Indus Financial News

Vodafone Idea and Indus Towers will be in focus on Thursday after Indus Towers announced that it released a 3% pledge of shares by Vodafone Promoters to secure the payment obligation of Vodafone Idea. Earlier, the UK-based telecom operator Vodafone PLC announced to sell its remaining 3% stake in Indus Towers to repay debt in Vodafone Idea (Vi).

Vodafone Idea, Indus Towers, Torrent Pharma, Bharat Forge, Indraprastha Gas among others will be in focus due to various news developments. PG Electroplast PG Electroplast launched a qualified institutional placement to raise up to Rs 1,500 crore. The indicative issue price is at Rs 690-699 per share, according to a CNBC TV18 report.

Vodafone Idea (Vi) has scheduled a board meeting on December 9 to consider upto a Rs 2,000 crore fundraise via issuance of equity shares and or convertible securities on a preferential basis to co-promoter, Vodafone Group Plc. The late night exchange filing came even as UK’s Vodafone announced plans earlier today to invest a portion of its residual 3% Indus Towers stake sale proceeds in Vodafone Idea (Vi) against fresh shares to help its Indian telecom joint venture with the Aditya Birla Group clear a portion of its old dues to Indus. “…a meeting of the Board of Directors of the Company is scheduled on December 9, 2024, inter-alia, to consider a proposal for raising of funds not exceeding Rs 2,000 crore, by way of issuance of equity shares and / or convertible securities on a preferential basis to one or more entities belonging to Vodafone Group,” Vi said in a late evening exchange filing.

Indus Towers through a block deal and fully exiting the Indian tower company, which is now a Bharti Airtel subsidiary. “Vodafone Group Plc announces it has launched a placing of its remaining 79.2 million shares in Indus, and such shares, representing 3% of Indus' outstanding share capital through an accelerated book-build offering,” the British telco said in an official statement Wednesday.

Zomato, Flipkart, Ola, Meesho, Gameskraft, HiLabs, Roombr, Myntra, PhonePe, Quicksell, Indus Insights, Groww, WinZo, Cars24, Battery Smart and NoBroker are among these companies visiting campuses such as the National Institutes of Technology, Birla Institute of Technology & Science Pilani, Indian Institutes of Information Technology (IIITs) and Indian Institutes of Technology. The domains they are recruiting for include software development, data science, product analytics, artificial intelligence and machine learning. Campuses said not only has there been a spurt in the number of such companies visiting — in a few cases, more than double compared with last year — but several of them are also hiring in larger numbers.

Gujarat police on Friday said it was probing whether standard operating procedures were in place in connection with the November 27 trench cave-in near the Indus Valley Civilisation site of Lothal, which resulted in the death of a PhD student of Indian Institute of Technology Delhi. Deceased Surbhi Verma (23) and three other researchers were at the ancient Indus Valley Civilisation site, some 80 kilometres from Ahmedabad, for research work and collection of samples when a 10-foot deep trench caved in. «The joint team of IIT Delhi and IIT Gandhinagar had reached the spot to collect soil samples for paleoclimatic study. Surabhi, who was deep inside the pit, died instantly in the cave-in. A woman professor from IIT Delhi was rescued and two researchers from IIT Gandhinagar were unhurt,» said Ahmedabad District Superintendent of Police Om Prakash Jat. Koth police registered an accidental death case and began a probe, he added.

The awards were hosted by presenter Declan Curry and brought together key players from across the investment company sector.  Our charity for the evening was RedSTART, which works to provide financial education to transform the life chances of young people across the country. During the awards ceremony, we presented our Rising Star of the Year Award, which this year went to Dominic Woodcock from St James's Place. Meanwhile, this year's Group of the Year Award was presented to J.P. Morgan Asset Management.  Finally, the Jackie Beard Award for Outstanding Contribution to the Indus...

Supreme Court today ruled in favor of telecom companies, affirming their entitlement to claim credit for duties paid on parts such as tower components and green shelters. This decision overturns a previous judgment by the Bombay High Court, which had classified these items as non-capital goods, thereby denying the companies cenvat credit for the duties paid. The ruling is expected to significantly benefit key players in the sector, including Bharti Airtel, Vodafone, Tata Teleservices, Reliance Communications, and Indus Towers, by allowing them to claim tax credits previously considered ineligible.

Waaree Energies, Ashoka Buildcon, Shilpa Medicare, Tilaknagar Industries among others will be in focus due to various news developments. Waaree Energies Waaree Energies, which recently made a stellar debut at the bourses, reported its first earnings post listing, where the solar PV maker clocked 15% growth in its second quarter net profit at Rs 362 crore.

In this guide, we explore the best idli makers available, covering their features, ease of use, and suitability for different household needs, so you can enjoy delicious, homemade idlis with minimal effort every time.

