Hot Stocks: Brokerages on Exide, Infosys, Maruti Suzuki and Paytm
Morgan Stanley maintained an overweight rating on Maruti Suzuki but raised the target price to Rs 14,322 from Rs 11,228 earlier.
Gland Pharma shares fall 6% as ex-promoter likely sells stake in block deals
Shares of Gland Pharma dropped 6% to Rs 1,745 on BSE as entities related to ex-promoter Dr Ravi Penmetsa sold 5.5% equity. Large block deals of 91 lakh shares worth Rs 1,600 crore reported.
F&O Ban List: SAIL, 2 more stocks under trade ban on Tuesday
The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban is reversed only if the open interest falls below 80%.
Local MFs tighten equity AUM grip further, close in on FPIs
In the last five years, the share of local funds rose by more than 500 basis points aided by an investment of Rs 5.3 lakh crore compared with Rs 3.1 lakh crore poured by foreign portfolio investors.
Bandhan Bank tanks over 6% after CEO Ghosh steps down
Brokerages Jefferies and Nomura have slashed their target prices for the stock of the Kolkata-based lender that emerged as a full-service bank after decades of operations as a microfinancier.
Muthoot Microfin posts 32% AUM growth in FY24
Muthoot Microfin, a listed pure-play microfinance lender, reported a 32% year-on-year growth in assets under management (AUM) along with a significant improvement in loan collection efficiency, leading to enhanced profitability. Its AUM reached Rs 12,194 crore by the end of March, with loan disbursement rising by 32% to Rs 10,662 crore in FY24.
Bain Capital to sell 1.08% stake worth Rs 3,575 crore in Axis Bank
Bain Capital acquired its stake in Axis Bank in November 2017. BofA Securities India is the sole bookrunner. In June, Bain Capital sold a 0.7% stake in Axis Bank at an average price of Rs 968 per share, aggregating Rs 2,178 crore. Prior to this, the private equity firm had sold a 1.2% stake in […]
SC upholds NAFED tender for export of 35,000 tonne non-basmati white rice
Supreme Court approves NAFED’s 35,000-tonne rice export to Cote D’Ivoire, dismissing the Rice Exporters Association of India’s appeal. Delhi High Court had earlier supported NAFED’s tender. No conflict of interest found by the Supreme Court.
Banks must play bigger role in rupee derivatives: RBI
“Participation of domestic banks in derivative markets remains limited with only a small set of active market-makers… Domestic banks are dealing with market-makers in global markets rather than with end clients and are yet to emerge as market makers of note globally,” Das said at a conference of fixed income market participants in Barcelona.
Auto has enough horsepower to race on high-way and overtake
Maruti Suzuki, Mahindra & Mahindra and Eicher Motor gained around 3% each, hitting new highs during the trading session. Battery maker Exide soared 16.8% to new record levels. TVS Motor rose 3.2%.