AXY Financial News

₹740 crore through an initial public offering (IPO). The company's IPO comprises a fresh issue of up to ₹240 crore and an offer-for-sale (OFS) of equity shares aggregating up to ₹500 crore by a promoter and investors, according to the draft papers.

Nifty50 ending 0.20% lower weak-on-weak riding on the back of prominent block deals which were worth Rs 8,423 crore and were executed in more than three dozen companies from the large, mid and small cap segments. The deals saw both buying and selling action.

₹2700 crore in Niva Bupa, a general insurance company, to its joint venture partner Bupa, an international healthcare company headquartered in the UK. The equity fund company is also looking at raising around ₹1,100 crore in primary capital which will value it at a post-money valuation of ₹12,600 crore. The company is looking at listing on Indian bourses in the next 12-15 months, a senior fund official said.

Accenture warns of first-quarter revenue below estimates as IT spending remains under pressure (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Experts underscore that Accenture's fourth-quarter performance and Q1FY24 outlook have raised concerns about the Indian IT sector over the near-term demand environment. "Accenture's management highlighted CMT (communications and media consulting) and North America as the key weak area, which we see as negative for Tech Mahindra (about 40 per cent communications exposure).

The best part of their performance this year is that the large cap schemes have managed to outperform their benchmarks in 2023. The large cap category had been struggling to beat their benchmarks for sometime. However, the category salvaged their reputation in 2023. As said earlier, the actively-managed large cap mutual fund category has 30 schemes. Around 24 actively-managed large cap schemes managed to outperform their respective benchmarks in 2023. Only six schemes underperformed their benchmarks. The large cap schemes are benchmarked against NIFTY 100 — TRI and S&P BSE 100 — TRI. During this year so far, these benchmarks gave 8.53% and 10.91% respectively.

TCS) retained its top position as India's most valuable brand for the second consecutive year with a brand value of $43 billion, capitalising on the global demand for digital transformation, despite a tough year for the business technology segment in general. In the BrandZ study, conducted by WPP and Kantar, HDFC, Infosys and Airtel ranked second, third and fourth, retaining their positions from last year, while State Bank of India rose one place to enter the top five.

Meanwhile, the market capitalisation of all listed companies on BSE declined by Rs 1.82 lakh crore to Rs 317.79 lakh crore. Among Sensex stocks, Tech Mahindra, Asian Paints and M&M were the top laggards, falling 3-4%. ITC Titan, Wipro, HUL, and Infosys also declined.

Flipkart Big Billion Days 2023 sale have been unveiled. The online shopping sale will start on October 8 and run for an entire week.

The NSE Nifty index traded 50.1 points down at 19666.35, while BSE Sensex was down 172.0 points at 65946.69 as of 11:20AM(IST)on September 28. In the Nifty index, Larsen & Toubro Ltd.(up 2.57 per cent), Adani Ports & Special Economic Zone Ltd.(up 0.94 per cent), Sun Pharmaceutical Industries Ltd.(up 0.79 per cent), Axis Bank Ltd.(up 0.76 per cent) and Power Grid Corporation of India Ltd.(up 0.75 per cent) were among the top gainers.

Bandhan Bank Ltd.(up 0.93 per cent), Axis Bank Ltd.(up 0.67 per cent), Punjab National Bank(up 0.49 per cent), Bank of Baroda(up 0.44 per cent) and State Bank of India(up 0.27 per cent) were among the top gainers. Au Small Finance Bank Ltd.(down 2.31 per cent), Kotak Mahindra Bank Ltd.(down 1.41 per cent), Federal Bank Ltd.(down 0.69 per cent), ICICI Bank Ltd.(down 0.6 per cent) and IDFC First Bank Ltd.(down 0.3 per cent) were the top losers on the index.

Karma Energy(up 4.94%), Reliance Power(up 2.86%), RTNPOWER(up 2.17%), KEC International(up 2.08%), Adani Energy Solutions(up 1.81%), Transformers and Rectifiers(India)(up 1.63%), PTC India(up 1.47%), Indowind Energy(up 1.46%), Alstom T&D India(up 1.33%) and DPSC(up 1.16%) were among the top gainers. Voltamp Transformers(down 2.26%), Orient Green Power Company(down 1.42%), JSW Energy(down 1.17%), NLC India(down 0.76%), ADANIGREEN(down 0.66%), Jaiprakash Power Ventures(down 0.48%), Gujarat Industries Power(down 0.32%), Power & Instrumentation(Gujarat)(down 0.32%) and Adani Power(down 0.08%) were among the top losers.

