US-based GQG Partners, which has invested in the crisis-ridden Adani group, has sold its part stake in HDFC Asset Management Company (AMC) through open market transactions on Monday. GQG Partners has sold about 24.7 lakh shares or 1.16% equity in the company for nearly Rs 397 crore. The deal was executed at an average weighted … Read more
“But on a downside, as of now, I believe that the Nifty again might test 17200-17000 levels on the downside because on every resistance level it is facing a selling pressure and as of now Nifty is facing a very strong resistance at around 17700 to 17800 marks as well,” says Swati Ananda Hotkar, Nirmal … Read more
TMC MP Derek O’Brien speaks in the Rajya Sabha during the first phase of the Budget Session of Parliament in New Delhi on February 7, 2023. File | Photo Credit: PTI The TMC will raise in Parliament issues such as LIC and SBI’s risk exposure, price rise of essential commodities, unemployment and “misuse” of central … Read more
Promoter entities in Adani Transmission and Adani Green Energy have pledged additional shares with SBI Trustee Company on March 6, according to the disclosures on the exchanges. In Adani Green Energy, 1,56,65,500 shares or 0.99% more stake has been pledged. With this, a total 2% stake is pledged with SBI Trustee. The release did not … Read more
State Bank of India (SBI), the country’s largest lender, has raised Rs 3,717 crore by issuing a Tier 1 bond at a coupon rate of 8.25%. The proceeds of bonds will be used in augmenting the overall capital base of the bank and will strengthen the bank’s capital adequacy ratio, the bank said. This is … Read more
“I think the larger private sector banks have also consolidated for a long time. So I think they also present good opportunities, stocks like ICICI, Axis, or even if you want to take a higher risk, instead of taking it on a PSU bank, you could take it on a bank like IndusInd Bank, etc,” … Read more
“Coming towards the Bank Nifty, it was the Bank Nifty who has given support to the Nifty as such because we have seen a very good amount of a positive momentum to the Bank Nifty on today’s intraday basis,” says Swati Ananda Hotkar, Nirmal Bang SecuritiesLet us just start by talking about the markets today. … Read more
The Indian market opened higher on Friday tracking positive global cues. The Nifty 50 index rose 192 points or 1.11% to 17,507, while the S&P BSE Sensex surged 638 points or 1.16% to 59,547, as of 10.15 am. The S&P BSE Sensex fell more than 500 points while the Nifty50 fell below 17,350 level on … Read more
India is setting up a fund worth Rs33000 crore ($4 billion) to provide liquidity to its corporate debt market during bouts of stress, to help stem panic selling and ease redemption pressures, an SBI Mutual Fund executive told Reuters. Asset managers would contribute 10% of the fund, deputy managing director DP Singh said. According to … Read more
NEW DELHI: Following changes made in the Union Budget last week and RBI policy on Wednesday, global brokerage firm Jefferies has reshuffled its India model portfolio to add and Cholamandalam Finance by removing . “Our finance team is now incrementally positive on non-bank lenders as the rate hike cycle nears its end,” Jefferies’ Mahesh Nandurkar … Read more