Page 90 - Stock Market

IPO-bound S K Finance raises Rs 1,328 crore capital from investors

Vehicle finance and business loans-focused non-bank lender S K Finance has raised Rs 1,328 crore from investors. Motilal Oswal Private Equity has pumped in Rs 415 crore for a minority stake in the 1994-incorporated, Jaipur-based company, as per a statement. Existing shareholders Norwest Venture Partners, TPG Growth, Baring Private Equity India, and new investors Duro Capital, Axis Alternatives, Ananta Capital, and Mirae Asset Venture Investments were among the other investors in the round, it said. The company has grown at a rate of 40 per cent annually on a compounded basis over the last six years till FY23, as per the statement. The latest fund infusion includes both fresh issue of shares and also secondary capital, it said.

Magma Ventures sells Poonawalla Fincorp's shares worth Rs 200 crore

Magma Ventures on Wednesday sold shares of non-banking financial company Poonawalla Fincorp for Rs 200 crore through an open market transaction. Magma Ventures, an entity owned by Chamria Family, disposed of shares of Poonawalla Fincorp on the National Stock Exchange (NSE). Sanjay Chamria and Mayank Poddar co-founded Magma Fincorp Ltd (now known as Poonawalla Fincorp Ltd). According to the block deal data available with the NSE, Magma Ventures Pvt Ltd offloaded 40.33 lakh equity shares, amounting to a 0.52 per cent stake in Poonawalla Fincorp. The shares were offloaded at an average price of Rs 495.85 apiece, taking the transaction size to Rs 199.97 crore. After the latest transaction, Magma Ventures shareholding have declined to nearly 1 per cent from 1.50 per cent stake in Poonawalla Fincorp. Meanwhile, Rising Sun Holdings Pvt Ltd (RSHPL) bought the shares at the same price. RSHPL, a company controlled by Adar Poonawalla. It is also the promoter of Poonawalla Fincorp. The scri

HDFC Bank offloads CAMS shares worth Rs 270 crore via open market

Private sector lender HDFC Bank on Wednesday offloaded shares of Computer Age Management Services (CAMS) for Rs 270 crore through open market transactions. According to the bulk deal data available with the stock exchanges, HDFC Bank Ltd sold 5.29 lakh shares of CAMS on the National Stock Exchange (NSE) and disposed of 4.71 lakh shares of the company on the BSE. The shares were offloaded in the price range of Rs 2,700-2,700.08 apiece on the bourses, taking the combined transaction value to Rs 270 crore. Meanwhile, Fidelity Invst Trust picked up more than 2.82 lakh equity shares of CAMS on the BSE. Details of the buyers on the NSE could not be ascertained. On Wednesday, the scrip of CAMS fell 0.25 per cent to close at Rs 2,733 apiece on the NSE, while it slipped 0.24 per cent to settle at Rs 2,733.30 per piece on the BSE.

Microsoft hits $3 trillion market value, cementing strength of AI rally

The stock rose as much as 1.3% to $403.95, resulting in a market capitalization of $3 trillion. The threshold cements Microsoft's status as one of the largest public stocks

Year after Hindenburg: Adani claws back narrative on biz fundamentals

It has a reputation of tearing down some of the best known corporates, and so when Hindenburg Research a year back accused the Adani Group of "brazen stock manipulation" and accounting fraud, it lead to a stock market rout that erased about USD 150 billion in market value at its lowest point. But unlike its previous targets, tycoon Gautam Adani, who was the world's second-richest man before the damning January 24, 2023 Hindenburg report, has managed to claw back the narrative on strength of his group's business fundamentals and performance as well as investors continuing to pour in money into his apples-to-airport conglomerate. The conglomerate vehemently denied all allegations as it redrew its strategy that included trimming debt through prepayments and repayments of borrowings, paring the founder's share pledge and bringing in both promoter and marquee investor equity. The strategy seems to be paying off with share prices of some of the 10 listed companies recovering all of the ..

Stock market of Hong Kong bounces after PBOC announces rate RRR cut

Mounting hopes that Chinese authorities would come to the rescue of the battered market with more measures and news of Jack Ma scooping up Alibaba Group shares also lifted overall market sentiment

Global funds sell most of Indian stocks since 2022 post-record rally

Global funds sold $2.4 billion of Indian shares on a net basis last week, the most since June 2022

China regulator removes draft video game rules from website, stocks jump

The link to the draft rules on the National Press and Publication Administration's (NPPA) website was inaccessible as of Tuesday morning, after having worked on Monday

