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Stocks in news: HDFC Bank, IDFC First Bank, IDBI Bank, Dr Reddy's, Lloyds Metals
HDFC Bank advances rose 53% to Rs 24.87 lakh crore. LIC boosted IDFC First Bank's stake to 2.68%. Dr Reddy's, Sun Pharma recalled items in the US. PNB's global business grew 10%. Raymond Realty, Poonawalla Fincorp, IDBI, Ujjivan SFB, Lloyds Metals, RBL Bank's deposits rose 18%, and Mahindra Lifespace will redevelop Mumbai societies.
LIC raises stake in IDFC First Bank by 0.2% to 2.68% via private placement
IDFC First Bank has underperformed in the market over the past year, gaining only 3% and declining 8% year-to-date. The stock is currently trading 24% below its 52-week high of Rs 100.74.
NIT Mizoram achieves impressive placement record for 2023-2024 academic session with 86.7% overall placement
NIT Mizoram posted an 86.7% placement rate for 2023-2024, with the highest salary package at 14.5 LPA and an average over 7 LPA. Over 75 companies, including Adobe, Deloitte, Vedanta, and Mahindra & Mahindra, recruited students. Among the students, Shristi Sharma and Nishant Nitin Mishra, who secured four job offers, praised the Training and Placement Office. Internships, part of the curriculum, involved 100% student participation with organizations like SAIL, Indian Railways, and Google, offering stipends between ₹5,000 to ₹20,000 per month.
Lloyds Metals and Energy likely to launch Rs 1,200 crore QIP this week
Lloyds Metals and Energy shares rallied 5% on Thursday, closing at Rs 775. The stock has gained 31% in the last six months, compared to an 11% rise in the Sensex index. In March, the board of Lloyds Metals approved raising up to Rs 5,000 crore through QIP in one or more tranches.
Cello World shares jump 4% to new high on QIP launch
Cello World's shares surged 4% to a new high of Rs 1,024 on BSE following the launch of a qualified institutional placement to raise funds. The company plans to utilize the funds for debt repayment and potential expansion in the glassware segment or acquisitions.
Wockhardt shares skyrocket 18% to fresh 52-week high. Here’s why?
Shares of Wockhardt surged 18% in early trading to reach a new 52-week high of Rs 811.50 on NSE. The sharp increase followed the company's announcement of the successful use of its investigational antibiotic, Zaynich (Zidebactam/CefepimeWCK 5222), in treating a young, immune-compromised cancer patient at the Children's Hospital of Orange County in the US.
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RBL Bank to raise Rs 65 billion via institutional placement of shares, debt issue
Indian private lender RBL Bank said on Thursday it will raise up to 65 billion rupees ($779 million) through a combination of qualified institutional placement (QIP) of shares and debt sale.
Vedanta Limited to raise Rs 1,000 cr through private placement of NCDs
Vedanta Limited, a subsidiary of Vedanta Resources, announced plans to raise Rs 1,000 crore through bonds on a private placement basis. The fund raise is part of the company’s routine financing or refinancing activities, the company said in a stock exchange announcement.
Vedanta to raise Rs 1,000 crore through private placement of NCDs, stock jumps over 6%
Vedanta's shares surged 6.5% on BSE as the board approved a Rs 1,000 crore fundraise through non-convertible debentures via private placement.
Craftsman Automation shares rise over 3% on launching Rs 1,200 crore QIP
Craftsman Automation's share price rose 3.5% to Rs 4,945 on the BSE after initiating a Qualified Institutional Placement (QIP) to raise Rs 1,200 crore.
Co-op, work placements, and internships: A guide for international students
Employers seek capable graduates with practical experience. Work-integrated learning, such as co-op programs, work placements, and internships, offer real-world exposure. Co-op involves academic study and paid work related to the field. Work placements are short-term in a professional setting. Internships provide focused practical experience. International students should be aware of visa, work restrictions, and labor laws.
Tether acquires $100 million stake in US-Listed bitcoin miner Bitdeer
The two firms entered into a subscription agreement for a private placement of 18.6 million Class A ordinary shares, Bitdeer said in a statement on Friday, which generated $100 million in gross proceeds. There was also a warrant to purchase up to five million in additional shares at $10 per share. The private placement closed on Thursday.
Adani Enterprises board approves Rs 16,600 crore fundraise via QIP
Following the Hindenburg crisis, the Adani Group is regaining momentum and transitioning back to a growth trajectory. Today, the board of Adani Enterprises has given the green light for a fundraising endeavor totaling Rs 16,600 crore through the Qualified Institutional Placement (QIP) route.
Adani Enterprises board to meet today to discuss fund raise
Adani Enterprises will discuss potential fundraising options during a board meeting scheduled for May 28. The agenda includes deliberations and approvals for proposals related to raising funds, which may involve issuing equity shares or other eligible securities through permissible modes.
Adani Energy Solutions to raise up to Rs 12,500 crore
Adani Energy Solutions Ltd, formerly Adani Transmission Ltd, will raise up to Rs 12,500 crore through qualified institutional placement (QIP) or other permissible mode, the company said in a regulatory filing on Monday.
