Vedanta to use Rs 8,500 crore QIP to repay Union Bank of India, Oaktree and Deutsche Bank
The funds raised will help reduce overall indebtedness, cut debt servicing costs, and improve the debt-to-equity ratio. It will enable better utilisation of internal accruals for business growth and expansion, Vedanta stated in its QIP filing to stock exchanges.
Ola Electric IPO pricing likely at about 25% lower than private valuation of $5.4 billion: sources
Ola Electric is launching a $4 billion IPO, 30% below its last valuation. The IPO seeks Rs 5,500 crore through a fresh issue and 95.2 million shares offer-for-sale. Initially targeting $6-7 billion, the valuation was adjusted to entice investors for post-issue profit.
Sebi proposes new asset class between mutual funds and PMS with Rs 10 lakh ticket size
Eligible mutual funds must have a minimum operational history of 3 years and an average AUM of at least Rs 10,000 crore over the same period. Additionally, neither the sponsor nor the AMC can have faced any regulatory action under sections 11, 11B, or 24 of the SEBI Act, 1992 within the past 3 years.
Prabhudas Lilladher recommends buying these 3 tyre stocks with upto 25% upside
Apollo Tyres’ recent higher bottom formation on the daily chart, supported near the 518 level, signals a positive bias for further gains. The Relative Strength Index (RSI) has retreated from overbought territory, suggesting continued strength and potential for upward movement. A break above 560 would confirm a breakout and trigger further advances.
These 6 energy stocks hit fresh 52-week highs; rallied up to 30% in a month
52-week high provides an important benchmark for traders and investors. This milestone helps evaluate the current valuation of a stock.
Tech View: Nifty forms another Doji candle. Here’s how to trade on Thursday
The near-term uptrend of Nifty continues to hold strong. Although Nifty is consolidating at higher levels, there is no indication of a significant reversal pattern forming at these highs. A further upward movement could push Nifty towards the 24,900 mark next week. Immediate support is positioned at 24,450 levels, according to Nagaraj Shetti of HDFC […]
Govt likely to stick to fiscal consolidation path, focus on rural economy: Santanu Sengupta, Goldman Sachs
“When government spending on capex was raised from 1.5% of GDP to over 3% of GDP, that provided a positive impulse to growth. It cannot continue with that kind of growth rate anymore and will flatten out. So, it will be around 15% for capex growth against the budgeted number of 17% YOY.”
Jio Financial Services shares dip 2% after Q1 results disappoint
Jio Financial shares fell 3% to Rs 346.80 following a Q1FY25 net profit drop to Rs 313 crore. Revenue was Rs 418 crore, interest income Rs 162 crore. Sequential net profit increased to Rs 311 crore. Standalone PAT recorded Rs 72 crore. Shares surged 48% year-to-date since August 21, supported by partnerships with 31 insurance […]
SpiceJet shares surge over 7% on reporting consolidated profit in Q4
SpiceJet shares surged 7% on Tuesday, reaching Rs 60, following the airline’s Q4 profit announcement of Rs 127 crore. This marked a turnaround from losses of Rs 6.2 crore and Rs 299 crore in the March and December 2023 quarters, respectively. On a standalone basis, the low-cost carrier reported a sixfold surge in net profit […]
Q1 results today: Bajaj Auto, L&T Finance among 24 companies to announce earnings on Tuesday
24 firms, including Bajaj Auto, L&T Finance, Just Dial, DB Corp, and BMW Industries, will announce Q1 results. Bajaj Auto anticipates a robust Q1 with 7% volume increase, expanded EBITDA margins, and 17% profit growth. Century Textiles, Deccan Bearings, Jubilant Ingrevia, Network18 Media also to be monitored. Bajaj’s 14% sales growth echoes March quarter success.