A one-time gain of Rs 855 crore from the sale of its stake in Shriram Finance helped Piramal Enterprises report Rs 509 crore consolidated net profit for the April-June quarter, barring which it would have been in deep red, according to a company statement. In the June 2022 quarter, the company booked a net profit … Read more
Billionaire Mukesh Ambani, the king of disruption, is at it once again. Just when Bajaj Finance became India’s most valued NBFC following a $40 billion reverse merger of HDFC with HDFC Bank, Reliance Industries (RIL) has already fired a $20 billion salvo to change the pecking order in the world of shadow lenders. Following a … Read more
Indian market is likely to consolidate on Thursday tracking muted global cues. The S&P BSE Sensex fell more than 200 points while the Nifty50 closed below 19400 levels in the previous trading session. India VIX was down by 0.68% from 11.01 to 10.93 levels on Wednesday. Volatility sunk lower and is hovering near its lower … Read more
These 10 midcap stocks touch their new 52-week high; gain up to 26% in a month Source link
Mumbai: Traders have mounted bullish bets on HDFC Asset Management Co and Shriram Finance as the recent exit of large investors in these companies are seen to remove the share supply overhang. Analysts said both stocks are likely to be outperformers in the coming months. HDFC AMC shares rallied 11.28% on Tuesday after Abrdn Investment … Read more
Private equity firm TPG Investments has sold its entire stake in Shriram Finance through its India arm via open market transactions on Monday. According to bulk deal data available with the exchanges, TPG India Investments has offloaded about 99.18 lakh shares or 2.64% stake in the company. The transaction was done at a weighted average … 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
Mumbai: Housing, vehicle and consumer finance-linked NBFCs are expected to report about a 20% rise in earnings for the March quarter though profit margins may be squeezed due to the rising cost of funds. Bajaj Finance, Cholamandalam Investment and Finance and Shriram Finance may lead the growth due to strong consumer demand and as they … Read more
Mumbai: Shriram Finance, formerly known as Shriram Transport Finance (STFC), has raised $150 million through a private placement of senior secured floating-rate notes with Japan’s MUFG Bank. The notes, due in 2026, are priced at a 225-basis-point premium to the secured overnight financing rate (SOFR), translating into a cost of 9% for the financier. One … Read more
Hindustan Aeronautics Ltd (HAL) is likely to be included in the MSCI Standard Index, when the index provider will review the constituents once again in May 2023, according to Nuvama Institutional Equities. The brokerage said, based on its calculations and understanding of methodology, HAL holds a high chance to get included in the May 2023 … Read more