Vedanta said to weigh $1 billion share sale as soon as June
Vedanta is working with advisers including Axis Bank Ltd. subsidiary Axis Capital and Citigroup Inc. on the offering, the people said.
Adani Enterprises, Adani Energy Solutions to consider fund raising next week
Adani Enterprises and Adani Energy Solutions are planning to raise funds via equity through board meetings next week. Adani Enterprises previously raised Rs 12,500 crore through a QIP in May 2023.
Coforge launches QIP to fund acquisition
The company in a filing with BSE said that the floor price for the issue is at ₹4,531.40 per equity share. In a recent interaction with ET, Sudhir Singh, the CEO, said that the company will shell out $220 - $250 million, (or about ₹1,826 crore - ₹2,081 crore) to acquire Hyderabad-based Cigniti Technologies even as the Noida-based IT firm launched an open offer to acquire an additional 26% stake in Cigniti. He had said that they would use QIP to acquire between 51% - 54% of the of Cigniti.
Sebi amends rule to facilitate ease of doing biz for cos planning IPOs
Rules mandate at least 20% of promoters’ shares to be locked in for a certain period of time post-listing after an IPO. This relaxation will help new-age technology companies as founders’ shareholding comes down usually after an IPO. Non-promoter shareholders excluding individuals holding more than 5% of the post-offer equity share capital can contribute towards the shortfall, Sebi said.
KPI Green Energy board okays plan to raise up to Rs 1,000 cr
Based in Gujarat, KPI Green Energy Limited (formerly known as K.P.I. Global Infrastructure Limited), is a leading renewable power generating company.
Hindi-medium IITian shares his struggles at India's premier institute and what saved his life
Deepak Baghel, an IIT Bombay alumnus turned motivational speaker, bravely shares his struggles with suicidal thoughts and three major challenges during his college days on LinkedIn. Facing financial hardship, academic setbacks, and institutional rigidity, Baghel's candid narrative sheds light on the silent battles many students endure. His poignant post garners over 800 likes, sparking vital conversations about mental health and resilience.
Sterlite Technologies raises Rs1000 crore from qualified institutional investors
Broadband technology company Sterlite Technologies has raised Rs 1,000 crore by issuing equity to qualified institutional investors (QIPs), which include both Indian and international investors, the company announced on Tuesday through a stock exchange filing.
Reality Check: Even Rs 1.5 lakh+ salary not enough to cover family expenses in Indian metros? IITian's post goes viral
A recent post by Pritesh Kakani has claimed that a family of four needs at least Rs 20 lakh per year for living in metro cities in India. Kakani's breakdown excludes luxury costs, gaining traction with over 8.3 lakh views. While some agree, others contest, questioning essential expenses. The discourse highlights urban living complexities and differing perspectives on necessary spending in metro areas.
'IITs are just schools': IIT Bombay student's rant goes viral amid placement woes
A first-year student at IIT Bombay's Reddit post criticising teaching methods sparked debate, questioning the institute's reputed status as an educational pinnacle. Expressing disillusionment, the student highlighted subjective grading and a disparity between perception and reality. While receiving significant online attention, the post prompted discussions on educational experiences. IIT Bombay countered concerns over job placements, citing a majority securing employment through its placement process.
Job openings: Entry-level tech hiring takes a hit; campus placements may fall over 50% this year
Over the previous few years, India's IT job market has seen a gradual fall in entry-level positions; this year, a further decline is projected, along with fewer hirings from colleges. Although there have been modest increases in hiring activity, the true momentum could not show up until the second half of the year.
Consulting, technology firms top recruiters at ISB, 70 first-time recruiters make 190-plus offers
Consulting and professional advisory services firms dominated recruitment for the Indian School of Business PGP Class of 2024, representing 37% of offers. Overall, 394 companies, including over 70 first-time recruiters, extended 1,206 job offers to 850 students. As of early April, over 95% of the batch had secured placements.
IIT degree doesn't guarantee crores: IIT-Roorkee alumni and IFS officer gives a reality check, busts placement myths
The reality of IIT placements, revealed by IFS officer Gaurav Garg, showcases a wide salary range from ₹6-35 lakh, with CSE and ECE graduates receiving higher offers. Global companies like Google and Facebook offer crores, but salary packages can be complex, often resulting in lower in-hand pay. IIT Bombay struggled this year, with 36% of students failing to secure jobs, reflecting challenges in a volatile economic climate.
A high number of students not optimistic about landing their preferred jobs, says survey
The Unstop Talent Report 2024 reveals challenges faced by students in finding desired placements, with 50% uncertain about job prospects in their field. Only 7% of surveyed campuses achieved full placement success. HR leaders advocate curriculum changes to enhance employability, prioritizing skills over experience.
Macrotech Developers aims to raise over Rs 3,316 crore through QIP issue
Realty developer Lodha, listed as Macrotech Developers, plans to raise $400 million through a qualified institutional placement (QIP) for growth. The floor price for the issue is Rs 1,129.48 per equity share. The company has raised funds through IPO and previous QIPs.
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