WhatsApp Financial News

Nova Agritech IPO, Epack Durable IPO, Brisk Technovision IPO, and Qualitech Labs IPO are among the initial public offerings that have been deferred by a day.

think tank that functions under the union home ministry has issued an advisory and alert against a variety of scams that take place on popular social media messaging platform WhatsApp leading to cyber crimes and financial frauds. The Bureau of Police Research and Development (BPRD) has identified seven types of such frauds that includes tricking through missed calls, video calls, in the name of job offers and investment plans, impersonation, hijacking and screen share. As part of the 'hijacking' scam, the eight page advisory-cum-alert said, the scammers take unauthorised access to the victim's WhatsApp (WA) account and request money from their contacts.

Bansal Wire Industries has filed a draft red herring prospectus (DRHP) with capital markets regulator Sebi to raise funds through an IPO. The issue is entirely fresh equity of Rs 745 crore with no offer-for-sale component. The public offer is being made through the book-building process, wherein about 50% of the issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors. The company proposes to use the funds from the IPO to repay some of its debt, meet working capital requirements and for other general corporate purposes. Bansal Wire is the largest stainless steel wire manufacturing company and the second largest steel wire manufacturing company by volume in India with a production of 72,176 MTPA and 206,466 MTPA, respectively, in FY23. The company has a diversified portfolio, catering to a wide range of sectors such as automotive, general engineering, infrastructure, hardware, consumer durables, power and transmission, agriculture and auto replacement. It manufactures over 3,000 stock-keeping units — the highest among all steel wire manufacturers in India with sizes ranging from as thin as 0.04 mm to as thick as 15.65 mm. With a well-diversified base of more than 5,000 customers spanning various sectors, Bansal Wires Industries has established a robust network that contributes to its growth. Over the years, the company has adopted a de-risking strategy, under which no single customer accounts for more than 5% of its sales, and no sector or segment constitutes more than 25% of the sales. The total income has increased at a CAGR of 28% from Rs 1,480 crore in FY21 to Rs 2,422 crore in FY23.

Kotak Mahindra Bank on Saturday said that its board has approved the raising of funds worth Rs 10,000 crore via the NCD route. «This is to inform you that the Board of Directors of Kotak Mahindra Bank have, at their meeting held today, inter alia, approved a proposal to enable the Board of Directors of the Bank to raise funds by way of issuance of Unsecured, Redeemable, Non-Convertible Debentures, on a private placement basis, for an amount up to Rs. 10,000 crore,» Kotak said in an exchange filing. The NCDs would be issued in one or more tranches during FY 2024-25, subject to shareholder and other approvals, the bank said after a board meeting. Earlier in the day, the lender announced its December quarter results in which PAT stood at Rs 3,005 crore, up 8% YoY from Rs 2,792 crore in Q3 FY23. Its net interest income or NII rose 16% YoY to Rs 6,554 crore while the net interest margin came in at 5.22%. Provisions and contingencies surged to Rs 579 crore from Rs 149 crore a year ago.

Persistent Systems on Saturday said that its has board approved splitting the value of shares in the ratio of 2 for 1. The existing one equity share having a face value of Rs 10 each, will be split into two equity shares having a face value of Rs 5 each, the company said in an exchange filing. This is the first time the company will be splitting the shares since it got listed.

₹335.54 crore. The company had reported a profit of ₹200.75 crore in the year-ago period.

Budget 2024 on February 1, expected to balance populist measures and fiscal prudence. India must simplify land purchase policies and digitize records to prevent complex acquisition processes from derailing projects, suggested Suren Goyal, partner at RPS Group. Rationalizing taxes, funds access, and compliance rules will also assist developers in mitigating risks from related uncertainties, he added.

