brokerage firm Prabhudas Lilladher said that it values Nifty at 5% premium to 15-year average PE 20.2x to arrive at bull case target of 27,102 as it showed conviction on large cap firms like ITC, RIL, HDFC Bank among others.
Adani Ports target price increased by Kotak Equities as outperformance is likely to continue
Adani Ports' growth in volumes outpaced the Indian market, despite Gangavaram Port's loss due to strike/shutdown. RITES shares rallied 4% on signing an MoU with DMRC.
What clearing vendor dues via equity means for firms
Vodafone Idea's board approved preferential allotment of equity shares to Nokia and Ericsson to clear dues. Vi's vendor ATC Telecom also benefitted from stock market gains. Vi's move to dilute equity for debt repayment is uncommon in listed companies.
Cognizant to acquire Belcan for $1.3 billion
The deal would expand Teaneck, New Jersey-based Cognizant's footprint in the aerospace, defense, space and automotive sectors. Cincinnati-based Belcan, which has been owned by private equity firm AE Industrial Partners since 2015, employs 10,000 people across 60 locations globally. Some of its clients include Boeing, General Motors, Rolls-Royce, the U.S. space agency NASA and the U.S. Navy.
Hot Stocks: Brokerage view on Kaynes Technology, Zomato, Birlasoft and MGL
Global investment bank Morgan Stanley has maintained an overweight rating on Kaynes Technology but raised the target price to Rs 3,845 from Rs 2,440, while Macquarie maintained a sell rating on Zomato with a target price of Rs 100.
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.
Hot Stocks: CLSA lists stocks that could benefit from the 100-day plan for Modi 3.0
Global brokerage CLSA lists out stocks such as L&T, IRB, and NCC, among others that can benefit from Modi 3.0's 100-day plan, while Goldman Sachs is positive on private banks, Jefferies prefers Aavas Financiers, Can Fin Homes as top housing finance companies and Morgan Stanley are overweight on HDFC Life.
Election results may trigger India de-rating, Modi stocks to be worst hit
"We expect a market derating in the short term, as the risk on India has gone up. PSUs and Capital goods are the most vulnerable sectors, from which we would stay away for the time being. On the other hand, consumption should come back and we see FMCG and value retailers making a strong return. We are also constructive on Healthcare," said Seshadri Sen of Emkay Global.
Hot Stocks: Brokerages on Balkrishna Industries, M&M, HAL and L&T
Brokerage firms like Jefferies, ICICI Securities, and Citigroup are positive on industrial space with L&T, HAL, Balkrishna Industries, and M&M as top picks.
India seeks firms make additional disclosures to fast track public offers, document shows
SEBI wants companies seeking to go public to provide 31 additional disclosures, including details on conflicts of interest. The regulator aims to expedite public offers by requiring more information from merchant bankers, as reported by Reuters.
Some Indian brokers impose higher trading margins to withstand election volatility
Some large Indian brokerage firms have asked clients to furnish higher margins against trades this week to limit the risk of default ahead of the results of India's national elections, due on Tuesday.
Hot Stocks: Brokerages view on Aurobindo Pharma, Apollo Hospitals, Suzlon & Titan Company
Top brokerage firms like Macquarie maintained an outperform rating on Aurobindo Pharma, raising the target price to Rs 1,385. Aurobindo Pharma signed a master service agreement with Merck Sharp & Dohme, leading to a biologics CMO contract with TheraNym.
Work overnight for FPI tax papers: Sebi tells big four firms
At a meeting on Tuesday, the Indian capital market regulator has told the accounting biggies in no uncertain terms to generate the mandatory 'confirmation certificate' overnight so that offshore funds managers can repatriate the money from the sale of stocks here to other international markets the very next day.
Adani effect! Paytm shares jump 5% on deal talks between Vijay Shekhar Sharma and Gautam Adani
Shares of Paytm surged 5% as Gautam Adani considers investing in the company. Paytm founder met Adani to discuss a potential deal. Adani is also seeking investments from West Asian funds for Paytm, facing challenges after RBI restrictions.
Minority shareholders to benefit from ITC Hotels demerger: Proxy advisory firms
"The structure will enable ITC Hotels to operate with an optimal capital structure with the ability to access capital to fund its growth requirements.
More PE firms gearing up for India debut
The US PE firm Platinum Equity is exploring investments in a range of sectors.
Sebi issues framework for verification of market rumours by listed entities
The listed entities will now have to follow the industry standards to ensure compliance. Further, the exchanges are advised to bring the contents of this circular to the notice of companies and ensure its compliance. Further, in another circular Sebi has also revamped the method for calculating the market capitalisation of listed companies.
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