Capital restructuring norms for CPSEs updated to add value
India's finance ministry has revised guidelines for capital restructuring by central public sector enterprises (CPSEs), aiming to enhance their value creation and shareholder returns. Key changes include a revised minimum annual dividend requirement and increased flexibility for Share buybacks, bonus Share issuance, and Share splits. Key Points
Economic Times'Kannadigas are not begging': Nirmala Sitharaman vs Siddaramaiah tussle over state Share escalates
Taking to social media platform X, the CM said: "One expects the country’s Finance Minister to speak the truth. Unfortunately, she has been consistently denying the written word". Key Points
Business TodayAnalysts cautious on NLC OFS over rich valuations
On the first day of the offer for sale (OFS) on Thursday, the non-retail investor category was subscribed 2.92 times. The government is selling as much as 97 million shares (including the green shoe option) in the OFS and has set the floor price at ₹212 a share. The stock fell 3.3% to ₹219.10 on Thursday. Key Points
Economic TimesLIC ownership in India Inc falls to all-time low. Profit-booking at peak suspected
LIC's Share by value in NSE-listed companies listed dropped to 3.64% as on December 31, 2023, from 3.73% as on September 30, 2023, but in value terms, the holding rose 11% to Rs 13 lakh crore, according to data from PRIME Database. In value terms, the PSU's biggest bets are RIL, ITC, TCS, HDFC Bank, Infosys, L&T, SBI, ICICI Bank, IDBI Bank, and HUL. Key Points
Economic TimesYuzvendra Chahal shares pics with ‘long-lost brother’ Orhan 'Orry' Awatramani
Yuzvendra Chahal took to Instagram to Share two pictures with Orhan 'Orry' Awatramani. The post has prompted people to Share varied reactions. | Trending Key Points
Hindustan Times
Bajaj Auto board approves Rs 4000-crore Share buyback at Rs 10,000 each
The two-wheeler major will repurchase up to 40,00,000 shares for a price not exceeding Rs 10,000 a share, the company said in an exchange filing. Dalal Street is set to rejoice this news, as the buyback price is at a whopping 43% premium to the current market price. Key Points
Economic TimesPiyush Goyal asks auto industry to raise Share of vehicles exports to 50% from 14% now
Commerce and industry minister Piyush Goyal has urged the automobile industry to increase its export Share to 50% of all passenger vehicles produced in India by 2030. The move is based on the country's labor arbitrage and skilled manpower pool. The Bharat Mobility Global Expo 2024, India's first global mobility expo, will feature over 600 exhibitors from over 50 countries, showcasing cutting-edge technologies and breakthroughs in mobility. Key Points
Economic TimesET Analysis: IndiGo unlikely to gain Share as rivals' business plans take off
Historical data show that an airline gains market Share or improves margins amid weak competition. This was true for InterGlobe as well. Apart from expanded market share, its operating margin before depreciation and amortisation (Ebitda margin) improved to 31.2% in the June 2023 quarter from 20.9% in the March 2023 quarter despite buoyant crude oil prices at the time. Factors such as fund crunch, delays in delivery of planes and relatively weak balance sheets of rivals contributed to InterGlobe's performance. Key Points
Economic TimesLIC stock rallied 10% last week, analysts raises target price; Do you own?
