Bajaj Finance Q2 Updates: Loans jump 26% YoY; AUM rises 33% to Rs 2.9 lakh crore
The company also witnessed expansion in its customer franchise as of September 30, 2023, which stood at 76.56 MM as compared to 62.91 MM as of September 30, 2022. In Q2 FY24, the customer franchise increased by 3.58 MM.
IHC raises stake in Adani Enterprises
IHC boosted its holding in Adani Group flagship AEL to more than 5% from the 3.53% stake it first acquired in May 2022 for ₹7,700 crore. The investor last week disclosed that it would sell its stakes in Adani Green Energy and Adani Energy Solutions (formerly Adani Transmission).
In major rejig, HDFC Bank splits retail loans division
HDFC Bank chief executive Sashidhar Jagdishan has split retail loans into mortgage and non-mortgage segments, with two group heads and two regional heads for branch banking, which would be pivotal for liability growth – a key investor metric for the biggest Nifty constituent by weighting.
RBI may take OMO route for g-securities sales
The jury is out on how the Reserve Bank of India (RBI) plans to solve this problem. Some analysts believe the RBI may dust off a toolkit unused since 2017 – of organising standalone large-scale open market sales of sovereign debt.
Vedanta raises Rs 2,500 crore from Oaktree for refinancing, capex
Two funds backed by Oaktree Capital subscribed to the non-convertible debentures maturing on March 27, 2025. Vedanta has offered a 12% upfront cash coupon and will also pay an ‘arrangement coupon,’ documents show.
FPI-heavy stocks bear the brunt of pullout
“FPI selling on one hand and domestic participants buying is creating a performance gap in stocks where FPI holding is higher,” said Siddarth Bhamre, research head of Religare Broking.
‘Build India’ stocks with big order books build a D-Street fan base
With order books at probably the highest levels in recent years, market participants are willing to ignore record-high valuations in many of these stocks. L&T remains the top pick of analysts. Others include KNR Infra, NCC, Ashoka Buildcon, KEC International, and Kalpataru.
Vedanta demerger plan credit negative: CreditSights
CreditSights has maintained its ‘buy’ recommendation for Vedanta Resources but said it would prefer April 2026 bonds of the company.