Indus Financial News

Condoleezza Rice has said. There is a need to move away from a “loyalty test every five minutes” about who is meeting with whom, she said at the Indus X (India-United States Defence Acceleration Ecosystem) summit to promote joint defence innovation at Stanford University. Rice acknowledged that there is a historical relationship that India has with Russia when it comes to weapon systems and the Pentagon needs to do more to leverage ties with India.

index India VIX jumped 10% to hit the day's high of 15.57 on Friday as Nifty fell by over 300 points to hit a low of 24,839.40, over US economy data concerns, a key indicator of rate cuts. Investors await US jobs data that could decide the size and speed of coming rate cuts in the world's largest economy. This week, VIX has jumped by 11% after remaining on a declining curve for a month. In the last one month, India VIX has fallen by 25%.

Mint. The talent war is playing out between Indus Law, Cyril Amarchand Mangaldas, JSA Advocates & Solicitors, Khaitan & Co, Trilegal, Shardul Amarchand Mangaldas & Co and even boutique firms built by erstwhile senior partners of these law firms. There are multiple reasons, including the increase in M&As, regulatory filings, expansion of smaller firms that need legal help to set up different businesses, among other things. As a result, senior partners are setting up boutique firms and offering equities to former colleagues to leave the more established practices and join their new ventures.

«So, the cash cow of the company has always been the O2C division, along with gas currently, and they have well supported the retail and telecom to the growth path where we stand today on both the businesses,» says Sushil Choksey, Director, Indus Equity Advisors. How many Reliance AGMs have you tracked so far? Sushil Choksey: I am familiar with the company since listing. But how many AGMs you could have attended, that I do not recall. But initial years when there were physical AGMs, I would have attended most of them.

₹5,000 crore on data centres over the next few years, Vittal said, which is similar to the capex it had outlined in 2021 for three years. Having postponed its call for a ₹15,000-crore rights issue due to strong cash reserves in the business, the Sunil Mittal-promoted carrier will look at paring expensive debt and distributing dividends to shareholders, as a mix to channel the future free cash flows. The telco paid ₹24,250 crore high-cost spectrum dues from the 2012 and 2015 auctions.

At least 11 firms, including Indus Towers Ltd., have or are set to approve share buybacks shortly after the new regime was proposed in the budget on July 23. This is a jump from the average of about four transactions per month in 2023, data from primeinfobase.com show.

Indus Towers announced a share buyback via a tender offer on Tuesday while reporting its quarterly results for the first quarter of FY25. The company plans to repurchase approximately 5.68 crore shares at Rs 465 per share, totaling up to Rs 2,640 crore. The buyback price offers a 4% premium over the stock’s closing price on Tuesday, July 30.

Maruti, M&M, Tata Consumer, Adani Energy, Vedanta will be in focus due to various news developments and first quarter results. Maruti, M&M, Coal India, Adani Power, Tata Steel, Ambuja, BoB

Ola Electric on Monday announced the price band of Rs 72-76 for its upcoming initial public offering (IPO) which will open on August 2 and close on August 6. The IPO comprises a fresh issue of shares worth Rs 5,500 crore and an offer for sale (OFS) of 8,49,41,997 shares, according to the draft prospectus. At the upper price band of Rs 76, the OFS would be worth about Rs 645.56 crore.

mutual funds bought stocks worth Rs 282 billion in the Indian secondary market. Mutual funds always add or exit certain stocks in their portfolio to offer better returns. Here are the large, mid, and smallcap stocks that mutual funds bought and sold in June, according to the Mutual Fund Insights report by Nuvama Alternative & Quantitative Research. The key additions by mutual funds were Indus Tower, HDFC Bank, Mphasis. Meanwhile, the MFs reduced their stake from ICICI Bank, Hindalco, and Bharat Electronics. The new entry in the largecap segment was Hindustan Zinc. Mutual funds made a complete exit from Adani Green. The top additions in the largecap space were HDFC Bank, Infosys, Reliance Industries, ICICI Lombard, and Dr Reddy Laboratories while the top reductions were Hindustan Aeronautics, Bharat Electronics, Tata Motors, State Bank of India, and Sun Pharma Industries.

