Indian shadow lender IIFL Finance Ltd is facing a threat of credit rating downgrade as early as this week, as a months-long regulatory ban on its gold loan business remains unresolved, according to people familiar with the matter. A local rating agency has informed the company about a possible rating change from AA to AA-, said the people, who asked not to be identified as the information.
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Kalana Ispat opened its SME IPO for subscription on September 19 and will close on September 23. The company aims to raise ₹32.59 crore through the offering and plans to list its shares on the NSE SME platform at ₹66 per share. Kalana Ispat IPO Subscription Status The IPO has been witnessing muted demand. The issue was subscribed 0.05 times till 12:15 pm on Thu, the first day of the bidding.
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Procter & Gamble Hygiene and HealthCare's management highlights potential for double-digit sales growth, particularly in feminine hygiene, and cost savings. The company has delivered 8%/13%/15% sales/EBITDA/APAT growth in FY24, with gross margin expanding to 61.6%. Despite this, the stock trades at expensive valuations, and Motilal Oswal reiterates Neutral rating with a target price of INR17,000.
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