Adani Enterprises files papers for Rs 20,000 crore FPO
The FPO could result in the stakes of promoters led by Gautam Adani falling by 3.5%. As of September 2022, the promoters owned 72.63% of Adani Enterprises, while the remaining 27.37% was with public shareholders. Life Insurance Corporation held 4.03% among the public shareholders, while Nomura Singapore, APMS Investment Fund, Elara India Opportunities Fund, and […]
Analysts expect upside of up to 20% in HDFC Bank on Q3 cheer
Of the 31 analysts tracking the stock, 30 have a ‘buy’ or ‘outperform’ rating while one has a ‘hold’ rating. On aggregate, these analysts expect the stock price to hit ₹1,904.6, which translates into a 20.1% upside potential from the current levels, showed a Bloomberg poll of analysts.
Investor fund body moots easier rules for reclaiming shares
The authority also suggested that a time frame be introduced for reclaiming such shares. As per the proposal, claimants would be able to reclaim their shares if they apply within the stipulated time. Thereafter, the authority would sell the shares and convert them into money and the claimants would get the sale value of shares […]
Banks’ dollar buys, FPI sales weigh on rupee
However, the gains have been short-lived as the local unit has been impacted by outflows from foreign portfolio investors (FPIs) and persistent dollar buying by state-owned banks likely on behalf of the Reserve Bank of India (RBI) prevented the rupee from rising further.
States’ fiscal on a mend, should use good times to build a capex kitty
The central bank has suggested that states consider creating a capital expenditure buffer fund in good times and not treat capex as residual and the first stop for cutbacks.