Bandhan Bank, Chambal Fertilizers & Chemicals, GMR Airports Infrastructure, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), India Energy Exchange (IEX), India Cements, Indus Towers, Piramal Enterprises (PEL) and RBL Bank. The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

Domestic markets gained for the sixth consecutive week, driven by robust earnings from IT companies. The first quarter earnings will be a key focus this week as numerous heavyweights including Infosys, Reliance, Kotak Mahindra Bank will announce their results. Additionally, analysts said pre-budget discussions are expected to contribute to market volatility.

Aditya Birla Fashion & Retail (ABFRL), Balrampur Chini, Bandhan Bank, Chambal Fertilizers & Chemicals, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), India Energy Exchange (IEX), India Cements, Indus Towers and Piramal Enterprises (PEL). While Hindustan Copper has exited the ban, IEX is the latest entrant on the list.

Bandhan Bank, Chambal Fertilizers & Chemicals, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), India Energy Exchange (IEX), India Cements, Indus Towers, Piramal Enterprises (PEL) and RBL Bank. RBL Bank is the latest entrant into the list.

Indus Towers with a target price of Rs 270. The current market price of Indus Towers Ltd. is Rs 398.4. Indus Towers Ltd., incorporated in the year 2006, is a Large Cap company (having a market cap of Rs 108888.93 Crore) operating in Telecommunications sector.

Vodafone Idea (Vi) out of the proceeds of a likely sale of its balance 3.1% holding in Indus Towers, said analysts who added that this may be used to clear a portion of the Indian telco's dues to the tower company. Vi may also make more substantial payments to Indus towards cutting its dues after the telco raises debt of ₹23,000-25,000 crore through term loans as planned, they added. After the recent sale of its 18% stake in Indus, UK's Vodafone holds 3.1% of the tower company and is said to be in talks with Bharti Airtel to sell these shares, people familiar said. Earlier talks between the two parties got stuck over valuation differences but the latest discussions may yield results, said the people cited above.

Aditya Birla Fashion & Retail (ABFRL), Bandhan Bank, Chambal Fertilizers & Chemicals, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), Hindustan Copper, India Cements, Indus Towers, and Piramal Enterprises (PEL). Stocks' Futures & Options contracts enter a ban period when their open interest (OI) reaches 95% of the market-wide position limits (MWPL). The ban is lifted only when the open interest falls below 80% of MWPL.

Vodafone Idea and Reliance Jio bought spectrum worth ₹11,340 crore in the just-concluded spectrum sale, which will be paid to the government in 20 annual instalments. The first instalment is likely to be in the range of ₹500-570 crore for all three carriers combined. The selective and strategic purchases indicate a focus on monetizing existing investments into spectrum before spending on additional capex.

markets continued their upward trajectory as Nifty made new highs for the second consecutive day and gradually inching upwards to 24,000 mark. «Overall optimism surrounding the Union Budget, increasing FII inflows, and robust domestic economic data contributed towards the positive movement in the market. We expect the ongoing uptrend to continue further,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.

F&O ban list todayGNFC, India Cements, Indus Towers, PNB, and SAIL are the five stocks on the NSE's F&O ban list for June 27.The National Stock Exchange (NSE) said the derivative contracts in the mentioned securities have crossed 95% of the market-wide position limit and have been placed in the stock exchange's ban period.“All clients/members shall trade in the derivative contracts of said security only to decrease their positions through offsetting positions. Any increase in open positions shall attract appropriate penal and disciplinary action," the NSE statement said.No new positions are allowed when the stock exchanges place F&O contracts in a particular stock in the F&O ban period.On June 26, stock market benchmark indices Sensex and Nifty rallied for the third straight session and ended at their fresh all-time high levels on Wednesday in tandem with Asian peers and buying in Reliance Industries.The 30-share BSE Sensex climbed 620.73 points or 0.80 per cent to settle at a new closing peak of 78,674.25.