Experts Financial News

Private equity major KKR has acquired a stake in Mumbai-based Rebel Foods, the parent company of Faasos, Behrouz Biryani, and other cloud kitchen brands, according to a company statement. The investment was made through a secondary share purchase transaction and follows Singapore’s sovereign fund Temasek-led $210 million (approximately Rs 1,782 crore) funding round announced on December 12. KKR has not disclosed the size of its investment. A significant portion of the latest financing round comprises secondary share sales, conducted at a lower valuation of around $750-800 million. In contrast, the primary funding infusion was executed at a flat valuation of $1.4 billion. While secondaries are typically done at a discount to the last primary valuation, this transaction reflects a steep discount of approximately 50%.

Godrej Consumer Products Ltd. 1.11 per cent to Rs 1079.40 in Thursday's trade as of 11:55AM (IST). The stock hit a high price of Rs 1087.75 and low of Rs 1076.00 during the session. The return on equity (ROE) for the stock stood at -4.44 per cent. Traded volume on the counter stood at 11:55AM shares and turnover at Rs 9.49 crore around that time. The stock of Godrej Consumer Products Ltd. quoted a 52-week high price of Rs 1541.30 and 52-week low prices of Rs 1026.95, respectively.

Hemang Jani, Independent Market Expert, says Zomato is now part of the Nifty and typically, when you see some flows either ETF related or otherwise in one of the global indices, that creates its own impact on the stock. So, definitely from a fundamental standpoint, given the 30-35% discount at which Swiggy is trading at, that would be a preferred bet. Jani says as a short-term tactical play, he likes Zomato, Swiggy, and some of the other platform companies. Yesterday when the markets were closing, we did not anticipate this bolt out of the blue coming in from the Federal Reserve, the fact that the dot plot is indicating only two rate cuts next year. Hemang Jani: After going through weakness in the last two days, this was clearly not expected. And the way the entire event panned out wherein the rate cut guidance has been only muted and only two rate cuts is what the Fed is looking at and maybe probably because of the way the US markets also had gone up in the last, let us say, about six months or so, so typically, the market tends to create a hype around certain events. When you do not see something coming out as per expectation, there is a huge swing in volatility and which is what we are seeing over there. From our perspective, maybe you could see a bit of a negative start. But our market is actually segregated into two halves.

Varun Beverages Ltd. 0.1 per cent to Rs 632.30 in Thursday's session as of 12:00PM (IST) even as the equity benchmark Sensex traded 907.61 points at 79274.59. Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 682.84 and a 52-week low of Rs 454.60 on NSE. Around 40020 shares changed hands on the counter till 12:00PM (IST).

PI Industries Ltd. 0.71 per cent to Rs 3859.05 in Thursday's trade as of 12:07PM (IST). The stock hit a high price of Rs 3873.10 and low of Rs 3825.00 during the session.

Tata Power Company Ltd. 0.33 per cent to Rs 413.65 in Thursday's session as of 12:12PM (IST) even as the equity benchmark Sensex traded 828.08 points at 79354.12. Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 494.85 and a 52-week low of Rs 312.60 on NSE. Around 375488 shares changed hands on the counter till 12:12PM (IST).

Nomura India Investment Fund Mother Fund has picked up a stake in the recently listed Vishal Mega Mart through a bulk deal on Wednesday, buying a stake worth Rs 324.96 crore. Nomura purchased 3 crore shares of the company on the NSE at a price of Rs 108.32 apiece, according to data available on the exchange website.

Fed Chair Jerome Powell has left little chance for a Santa rally in global equity markets. While the Dow Jones recorded its worst day in over four months, the Sensex fell more than 1,100 points, nearing the 79,000 mark. The market had already priced in the impact of a 25 basis point rate cut but was left concerned after the dot plot was revised significantly higher, with only two cuts now forecast for 2025, half of what was expected in September. According to the current projections, 2026 is also likely to see just two cuts, down from four previously.

Genesis and have resolved a $16 million dispute. Under the settlement, SpiceJet will pay Genesis $6 million and Genesis will acquire $4 million in SpiceJet equity at a price of Rs 100 per share. The agreement will result in a significant saving for the airline as it navigates a path toward long-term growth.

Marico Ltd. rose 0.52 per cent to Rs 638.25 in Thursday's trade. It hit an intraday high of Rs 640.00 and low of Rs 629.90, respectively, during the day. The stock quoted a 52-week high price of Rs 719.80 and low of Rs 486.75.

Jaiprakash Power Ventures Ltd.(up 5.78%), NLC India Ltd.(up 2.68%), RattanIndia Power Ltd.(up 2.46%), CESC Ltd.(up 1.43%), Indowind Energy Ltd.(up 0.91%), Karma Energy Ltd.(up 0.36%), Gujarat Industries Power Company Ltd.(up 0.15%), GE Power India Ltd.(up 0.08%) and GE Vernova T&D India Ltd.(up 0.05%) were among the top gainers.

