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Byju’s is considering opening up participation to its $200-million rights issue for opposing investors such as Peak XV Partners, Chan-Zuckerberg Initiative, Prosus and General Atlantic, in an effort to call for peace amid a heated battle with its notable stakeholders.
U.S. President Joe Biden said Arab countries including Saudi Arabia were prepared to “fully recognize Israel” in a future deal as he and his Democratic predecessors Bill Clinton and Barack Obama pushed back on critics of his Middle East policies at a campaign event Thursday.
India's political landscape is defined and redefined by the choices made by its voters. The 2024 general elections will see over 18 million first-time voters exercise their choice on who they believe is best suited to enable their aspirations and the nation’s future. First-time voters from every decade were asked who they would vote for in 2024. Every second voter — polled across the universe of first-time voters from 1950s to the 2020s — indicate a preference for the BJP.
Indian Prime Minister Narendra Modi and Microsoft founder Bill Gates discussed the role of AI in enhancing digital infrastructure in India. Gates highlighted AI's potential to improve India's digital work, while Modi emphasised the country's efforts to democratise technology. They addressed challenges and the Indian PM suggested watermarking AI-generated content to prevent misinformation.
In 2020, Paresh Chandra Deka found himself entangled in a puzzling case of subscriber identity module swapping scam and a banking fraud. Deka’s SIM card was registered in the name of his daughter Tulika. But during Oct. 2- 4, 2020, things went haywire when Tulika's SIM card suddenly stopped working. Tulika, worried about what was going on, quickly reported the issue to the telecom service provider, Bharti Airtel Ltd., on Oct. 4 to sort it out.
If you picked the right mid-, small-cap stocks during financial year 2024, your portfolio will likely be grinning from ear to ear. During the mentioned period, i.e. from April 2023 to March 2024, the small-cap and mid-cap indices outperformed the Indian benchmarks, Nifty and Sensex.
India can achieve a growth rate of 10% in the next decade and become the second-largest economy by 2032 and the largest by 2050, given the energies and transformation driving the nation to overcome its challenges, said RBI Deputy Governor Michael Debabrata Patra.
Kutch Copper, a subsidiary of Adani Enterprises Ltd., commissioned the first unit of its greenfield copper refinery project at Mundra on Thursday by dispatching the maiden batch of cathodes to customers. "This marks the Adani Portfolio's debut in the metal industry. The successful progress of the greenfield unit showcases the Adani Group's ability to plan and execute largescale projects," according to a press release.
Enforcement Directorate is expected to produce Arvind Kejriwal in Rouse Avenue Court on Thursday at 12:30 p.m., according to inputs from officials. The investigation agency is looking to extend the Delhi chief minister's custody, which is ending today.
SRM Contractors Ltd.'s initial public offering entered its third and final day on Thursday. The public offer was fully subscribed hours after it opened for subscription on Tuesday. The IPO has been subscribed 17.42 times on the second day on Wednesday. The company launched its IPO to raise up to Rs 130.2 crore. It comprises entirely a fresh issue of up to 62 lakh equity shares with a price band of Rs 200 to Rs 210 per share.
Shares of Chalet Hotels Ltd. rose to a record high on the last trading session of the current financial year on Thursday as it opened its qualified institutional placement to raise funds. The company intends to raise up to Rs 2,000 crore through the QIP which opened Thursday, at a floor price of Rs 780.76 per share. The company is offering the QIP at 5% discount, according to an exchange filing.
Easing current account deficit and rising foreign exchange reserves reinforce India's improving external position. The current account balance is likely to clock a marginal surplus in the ongoing quarter, with a deficit of sub-1% for the full year. India's current account balance recorded a deficit of $10.5 billion (1.2% of GDP) in Q3 FY24, lower than $11.4 billion (1.3% of GDP) in Q2 FY24, according to data published by the RBI on Tuesday.
We attended the analyst meet of VIP industries Ltd. wherein management unveiled plans on product innovation (new launches were on display; premiumisation, leadership and supply chain management.On fruition, the revival strategy is likely to result in market share gains while Ebitda margin is likely to improve to 15% from H2 FY25E once warehousing, freight and accelerated spends on e-com stabilize.
Bharat Heavy Electricals Ltd.'s stock continued to gain for the sixth session on Thursday after the company received a Rs 4,000-crore order from Adani Power Ltd. The order involves setting up the 2x800 MW Raigarh Phase-II Thermal Power Plant at Raigarh, Chhattisgarh, according to an exchange filing.
Larsen & Toubro Ltd.'s wholly owned subsidiary, L&T GeoStructure, won multiple orders in the range of Rs 1,000–2,500 crore. L&T GeoStructure secured an order from the Paradip Port Authority to build a south breakwater extension, groynes and breakwater toe protection wall at Paradip Port, the parent company said in an exchange filing.
The energy sector has been on the upward trend for the last few months, with the Nifty Energy rising as much as 15.6% this year, Kenneth Andrade, chief investment officer of Old Bridge Mutual Fund. On his choices in the energy sector, Andrade said the contractors, capital goods companies and obviously, the commodities. And commodities is my favourite. On commodities, he isn't just bullish on companies for fuel inputs but also on everything that goes into building the capex for the energy sector.
we see an upward momentum in investments. We are initiating coverage on Siemens, ABB India Ltd. and Cummins India Ltd. as they have the widest range of products and solutions to cater to the swelling industrial demand and setsbase to explore various industrial segments.
We have adjusted our estimates primarily for the India businesses, resulting in a consolidated earnings per share change of 0.4% for FY24-FY26E, with an estimated compound annual growth rate of 12.4% over the same period. Consequently, our SoTP-based target price has been revised upwards to Rs 1,075. However, given the stock's sharp runup over the last three months, we are downgrading our recommendation to 'Accumulate' from 'Buy'.
Shares of most financial services companies rose on Thursday and led the rally in the benchmarks after the Reserve Bank of India modified its alternative-investment-fund regulations for lenders. The RBI's circular clarifies that lenders only need to provide for the extent of investment in the AIF, which is further invested in the debtor company, and not the entire investment.
Within the consumer discretionary and retail sector, the jewellery segment, represented by companies like Kalyan Jewellers India Ltd., remains resilient amid consumption slowdowns, according to Citi Research. Targeting mid-to-high-income and affluent consumers, jewellery companies have experienced minimal impact. Recent demand trends, if maintained, can lead to increased market share and higher revenue growth for these companies, it said.
Shares of GOCL Corp. jumped over 19% as it signed a memorandum of understanding with Squarespace Builders Pvt. to monetise land in Hyderabad. The monetisation of 264.5 acres in Kukatpally will happen in a period over 18 months in tranches. The total consideration for the entire land is likely to be Rs 3,402 crore, according to an exchange filing.