Booking Financial News

Remember Priyasha Saluja of Shark Tank fame who tried to impress the judges/ sharks by pointing out her high credit score? Not only her claim evoked laughter and appreciation, one of the judges Aman Gupta attributed his final offer to her high score i.e., 838. 

Kesoram has completed the refinancing of its nearly Rs 1900 crore high-cost debt, yielding a benefit of almost 800 basis points in interest rates, a senior company official said on Thursday. The company borrowed approximately Rs 1900 crore in March 2021 from a group of investors in Non-Convertible Debentures (NCDs) and Optionally Convertible Debentures (OCDs) at an interest rate of close to 19 per cent. On Thursday, the company announced the redemption of the entire outstanding outstanding NCD amounting to Rs 1487 crore before maturity. OCDs were redeemed earlier, officials said. «We have refinanced the entire debt on our books. We have refinanced about Rs 1500 crore from Tata Capital group and another Rs 350 crore from Hero Finance,» Kesoram's whole-time director & CEO P Radhakrishnan told PTI.

Allahabad High Court on Thursday dismissed a petition filed by veteran film actor and former MP Jaya Prada seeking quashing of non-bailable warrant issued against her by a trial court in Rampur for alleged violation of election code of conduct and making inflammatory statements. On Thursday, during a hearing by a single bench of Justice Sanjay Kumar Singh, Jaya Prada's counsel told the court that they wanted to file a new application with some new facts and documents and sought permission from the court to withdraw the petition. The court accepted the request and allowed the petition to be withdrawn.

Bharat Highways InvIT IPO: The initial public offering (IPO) of Bharat Highways InvIT was fully subscribed on the second day of bidding, driven by stable demand from investors. Bharat Highways InvIT IPO hit the Indian primary market and opened for subscription on Wednesday, February 28, and will remain open till Friday, March 1, 2024. Bharat Highways Infrastructure Investment is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India.

BJP on Thursday dubbed the arrest of Shahjahan Sheikh as a «legal protection» given to him and slammed the West Bengal police for not charging him with the crime of sexual assault and land grab levelled against the Trinamool Congress (TMC) strongman by many women in Sandeshkhali. BJP national spokesperson Sudhanshu Trivedi said at a press conference that Sheikh has been arrested in the case involving violent attack on Enforcement Directorate (ED) officials by a mob affiliated to him. He asked as to why the West Bengal police has in such a case not handed over his custody to the central agency. He said the video of Sheikh striding ahead with the cops following him looked more like a case of him being escorted instead of being under arrest.

C3.ai (NYSE:AI) saw its shares surge more than 15% in premarket trading Thursday following the company’s better-than-expected Q3 report and upbeat guidance.

Kotak Mahindra Bank’s senior officials on Thursday said that it aims to grow its gold loan book faster than the industry. Speaking to the media, Manish Kothari, president and head of commercial banking, indicated that there is significant scope for them to expand their gold loan book in India since the market is currently dominated by an unorganised sector, which is charging usurious rates to lower-income groups. Shripad Jadhav, president of retail agriculture and gold loans, said there is a scope for the bank to expand the gold loan book since the Reserve Bank of India's rule does not require banks to assign any capital on these loans. Besides, the maximum permissible loan to value is 75% of the value of the gold, and since the gold prices have risen, the credit cost is negligible.

BSE and NSE. Let us check Exicom Tele-Systems IPO subscription status, GMP and other key details: Exicom Tele-Systems IPO has been subscribed 61.35 times in total so far on Thursday, the third and the last day of the bidding process. The public issue received bids for 111.79 crore equity shares as against 1.82 crore shares on the offer, as per data available on NSE till 2:05 pm.

Also Read: Platinum Industries IPO last bidding day today: Should you subscribe to the issue? Check GMP, subscription status Platinum Industries IPO continued to pick up momentum on the second day of subscription. Platinum Industries IPO subscription status on day 2 was 22.22 times, as per BSE data. Platinum IPO's retail portion was subscribed 25.56 times, the NII portion was booked 42.88 times, and Qualified Institutional Buyers (QIBs) portion was booked 90%.

₹850 from ₹760 earlier, implying an upside of more than 14% from its previous close. Analysts at Kotak Institutional Equities do not see a specific tailwind that can cause a re-rating for SBI shares in the short term. However, they expect SBI to outperform other public sector banks, given the sharp convergence in multiples.

