Stocks to buy: RIL, Infosys and Axis Bank on investors’ radar
Stocks that were in focus include names like RIL, which rose 1.07% and Infosys, which gained 0.6% and Axis Bank, whose shares fell 2.5% on Wednesday.
Oyo investors look to sell stake at $3.9-billion valuation
Hospitality startup Oyo’s early investors, such as Lightspeed Venture Partners, are in talks with family offices to divest a portion of their stake at a valuation of around $3.9 billion, sources told us. This stake sale is at a premium of more than 60% to the Rs 1,457 crore funding round in August 2024 when […]
Wall Street surges as inflation data, bank earnings fuel rally
The Labor Department said the consumer price index (CPI) increased the most in nine months as energy costs rose, although a measure of underlying inflation pressures subsided.
Rupee gains 30 paise to close at 86.36 as dollar takes breather
The Indian Rupee saw its best gain since June 3, strengthening to 86.36/$1 due to a softer dollar index and a contraction in the December trade gap. The Reserve Bank of India’s interventions helped stabilize the currency after its recent all-time lows, ahead of key US inflation data.
Q3 numbers a concern, mutual funds buy defensives
While healthcare and technology gain from a depreciating rupee, retail and consumer durables could benefit as consumption is expected to see a pick-up as retail inflation subsides in the coming quarter.
Proxy companies bat for ‘new’ vote on promoter pay
Proxy advisory firms urge regulators to implement a majority-of-minority voting mechanism for approving promoter remuneration, citing significant increases in payouts to promoters and conflicts of interest. A study shows that many resolutions benefiting promoters would be rejected under stricter voting rules, highlighting inequities in compensation.
No competing bids for Jaiprakash Associates, NARCL sole contender
National Asset Reconstruction Co remains the preferred bidder to take over Jaiprakash Associates after no competing bid was received. NARCL’s Rs 12,000 crore bid includes cash and security receipts backed by a government guarantee. JAL has been entangled in litigation and is one of the biggest insolvency resolution cases.
Kalyan Jewellers stock tumbles; company denies inducements
Executive director Ramesh Kalyanaraman dismissed this as “very absurd” in the call on Tuesday. The stock dropped 7% on Wednesday to close at ₹554.90, extending its losing streak to the ninth straight day. The 32% drop in the share price in this period has eroded the market cap of Kalyan Jewellers by ₹24,000 crore to […]
Airtel to outshine rivals in December quarter
The residual passthrough of tariff hikes taken in July 2024 and higher mobile broadband user additions are expected to aid Airtel’s Q3. To be sure, the impact of last year’s price hikes is likely to boost APPU of all three private carriers, with Airtel set to be the top gainer.