“Won’t quit, committed no wrong,” says Karnataka CM Siddaramaiah over MUDA scam allegations (26-09-2024)
Karnataka Chief Minister Siddaramaiah has denied any wrongdoing in the allotment of 14 sites to his wife by the Mysuru Urban Development Authority, calling the charges a BJP conspiracy. Despite a special court ordering a probe, Siddaramaiah and Deputy Chief Minister D K Shivakumar have ruled out his resignation, vowing to fight the allegations legally.
Indostar Capital Finance Limited (26-09-2024)
My takeways from Indostar Concall on the transaction:
- Transaction to conclude by Q4 FY 2025 or Q1 FY 2026
- Book Value addition of Rs 70 post transaction
- Proceeds utilization will be decided by management when they are near to receiving money
- ROA/ROE accreditive deal in coming 2-3 years and exact ROA impact will be shared later
- No plan to takeover any other company with this proceeds( 1300 crores+ post Tax-Cash balance)
- Cost of funds will also decrease in coming quarters
Which sectors will be beneficiaries of National Electricity Plan? Care Rating’s Sabyasachi Majumdar explains (26-09-2024)
The new National Electricity Plan is set to benefit transmission companies and equipment manufacturers. With a projected power demand growth, significant investments are expected in transmission and renewable energy sectors. The plan aims to address future power needs, including green hydrogen and electric vehicles, requiring substantial funding and capacity additions.
Indogulf files IPO with Sebi, aims to raise Rs 200 cr via fresh issue (26-09-2024)
Indogulf Cropsciences Ltd, a manufacturer of crop protection products, plant nutrients, and biologicals, has filed preliminary papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO).
The Delhi-based company’s IPO is a mix of fresh issues of up to Rs 200 crore and an Offer For Sale (OFS) of up to 38.55 lakh equity shares by selling shareholders. The offer also includes reservations for eligible employees, according to the Draft Red Herring Prospectus (DRHP).
The OFS comprises the sale of 15.41 lakh equity shares by Om Prakash Aggarwal (HUF) and 23.14 lakh equity shares by Sanjay Aggarwal (HUF).
Proceeds from the fresh issue to the extent of Rs 100 crore will be used for funding working capital requirements of the company; Rs 40 crore for payment of debt, Rs 14 crore for setting up an in-house dry flowable plant at Barwasni Sonipat, Haryana; and a portion will be used for general corporate purposes, as per the draft papers filed on …
Adani Ports and 4 other stocks that posted highest quarterly profit in Q1 vs last 10 quarters (26-09-2024)
Achieving the highest quarterly net profit in the last 10 quarters indicates strong financial performance and growth for the company.
IEX shares tumble 15% from all-time high hit 2 days ago. What lies ahead? (26-09-2024)
After reaching a 52-week high of ₹244.40 on September 24, shares of the Indian Energy Exchange (IEX) have since fallen 15%, nearing a key support level at ₹200. This decline follows reports of potential market coupling for power exchanges, expected to be implemented by the end of the current fiscal year or the start of FY26, which may impact IEX’s market dominance.
CDSL – Stock for our children (26-09-2024)
Highlights of the revised tariff are as follows:
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Uniform tariff of Rs. 3.50 per debit transaction
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The discount applicable to the following transaction types prior to the revision in
tariff shall continue:
Discount of Rs. 0.25 per debit transactions done by female demat account holders (as sole holder or first holder)
Discount of Rs. 0.25 per debit transaction in Mutual Fund and Bond ISINs.
Earlier, CDSL had a rate per debit transaction that was in the range of ₹3.75 to ₹5.5. Does anyone know how this range was decided for the transaction?
Will this have any impact on margins?
Karnataka CM Siddaramaiah refuses to comment on demand for his resignation, BJP stages protest (26-09-2024)
Karnataka Chief Minister Siddaramaiah has refused to comment on BJP-JDS protests demanding his resignation and a CBI inquiry into the MUDA scam. Opposition leaders argue that the High Court has termed it a scandal, questioning the impartiality of a government-led investigation. Siddaramaiah insists he will face the charges legally.