Arvind Kejriwal vacated the Delhi Chief Minister’s residence and moved with his family to a new location in the Lutyens’ Zone. He will now live in party member Ashok Mittal’s official residence. Kejriwal resigned as chief minister in September and wants to regain the position in the upcoming Assembly polls. Atishi is expected to change her accommodation soon.
Barometers reverse losses; PSU banks rally (04-10-2024)
At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 211.74 points or 0.26% to 82,708.84. The Nifty 50 index rose 60.20 points or 0.24% to 25,310.30.
IDFC First Bank Limited (04-10-2024)
The merger of IDFC will attract the same tax treatment as that of Tata Motors DVR? If so, is it beneficial in liquidating the IDFC than getting it converted to IDFC Bank?
Zomato shares gain 2.39% as Sensex rises (04-10-2024)
A total of 1,071,620 shares changed hands on the counter till 11:31AM (IST)
Great articles to read on the web (04-10-2024)
One of the best s1 forms I’ve ever read is from Palantir. it’s a beautifully written document
https://www.sec.gov/Archives/edgar/data/1321655/000119312520230013/d904406ds1.htm
Form S-1 is a registration statement that a company files with the U.S. Securities and Exchange Commission (SEC) when it goes public
Why have microfinance stocks hit 52-week lows today? Check details here (04-10-2024)
The microfinance industry is currently facing a significant rise in delinquencies, primarily driven by increasing borrower indebtedness, apart from other factors.
Oswal Agro Mills: A bet on DRC (04-10-2024)
Based on the annoucement dated 16th September 2024, stating that the company has received 23 lakh sq. ft. area in the form of DRC. Based on a rudimentary calculation based on reputed articles, the company can sell these to other developers at Rs5000-6000 per sqft, thus a windfall gain of around 1000-1200 crores on a market cap of approx 1200 crores, this seems like a no-brainer. Additionally, this is tax-free income.
Furthermore, we could use this mechanism to value the remaining land in chembur, assuming that all of it were to be handed over to BMC in exchange for DRC, the remaining land could be valued at about 1500cr.
For those wondering,“TDR certificate/ Development Rights Certificate (DRC) is **a certificate issued by the competent authority to an owner or a lessee of the land on surrender of the gross ‘area’ of the land which is required for public purpose.”
Sundaram-Clayton spurts on launching QIP; floor price at Rs 2,320.78 /share (04-10-2024)
Sundaram-Clayton gained 4.38% to Rs 2,453.35 after the firm announced that its board has approved the opening of qualified institutional placement (QIP) issue of equity shares with the floor price of Rs 2,320.78 per share.
Diwali delight: Hyundai Motor India IPO to spark investor interest; details (04-10-2024)
The Hyundai Motor India IPO will mark the first time in two decades that a carmaker has gone public in India, following Maruti Suzuki’s listing in 2003
ACC shares up 0.23% as Nifty gains (04-10-2024)
The stock quoted a 52-week high price of Rs 2843.0 and low of Rs 1803.8.