With just a session left for September to end, so far Foreign Portfolio Investors (FPIs) have been net buyers of Indian equities at Rs 57,359 crore. The total investments by them now stand at Rs 1,00,245 crore on the year-to-date basis and is highest in nine months. In August, FPIs bought domestic shares worth Rs … Read more
Mumbai: Union Bank of India has put on sale nonperforming assets (NPAs) worth ₹1,217 crore and the bank is looking to recover ₹1,012 crore, targeting 80% recovery on the sale of loans. The portfolio on sale comprises 16 accounts, including advances to Gammon India, Supertech Realty, Hotel Horizon, and ACCIL Corp. Prospective buyers have until … Read more
Mumbai: Global venture capital firm Sequoia Capital, now rebranded as Peak XV Partners, has exited its near decade-long investment in Go Fashion (India). The fund on Monday sold its remaining 10.18% stake in the women’s apparel maker for nearly ₹625 crore, according to exchange deal data. Sequoia sold nearly 55 lakh shares of Go Fashion … Read more
Mumbai: Uber Technologies exited its entire 7.8% stake in food delivery platform Zomato by selling 612 million shares through multiple block deals on Wednesday. The American mobility service provider raised around ₹3,088 crore or $390 million at nearly 100% profit. In January 2020, had acquired Uber Eats’ India operations in a non-cash deal, following which … Read more
TOKYO: The dollar edged up on Thursday supported by expectations for aggressive Federal Reserve monetary tightening, but was well off the previous day’s peaks amid nervousness about what a gathering of finance ministers might say about its rapid appreciation. The greenback added 0.36% to 128.335 yen, after soaring to a two-decade high of 129.430 on … Read more
Mumbai: Investor response to three stock market debutants – PB Fintech, Industries and SJS Enterprises – on Monday was mixed. Sigachi’s debut was the strongest with the stock listing at ₹570, a 253% premium over its issue price of ₹163, best in 13 years. After listing at a premium of 253% over the offer price, … Read more
On the valuation front, considering its one-year forward earnings, the stock of UltraTech Cement is trading at an EV/EBIDTA of 16.4. Synopsis The management said it will increase cement prices in the coming months as the cost of production increases in tandem with rising fuel prices. It has already increased cement prices by ₹10-15 in … Read more
By Swansy Afonso Jewelers in India may be staring at their worst sales in the key festival quarter in 12 years, as the coronavirus pandemic slams the ability of buyers, especially in cities, to purchase gold. Demand typically jumps in the last three months of the year, when the biggest Hindu festivals combine with the … Read more