Investing News - Page 7
ICICI Bank ups stake in IL&FS by 5% to Rs 29 crore
IL&FS Engineering and Construction today said private sector lender ICICI Bank has increased its stake in the company by 5.36 percent for Rs 29 crore.
CLSA downgrades Bajaj Auto on weak demand; shares fall
CLSA downgraded Bajaj Auto to 'sell' from 'underperform', while maintaining its 'sell' rating on Hero MotoCorp and cited weak demand growth, a consumer shift to scooters over motorcycles, and rising competition.
Adani Power Rs 3.55 crore share sale offer oversubscribed
The offer to sell 3.55 crore shares of Adani Power by promoter entity Adani Agro was oversubscribed today.
Citi launches securities lending service in India
Global banking major Citibank's Securities and Fund Services today said it will offer securities lending services to its clients in India.
Axis Bank, ICICI Bank among top-ten MF commission earners
Banks seem to be taking away all the cream when it comes to earning commissions from sale of mutual funds, as there are as many as seven banks among the top-ten mutual fund distributors in terms of commissions paid to them.
Srei Infra sells 38% stake in Quippo Prakash for $122 mn
Private sector lender Srei Infrastructure Finance (SIFL) today said it has sold its 38 percent stakes in the derrik lay barge Quippo Prakash to a Malaysian firm SapuraKencana for a realisation of $122 million.
IFCI board approves conversion of Rs 923 cr bonds into equity
IFCI today said its board has decided to proceed with the conversion of Government of India bonds worth Rs 923 crore into equity.
Irda plans to align definition of infrastructure with that of CCI
The insurance regulator would align its definition of infrastructure with that of the Cabinet Committee on Infrastructure (CCI) and notify it soon.
Sebi asks entities to submit suspicious transaction reports
Market regulator Sebi has asked all the entities under its jurisdiction to submit suspicious transaction reports (STRs) electronically through a new direct online gateway to the Financial Intelligence Unit (FIU).
Investa Capital buys 8 lakh shares of Tech Mahindra for Rs 81 crore
Investa Capital Management today acquired around 8 lakh shares of software services provider Tech Mahindra for over Rs 81 crore through open market transaction.
Market to retain gains if Govt follows up with reforms, says UTI
The stock market is likely to be range-bound in the near term unless the Government succeeds in implementing the rash of reform measures announced this month to help boost investment and curtail fiscal deficit, a top fund house said today.
ACC Cement stock trades higher on Credit Suisse upgrade
Brokerage Credit Suisse has upgraded ACC Ltd to 'neutral' from 'underperform', saying cement prices have declined less than expected, while cost pressures are subsiding and capacity pressures are easing.
Discom bailout to have limited impact on Power Finance, says Barclays
<br /><br /> Barclays Capital added that Power Finance has limited discom exposure, and cited concerns about the recent run-up in its share prices.
Mutual funds may use AUMs for distribution biz: Sebi
The decisions follow deliberations by MFAC about mutual fund distributors in India not being regulated.
Cairn India down 3%; UK parent to sell stake in co again
Cairn Energy held 18.3 percent of Cairn India as of end-June, stock exchange data showed. After its latest share offering, its stake will fall to about 10 percent.<br /><br />
Govt extends holding limits on pulses, edible oils by one year
To check hoarding and contain price rise, the government today said the order restraining traders from holding stocks of pulses, edible oils and edible oilseeds beyond a limit will be in force for one more year.
BofA upgrades Tech Mahindra, Infosys on hopes of better earnings
Bank of America Merrill Lynch has upgraded Infosys and Tech Mahindra to 'buy' from 'neutral' citing improved revenue confidence and hopes of better earnings.
HDFC converts warrants worth Rs 3,285 crore
The largest mortgage player HDFC has alloted 5.47 crore shares worth Rs 3,285 crore on conversion of warrants on maturity to holders, who have made a profit of around 122 percent per unit.
Deutsche upgrades India Cements on attractive valuations
The investment bank has said India Cements was trading at the bottom of its 18-year range and looks to have factored in most of the negatives.
Macquarie upgrades Yes Bank to 'outperform' on high margins
Macquarie has upgraded Yes Bank to "outperform" from "neutral" and raised its target price to Rs 415 from Rs 380, saying current levels "offers good opportunity to accumulate."
Sebi office in Guwahati to educate N-E citizens on capital market
Besides Assam, Sebi earlier this month also announced setting up of offices in Bengaluru, Karnataka and Jaipur, Rajasthan.
Tech Mahindra plunges 3% on British Telecom stake sale
Shares of IT major Tech Mahindra plunges 3.41 percent after British Telecommunications said that it may sell part of its stake in the company through an open market transaction to raise an estimated Rs 500 crore.
'Investors staying away from heavy asset, debt-burdened cos'
The asset light, cash generating companies are trading in high multiples. Banks stocks itself have a large dispersion while high leverage, asset heavy companies are trading at lower PE, said ICICI Securities today.
JLL's investment arm achieves first close of maiden realty fund at Rs 101 cr
The objective of the fund is to invest in the residential sector in prominent location across seven cities in India, namely Delhi NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Chennai, Kolkata, Hyderabad and Pune.
BSE to remain open on 8 Sep, Saturday, for 1 hour
The opening on Saturday comes as the BSE is testing its disaster recovery software, allowing live trading during the time frame
KKR plans first India-specific debt fund of $1 bn
Global buyout fund Kohlberg Kravis Roberts (KKR) is in early stage discussions to launch a debt fund to invest in India that could raise between $750 million to $1 billion.
FM asks banks to cut EMIs, but do lower EMIs always work?
The Finance Minister has advised banks to reduce EMIs for consumer goods loans but does it really make sense to go in for a loan with a longer tenure and lower EMIs?
Reliance Capital completes 26% stake sale to Nippon Life
Reliance Capital said it has completed sale of 26 percent stake in its asset management and mutual fund unit to Japanese financial services giant Nippon Life for Rs 1,450 crore.
Lupin, UltraTech to replace SAIL, Sterlite in Nifty
Lupin and UltraTech Cement will be the new additions to the Nifty, the exchange said on its web site on Thursday.
Ashok Buildcon surges 11% after SBI, Macquarie agree to invest in co
State Bank of India, and Australia's Macquarie Group , have agreed to invest $150 million in a unit of infrastructure firm Ashoka Buildcon , sending the road builder's shares up by as much as 11.3 percent in early trade.