Aditya Birla Capital to raise up to $213 million via share sale
India’s Aditya Birla Capital has proposed to issue equity shares worth up to 17.5 billion rupees ($213.5 million) through a qualified institutional placement (QIP), according to a term sheet seen by Reuters.
Big Movers: What should investors do with Shree Cement, Policybazaar and Apar Industries?
Indian equity benchmarks showed little movement on Monday as global markets weakened. Shree Cement’s stock fell, Policybazaar rose while Apar Industries saw a sudden increase in share value. Investors are recommended to sell Shree Cement’s shares, buy on dips Policybazaar’s shares, and buy on dips Apar Industries’ shares as they continue their prior rising trend. […]
ETMarkets Smart Talk- India is a beneficiary of FII flows; pace of recovery slows in China: Unmesh Sharma
India stands out amongst other EMs due to lower external vulnerabilities, strong corporate balance sheet strength and an expected 2 year earnings CAGR of 16% for the headline index.
ETMarkets Fund Manager Talk-This Rs 11,000 cr fund manager sees 5 sectors chasing smart money near term
Valuation is in the above average zone, yet comfortable given the lack of leverage in the corporate sector and ROE profile improving materially from the lows.
Cyient DLM chip off a known block, needs time to scale up
Listed IT company Cyient is the promoter of the company. Given the rich valuation, high risk-taking investors may consider the IPO to participate in a high growth segment of electronics manufacturing services (EMS) with a focus on the complex area of aerospace and defense, robust order-to-bill ratio, and earnings boost from higher utilization.
Radios, tape recorders, 2-in-1s remain on CPI playlist
In the January-May period, prices of radios, tape recorders and 2-in-1s were up 9.4% from the year earlier. In the case of VCR, VCD and DVD players, inflation was 12.6% in the first five months of the year.
Market indicators hinting at fatigue
Analysts said gains in the stock market have been restricted in the past when 70% of the stocks on the NSE 500 index trade above the 200-DMA.
RBI announces portfolios for deputy governors
Janakiraman will look after the departments of consumer education and protection, supervision, financial inclusion and development, inspection, premises, and Rajbhasha. Deputy governor Michael Patra will handle the departments of monetary policy, financial markets regulation, financial markets operations, deposit and credit guarantee corporation, and economic and policy research, amongst others.
RBI in talks with leading global peers to promote digital payments
Barely months before unveiling the CBDC pilot in both retail and wholesale segments, the central bank allowed rupee settlement for international trade as a step towards internationalisation of the rupee. Banks from 18 countries have opened rupee vostro accounts since July last year, helping their importers settle payments in the rupee.
Textile slump mutes debt-laden Sumeet Industries appeal for suitors
Bids for the debt-laden textile company Sumeet Industries have been weaker than lenders’ expectations as high input costs and weak demand in the industry have kept large bidders away. Banks received bids ranging from ₹90 crore to ₹150 crore indicating a recovery of just 22%, much lower than the ₹250 crore or 40% recovery expected.