The dramatic increase in the Share price of LIC was seen after a long time, experiencing a robust intraday surge of 9.7% on November 24. Key Points
mintPrivate insurers gain market Share in H1
Meanwhile, private insurers grew the combined market Share to 53.58% up from 50.81%, with a growth rate of 21.13%. Key Points
Economic Times
ASK Automotive makes modest debut on Dalal Street at 8% premium to IPO price
The debut of ASK Automotive on the NSE saw its Share price listed at Rs 303.30 per share, marking a 7.55 per cent increase over the issue price of Rs 282. Key Points
India TodayRetail holding in NSE companies at record high
India Business News: The Share of retail investors in companies listed on the NSE rose to an all-time high of 7.6% during the quarter ended September from 7.5% a quarter a Key Points
Times Of IndiaAd slots during India’s games surged by 142% compared to other matches in the fourth week of Cricket World Cup: Report
F&B ads reduced from 34.35% to 32.81%, while Online app & web services dropped to 13.04% in week 4, per mFilterIt. The highest increase was seen in Personal Care and Hygiene category, with a 19.20% share Key Points
Business TodayRecord number of ITRs filed till October 31, 11.7% higher than last year
Record number of ITRs over 7.85 crore filed till October 31, 11.7% higher than last year Key Points
mintAmetek raises profit outlook, buys Paragon Medical in $1.9 bln deal
Ametek (AME.N), which makes electronic instruments, raised its full-year forecast on Tuesday and announced its fifth and sixth acquisitions for 2023 as it expands into different markets and drives earnings growth. Key Points
Reuters
IndiGo widens lead on international routes
Between April and June, IndiGo, the largest domestic airline, has achieved a 17.2% market share, among both Indian and foreign airlines operating on international routes, up significantly from 9.6% in the June quarter of 2019. Key Points
mintBSE Share buyback price raised to ₹1,080 per Share from ₹816; record date fixed on September 14
BSE Share buyback updates: BSE board fixed the record date for the proposed Share buyback at September 14, 2023. As per the revised buyback offer, BSE will now be buying back 34.70 lakh equity shares, representing 2.56% stake of the company. Key Points
mintCNN-News18 claims number one rank in English TV news genre
In the 15 plus target group, CNN-News18 has maintained its top position by capturing 34.6% market share. With 22.5% market share, Times Now is at number three. Republic TV has captured the second spot with 30.4% share. Key Points
mintLocal investors' Share in listed companies falls with profit-booking
Domestic investors' shares in NSE listed companies declined to 25.50% of total equity value on June 30, after increasing for six quarters in a row, showed data from primeinfobase.com. Key Points
Economic TimesEmerson raises fiscal 2023 forecast on demand for industrial automation
U.S. engineering and industrial software firm Emerson (EMR.N) on Wednesday raised its fiscal 2023 forecast, as companies increase spending on automation in response to a tight labor market. Key Points
Reuters
Carlyle to acquire 5.91% stake in SpiceJet at Rs 48 per share
SpiceJet is seeking shareholder approval to grant a 5.91% stake in the company to Carlyle Aviation Partners, which is the aircraft financing unit of the Carlyle Group. The lessors have valued the airlines Share at Rs 48 per equity share. This is higher than the current Share price of the airline which is trading at Rs 29 at the stock exchange. Further to this, the airline has plans to issue equity shares of 20% to its promoter, Ajay Singh, who will acquire his stake at Rs 10 per Share against an infusion of Rs 500. Key Points
Economic TimesRockwell Automation misses quarterly forecasts on shipping delays
Rockwell Automation (ROK.N) on Tuesday reported third-quarter sales and profit below expectations after shipping delays impacted its ability to get goods to customers. Key Points
ReutersRoper Technologies raises 2023 profit forecast on increased software adoption
Industrial software maker Roper Technologies (ROP.O) raised its annual profit forecast on Friday on robust demand for software, as automation adoption grows across industries grappling with labor shortages. Key Points
ReutersReliance spin-off Jio Financial's Share price set well above estimates
The Share price of Jio Financial Services (JFS), the demerged financial services unit of Reliance Industries (RELI.NS), was set at a much higher-than-expected 261.85 rupees ($3.19) during a special trading session for the parent company's stock on Thursday. Key Points
ReutersIndiaMart InterMesh board to consider Share buyback proposal on July 20; stock jumps 5%
After the announcement of Share buyback, IndiaMart InterMesh Share price rallied over 5% to an intraday high of ₹2,997.20 apiece on the BSE. Key Points
mint
Lower prices help RIL-BP, Nayara treble Share in June diesel sales
As a result, the Share of state-run players has dropped to 90.5% from 96.7% despite BPCL and HPCL gaining marginally. Indian Oil Corp has been the only loser in the game, with its Share declining to 41.4% from 49.1%. Indian Oil's market Share gain was equally dramatic last year, rising from 42.4% in June 2021 as it stepped in to fill the gap left by the private players. Key Points
Economic TimesMaruti Suzuki's SUV sales accelerate