Paytm jumped over 3% to the day's high of Rs 798 on the NSE in Saturday's trading session after the company reported a jump in its December quarter revenue while narrowing its losses. With today's gains, the stock has remained unbeaten in three sessions and gained over 8%. The digital payments major narrowed its losses to Rs 220 crore for the quarter ended December 2023, compared to Rs 290 crore in the September quarter and Rs 392 crore in the year-ago quarter. Revenue from operations in the third quarter jumped 38% to Rs 2,850 crore as against Rs 2,062 crore in the corresponding quarter of the previous year. Read more | Paytm Q3 Results: Losses narrow to Rs 220 crore; revenue jumps 38% YoY Reacting to Paytm's quarterly show, analyst Sanjiv Bhasin said that he has been recommending the stock at levels of Rs 600, 620 and the stock has now surpassed Rs 780.

₹186 to ₹192 per equity share. delaPlex IPO will open for subscription on Wednesday, January 24, and close on Monday, January 29.

Hindustan Zinc share price rose by about 1% during the Saturday trading session as analysts reported that the Vedanta Group company's Q3 earnings were in line with street projections. On Friday's session post the Q3 results, Hindustan Zinc shares jumped over 4%.

₹2,492.65 apiece on the BSE. HUL posted a standalone net profit of ₹2,519 crore for the third quarter of FY24, a growth of just 0.55% from ₹2,505 crore in the same quarter of last fiscal year. However, HUL’s Q3 net profit declined 7.28% from ₹2,717 crore on a sequential basis.

On a sequential basis, net profit fell 21%. Net interest income, the difference between interest earned and interest expended, increased 21% year-on-year to Rs 1,546 crore in the third quarter.

Reserve Bank of India has said there will be no trading in government securities, foreign exchange markets, money markets and rupee interest rate derivatives on January 22, as the government of Maharashtra has declared the day as a public holiday. The state government has declared January 22 as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. “Settlement of all outstanding transactions will accordingly get postponed to the next working day i.e., January 23, 2024 (Tuesday),” the RBI said. The 3-day variable rate repo (VRR) auction conducted by the RBI on Friday, which is scheduled to reverse on January 22, will now be reversed on January 23.

₹5,208 crore from ₹5,058 in Q2FY24. The telecom operations of Mukesh Ambani's Reliance Industries' revenue from operations stood at ₹25,368 crore, up 2.5% during the quarter ended December from ₹24,750 crore in Q2FY24.

₹218 to ₹230 per equity share of the face value of ₹10. EPACK Durable IPO raised ₹192.01 crore from anchor investors on Thursday, January 18, by allocating 83.48 lakh equity shares at ₹230.

₹2,515 apiece on BSE. IndiaMART InterMESH stock price touched an intraday high of ₹2706.45 and an intraday low of ₹2,500.05.

₹150 crore of shares in the firm, said company's notice to investors on Financial Express (FE). Volrado Venture Partners Fund-III-Beta received 32,15,434 equity shares valued at ₹100 crore on January 17 at a price of ₹311 per share.

₹140 apiece. Addictive Learning Technology Limited IPO lot size consists of 1,000 shares.

One 97 Communications, the parent company of fintech giant Paytm, is set to announce its earnings for the October-December quarter of FY24 on Friday, January 19. The company’s revenue from operations during Q3FY24 is expected to grow 32% year-on-year (YoY) to ₹2,721 crore, as per brokerages’ estimates.

Hindustan Unilever is set to release its Q3 results on Friday, January 19. The company is likely to report a marginal rise of 2.2% in its net profit for Q3FY24 at ₹2,638 crore as compared to ₹2,581 crore in the corresponding quarter of last fiscal, as per average estimates of 5 brokerage houses. Also Read: Q3 result preview: FMCG sector expected to see mid single-digit volume growth, margin expansion trend to continue HUL’s revenue during the quarter ended December 2023 is estimated to remain flat year-on-year (YoY) at ₹15,400 crore.

Union Budget 2024 is an interim budget because Lok Sabha elections are due early next year. The full budget will be after forming a new government Industry experts believe that implementing artificial intelligence (AI) to simplify tax filing could benefit citizens and government alike. “With advanced natural language processing capabilities, intelligent chatbots could understand complex financial data and automatically populate returns for review.