FY21
Bansal Wire IPO booked 59.5 times on last day. Check GMP and other details
The overall subscription stood at 18.78x so far. The categories reserved for NII and QIB investors were subscribed 34 times and 21 times, respectively. Meanwhile, the retail portion of the issue was subscribed the least at 10.54 times.
Bansal Wire IPO to open for subscription on Wednesday. Here's what GMP indicates
The company aims to raise approximately Rs 745 crore at the upper end of its price band. Investors can bid for a minimum of 58 shares per lot, with the option to bid in multiples of this lot size. Prior to the IPO subscription, the company's shares were trading at a premium of Rs 65 in the unlisted market.
Extent and frequency of tariff revisions crucial for financial health of telcos
Following the increase in tariffs, the stock of Reliance Industries rose by 2.3% on Friday to close at Rs 3,131.9. On the other hand, stocks of Bharti Airtel and VIL were under pressure, falling by 1.8% to Rs 1,445.4 and by 3.4% to Rs 17.9 in that order amid profit booking after a recent surge in their prices.
Why cement biggies like to take inorganic route to grow
This was followed by more prominent deals in recent times. In 2022, Adani Group acquired ACC and Ambuja Cements from Holcim. The acquisition of ACC-Ambuja cement assets was valued at ₹81,400 crore.
Budget Preview: Govt could use part of RBI dividend to reduce fiscal deficit, says Motilal Oswal
A transfer of Rs 2.11 lakh crore by the RBI implies excess receipts of about Rs 1.5 lakh crore in FY25, the MOFSL note said. MOFSL sees the new government largely retaining its tax and non-debt capital receipt (including disinvestment) projections as presented during the interim Budget in February.
Muthoot Microfin to stay on the radar with a few tailwinds
A part of Muthoot Pappachan Group, the company provides micro loans to women with a focus on rural areas. It had 1,508 branches in 353 districts across 18 states of India as of March 2024. Its AUM grew by 32.4% year-on-year to ₹12,193.5 crore in FY24.
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Go Digit stock likely to face pressure amid elevated combined ratio
After gaining over 24% within three weeks since listing on bourses on May 23, the stock of Go Digit General Insurance has remained range bound following weak performance in the March quarter, which was declared on June 11.
Stanley Lifestyles high on luxury quotient, raises Rs 161 cr from anchors
Private equity-backed Stanley Lifestyles, the fourth-largest player in India's home furniture market, is set to launch a ₹537 crore IPO. The company's revenues have more than doubled, and net profit has grown significantly in recent years.
A 60% fall! Does falling FDI call for policy recalibration?
RBI reported a 62% drop in net FDI flows into India to USD 10.6 bn in FY24, the lowest since 2007. Select sectors benefit from the "China+1" trend, attracting opportunistic foreign investments. India requires comprehensive policy recalibration, aligning with sectoral strengths, and genuine market access.
Healthy credit-deposit ratio needed
State Bank of India and other public sector lenders are urging the government to allow incentives to boost deposits, addressing a slump in credit flows.
Wait for Ixigo to list before taking a call
Le Travenues Technology, the promoter of Ixigo, is raising ₹740 crore through an IPO, with a fresh issue of ₹120 crore and an OFS of ₹620 crore.
Top IT companies focus on employee productivity amid demand uncertainties
Amid revenue deceleration, shrinking margins and lower headcount, a silver lining for the top tier IT exporters is the rising employee productivity aided by streamlining of human resources through meticulous bench management.
TPG Asia sells entire stake in RR Kabel in Rs 958 crore block deal
Marquee funds, including Edelweiss MF, Tata MF, Goldman Sachs, Citigroup, Morgan Stanley, ICICI Pru MF, Blackstone Aqua, Reliance Nippon Life, and HDFC Standard Life, among others, bought stakes in the transaction.
TPG Asia to exit RR Kabel, offload stocks worth Rs 1,000 crore in block deal: Report
TPG Asia had acquired around 21% stake in RR Kabel five years before the IPO, which was launched in late 2023. Since then, the PE firm has gradually cut its stake in the company.
Ashok Leyland shifts focus on margin improvement through price discipline
Analysts expect 12-12.5% EBITDA margin over the next two fiscal years allowing room for upgrades if the company is able to achieve its guidance of mid-teen margin in the medium to long term.