KCP Sugar & Industries(up 4.29%), Balrampur Chini Mills(up 2.50%), Ponni Sugars(Erode)(up 2.20%), Mawana Sugars(up 2.20%), EID Parry(up 2.13%), Rajshree Sugars & Chemicals(up 1.99%), AVADHSUGAR(up 1.86%), BAJAJHIND(up 1.68%), Sakthi Sugars(up 1.66%) and Triveni Engineering & Industries(up 1.48%) were among the top gainers. Ugar Sugar Works(down 0.59%) and DCM Shriram Industries(down 0.42%) were among the top losers.

Madhav Marbles and Granites(up 2.94%), Ashapura Minechem(up 2.35%), Lexus Granito(up 1.74%), NMDC Ltd(up 0.67%), KIOCL(up 0.55%) and Gujarat Mineral Dvpt Corporation(up 0.35%) were among the top gainers. Pokarna(down 1.10%), Oriental Trimex(down 0.68%), MOIL(down 0.35%), Orissa Minerals Development Company(down 0.27%), Coal India(down 0.21%), Aro Granite Industries(down 0.17%) and 20 Microns(down 0.04%) were among the top losers.

The NSE Nifty index was trading 28.1 points down at 19688.35, while BSE Sensex was down 127.0 points at 65991.69 at the time of writing this report. In the Nifty index, Larsen & Toubro Ltd.(up 1.75 per cent), Axis Bank Ltd.(up 0.92 per cent), Tata Steel Ltd.(up 0.78 per cent), Bajaj Auto Ltd.(up 0.77 per cent) and Oil And Natural Gas Corporation Ltd.(up 0.72 per cent) were among the top gainers.

The S&P BSE Sensex rose more than 170 points while the Nifty50 closed above 19700 on Wednesday. India VIX was up by 3.62% from 11.18 to 11.58 levels in the previous trading session.

Protean eGov Technologies (formerly NSDL e-Governance Infrastructure) is planning to make an initial public offering of around Rs 1,200-1,300 crore by the end of October, people privy to the development said. “The company will submit its updated draft red herring prospectus before markets regulator Securities and Exchange Board of India this week … It aims to launch the IPO to the public by the third or fourth week of October,” one of the people said.

Nomura has upgraded its ratings on India to 'overweight' as it sees the recent 'softness' in the stock market driven by higher oil prices as an opportunity to raise bets here. The firm's top stock picks in India include ICICI Bank, Axis Bank, L&T, Reliance Industries, ITC, Medplus Health, and Uno Minda. «We see recent softness driven by higher oil prices as an opportunity to raise exposure,» said Nomura's analysts including Chetan Seth, Anshuman Agarwal, and Ankit Yadav in the firm's Asia strategy note to clients.

Khadim India will meet on September 29 to consider and approve a proposal for the demerger of its distribution business into KSR Footwear. «The Board meeting will be held on Friday, September 29, 2023, inter alia, to consider and approve the Scheme of Arrangement between Khadim India Ltd (Demerged Company) and KSR Footwear (Resulting Company) and their respective shareholders and creditors under Section 230 to 232 read with other applicable provisions of the Companies Act, 2013, w.r.t. the demerger of the Distribution Business of the demerged company into the resulting company, as a going concern,» the company said in a filing. Following the announcement, the company's shares jumped nearly 4% in intraday trade and were last trading at Rs 276.50. Khadim India is one of India's leading branded footwear retail players in terms of exclusive stores operating under the Khadim's brand.

(Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Jain is a senior banking professional with three decades of work experience which includes 23 years in Standard Chartered Bank. He has worked in diverse geographical locations throughout India serving all client segments like Large Local Corporates, Strategic Groups, Middle Market Companies, Supply Chain Finance, Transaction Banking sales, Multinational Corporates, Financial Institutions, and SMEs.

Flipkart, Blaupunkt, has introduced its newest entry into the television market, which is 43-inch QLED & 55-inch 4K Google TV. The newly launched TVs start at a price of Rs 28,999 while the 55-inch Google TV model is available at Rs. 34,999. The sale of Blaupunkt's 55 and 65-inch TVs has seen an astounding 300% jump in sales over the last year. The launch in exclusive collaboration with Flipkart took place on Wednesday.

Click here!) Adani Enterprises, HDFC Bank, Axis Bank, ITC and Tata Consumer are the stocks that will see their weight up in the Nifty 50 index. On the other hand, the weight of Adani Ports, Wipro, JSW Steel, Reliance Industries and Infosys will go down in the Nifty 50 index, said Pagaria.