Peak XV Partners sells 22 pc stake in Indigo Paints for Rs 1,557 crore; Morgan Stanley, HDFC MF among buyers
Peak XV Partners, formerly Sequoia Capital India and SEA, sold over 22% stake in Indigo Paints for Rs 1,557 crore to investors including Morgan Stanley, Mercer, and HDFC MF. The shares were sold via open market transactions. Following the sale, Indigo Paints’ shares fell by 4.19% on the NSE.
Baazar Style Retail makes a tepid debut, but analysts are bullish on long term prospects. Here’s why
Baazar Style Retail’s shares debuted flat on the bourses but closed 3% higher on Friday. The company, expanding rapidly with 162 stores, holds 3% market share in West Bengal and 2.2% in Odisha. Analysts view it as a promising medium-to-long-term investment despite competition and debt.
These 9 stocks plunge over 35% from their yearly highs
The Sensex dropped over 1,000 points during intraday trading today, potentially marking its fifth significant decline of 2024. ETMarkets analysis revealed nine BSE500 stocks have fallen more than 35% from their 52-week highs amid this downturn.
SpiceJet restructures $97 million dues to Carlyle Aviation into equity and debentures
Airline SpiceJet plans to convert about $97 million of its dues to Carlyle Group into equity and debentures. The restructuring aims to address the airline’s financial challenges and follows enhanced surveillance by the aviation watchdog due to operational deficiencies. The agreement includes issuing shares and transferring debentures to Carlyle.
What are Sebi’s UBO norms for FPIs and what needs to be done to save licence?
According to ET Now sources, the upcoming SEBI deadline for UBO compliance is expected to affect only a small number of FPIs. The report highlighted that even non-compliant FPIs can continue operations beyond the September 9th deadline by paying a 5% penalty. Additionally, these FPIs will be granted an extra six months to achieve compliance […]
Kross raises Rs 150 crore from anchor investors ahead of IPO
Kross Ltd has secured Rs 150 crore from 19 anchor investors ahead of its IPO. The company plans to raise Rs 500 crore through a fresh equity sale and an offer for sale by promoters. The funds will be used for capital expenditure, debt repayment, and working capital needs.
Fed’s Williams says time has arrived to start rate cuts
Federal Reserve Bank of New York President John Williams said Friday that a better balanced economy has opened the door to cutting rates, with the full course of action to be determined by how the economy performs.
Tech view: Nifty breaks 25,000 support, forms long bear candle. How to trade on Monday
The emergence of a long bear candle on the daily chart, coupled with a decisive break below the 25,000 support level, points towards a significant downward shift in the market. This pattern, according to Nagaraj Shetti of HDFC Securities, confirms a short-term top reversal at the 25,333 level.
No red flag in India but a period of extended low returns, or a pullback likely: Vikash Kumar Jain
Vikash Kumar Jain from CLSA discusses India’s bullish market trends, potential for low returns, and the recent growth in the pharma sector. He highlights the need not to view global sectors through the India lens and says that will be a blatant mistake. Jain expects increased investment flows into India only after there is rising […]
How will Biosecure Act impact Indian pharma companies? Aditya Khemka explains
We own a stock here called Jubilant Pharmova. The company was given a grant from the US government to create a manufacturing facility on the US soil and the US government would have the right of first refusal on production on the facility. And when the US government does not want to source material from […]