Maruti Suzuki's sales of sport utility vehicles (SUVs) have nearly doubled in the quarter ending June 30, reflecting the strong demand for models like Brezza, Grand Vitara, Fronx, and Jimny. The Share of SUVs in Maruti Suzuki's sales increased to 22.4% from 12.6% a year earlier, while the Share of small cars dropped from 58.8% to 53.2%. Key Points
Economic TimesIndia’s exporting more phones and cars, while jewellery and textiles take a backseat; Is this a temporary
India's merchandise exports have experienced a significant shift, with growth in sectors such as electronics, telecom, mobile phones, machinery, automobiles, and petroleum, while traditional export items like gems, jewelry, apparel, meat, and leather have declined. The Share of electronics exports rose by 73% from 2015 to 2022, while machinery exports grew by 40%. However, India's overall Share in global merchandise exports remains low, signaling the need for more trade agreements and investment in sectors like jewelry and textiles. Key Points
Economic TimesShare Market LIVE: Nifty, Sensex may open in red, SGX Nifty falls 75 pts; IIFL Securities, HDFC AMC in focus
Share Market News Today | Sensex, Nifty, Share Prices LIVE: SGX Nifty was trading 75 points or 0.40% lower at 18,799 in the early morning trade. Asian markets were trading broadly in red. The US market remained shut on Monday. Key Points
FinancialexpressGo First collapse: IndiGo, Tata Group & Akasa gain market Share while SpiceJet loses same in May over April
India Business News: The Wadia Group airline had 6.4% market Share in April which was subsequently lapped up by other big airlines. Big blue IndiGo saw its domestic mark Key Points
Times Of IndiaMRF Share price crosses Rs 1-lakh mark
The reason why MRF’s prices are very high is its extremely low equity base — Rs 4.24 crore. The promoter group holds 27.84 per cent of it. For 2022-23, the company paid Rs 175 a Share (1,750 per cent) as dividend. Key Points
The HinduSpectrum Talent Management IPO to open on Jun 9; to list on NSE Emerge
The initial Share sale comprises a fresh issue of 51.85 lakh equity shares and an Offer for Sale (OFS) of 8.92 lakh equity shares.The Key Points
FinancialexpressWWDC 2023: Apple introduces contact sharing feature NameDrop; what is it and how it works
The new Airdrop feature called “Namedrop” lets users seamlessly Share their phone numbers with another person. Through NameDrop, users just have to bring their phones close together. Key Points
mintRecruitment, IT industries account for highest demand for fresher hiring : foundit
As per the new data, Bengaluru is the top location for fresher hiring, with 12.4% Share of job postings. The city is also offering the highest salary packages. Key Points
Economic TimesDesi investors now own over one-fourth of Dalal Street
India's dependence on foreign capital is decreasing as the Share of domestic institutional investors (DIIs) and individual investors in companies listed on the National Stock Exchange has surpassed 25% for the first time. The net inflow from DIIs reached Rs83,200 crore during the quarter. Key Points
Economic Times
Can Q4 kick Maruti Suzuki Share price beyond Rs 10,000? Here's the Street view
Maruti Suzuki reported an all-time high profit figure, becoming the first passenger vehicle maker in India with an annual turnover of over Rs 1 lakh crore. However, the company's market Share in the passenger vehicle segment slipped to 41% in FY23 from 51% in FY20, led by a demand shift to SUVs where it has a weaker presence. Most brokerages have maintained their bullish view on Maruti Suzuki's stock, with target prices going beyond the Rs 10,000 mark. However, Kotak analyst Rishi Vora has said that the company is expected to find it challenging to regain lost market share. Key Points
Economic TimesMankind Pharma IPO Day 1: Issue subscribed 14%, HNIs subscribed one-third of quota
Qualified institutional buyers (QIBs) subscribed for 8% of their reserved portion. Retail investors bid 14,39,737 times of the shares reserved for RIIs. Key Points
FinancialexpressWipro to consider Share buyback this week
New Delhi [India], April 24 (ANI): Software services firm Wipro said it will consider a proposal for Share buyback at its two-day board meeting which starts Wednesday. Share buyback is the practice where companies decide to purchase their own shares from their existing shareholders. “The outcome of the Board meeting will be communicated to the […] Key Points
ThePrintIpca to acquire 33.4% stake in Unichem Labs for Rs 1,034 crore
The Board approved entering into a definitive Share Purchase Agreement (SPA) for the acquisition of 2,35,01,440 fully paid-up equity shares of Rs 21- each, constituting about 33.38% of the paid-up equity Share capital of Unichem Laboratories, a listed entity, from one of its promoter shareholders at a price of Rs 440/- per equity Share aggregating to Rs 1034.06 crore, Ipca said in an exchange filing. Key Points
Economic TimesReliance Industries Share price jumps 1% today after strong Q4 earnings; Should you buy, hold or sell RIL stock?
RIL shares rose 1% today. Reliance Industries Ltd's net profit surged 19.1% to Rs 19,299 crore on-year in Q4FY23, beating analysts' expectations. Key Points
Financialexpress
HCL Tech Share price jumps 3% today after Q4 results beat market expectations; Should you buy, hold or sell?
