Adani Power will consider raising funds worth Rs 5,000 crore by way of public issue and/or private placement of non-convertible debentures (NCDs) in one or more tranches.
Forget gold, go for silver to add lustre to your portfolio (24-10-2024)
After the sharp run-up this year, with domestic prices touching the ₹1 lakh per kg mark, analysts believe investors could buy on dips over the next 1-3 months and allocate 3-5% of their portfolio to the white metal.
Malabar, Carnelian buy 9.96% stake in IPO-bound Scoda Tubes (24-10-2024)
Malabar Investments, a Mauritiusbased fund, subscribed to 2.4 million shares at Rs 125 per share, resulting in a 5.43% stake. Carnelian Capital, founded by Vikas Khemani, subscribed to 2 million shares, representing 4.53% of the total shareholding. According to the DRHP, Scoda Tubes aims to raise Rs 275 crore through the IPO, with Monarch Networth Capital serving as the sole banker to the issue
Sluggish urban market to weigh on HUL, price hikes may help (24-10-2024)
High raw material costs limited the margin gains even as the company spent less on advertising during the quarter. The raw material cost grew 5% on year and constituted 49.6% of the revenues, driven by inflation in tea and crude palm oil prices. The company’s ad spends declined 15% on year with these spends standing at 9.5% of net sales.
Edelweiss Financial Services (24-10-2024)
Hey folks,
Does anyone have either a non paywalled version or a summary/note on this article?
PSUs fizzle out over unrealistic valuations, sluggish earnings (24-10-2024)
Nineteen out of 64 non-banking stocks have plunged between 40% and 55% from their yearly highs, while another 28 have declined by 30% to 40%. Overall, 64 state-owned corporates have lost nearly ₹8 lakh crore in market capitalisation since August 1, the day the BSE PSU index hit an all-time high.
GMR bags Rs 6,300 crore from Abu Dhabi Investment Authority, to free up pledged shares (24-10-2024)
GMR Infra Enterprises secured Rs 6,300 crore in funding from Abu Dhabi Investment Authority, enhancing the prospects of India’s aviation sector. The funds will help repay external debt, with an option to convert to equity. This strengthens GMR’s ability to support GMR Airports’ growth.
Rupee closes at record low for 3rd consecutive day (23-10-2024)
Traders said the next key level would be 84.15 per dollar. That was the weakest level in the non-deliverable forwards (NDF) market, which was touched a month ago.
Goldman Sachs takes note of a slow turn in the India story (23-10-2024)
The downgrade comes amid continuous selling by foreign portfolio investors (FPIs), who have offloaded Indian stocks for 17 consecutive days. So far this month, FPIs have sold shares worth ₹89,200 crore
L.A. Times Editorial Chief Quits After Owner Blocks Harris Endorsement (23-10-2024)
Mariel Garza said the editorial board was prepared to endorse Kamala Harris, but the paper’s owner, Patrick Soon-Shiong, decided not to make an endorsement in the presidential race.