Sagility a niche play, better to wait for stock to trade first
Sagility India, a business process management services provider to the healthcare sector, plans to raise Rs 2,106 crore through an offer for sale. The company offers services to US-based health insurers and hospitals. While it operates at a higher margin, it faces risks from single-sector and single-market exposure.
Hinduja Group needs DPIIT nod, too, for Reliance Capital buy
The Hinduja Group got approval from the Reserve Bank of India to buy Reliance Capital. The deal still needs a green light from the Department for Promotion of Industry and Internal Trade. The Hinduja Group secured funding for the acquisition. The group raised ₹3,000 crore by issuing debentures and planned to raise another ₹4,300 crore.
Don’t go overboard on gold: Wealth managers
Gold prices have risen 30.69% in rupee terms over the past 12 months, while it has gained 39.10% in dollar terms. During the same period, the Nifty 50 has gained 25.6%. In this calendar year, gold has so far gained 26% in rupee terms, while the Nifty gained 11.8%.
Rupee plunges to 84.11/$ as risk aversion rises ahead of US polls
The rupee depreciated 4 paisa, to close at 84.11/$1, versus its previous close of 84.07 per dollar, LSEG data showed. Likely interventions by the Reserve Bank of India (RBI) helped prevent a sharper decline. However, the RBI was not very aggressive in its dollar sales on Monday, traders said.
Bears rule Dalal Street ahead of US Polls, Fed meet
The Nifty ended at 23,995—the lowest closing since August 6, down 309 points or 1.3% over Friday’s close. The Sensex closed at 78,782, down 941.88 points or 1.2%. Both indices fell as much as 1.6% earlier in the day.
NSE Q2 net rises 57% to Rs 3,137 crore, income up 24%
NSE’s earnings per share rose to ₹12.68 as against ₹8.08 in September 2023, after a 4:1 bonus equity share issuance. For the half-year ended September 30, 2024, NSE’s consolidated total income was ₹9,974 crore, with a net profit of ₹5,704 crore.
Shares of oil marketing firms get a snub as crude weakens
Indian Oil (IOC) fell the most at 4.14%, Hindustan Petroleum (HPCL) and Bharat Petroleum (BPCL) were down over 3% at close on Monday. Brent crude January Futures were up about 2% after OPEC+ announced a voluntary delay in increasing crude output for the month of December. It was already delayed in October due to falling […]