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Sensex ends 1,440 pts higher! Investor wealth swells by nearly Rs 7 lakh crore
Indian benchmark indices Sensex and Nifty closed over 1.5% higher, hitting record highs due to expectations of increased foreign inflows following US inflation data. Key sectors like IT, Banking, and FMCG saw gains. Bharti Airtel shares surged nearly 5%, contributing significantly to the rally.
Oyo's GBV reached Rs 10,700 crore in FY24, co reports first time PAT of Rs 229 cr for last fiscal
As per new filings accessed by ET, Oyo's hotel count grew from 12,938 hotels at the end of financial year 2023 to 18,103 at the end of financial year 2024, marking a 40% growth. The company's vacation homes business added 5000-6,000 homes, reaching 84,600 homes by the end of financial year 2024.
VA Tech WABAG bags Rs 2,700 cr sea water desalination plant order from Saudi Water Authority
VA Tech WABAG has secured a USD 317 million contract from Saudi Water Authority to set up a 300 million litres per day desalination plant in Saudi Arabia. The project aligns with Saudi Vision 2030 and will be completed in 30 months, using advanced desalination technologies for energy efficiency and environmental compliance.
General Insurance stake sale: Govt likely to earn Rs 4,700 crore from 6.8% divestment in GIC Re
The government is set to sell a 6.8% stake in General Insurance Corporation of India (GIC Re) through an offer-for-sale, priced at Rs 395 per share. This move aims to raise around Rs 4,700 crore and contribute to the disinvestment fund. The sale will be conducted over two days for different investor categories.
Oyo projects three-fold rise in FY25 PAT at Rs 700 crore
According to founder and CEO Ritesh Agarwal, Oyo achieved a net profit (PAT) of about Rs 132 crore in Q1 FY 2025, a turnaround from the Rs 108 crore loss reported for the same quarter of the previous fiscal year.
Frenzy Ride! This Rs 12-crore SME IPO receives investor bids worth Rs 4,700 cr
Resourceful Automobile's IPO saw overwhelming demand, receiving bids worth ₹4,700 crore for a ₹12-crore issue. The New Delhi-based company, which runs Yamaha showrooms, aims to expand operations, repay debt, and meet working capital needs with the raised funds. The SME issue will list on the BSE SME platform on August 29.
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Tata Chemicals raises Rs 1,700 crore through NCDs
The NCDs have a fixed rate coupon of 7.81 per cent and have been issued based on multiple yield allotment method. The NCDs will be listed on the Debt Segment of National Stock Exchange of India Limited (NSE), the filing said.
Realty developer Emperium targets Rs 700 crore from two residential projects
Emperium Pvt Ltd plans to earn Rs 700 crore from its residential projects in Gurgaon and Yamunanagar. The developments will encompass a premium housing project in Gurugram, aligning with the city's infrastructure growth, and a resort-style township in Yamunanagar, addressing the rising demand for sustainable living spaces due to urban growth and industrialization.
Indus Towers Rs 2,700 crore-share buyback bids open on Wednesday. Check details
Indus Towers Shares Buyback: Eligible shareholders can now participate in the buyback. The settlement of bids will be completed on or before August 28. Small shareholders are entitled to receive one equity share for every 4 shares they held as of the record date. For general category shareholders, the buyback entitlement ratio is 5 equity shares for every 139 shares held on the record date.
Tata Chemicals plans to raise Rs 1,700 crore through NCDs
The company proposes to issue 1,70,000 NCDs of face value Rs 1 lakh each, aggregating to Rs 1,700 crore, on a private placement basis to eligible investors
Jio Studio films garnered Rs 700 crore business at box office
Jio Studios, part of Mukesh Ambani's Reliance Industries, has achieved Rs 700 crore in box office revenue over the past year, according to Reliance's latest annual report. The studio's extensive output in 2023-24 includes 11 theatrical releases, 35 direct-to-digital releases, and 8 original web series, making it the largest film studio output of the year.
Grihum Housing Finance Q1 Results: Net profit soars 77% YoY to Rs 46 crore
Grihum Housing Finance, formerly Poonawala Housing Finance, reported a net profit after tax of Rs. 46 crore for the first quarter of this fiscal, up 77% on year. The housing finance company has assets under management of Rs. 8,700 crore, up 33% on year.
NHAI prepays debt of Rs 15,700 crore; saves on Rs 1000 crore interest
The National Highways Authority of India (NHAI) has successfully prepaid a debt of Rs 15,700 crore from 2023-24 monetisation proceeds, resulting in an estimated interest savings of around Rs 1,000 crore. The NHAI plans to monetize projects worth Rs 15,000-20 crore through infrastructure investment trust (InvIT) in 2024-25, aiming to reduce its overall debt liability to around Rs 3,00,000 crore by the end of fiscal 2025.
Bhive Workspaces plans to raise Rs 800 crore via IPO
Ahead of the IPO, the company aims to reduce exposure in its primary market of Bengaluru by entering new markets. Bengaluru currently accounts for 95% of Bhive's portfolio.
Puducherry CM Rangasamy presents Rs 12,700 crore tax-free budget
Rangasamy said that a major portion of the financial resources go towards meeting committed expenditure such as salaries, pension, repayment of loans and interest payments. The Central government had conveyed its approval for the net borrowing ceiling to the extent of Rs 2,066.36 crore "to bridge our fiscal deficit," he said.