HCL Tech shares rose today after IT giant declared an interim dividend of Rs 18 per share. The record date has been fixed as April 28, 2023, for the payment of the interim dividend and the payment date has been set as May 9, 2023. Key Points
FinancialexpressHDFC Bank Share price tanks 2.1% today on muted Q4 results; should you buy, sell, hold HDFC Bank stock?
HDFC Bank Share prices fell 2.1% to Rs 1,656.9 on the private lender's Q4FY23 earnings result. Key Points
FinancialexpressShare Market LIVE: Nifty, Sensex may remain volatile on F&O expiry; Investors await RBI MPC decision
Share Market News Today | Sensex, Nifty, Share Prices LIVE: The Nifty futures on the Singapore Exchange (SGX) were trading 40 pts or 0.23% lower at 17,584.50 in the early morning trade. Asian markets were trading in red and the US market ended the overnight session mostly in red. Key Points
FinancialexpressGoogle Nearby Share desktop app launched, now Share files from Android phones to Windows PCs seamlessly
The new dedicated desktop app will help thousands of users who own an Android phone and a Windows laptop/ desktop. Nearby Share also aims to solve the hassle of transferring files, such as photos or videos, from a phone to a PC or vice versa via a cable. Key Points
India TodayIndia Oil Imports: Saudi gain is Moscow's loss
Russia supplied a record 1.64 million barrels per day (mbd) of crude to Indian refiners in March, higher than 1.58 mbd in February, Vortexa estimates. This was the slowest pace of growth in the past four months, with Russian oil's Share in Indian imports shrinking marginally from 34.5% in February to 34% in March. Key Points
Economic Times
Udayshivakumar Shares Debut At 14% Discount To IPO Price
Udayshivakumar Infra Ltd. shares listed at Rs 35 on the Bombay Stock Exchange and were trading 5% lower at Rs 33.25 per share. Key Points
BQ PrimeTax havens’ Share in FPI assets hits record low
The drop in the Share of tax haven countries was offset by the rising Share of highly regulated nations such as the USA, UK, Norway and Japan. The Share of USA domiciled funds rose to a record high of 42% in February compared with 38.8% a year ago and 35% five years ago. Key Points
Economic TimesDespite big gains & losses in seats, changes in BJP & Congress's vote Share since 2019 remain marginal
BJP's overall vote Share dipped by less than 1 percentage point, while Congress's went up by 1.53. This paradox seen in Lok Sabha results is explained by studying state-wise vote shares. Key Points
ThePrintOverseas air travel: Indian carriers soar, market Share higher than pre-Covid level
Of the total of 1.45 crore passengers who flew into or out of India in October-December last year, Indian Airlines carried 63.06 lakh passengers. Key Points
The Indian ExpressDividend stocks: SBI Cards, REC, CRISIL among 9 stocks to trade ex-dividend today
SBI Cards and Payment Services has declared an interim dividend of ₹2.50 per equity share, REC has declared an interim dividend of ₹4.50 per equity share Key Points
mint
HDFC, HDFC Bank shares trade ex-dividend today; stock prices tank up to 2%
HDFC Bank and HDFC Ltd. turn ex-dividend on Tuesday as the Nifty 50 heavyweights are to pay dividends of Rs 19 per Share and Rs 44 per Share respectively. Key Points
FinancialexpressTitan on course for FY24 as well as FY27 plans: MD
Titan MD CK Venkatraman stated that FY23 was exceptional in terms of sales growth, profit margin expansion, market Share gain, and customer experience standards, and they are on course for their FY24 and FY27 targets. Despite the volatility in gold prices and demand slowdown earlier this year, Venkatraman believes that one fortnight's impact shouldn't worry investors. Key Points
Economic TimesSai Silks Share price gains over 4% post tepid listing. Should you buy, sell or hold?
Sai Silks Kalamandir IPO shares listed with a modest premium of 4.1% on NSE and BSE today. Key Points
mintPrivate oil companies grab bigger Share of aviation fuel market
State-run refiners have traditionally dominated India's aviation turbine fuel business. Private players have, however, gained ground in a decade, aided by open access at airports. Reliance and its JV with BP supply jet fuel at about 30 airports now and serve most of the domestic airlines. Shell's JV sources jet fuel from MRPL's Mangaluru refinery to supply airports in South India. Key Points
Economic TimesPNB Share price jumps ahead of Q3 results today. Buy or sell?
PNB Share price today opened upside and went on to touch an intraday high of ₹103.70 apiece on NSE, which is just ₹3 away from its existing 52-week high of ₹106.70 per share Key Points
mint