BSE and NSE at around 16 percent premium against the issue price of ₹177 to ₹186 apiece. On BSE, GPT Healthcare share price opened at ₹216.15 per share level and went on touch an intraday high of ₹219.70 apiece. On NSE, GPT Healthcare share price was listed at ₹215 apiece and went on to touch an intraday high of ₹219.90 per share.

Post Office Monthly Income Scheme (POMIS). Under the POMIS, the investor will get interest payments every month. The interest rate for this program is revised by the government every quarter. According to news reports, as of early February, collection from POMIS rose to nearly Rs 20,000 crore against Rs 5,000 crore in FY23. Here is a look at important features of the Post Office Monthly Income Scheme as per the India Post website.

Exicom Tele Systems IPO: The initial public offering (IPO) of Exicom Tele Systems Limited opened on 27th February 2024 and will remain open till 29th February 2024. As per the Exicom Tele Systems IPO subscription status, the public issue has been booked 27.78 times after two days of bidding. Meanwhile, on the last date of bidding, the grey market continues to remain bullish regarding Exicom Tele Systems IPO.

Kaustubh Gupta, Co-Head – Fixed Income, ABSL AMC, says “post Covid, change has become even more pertinent, in the sense that for the first time, the uncertainties on economics, geopolitics, fiscal response and the impact of monetary policy response is paramount and which is why at least as far as the global platform is concerned, we are living in a little bit of uncertain, uncharted territory which opens both opportunities for India and threats for India. On global economy & India’s position in it Kaustubh Gupta: We think that we have this ability to predict the future, but we are living in a bit of an uncertain environment. So, when Dr Krugman and Larry Summers were on opposite sides last year and what actually played out in 2023 was in nobody’s radar. The global economy was expected to slip into recession because of the unprecedented rise in interest rate, but 2023 turned out to be a lot more resilient.

Mrin Agarwal, Founder Director, Finsafe, says “all investors who think that I should do profit booking or who feel that my fund has not done well or who feel that I can exit right now and re-enter, please just remain invested, especially those who have just entered the market a year back. It is just too early for you to exit. And remember, this is how equity markets work. In one year, you will make a great return. Possibly, next year, you may not make a great return and that is why we always say that the average return that you are going to make could be in the range of, let us say, about 10% to 12%. You should remember that this 30-40% is not going to happen year on year. ” It is very important to revamp and reallocate portfolio when you see a disbalance as far as diversification is concerned. A lot of time investors think of exiting a fund or maybe switching a fund. What does it mean to exit a mutual fund and switch a fund? Mrin Agarwal: Exiting a fund means that you are exiting the entire holdings from that particular fund and probably putting it into your bank account.

Now that independent broker-dealers are competing in the red-hot mergers and acquisitions market to buy registered investment advisors and wealth managers, they’re paying millions of dollars for financial advisors’ business, the same non-employee advisors who were already registered with the firms.

Investing.com --  Salesforce on Wednesday delivered upbeat guidance and posted better-than-expected fourth-quarter earnings as a step up in enterprise spending bolstered performance, paving the way for the cloud software maker to roll out its first quarterly dividend and upgrade its stock buyback plan.  

As the wealth industry faces mounting challenges, the pressure to attract and retain top-tier financial professionals is as high as it’s ever been.

U.S. airfares are, on average, 15% lower now than they were a decade ago, and 6% lower than this time last year

Pilots lined up on a runway in Dubai and fired up their seven jet engines with an ear-splitting roar

Bollywood celebrities, like Karan Johar, Konkona Sen Sharma, Salman Khan, Sunny Deol, Kajol, Amol Parashar, Ali Fazal, Radhika Apte, Vidhu Vinod Chopra, and Sayani Gupta among others. Also Read | Jharkhand, Jamtara rail accident LIVE Updates: Train runs over commuters at station, 2 bodies recovered After the premiere, several of the Bollywood celebrities took to social media to express their admiration for Kiran Rao's directorial “Laapataa Ladies".A post shared by Varinder Chawla (@varindertchawla) Sharing a poster of the film on her Instagram stories, Kajol wrote, “Best of luck @raodyness and #aamirkhan on this super cool looking film!"A post shared by Varinder Chawla (@varindertchawla) Yaariyan actor Himansh Kohli took to social media and wrote, “The movie really speaks for itself! From the very first scene, I was totally hooked.