Posts in category Economic Times
Stocks in news: IndiGo, Mphasis, IRB Infra, Raymond, BPCL (11-06-2024)
Domestic markets opened lower with focus on various companies' developments including IndiGo, Mphasis, IRB Infra, Cintra, RVNL, Siemens, Raymond Realty, BPCL, JSW Steel, Bharat Petroleum Corporation, Lupin, Global private equity, and Central Railway project.
Telcos likely to see modest revenue growth in June Qtr (10-06-2024)
Analysts expect a modest 2.5-3% sequential increase in revenue growth for the telecom sector in the June quarter. Despite higher data usage during the IPL cricket tournament and increased demand for international roaming packs during the summer holiday season, revenue growth is expected to be limited. This is due to many mobile users still paying lower 4G rates even after opting for 5G packs, and most subscribers having large amounts of unused data, reducing the need for costlier mobile broadband plans.
Hyundai Motor gearing up to drive into Indian capital market (10-06-2024)
Hyundai has hired several investment banks to manage the IPO and is targeting a valuation of $22-28 billion. The IPO could lead to a rerating of the Indian automobile sector and benefit Hyundai's closest rival, Maruti Suzuki.
Dutch infrastructure major Ferrovial pruning stake in IRB infrastructure via block deal (10-06-2024)
Cintra has offered 301 million shares for sale with a floor price between ₹63 and ₹70.16 per share, representing a 10% discount from the lower end compared to Monday's closing price. Jefferies and HSBC are the bankers for the deal.
Sebi junks rule to freeze Demat a/cs, MF folio rule for non-submission of nomination (10-06-2024)
The regulator said dividend, interest or redemption payment withheld presently by listed companies and registrar and transfer agents for want of nomination should be processed accordingly.
Bank of India acquires over 6 pc stake in CCIL IFSC (10-06-2024)
Promoted by Clearing Corporation of India Limited (CCIL), CCIL IFSC is the proposed entity to build and operate a real-time foreign currency settlement system at GIFT City, the country's only operational international financial services centre.
Oil rises on hopes of summer fuel demand (10-06-2024)
Goldman Sachs analysts expect Brent to rise to $86 a barrel in third quarter, saying in a report that solid summer transport demand will push the oil market into a third-quarter deficit of 1.3 million barrels per day (bpd).
InterGlobe Enterprises likely to sell 2% stake in IndiGo via block deal: Report (10-06-2024)
The stake sale is valued at approximately $394 million, with the promoter set to offload 77 lakh shares at ₹4,266 each. This transaction will be executed at a 6% discount to IndiGo's last closing price. The company's shares have had a healthy run so far this year with a gain of over 50% year-to-date.
Ahead of Market: 10 things that will decide D-Street action on Tuesday (10-06-2024)
The NSE Nifty 50 index fell 0.13% to 23,259, while the S&P BSE Sensex declined 0.27% to 76,490. Both benchmarks initially rose about 0.5% to hit record highs before losing gains. The MACD indicator showed bullish activity in stocks like Balkrishna Industries, IndiGo, KEI Industries, Tejas Networks, and Info Edge. HDFC Bank, Adani Enterprises, SBI, RIL, Tata Steel, ICICI Bank, and Axis Bank were among the most active stocks on the NSE by value.