The emerging fiscal constrictor knot & tightening logjam for market
Strengthening private capex and boosting employment gains are crucial for escaping the fiscal constrictor knot. Improving global demand and household incomes can provide a potential escape route.
Improving asset quality, reach to keep Jana SFB on growth path
JSFB provides micro financing, secured business loans, loans against property, micro, small and medium enterprises loans, loans against deposits and gold, and loans to finance companies. The bank strives to reduce reliance on unsecured loans by expanding the portfolio of secured loans. At the end of March 2024, its total loan book was worth Rs 24,746 crore.
Tata Tech shares dip 5% as brokerages reduce target prices. Should you buy?
Tata Tech Share Price: Tata Tech reported its quarterly earnings for the second time on 3rd May wherein their net profit stood at Rs 157.24 crore for the quarter ended March 2024, which was down 27% on a year-on-year basis while the consolidated revenue from operations for the reported quarter stood at Rs 1,301.05 crore, lower by 7.22% YoY.
Tata Elxsi shares down by 5% after disappointing Q4 results
Tata Elxsi's shares dropped 5% to Rs 7,000 today as investors were disappointed by the company's Q4 results. The company reported a 4.5% sequential decline in net profit in its quarterly results announced yesterday. Q4 revenue stood at Rs 905.9 crore, down 0.9% QoQ, marking the first sequential revenue decline since Q1 of FY21.
Opportunity in Rs 1.8 lakh crore-cables & wires sector: Potential 30-40% returns from Polycab & KEI Industries
Potential 30-40% returns from Polycab & KEI Industries in the Rs 1.8 lakh crore-cables & wires sector fueled by industry growth, exports, and government policies favoring organized players and renewable energy.
Samsung to finally get its FY21 incentives under PLI scheme
The Indian government has cleared over ₹500 crore claims for South Korean smartphone manufacturer Samsung for the first year of the smartphone production-linked incentive (PLI) scheme, which was granted after over two years of revisions due to discrepancies in the original paperwork. Samsung had initially filed for ₹900 crore, claiming to have achieved a target of ₹15,000 crore worth of incremental sales for FY21.
Government lost Rs 1 lakh crore in taxes in FY'21 due to corporate tax cut, says MoS Finance
The Indian government lost over INR 1 lakh crore in FY 2020-21 due to a cut in corporate taxes announced in September 2019. The base corporate tax for existing companies was reduced to 22%, while for new manufacturing firms it was cut to 15%. Companies opting for these new rates had to give up all exemptions and incentives.
Salaried getting income tax notices for deductions of FY21-22 ITR: Watchouts for current ITR
Salaried individuals have come under income tax department's scanner for making fake deductions claims in the income tax returns filed last year i.e., for FY 2021-22 (AY 2022-23). Hence if you are filing income tax return now, then you must not make certain mistakes to avoid getting income tax notices.
Nearly 90% adults had accounts with financial institutions in FY21
The survey was initially planned to be conducted during the period January-December, 2020 but the field work was extended till August 15, 2021, due to the Covid-19 pandemic. The NSSO carried out the survey covering the entire country in its 78th round. The survey said that 34.9 % persons aged 15-29 years were in formal and non-formal education and training for the 12 months preceding the survey.
The best and worst of crypto
The transition, though completed successfully in the end, was far from a foregone conclusion because of its complexity and the scale of the Ethereum network, which is second only to Bitcoin’s.
Byju’s losses swell to Rs 4,588 crore in delayed FY21 results
Speaking to ET, Raveendran said the company had recorded "significant growth in revenue compared to financial year 2020 but because of revenue recognition changes, it’s getting pushed to the next financial year".
Byju’s FY21 losses balloon to Rs 4,588 crore; ED searches Paytm, PayU offices
Last month, the ministry of corporate affairs (MCA) sent a communication to edtech giant Byju’s, asking it to explain the more than 18-month delay in filing its financial accounts for FY21. Now, the company has finally released the long-awaited financials, reporting that its losses in FY21 jumped to Rs 4,588 crore from just Rs 262 crore in FY20.
Edtech unicorn Unacademy’s consolidated loss widens to Rs 1,474 crore in FY21
Unacademy's revenue from operations rose to Rs 337 crore in FY21 from Rs 65 crore in the previous fiscal year.
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