The Indian market closed in the red on Monday for the fourth consecutive day. The benchmark indices fell by more than 1% each, tracking muted global cues. The S&P BSE Sensex plunged over 800 points, while the Nifty50 closed below the 19,300 mark. Indian markets were shut on Tuesday on account of a public holiday. … Read more
Shares of non-banking financial company-micro finance institution (NBFC-MFI) CreditAccess Grameen zoomed over 12% to Rs 1,560 in Monday’s trade on BSE after the firm reported a 98% year-on-year (YoY) jump in net profit at Rs 347 crore on the back of strong business growth. The net profit was Rs 175 crore in the year-ago quarter. … Read more
Bengaluru-based CreditAccess Grameen‘s redeemable Non-Convertible Debentures (NCD) tranche II will open for subscription on Thursday, August 24. The coupon rate is up to 9.70% p.a. with effective yield up to 10.13% p.a., the company said in its filing to the exchanges. The issue ends on September 6, 2023. The base size of the NCD issue … Read more
CreditAccess Grameen is all set to enter the bond market next week to raise up to Rs 1000 crore in non-convertible debentures, as it looks to diversify the liability profile. This is the second bond raising by India’s largest NBFC-MFI after raising Rs 500 crore in November last year. “The issue is in sync with … Read more
IT majors TCS, HCL Tech and Wipro kicked off first-quarter earnings last week and the results were mostly subdued in line with expectations. In the coming week, private banking giants HDFC Bank, Kotak Mahindra Bank, YES Bank, and ICICI Bank will announce their earnings. For HDFC Bank, this will be the first results card after … Read more
On the back of low inflation and lower raw material prices led by a decline in crude oil prices mid and smallcap indices hit their new 52-week high. The Nifty Midcap100 index surged 0.71% to 35,397, while the Nifty smallcap100 index rose 0.78% to 10,824 in Monday’s trade. Meanwhile, since April, Nifty Midcap100 gained 12.5%, … Read more
“So not major challenges we see from earnings growth perspective given the fact that most of the bigger sectors, especially banking are sort of firing all cylinders,” says Pankaj Pandey, Head Research, ICICIdirect.com.While everything is looking good, Nifty is up 10% from the recent low, Bank Nifty double digit gains. Are you a bit surprised … Read more
Indian market closed in the red for the second day in a row on Wednesday tracking muted global cues. The S&P BSE Sensex fell more than 300 points while the Nifty50 closed below 18200 levels. Sectorally, buying was seen in auto and FMCG stocks while selling was visible in realty, metals, IT, and power stocks. … Read more
Indian market is expected to trade higher on Thursday tracking positive global cues. S&P BSE Sensex rose nearly 200 points while Nifty50 settled above 18300 levels on Wednesday. India VIX was up by 3.17% from 12.67 to 13.08 levels on Wednesday. Volatility has been rising from the last four sessions and creating swings in the … Read more
India’s largest NBFC-MFI CreditAccess Grameen is for the first time planning to tap the retail bond market to raise up to Rs 1,500 crore as it looks to diversify its funding source and reduce the on bank borrowing. The retail bonds – likely to be for three- to five-years tenure – may bear interest rates … Read more