Experts Financial News

NaBFID) plans to raise 530 billion rupees ($6.31 billion) from the debt market this fiscal year, its top executive told Reuters on Thursday. The bank has already raised 90 billion rupees and the rest will be raised depending on the infrastructure lender's disbursement pattern, said Rajkiran Rai, NaBFID's managing director. NaBFID has already sanctioned 200 billion rupees of its target of 1 trillion rupees for the 12 months through March 2025, Rai said.

Trevoc group is expecting Rs 1,000 crore revenue from a luxury residential project on Gurgaon’s Golf Course road. ASK Property Fund, the real estate private equity arm of Blackstone backed ASK Asset & Wealth Management Group, will invest Rs 120 crore in the project while Trevoc is investing Rs 80 crore. In October last year, through an auction held by the Haryana Shahari Vikas Pradhikaran (HSVP), the state urban development authority, a two-acre plot in Sector 56 was auctioned for Rs 120 crore to Trevoc.

On the BSE, Granules India(down 16.67 per cent), Ganon Products(down 9.96 per cent), Dhunseri Invst(down 9.77 per cent), Konndor Industries(down 9.48 per cent) and Ceeta Ind(down 8.78 per cent) stood among the top losers in today's trade.

Union Bank of India has launched a special fixed deposit termed Union Sumvridhi 333, offering higher interest rates.

SBI Balanced Advantage Fund has achieved a milestone of completing three years. It is an open-ended dynamic asset allocation fund. The scheme is benchmarked against NIFTY 50 Hybrid Composite Debt 50:50 Index. The fund is managed by Dinesh Balachandran, Rajeev Radhakrishnan, Mansi Sajeja, and Pradeep Kesavan. Also Read | This defence mutual fund yielded 85% return since inception. Time to make allocation in this sector?

Minda Corporation's board of directors has approved a Rs 1,000 crore fundraising plan via preferential issue of shares or qualified institutional placement (QIP) mode. The decision was taken during a meeting held today and the company was informed about the development during market hours.

IPO) of Western Carriers will open for public subscription on Friday. Ahead of the debut, the company's shares have no GMP in the unlisted market. The IPO, which is priced in the range of Rs 163-172 apiece, will close on September 18 and the bidding for anchor investors will be done later today.

cryptocurrency market experienced a notable surge on Thursday, buoyed by U.S. core inflation data that slightly exceeded expectations, diminishing hopes for a significant rate cut by the Federal Reserve next week. U.S. consumer prices edged up in August, with core inflation remaining somewhat persistent. The core Consumer Price Index (CPI) increased by 0.28% for the month, surpassing the anticipated 0.2% rise.

The scheme is benchmarked against BSE 250 Large Midcap TRI and is managed by Sanjay Chawla and Miten Vora. This fund has offered 49.78% returns in the last one year and 22.04% in the last three years. Launched in September 2020, the scheme has offered 29.84% returns since inception.

palm oil imports in August fell more than a quarter from a month ago, primarily driven by sufficient domestic stocks and negative margins that discouraged refiners from purchasing more of the tropical oil, a leading trade body said on Thursday. Lower purchases by the world's biggest importer of vegetable oils could lead to higher stocks of palm oil in key producers Indonesia and Malaysia, weighing on benchmark futures. India's palm oil imports fell 26% in August from July to 797,482 metric tons, the Solvent Extractors' Association of India (SEA) said in a statement.

“We wish to inform you that M/s. Krishna Institute of Medical Sciences Limited (‘the Company’) has fixed Friday, September 13, 2024, as ‘Record Date’ to determine the eligibility of shareholders of the Company for Subdivision/split of 1 (One) equity share having face value of Rs.10/- (Rupees Ten Only) each, full paid-up, be subdivided into 5 (Five) equity shares having face value of Rs.2/- (Rupees Two only) each,” said the company in its filing to the exchanges.

Hemang Jani, Independent Market Expert, says in India, it will be better to play the EV theme through some of the incumbent players. In two-wheelers, companies like Bajaj, Hero, TVS, and in four-wheelers, Maruti. It has been indicated that a large part of Maruti’s growth will come through hybrids or EVs. It makes more sense to go with those established players rather than trying to find newer emerging stories with very high valuations. Jani would also stay away from OMCs because state elections are coming and just to get some more positive sentiment, the government may roll out some kind of a price cut and that may not be that positive for the oil marketing companies. What is the outlook when it comes to the EV push, given that we are talking about this scheme? The Atul Auto management is saying it is going to benefit the entire EV value chain. Your take? Hemang Jani: The fact that there is going to be a certain amount of incentivisation by the government is pretty much known and the actual rollout is not that good compared to what the market was expecting. Also, for EV as a theme, there is too much hype and many IPOs. Even some of the existing players who have that offering are commanding much higher valuations whereas the actual growth at the ground level may not be that good.

Indian rupee witnessed range-bound trade in the morning session on Thursday and appreciated by 2 paise to 83.97 against the US dollar, amid a positive trend in domestic equities and foreign fund inflows. Forex traders said the rupee continues to hold steady within a well-defined range on active intervention by the Reserve Bank of India (RBI). At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.97 against the American currency, registering a rise of 2 paise over its previous close.

Varun Beverages surged 6% to an intra-day high of Rs 665.65 on BSE as the stock has started trading on an ex-split basis from today (Thursday), which was the record date fixed for the purpose of its 2:5 stock split. The shareholders whose names appear in the company's database on the record date, ie, September 12, are eligible for the said stock split.

Cholamandalam Investment & Finance Company Ltd. gained 2.33 per cent to Rs 1556.55 in Thursday's trade as of 10:15AM (IST). The stock hit a high price of Rs 1563.5 and low of Rs 1545.1 during the session. The return on equity (ROE) for the stock stood at 17.45 per cent. Traded volume on the counter stood at 10:15AM shares and turnover at Rs 2.47 crore around that time. The stock of Cholamandalam Investment & Finance Company Ltd. quoted a 52-week high price of Rs 1563.5 and 52-week low prices of Rs 1011.5, respectively.

Aarti Industries, Aditya Birla Fashion and Retail (ABFRL), Balrampur Chini, Bandhan Bank, Chambal Fertilizers & Chemicals, Hindustan Copper and RBL Bank. Meanwhile, Biocon has moved out of the ban.

Call writing is observed at 25,000 and 25,100 strikes, whereas Put writing is seen at 24,500 and 24,700 strikes.

share allotment of Tolin Tyres IPO is likely to be finalised today. Investors will get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE or even on the registrar's website.

Kross IPO is likely to be finalised today. Investors will get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE or even on the registrar's website.

GRSE) and 74 other companies are likely to remain in focus today as they have set September 13 as the record date to determine shareholders eligible for dividend payments. This means today is the last day to buy shares of these companies to qualify for the announced dividends.

Breakout stocks to buy or sell: After a subdued start, the Indian stock market registered a strong recovery on Wednesday. However, the frontline indices failed to recover the losses and ended lower. The Nifty 50 index finished 122 points lower at the 24,918 mark, the BSE Sensex corrected 398 points and closed at 81,523, whereas the Bank Nifty index ended 262 points lower at 51,010.