Posts in category Economic Times
UltraTech, AM Mining, others eye Vadraj Cement (30-04-2024)
AM Mining India, a joint venture between ArcelorMittal and Nippon Steel, Oaktree Capital-backed India Opportunities XII Investments, and Nirma group-backed Nuvoco Vistas Corporation submitted expressions of interest (EoIs). Naveen Jindal group company called Jindal Panther Cement, and PN Group-promoted CN Infrabuild also gave separate EoIs.
Edelweiss fund to back Matrix Lab founder’s buyout of Viatris API biz (30-04-2024)
Kotak is lending $150 million (₹1,250 crore) under a mezzanine debt facility to Prasad at 18-20% and arranging an additional $300 million from other lenders including Edelweiss Domestic Performing Credit Fund, two people close to the development said. The Edelweiss fund is lending the money, a senior debt facility, at 10-11%.
BSE shares hit by Sebi’s regulatory fee move (30-04-2024)
BSE said on Friday that Sebi has directed the exchange to pay a regulatory fee based on annual turnover, taking into account the 'notional value' of the options contracts. BSE has been paying this fee considering the value of the options premium. The fee based on premium value is lower than that taking into account the notional value.
Earnings surge makes PE fair, Nifty lovely (29-04-2024)
The Nifty's PE ratio, based on trailing earnings, has dropped to 22 times from 33 times on March 30, 2021. Analysts said the PE ratio suggests the Nifty is trading at fair valuations, which means the index is neither cheap nor expensive.
ICICI Bank m-cap tops Rs 8 lakh crore, cuts its value gap with HDFC to half (29-04-2024)
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.
Temasek sells 10% stake, out of Tata Play picture (29-04-2024)
Tata Play, India's largest DTH firm with 21 million subscribers, has intimated the Ministry of Information and Broadcasting (MIB) about the change in shareholding, according to one of the persons, who did not wish to be identified. Under the DTH rules, licence holders are required to inform the ministry about a change in shareholding or partnership or foreign direct investment pattern.
Foreign banks seek leeway on LEF rules for Nostro accounts (29-04-2024)
At a time when overseas capital flows have been firm, foreign lenders have requested the banking regulator for flexibility in compliance with the central bank's Large Exposures Framework (LEF), particularly in handling certain types of accounts that facilitate global transactions.
Tesla soars 12% on tentative approval for driving system in China (29-04-2024)
The developments came after Tesla Chief Executive Officer Elon Musk made an unannounced trip to China on Sunday, seeking approval for driver-assistance software that could help arrest the carmaker’s revenue decline. While the company’s suite of features require constant supervision and don’t make Teslas autonomous, the company charges $8,000 for them in the US, or $99 a month for a subscription.
Bharti Airtel issues shares worth Rs 246 crore to FCCB holders (29-04-2024)
Following allotment of equity against the foreign currency convertible bond (FCCB) the outstanding principal value of FCCBs at Singapore Exchange has reduced to USD 204.690 million.
UCO Bank Q4 Results: Net profit drops 9% YoY to Rs 526 crore on rise in operating expenses (29-04-2024)
The bank 's total provisions and contingencies were marginally higher at Rs 467 crore as compared with Rs 451 crore in the year-ago quarter, even as provisions to cover bad loans were 44% lower at Rs 227 crore. The lender, however, has announced a dividend after a gap of nine years at 2.8% rate which comes to 28 paise per share of face value Rs 10.