Big Movers on D-Street: What should investors do with Tata Steel, Cyient and Gland Pharma?
It is on the verge of a longer breakout from its long-term consolidation and poised for a fresh up move. Its higher bottoms on weekly charts protect the downside from current levels and risk-reward is in favour of longs.
Wall St ends higher; consumer prices, earnings eyed this week
Investors were digesting comments from several Fed officials who said on Monday additional rate hikes are needed to bring down inflation that is still too high, but the end to the U.S. central bank’s current monetary policy tightening cycle is getting close.
Utkarsh SFB gets price right, needs to build growth book
Utkarsh Small Finance Bank (SFB) plans to raise Rs 500 crore through an issue of fresh equity to augment the capital base. The promoter Utkarsh CoreInvest’s stake will fall to 69.3% after the IPO from 84.8%. The company has shown strong growth in the loan book, deposits and improvement in net interest income (NII), net […]
L&T adds ESG targets to residual tenure of BofA loan
The $150-million loan, due in 2025, has a residual maturity of about two years, which will now be linked to the company’s ESG targets.
Promoters cash in on rally, offload company shares
On June 30, promoters of air-conditioning generator manufacturer TD Power Systems sold 37.7 million shares for ₹835 crore. Shares of TD Power rallied 8% in the last three months and 20% in the last one year.
RIL sets Jio Fin’s demerger date, gains 4.6%; m-cap tops Rs 18.5 lakh cr
RIL shares closed at ₹2,735.25 apiece, up 3.86% from the previous close. Over 2 crore RIL shares exchanged hands on the BSE and NSE, four times its combined average daily volume for the last month, exchange data showed.
Cyient DLM lists at 51% premium
The stock hit a high of ₹426.45 and closed at ₹420.75, almost 59% over the issue price. The ₹592-crore-IPO of Cyient DLM was priced in the range of ₹250 to ₹265 apiece.
India to be world’s second-largest economy by 2075: Goldman Sachs
India will become the second largest economy in the world by 2075 surpassing not only Japan and Germany but also the US, stated a Goldman Sachs report on Monday. According to the investment bank report, as India’s population of 1.4 billion people becomes the world’s largest, its GDP is forecast to expand dramatically.
India beats China as most attractive emerging market
“India exemplifies the attributes sought by sovereign investors,” said Terry Pan, Invesco’s chief executive officer for Greater China, Southeast Asia and South Korea. Pan is the author of the report.