Posts in category Business Standard
Muthoot Finance’s arm Belstar Microfinance files Rs 1,300-cr IPO with Sebi (05-05-2024)
Muthoot Finance's microfinance arm, Belstar Microfinance Ltd, on Sunday filed preliminary papers with capital markets regulator Sebi to raise Rs 1,300 crore through an initial public offering (IPO).
The Chennai-based entity's IPO is a combination of fresh issue of equity shares worth Rs 1,000 crore and an offer-for-sale (OFS) of Rs 300 crore by investor shareholders, according to the draft red herring prospectus (DRHP).
As a part of the OFS, Danish asset management firm MAJ Invest aims to sell shares to the tune of Rs 175 crore, followed by Arum Holdings Ltd (Rs 97 crore) and Augusta Investments Zero Pte Ltd (Rs 28 crore).
Maj Invest had first invested in Belstar Microfinance in 2018 and again in 2022.
At present, Muthoot Finance, which is one the promoters, holds a little over 66 per cent stake in Belstar Microfinance.
Proceeds from the fresh issue worth Rs 760 crore will be used to meet future capital requirements towards onward lending and the remaining amount will be used for
FPIs get cautious amid ongoing Lok Sabha polls; inject Rs 1,156 cr in May (05-05-2024)
Foreign investors have adopted a "wait and watch" stance amidst the ongoing general elections and have infused just Rs 1,156 crore in the first two trading sessions of this month.
This came after FPIs dumped equities worth Rs 8,700 crore in April, on concerns over a tweak in India's tax treaty with Mauritius and a sustained rise in US bond yields. Before that, FPIs made a net investment of Rs 35,098 crore in March and Rs 1,539 crore in February.
In the two days of trading in May, Foreign Portfolio Investors (FPIs) have invested Rs 1,156 crore in equity and sold Rs 1,726 crore in debt, data with the depositories showed.
"With general elections in full swing in India, foreign investors have adopted a wait and watch approach, until the election results are out," Himanshu Srivastava, Associate Director - Manager Research, Morningstar Investment Research India, said.
Additionally, a mixed batch of US data has barely shaken the perceptions that the economy remains robust, indicating that
Mcap of 6 of top 10 firms declines by Rs 68,417 cr; Airtel biggest laggard (05-05-2024)
The combined market valuation of six of the top-10 most valued firms declined by Rs 68,417.14 crore in a holiday-shortened last week, with Bharti Airtel and Reliance Industries taking the biggest hit.
While Reliance Industries, Bharti Airtel, Life Insurance Corporation of India (LIC), Infosys, ITC and Hindustan Unilever were the laggards, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank and State Bank of India emerged as the gainers.
Last week, the BSE benchmark climbed 147.99 points or 0.20 per cent.
Domestic equity markets were closed on Wednesday on account of Maharashtra Day.
The market capitalisation (mcap) of Bharti Airtel fell by Rs 27,635.65 crore to Rs 7,23,770.70 crore.
The valuation of Reliance Industries declined by Rs 23,341.56 crore to Rs 19,40,738.40 crore.
The mcap of LIC dropped by Rs 5,724.13 crore to Rs 6,19,217.27 crore, and that of Infosys went lower by Rs 5,686.69 crore to Rs 5,87,949.62 crore.
ITC's valuation eroded by Rs 4,619.35 crore to Rs 5,44,64
Kansai Nerolac Paints standalone net profit rises 8.03% in the March 2024 quarter (04-05-2024)
Sales rise 3.53% to Rs 1661.70 crore
Tata Tech Q4 PAT drops to Rs 157 cr (04-05-2024)
Tata Technologies reported 7.63% decline in consolidated net profit to Rs 157.24 crore in Q4 FY24 as compared with Rs 170.22 crore in Q3 FY24.
CDSL Q4 PAT soars to Rs 129 cr; declares dividend of Rs 22/ share (04-05-2024)
CDSL reported consolidated net profit of Rs 129.25 crore in Q4 FY24, steeply higher than Rs 63.12 crore as compared with Rs 63.10 crore posted in Q4 FY24.
Aarti Drugs reports PAT of Rs 47 cr in Q4 FY24 (04-05-2024)
The pharmaceutical company's consolidated net profit declined 15.78% to Rs 47.31 crore in Q4 FY24 as compared with Rs 56.18 crore recorded in Q4 FY23.
Raw Edge Industrial Solutions reports standalone net profit of Rs 0.58 crore in the March 2024 quarter (04-05-2024)
Sales rise 18.30% to Rs 13.12 crore
Avenue Supermarts consolidated net profit rises 22.41% in the March 2024 quarter (04-05-2024)
Sales rise 20.13% to Rs 12726.55 crore
IDBI Bank Q4 PAT climbs 44% to Rs 1,628 cr (04-05-2024)
IDBI Bank announced that its standalone net profit jumped 44% to Rs 1,628 crore in Q4 FY24 as compared with 1,133 crore in Q4 FY23.