Indus Towers announces Rs 2,700 crore share buyback. Check record date
Indus Towers has set August 9 as the record date for its buyback, which represents 9.9971% and 9.9668% of its fully paid-up equity share capital and free reserves as of June 30, 2024. The company reported a 43% YoY increase in net profit to Rs 1,926 crore for Q1, fueled by Bharti Airtel’s 5G expansion and past dues collection from Vodafone Idea.
WSB Real Estate raises Rs 700 cr for mid-income, affordable housing investments
WSB Real Estate Partners has raised over Rs 700 crore via its real estate debt fund to invest in mid-income and affordable housing projects in tier I and select tier II Indian cities. This marks the first close of its fourth SEBI registered Category II Alternative Investment Fund (AIF), which aims for a Rs 1,000 crore corpus, expandable by another Rs 1,000 crore through a green shoe option.
Investors poured Rs 700 crore in Gold ETFs in June. Is it a good investment?
AMFI reports Rs 726.16 crore June inflow in gold ETFs, following Rs 827.43 crore in May and a Rs 395.69 crore April outflow. H1 2024 inflows total Rs 3,185 crore, with a 24% AUM rise. Global inflation, AUM surge drive appeal. LIC MF Gold ETF and oldest Nippon India ETF top performers, per Melvyn Santarita.
Buy Gujarat Gas, target price Rs 700: JM Financial
Gujarat Gas Ltd., incorporated in the year 2012, is a Mid Cap company (having a market cap of Rs 44266.93 Crore) operating in Gas & Petroleum sector.
Buy Ambuja Cements, target price Rs 700: Emkay Global
Ambuja Cements Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 169955.52 Crore) operating in Cement sector.
Signature Global reports Rs 2,700 crore sale from Gurgaon project
Realty developer Signature Global has reported Rs 2,700 crore in sales from its Titanium SPR project in Sector 71, Gurugram. The property offers premium residential units and have garnered overwhelming interest, showcasing the company's commitment to quality and setting a new benchmark in the region's premium housing segment. The project, spanning 14.382 acres, has achieved remarkable sales through a digital process overseen by the Boston Consulting Group.
Aris Infra plans to raise Rs 600-700 crore via IPO
Aris Infra, a Mumbai company using technology to streamline construction material procurement, is planning an IPO to raise Rs 600-700 crore. The company has attracted investment from prominent individuals and prestigious financial institutions including Think Investments, TPG Capital, and BlackRock.
Megha Engineering emerges lowest bidder for Rs 12,800 cr nuclear power project
Megha Engineering & Infrastructures Ltd has been the lowest bidder for a Rs 12,800 crore engineering, procurement and construction (EPC) contract from the state-owned Nuclear Power Corporation of India. The company, which is the second-biggest buyer of electoral bonds and faces corruption allegations, submitted the lowest bid of Rs 12,799.92 crore.
Promoter Blackstone sells 15% stake in Mphasis for Rs 6,700 crore
Blackstone held a majority stake in the IT firm at 55% as of March. Now it's down to 40%, but still, it's the largest shareholder. Mutual funds hold 13.88% and foreign investors like Nomura hold 14.86%. According to the exchange data, marquee funds including Kotak MF, Morgan Stanley, Societe Generale picked up stakes in the transaction.
Wockhardt Q4 Results: Company posts consolidated net loss of Rs 177 crore
Drug firm Wockhardt on Tuesday reported a consolidated net loss of Rs 177 crore for the fourth quarter ended March 31, 2024. The company had reported a net loss of Rs 237 crore in the January-March quarter of 2022-23.
Hudco Q4 Results:Net profit rises 9% YoY to Rs 700 crore
The company's total income for the quarter was 18% higher at Rs 2,194 crore against Rs 1,862 crore. Its board recommended a final dividend of Rs 2.65 per equity share on the face value of Rs10 each for the financial year 2023-24.
Telco EMDs for June 5G sale lowest since 2014 auction: Analysts
India's top telcos submit low earnest money deposits (EMDs) for the upcoming 5G spectrum auction, marking the lowest since 2014. Analysts suggest selective bidding, foreseeing maximum spectrum demand of $2.5 billion, far below previous auctions. Reliance Jio leads EMDs; Airtel and Vi likely focus on renewals and selective bidding for 5G rollout.
RBI approves dividend of Rs 2.11 lakh crore to Centre for FY24, up 140% YoY
RBI DIVIDEND: At its 608th meeting in Mumbai, the Reserve Bank of India approved a dividend of Rs 2.11 lakh crore for the Central government for FY24, marking a 141% increase from FY23's Rs 87,416 crore. This move, reported earlier by ET, aids the Centre in reaching its fiscal deficit target for FY25.
India needs Rs 4.2 lakh cr investment to connect 24 cr households with broadband by 2030
According to the break-up provided by Prashant Singhal, fibre deployment will need investments in the range of Rs 2.7-3 lakh crore, passive infrastructure Rs 90,000-96,000 crore, WiFi and in-building solutions Rs 6,600-Rs 9,000 crore, data centres Rs 9,700-Rs 14,100 crore and satellite broadband services Rs 26,000-29,000 crore.
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