Investors' wealth erodes by Rs 8.50 trillion as stock markets tumble

Equity investors became poorer by Rs 8.50 lakh crore on Tuesday as markets came under a bear attack, with the benchmark Sensex falling almost 1,053.10 points. Equity benchmark index Sensex tumbled 1,053 points to close below the 71,000 level on Tuesday, dragged down by index heavyweights HDFC Bank, Reliance Industries and SBI amid mixed global cues. Following the decline in the benchmark index, the market capitalisation of BSE-listed companies eroded by Rs 8,50,820.81 crore to Rs 3,65,97,915.97 crore. The market capitalisation of BSE-listed companies stood at Rs 3,74,48,736.78 crore on January 20. Domestic equities opened on a positive note but soon drifted into red witnessing a huge sell-off amid profit booking, said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Global sentiments turned cautious after a Fitch Group statement that South Asian economies would be most affected, amid rising hostilities in the Red Sea due to Houthi attacks and India'

Sensex sinks 1,668pts from day's high, hits 1-mth low of 70,200: Here's why

Nifty Realty, Oil & Gas indices declined up to 3 per cent, while Pharma index held 2 per cent gains. IT was the other gainer as investors rolled positions into defensive bets in the two segments

Stock of this smallcap industrial products company has zoomed 68% in 4 days

At 02:37 PM; STEL was quoting 13 per cent higher at Rs 107.08, as compared to 1.4 per cent decline in the S&P BSE Sensex

Fund managers burned in AI surge are giving up on active management

With the likes of Microsoft Corp. and Nvidia Corp. all but owning 2023's bull run, money managers faced a dilemma

Hong Kong stocks at 36% discount show true depth of China's gloomy outlook

The Hang Seng China Enterprises Index fell 2.4%, inching closer to a level last seen almost two decades ago, while the onshore benchmark CSI 300 Index finished 1.6% lower

Ayodhya Ram mandir 'pran pratishtha': Are stock markets, banks open today?

Ayodhya has geared up for the much-awaited 'pran pratishtha' ceremony of Lord Ram Lalla in the newly built Ram Janmabhoomi Temple

Bharti Hexacom files DRHP for IPO, TCIL to sell up to 100 million shares

Bharti Hexacom has filed a draft red herring prospectus (DRHP) for a proposed IPO that entails an offer of sale by Telecommunications Consultants India Ltd, according to a regulatory filing. The IPO will not have any fresh issuance of equity shares and since it is an offer for sale or OFS, Bharti Hexacom will not receive any proceeds from the IPO. "We wish to inform you that Board of Directors of the company at its meeting held on Friday, January 19, 2024, have approved the IPO of equity shares of face value Rs 5 each comprising of an offer for sale of up to 100000000 (10 crore) equity shares by Telecommunications Consultants India Ltd, subject to such variation as permitted under applicable law," the BSE filing said. Accordingly, the company filed a draft red herring prospectus on Friday with SEBI, for a proposed IPO for the offer by Telecommunications Consultants India Ltd. The offer represents 20 per cent of the paid-up equity share capital of Bharti Hexacom. "The IPO shall not

Sensex falls 260 pts in fag-end, Nifty holds 21,550; FMCGs crack, PSBs soar

Stock market highlights on January 20, 2024: Among sectors, the Nifty IT, and FMCG indices fell 1 per cent each, while the Nifty PSU bank index added 1.9 per cent

Asian Paints needs fresh coat as margin pressures build up in markets

As competition intensifies, brokerages turn pale on paint maker's stock

Market rally has margin trading book hitting record Rs 54,537 crore in Jan

The recent market rally that lasted till earlier this week has the margin funding book of brokers nearly soaring 90 per cent Rs 54,537 crore as of January 16, a lifetime high for the segment, show the data from the exchanges and a research report. The margin funding, wherein an investor pays 25-35 per cent of the stock value he or she buys and the rest is paid by brokers for a monthly interest of 12-15 per cent, stood at Rs 29,000 crore for the whole of January 2023 but jumped to Rs 54,537 crore as of January 16, 2024. The market rally also had the cash segment of the market jumping to a record 25 per cent in December 2023, according to an analysis by Icra Ratings. With the recovery in secondary market returns from Q2FY24, the margin trade funding (MTF) book of brokers in general and especially those led by banks, has been achieving new highs. The aggregate industry-wide MTF exposure soared 98 per cent from March 2023 when it was Rs 26,000 crore to Rs 51,000 crore in December 2023,

Ethiopia opens up to foreign investment firms ahead of markets launch

The justice ministry authorised the capital markets regulator this week to go ahead with issuing the licences, said Brook Taye, Director General of the Ethiopian Capital Market Authority

Sensex slips for 3rd day, dips 314 pts; OFSS up 27%, LTIMindtree tanks 11%

Stock market highlights on January 18, 2024: HDFC Bank slipped 3 per cent after falling over 8 per cent Wednesday