Page 386 - Markets

Wells Fargo to tap corporate bond market despite US credit downgrade

The deal comes just after Fitch downgraded the US sovereign credit grade one level to AA+ from AAA, arguing the nation's fiscal health will likely deteriorate over the next three years

IndiGo reports highest-ever profit of Rs 3,091 cr in Q1FY24, revenue up 30%

IndiGo Q1FY24 results: Sequentially, the profit jumped 236 per cent from Rs 919.8 crore profit

Broking industry revenues could be healthy in FY24, says Dhiraj Relli

As trading volumes are likely to be firm, broking industry revenues could be healthy in fiscal 2023-24 (FY24), even as the yields may not have much further to fall

Hindustan Petroleum results: Net profit at Rs 6,765 cr; income down 1.6%

The total income for Q1FY24 came in at Rs 1,19,761.74 crore, compared to Rs 1,21,829.51 crore year-on-year

P-note investments touch over 5-yr high of Rs 1.13 trn at June-end

Driven by stable macroeconomic fundamentals, investment in the Indian capital markets through participatory notes rose to Rs 1.13 lakh crore in June-end, making it the highest level in five-and-half years. This includes the value of P-note investments in Indian equity, debt, and hybrid securities. Also, this marks the fourth consecutive monthly increase in the investment level through this route, data with the Securities and Exchange Board of India (Sebi) showed. Participatory notes (P-notes) are issued by registered Foreign Portfolio Investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Sebi data, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- stood at Rs 1,11,291 crore at the end of June as compared to Rs 1,04,585 crore in May-end. In comparison, the investment through the route was Rs 95,911

Titan Company Ltd Q1FY24 results: Net profit at Rs 756 cr; revenue up 25%

The total income for Q1FY24 came in at Rs 12,011 crore, compared to Rs 9,487 crore year-on-year

Aditya Birla Capital Q1FY24 results: Net profit jumps 51% YoY to Rs 648 cr

The total income for Q1FY24 came in at Rs 9.82 crore, compared to Rs 7.98 crore year-on-year

Unifi Capital, 7 individuals pay Rs 38 lakh to settle case with Sebi

Unifi Capital and seven individuals have settled with capital markets regulator Sebi a case pertaining to the alleged violation of AIF rules on payment of Rs 38 lakh. The individuals are: Sarath Chandra Reddy Kakani, Krishnamurthy Narendranath, Govindasamy Maran, Christopher Vinod, Sandeep Nadigadda Reddy, M S Sundararajan and Rajgopalan Santhanam, Sebi said in the order. The order came after the noticees proposed to settle the instant proceedings "without admitting or denying the findings" through a settlement order. The adjudication proceedings initiated against the noticees (Unifi Capital, Kakani, Narendranath, Maran, Vinod, Reddy, Sundararajan and Santhanam) vide show cause notice dated October 19, 2022 is disposed of, Sebi's Adjudicating Officer Biju S said in the settlement order passed on Tuesday. In the show cause notice (SCN) issued to the noticees, it was alleged that Unifi runs a category III AIF, in which it invested in the mutual funds categorised as large capital fund

Godrej Properties Q1FY24 results: Net profit at Rs 121 cr; revenue up 44%

The total income for Q1FY24 came in at Rs 567.51 crore, compared to Rs 439.29 crore year-on-year

Sula Vineyards slips 8% on Rs 116-crore excise duty notice from Maha govt

The company said the order does not affect the existing business or the activities of the company

Orient Electric Ltd Q1FY24 results: Net profit at Rs 19 cr; revenue up 13%

The company's digital revenue recorded growth of 58 per cent YoY

Aeroflex Industries gets Sebi's clearance to raise money through IPO

Stainless steel flexible hose manufacturer Aeroflex Industries Ltd has received capital markets regulator Sebi's go ahead to raise funds through an initial share-sale. The initial public offering (IPO) consists of a fresh issue of equity shares worth up to Rs 160 crore and an offer-for-sale (OFS) of up to 1.75 crore equity shares by promoter entities -- Sat Industries and Italica Global FZC, according to the draft red herring prospectus (DRHP). The OFS comprises sale of 1.23 crore shares by Sat Industries Ltd and up to 52 lakh shares by Italica Global FZC. At present, Sat Industries owns 92.18 per cent stake in the company, while Italica Global FZC holds 6.52 per cent stake. "We have been informed by Aeroflex Industries Ltd, our subsidiary, that it has got clearance from the Securities and Exchange Board of India (Sebi) for its IPO, subject to the submission of requisite documents as per the final observation letter dated July 31," Sat Industries said in a regulatory filing on ...

Strides Pharma Q1FY24 results: Net profit at Rs 8 cr; revenue up 12%

The total income for Q1FY24 came in at Rs 486.9 crore, compared to Rs 430.6 crore year-on-year

Redington sinks 6% amid weak June quarter results

Redington reported a 21.2 per cent year-on-year decline in consolidated net profit at Rs 248.8 crore in Q1FY24. Ebitda margin fell 100bps YoY to 2 per cent

GE Power gets LoI for contact worth of Rs 444 crore; stock surges 13%

Thus far in the financial year 2023-24, the stock has outperformed the market by zooming 82 per cent as against 12 per cent rise in the S&P BSE Sensex

Ambuja Cements Q1FY24 profit up 31% YoY to Rs 1,135 crore, margins expand

Ambuja Cements Q1FY24 results: Shares of Ambuja Cement slipped 2 per cent in the intra-day trade to Rs 452 apiece

Q1 Preview: Airtel ARPU may near Rs 200-mark; Voda to see muted subs churn

Bharti Airtel Q1 preview: On average, analysts expect Bharti Airtel's consolidated net profit to rise around 60 per cent year-on-year (YoY) to Rs 2,676 crore in Q1FY24

Stocks to Watch on Aug 2: HeroMoto, Campus Activewear, Adani Wilmar, Titan

Stocks to Watch today, August 2, 2023: According to reports, Campus Activewear is expected to see a block deal for eight million shares at a price of Rs 295-300 apiece.

Sebi fines MSEI, its MD, CFO for flouting Securities Contracts rules

Capital markets regulator Sebi on Tuesday imposed a penalty totalling Rs 12 lakh on Metropolitan Stock Exchange of India Ltd (MSEI), its managing director Latika Kundu and HR head as well as chief financial officer Saket Bhansali for violating Securities Contracts rules. They have been directed to pay the fine within 45 days, the Securities and Exchange Board of India (Sebi) said in its order. In its order, Sebi found that MSEI during preparation of the books of accounts on a going concern basis failed to provide necessary projections in terms of Indian AS1 (Accounting Standard 1) and failed to seek relaxation regarding Key Management Personnel (KMP). Further, Kundu has failed to follow Standard Operating Procedure (SOP) while appointing employees, failed to designate a few employees as KMP and gave clean chit to the exchange's two officials -- Kundan Zamvar and Kunal Sanghavi, even after knowing the fact that their names were highlighted in anomalies concerning mismanagement in ...

Gold demand in India dips 7% YoY in June 2023 quarter as prices rise: WGC

High gold prices, and a knee-jerk reaction to the ban on Rs 2,000 notes during the recently concluded quarter, WGC said, also dented sentiment for gold