City gas distribution cos’ stocks jump on UBS’ bullish outlook
UBS said that the city gas space is at a critical point where smaller entities are turning sellers and strategic partners due to issues such as non-performance from new/small entities, infrastructure-commitment defaults, gas-sourcing challenges and capital constraints. that consolidation of smaller players in the city gas space.
NBFC deposit base grows 21% in FY24 as banks struggle
Non-bank lenders in India have expanded their deposit base by 21% in FY24, outpacing banks’ 13.5% growth, according to RBI data. Major NBFCs like Bajaj Finance and Shriram Finance offer higher interest rates than banks, making them attractive to savers. The number of deposit-taking NBFCs has been reduced to 25 from 34 last year.
PN Gadgil Jewellers stock debuts at a premium of 72.9% on NSE
The offer was a fresh issue of ₹850 crore and an offer for sale of ₹250 crore. The company had a market capitalization of ₹10,692.5 crore at close on Tuesday.
Crypto-based platform to Wager on US Prez poll
The trading firm Wintermute Trading, which offers liquidity for digital assets by buying and selling them in the crypto market, is collaborating with crypto risk manager Chaos Labs to launch a betting market next week that will focus on the outcome of the contest.
FPIs make a beeline for India in September on hopes of Fed rate cut
Foreign portfolio investors (FPIs) are back with a bang in the Indian equity market in September on hopes that the US Federal Reserve would start reducing interest rates soon, triggering more fund flows into emerging markets.
Brokerage Investec begins coverage on Adani Green Energy
The brokerage said that AGEL’s growth will primarily be led by its plans for 30GW (gigawatt) and 11GW installations in Khavda, Gujarat and Rajasthan respectively, where it has access to large resource rich land banks along with evacuation facilities. It will take the total production capacity to 50+GW by FY30.