Non-resident Indians (NRIs) now have a faster, more convenient option than traditional wire transfers to send money to family or make payments in India. The National Payments Corp. of India (NPCI) has extended UPI access to NRIs who hold non-resident external (NRE) or non-resident ordinary (NRO) accounts. This expansion allows NRIs to conduct instant transactions from their smartphones using UPI linked to their international mobile numbers, simplifying financial connections with India.

BSE 500 index has gained 34.5% during this period, partly riding on the continued strength exhibited by the domestic economy and a healthy earnings footprint of India Inc. The market has powered on amid intermittent hiccups, including rising geopolitical tensions, concerns over global recession and a slowdown in China. Mid and small caps, as well as PSU stocks, have put on a show, as Indian stocks have continued to outperform global peers. Stocks fund managers are betting on Domestic equity fund managers, leaning on wisdom gained from previous market cycles, have tempered their excitement. These market mavens have raised vigilance, pulling various risk levers to build portfolios capable of showing better resilience in preparation for tougher roads lying ahead. In this eleventh edition of Most Wanted Stocks, we have zeroed in on a basket of stocks that have been consistently favoured by mutual fund managers. These six stocks have seen a gradual rise in mutual fund holding for four consecutive quarters since September 2023.

Subscribe to enjoy similar stories. As a young girl, Ahtushi Deshpande could often be found by her father’s side in his makeshift darkroom at their Delhi home. She watched him intently as the hobby photographer developed his precious negatives.

Indus Towers are likely to be in focus on Wednesday after the Competition Commission of India (CCI) approved Bharti Airtel's plan to increase its stake in Indus Towers, following the telecom infrastructure company's share buyback. «The Commission approves an increase in the percentage shareholding of Bharti Airtel Ltd (Bharti Airtel) in Indus Towers Ltd (Indus Towers) to 50.005% pursuant to buyback of shares by Indus Towers,» CCI said in a release.

Bajaj Finance, SBI Life, HUL, Adani Energy, Fedbank Financial among others will be in focus due to various news developments and second quarter results. SBI Life, HUL, Bajaj Finserv Shares of SBI Life, HUL and Bajaj Finserv will be in focus as the companies will announce their quarterly results for the July-September 2024 period.

Indus Towers reported a 71.7% on-year jump in net profit to Rs 2,224 crore for its fiscal second quarter, on the back of strong tower additions and steady collection of past overdues from Vodafone Idea (Vi). Quarterly revenue grew 4.7% on year to Rs 7,465 crore in the July-September quarter.

Subscribe to enjoy similar stories. Investment funds KKR & Co., Stonepeak Partners and Macquarie Capital have sounded out merchant bankers to acquire a potential stake in India's No.3 telecom tower firm Ascend Telecom Infrastructure Pvt. Ltd, two people aware of the development said, after losing the race for American Tower Corp.'s India assets to Canada’s Brookfield.

According to flash estimates from the European Union's statistics office Eurostat today (1 October), inflation in the euro area fell to 1.8% in September, down from 2.2% in August, matching forecasts by a Reuters poll of economists. Core inflation, which strips out energy, food, and tobacco, eased slightly from 2.8% in August to 2.7% in September. ECB cuts interest rates to 3.5% amid softer inflation figures and faltering growth Services inflation fell to 4% last month from 4.1% in August, while food, alcohol and tobacco prices ticked up slightly to 2.4% from 2.3%. Non-energy indus...

Indian market reacted strongly to the US Federal decision to reduce the interest rate to 50 bps on Thursday, as Sensex and Nifty soared to record highs. Stocks that were in focus include names like Indus Towers, which fell 8.3%, Vodafone Idea, which declined 19%, and HCL Tech, whose shares dropped 0.8% on Thursday.

«So, in terms of percentage, the support is closer for Indus Tower and the stock may see some bit of cooling off, consolidation happen around the 360 mark. But speaking of Vodafone Idea, clearly below the 12 level, we expect more weakness to continue in the same,» says Rahul Sharma, JM Financial Services. What is your take coming in on both of these counters, Vodafone Idea and Indus Towers? While when you talk about the news flow, you thought things were getting better for Vodafone Idea. There was some scope of revival but that is definitely not how it is playing right now given the fact the Supreme Court order is negative and will have a negative impact. Rahul Sharma: Yes, so speaking technically the stock has broken its crucial support area of 12.5, 12 and it has been like a nosedive for the stock of sorts in today's session. Now what that opens up is a room for more downside and the next psychological level that we can see is at around 10. But technically speaking the crucial support is coming in around Rs 9, so that is another 20% down move that can happen especially the way the sell-off has been there today. Now speaking of Indus Tower which has been relatively doing well, this has also sort of broken down from its short-term moving averages and the meaningful support for this one is placed around the 355-360 mark.

Indus Water Treaty (IWT) with Pakistan, citing «fundamental and unforeseen» changes in circumstances. The notice was issued to Pakistan on August 30 under Article XII(3) of the treaty, according to government sources. The IWT, signed in 1960, governs the water-sharing mechanism between the two countries for cross-border rivers.