ICICI SECURITIES MERGER
ICICI Bank raises Rs 3,000 crore through 10-year infra bonds
Funds raised through infrastructure bonds, which have a minimum maturity of 7 years, are exempted from the maintenance of Statutory Liquidity Ratio and Cash Reserve Ratio.
SBI raises Rs 10,000 cr via bond sales to fund infra projects
Separately, ICICI Bank is likely to carry out a sale of infrastructure bonds on June 28, with the private lender looking to raise up to ₹3,000 crore through 10-year securities, debt capital market sources said. SBI's infrastructure bonds, which mature in 15 years, bear a coupon - or rate of interest to be paid to investors - of 7.36%.
Stocks to buy: Bet on stocks that regularly beat analyst estimates; 5 stocks with double-digit upside
Stocks to buy: Out of 304 companies, where estimates are compiled by a minimum of three analysts through Reuters-Refinitiv, 50 stocks have consistently surpassed analysts’ net profit estimates in all four quarters of 2023-24. This group of 50 stocks has delivered an average return of 72.4% over the past year, compared to the BSE 500 index’s 38% return over the same period. This data is based on closing values as of 18 June. The article explores the five companies that have been covered by a significant number of analysts and currently offer double-digit share price potential.
Quantum MF files suit against ICICI Securities delisting, cites loss in share swap deal, valuation
Amidst the tussle between ICICI Bank and retail shareholders over the delisting of its unit ICICI Securities from the Indian bourses, Quantum Mutual Fund has filed a suit against the delisting in the National Company Law Tribunal (NCLT), Mumbai branch.
Stock gaming apps under Sebi scanner; ETtech Done Deals
The capital markets regulator is cracking down on illicit gaming apps that offer virtual trading services and fantasy games. This and more in today’s ETtech Top 5.
Investors will take final call on Zee leadership: Punit Goenka
Goenka, who is part of the promoter family that holds a 4% stake, is the longest-serving CEO of Zee. In 2019, Goenka was reappointed as the MD and CEO of the entertainment giant, beginning January 2020. The Securities and Exchange Board of India is investigating Goenka and his father, Subhash Chandra, for allegedly diverting the entertainment company's funds to promoter-owned firms.
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ICICI Securities Delisting: 16 fund houses vote in favour of plan and 7 against
Sixteen domestic mutual funds, including Kotak and LIC, supported ICICI Bank's proposal to delist ICICI Securities, despite concerns raised by some shareholders. This led to a class-action lawsuit by retail investors and support from ICICI Prudential Mutual Fund.
Aadhar Housing Finance shares see a tepid debut. Should you exit?
Contrary to the debut of TBO Tek, the listing of Aadhar Housing Finance was flat, falling short of expectations. The grey market trends signalled a gain of around 15-20% for investors.
Aadhar Housing Finance stock makes D-Street debut on flat note
Aadhar Housing Finance debuts on BSE at Rs 314.3 post a successful IPO. Leading in low-income housing finance, it has highest AUM, faces market volatility challenges, and raised funds for future lending needs through fresh equity issue and OFS post DHFL Vysya merger.
Aadhar Housing Finance stock to list on Wednesday. Here's what GMP suggests
Aadhar Housing Finance IPO consisted of fresh equity issue worth up to Rs 1,000 crore and OFS of up to Rs 2,000 crore. It was booked nearly 26 times at close. Its GMP indicates a listing gain of around 15%.
ICICI Securities questions the maintainability of the class action contesting the delisting and merger
The case pertains to ICICI Securities' announcement last year, which allowed delisting and merger with ICICI Bank, with 67 shares of ICICI Bank being offered for every 100 shares of ICICI Securities.
Aadhar Housing Finance IPO allotment to be finalised on Monday: Here's how you can check status
In the unlisted market, Aadhar Housing Finance's shares are trading with a premium of Rs 70 against the issue price of Rs 315, translating to a listing gain of 22%. The company raised nearly Rs 899 crore from anchor investors ahead of the IPO.
Digit IPO: tempering tech valuations & other top startup stories this week
This is Pratik Bhakta in Bengaluru. Insurance startup Digit, by valuing itself at a discount of 25% to its last known private market valuation, seems to have stuck its neck out. And it’s a move that’s certainly got everyone talking.
Pull up your socks, ignore the fear and buy the stocks you want most: Sanjiv Bhasin
Sanjiv Bhasin advises strategic stock purchases amidst market fluctuations, emphasizing opportunities in largecap banks, commodity stocks, undervalued companies like Engineers India, and potential rural recovery themes through auto stocks like Escorts.
ICICI Bank m-cap tops Rs 8 lakh crore, cuts its value gap with HDFC to half
Following the merger of HDFC and HDFC Bank on July 24 last year, HDFC Bank's market-cap was 82% higher than ICICI Bank. ICICI Bank was valued at ₹6.94 lakh crore then while HDFC Bank's market- cap stood at ₹12.66 lakh crore. On Monday, this gap was reduced to 41%, with HDFC valued at ₹11.49 lakh crore and ICICI Bank at ₹8.14 lakh crore.