The hip-hop mogul is currently detained at Metropolitan Detention Center in Brooklyn which is often described as 'hell on earth'. According to reports, Combs altered appearance during a court appearance on Wednesday for a pretrial hearing left attendees stunned. The once-glamorous hip-hop icon said to look visibly thinner, with dramatically grayer hair, prompting speculation that months behind bars have taken their toll.

Mutual funds were busy launching new fund offerings or NFOs in 2024. Fund houses launched a record number of 205 mutual fund schemes in the said period. This includes active and passive, open- and close-ended mutual funds in both equity and debt segments. The number does not include the schemes launched in December. (Source: AMFI) Around 205 mutual fund NFOs were floated in the market in 2024 which together collected Rs 1.04 lakh crore. Around 198 open-ended funds collected Rs 1.03 lakh crore whereas seven fixed term plans which are close-ended funds collected Rs 954 crore in the said period. Also Read | Year-ender 2024: Top 10 equity mutual funds of the year. Do you have any?

One MobiKwik Systems skyrocketed 14% in early trading today to a high of Rs 605 on the BSE, having surged 37% in two days after posting strong listing gains on Wednesday. Meanwhile, from its upper price band of Rs 279, the stock has already posted returns of 117%. The shares of MobiKwik debuted on the exchanges with a premium of 58.5% on Wednesday.

«For instance, if he starts cutting taxes, we may well find ourselves in a situation where the bond market falls and we could end up with the bond vigilantes having a go at bond markets,» says Richard Harris, Port Shelter Investment. I wanted to begin by discussing the implications the hawkish stance will have on the emerging markets because dollar has strengthen now to 108 levels. There is again a flow expectation which is expected to reverse back into treasury or US equities at the most. What do you make of the implications on the other asset classes at this point of time? Richard Harris: Well, at the moment the dollar is on a tear and that is going to affect other asset classes. Traditionally emerging markets are expected to do worse with a stronger dollar and that is mainly for monetary systems because of course if they are exporting to the US, it should actually make things better. But the prevailing narrative is that a stronger dollar is less likely to be positive for emerging markets and at the moment with the way that we have seen the Fed going in the last few hours, it is likely that interest rates are going to stay higher than people think and the dollar will stay higher than people think.

Wednesday night was the coldest of the season so far in the city, and the night temperature was 4 degrees below the normal for this part of the season. They said the intense cold conditions led to the freezing of the fringes of several water bodies, including the famous Dal Lake here, while water supply lines in many areas of the city here and elsewhere in the valley were also frozen due to the biting cold.

Ashwin, who retired from international cricket on Wednesday, said he will try and play cricket for as long as he can. The statement came while he was interacting with the media upon returning to Chennai on Thursday. The off-spinner was picked up by Chennai Super Kings for Rs 9.75 crore in the IPL 2025 mega auction. He also captains Dindigul Dragons in the Tamil Nadu Premier League and won the title this year. «I am going to play for CSK and don't be surprised if I try and aspire to play for as long as I can. I don't think Ashwin the cricketer is done, I think Ashwin the Indian cricketer has probably called it time. That's it,» said the Indian great.

Bandhan Bank Ltd. traded 0.15 per cent at Rs 163.75 at 10:37AM (IST) on Thursday, even as BSE benchmark Sensex 861.27 points to 79320.93. The stock had closed at Rs 164.00 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 263.15 and Rs 160.30, respectively.

Australia will try to rein in a spike in international student arrivals by imposing different speeds of visa processing, in the latest effort by the center-left government to cut migration numbers ahead of an expected tight election. Education Minister Jason Clare on Thursday announced the new ministerial direction, which he said would prioritize the processing of visa applications for those universities and colleges “that are operating sustainably.” Under the changes, there will be two categories of visa processing: high priority and standard. Education providers will receive quick approvals up until they hit 80% of their international student allotment, which was previously flagged under legislation to cap arrivals. After that, visas will be processed at a slower pace.

₹410-432 per share. This IPO, which will close on December 23, generated ₹245.97 crore through its anchor book on December 18.A number of prominent institutional investors, including Winro Commercial, ICICI Prudential Mutual Fund, Tata Mutual Fund, LIC Mutual Fund, Bandhan Mutual Fund, SBI General Insurance, ITI Mutual Fund, Nuvama, Taurus Flexi Cap Fund, Citrus Global Arbitrage Fund, and BNP Paribas Financial Markets, made investments in the company through the anchor book.The company's planned IPO includes a new share issuance totaling ₹400 crore along with a sale of 1.01 crore equity shares by its promoter, Ajanma Holdings Private Ltd. Currently, Ajanma Holdings possesses an 83.22 percent stake in the Mumbai-based firm.

Bank of Baroda (BoB) shares will remain in focus on Thursday after the lender’s board approved raising Rs 10,000 crore through long-term bonds to finance infrastructure and affordable housing projects. «Board of directors of Bank of Baroda at its meeting held today i.e 18.12.2024 interalia considered & approved raising of long-term bonds for the financing of infrastructure and affordable housing aggregating to total size up to Rs 10,000 crore in single or multiple tranches during FY 2024-25 and beyond if found feasible,» Bank of Baroda said in an exchange filing.