Minority shareholders of ICICI Securities file lawsuit against delisting move
Manu Rishi Guptha and minority shareholders have challenged ICICI Bank's delisting bid for ICICI Securities at NCLT. Shareholders had approved merger with ICICI Bank but Quantum MF has is also considering legal action against the bank. ICICI Securities has reported robust financials. According to the proposed delisting scheme, ICICI Securities shareholders are slated to receive 67 shares of ICICI Bank for every 100 shares held.
ICICI Securities: Shareholders approach NCLT over ICICI Bank's brokerage arm's delisting plan
A group led by a Bengaluru-based investment manager has contested ICICI Bank's bid to delist its brokerage arm, ICICI Securities. Despite shareholder support for the merger, retail investors opposed it. The proposed swap ratio and alleged irregularities have sparked objections, with Quantum Mutual Fund urging legal action to protect minority interests.
BHEL & Ircon are real "fire in the belly", will outperform till elections at least: Sanjiv Bhasin
Bhasin advises caution in markets due to potential US data impact and advises profit-taking. Ranks private banks and emphasizes PSU stocks for performance. Prefers BHEL, Ircon, LTIM, HCL Tech, and Wipro for investment. Bhasin says: "The faint-hearted or the larger-term retail should keep their SIPs going but take some money off the table whenever there is leverage."
Quantum MF writes to Sebi, opposes plan to delist ISec
Quantum Mutual Fund objects to ICICI Bank's delisting plan for ICICI Securities, citing non-compliance and flawed valuation. Allegations of fraudulent means in achieving majority vote raise concerns about the scheme's integrity.
Public shareholders clear ICICI Securities' delisting
In the voting process that ended on March 27, investors holding 71.89% of the lender's shares favoured the proposal, while those owning 28.11% voted against it, paving the way for ICICI Securities' delisting from the bourses. Shareholders of the broking firm will receive 67 shares of ICICI Bank for every 100 shares held.
ICICI Securities shareholders approve merger with ICICI Bank with 72% votes
72% of shareholder votes favored the ICICI Securities-ICICI Bank merger. Concerns raised over alleged coercion of minority shareholders by ICICI Bank, prompting potential regulatory scrutiny on the voting process.
Exchanges seek clarification from I-Sec, promoter ICICI Bank on reports of allegedly influencing minority investors
ICICI Bank is under the fire for allegedly coaxing minority shareholders of ICICI Securities (I-Sec) to support the private lender's proposal to delist the broking and investment banking arm.
Quantum MF votes against ICICI Bank-ICICI Securities’ proposed merger scheme
ICICI Bank wants to merge its 75% subsidiary ICICI Securities with itself offering investors 0.67 shares of ICICI Bank for every one share in ISEC.
Take some money off PSBs & get into 3 largecap private banks; bullish on 4 stocks in auto space: Sanjiv Bhasin
Sanjiv Bhasin advises investing in private banks like HDFC Bank and is optimistic about HDFC, ICICI, and Kotak. Zee Entertainment's merger talks are back on and he is hopeful that after pain, gain is going to be very much on the cards. Auto sector remains strong with top picks being Maruti, Bosch, Ashok Leyland, and Hero Moto.
Sebi queries ZEEL ex-directors; shareholders weigh options
A number of domestic and overseas institutional shareholders in ZEEL are also in discussions backchannel to coordinate on future course of action, multiple people involved in the discussions said. Large domestic institutions are also engaging with one proxy advisory firm to explore a common course of action that might be palatable to a broader base of investors.
Zee may fall 15-20%, analysts caution against bottom fishing
Monday's announcement marks the conclusion of a two-year deal process. The merger with Sony, according to analysts, was expected to potentially rescue Zee from its current crises and decline in market share.
Small banks like Dhanlaxmi may double; Indus Tower a dark horse: Sanjiv Bhasin
Sanjiv Bhasin highlights the performance of the midcap index and the earnings of companies like REC, PFC, NBCC, GAIL, IREDA, and Colgate. He expresses optimism about the Bank Nifty and the stellar performance of ICICI Bank and PSU stocks. He mentions the underperformance of HDFC and the potential impact on its stock price. He also discusses the merger cancellation of Zee Entertainment and predicts changes in its ownership. He suggests considering largecap banks like ICICI Bank and identifies potential opportunities in stocks like Dhanlaxmi Bank and Indus Tower.
NCLT clears ICICI Bank-ICICI Securities merger; EGM set for March 27
Given the current stock prices, the scheme appears favourable to ICICI Bank shareholders, potentially leading to resistance from ICICI Securities shareholders at the current swap ratio.
Stocks in news: Tata Technologies, Gandhar Oil, Fedbank Financial, ICICI Securities, GNFC, ZEE
China's Alipay has sold its entire stake in the food delivery company Zomato for about Rs 3336 crore through block deals on Wednesday.
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