Why Lok Sabha election is a non-event for stock market investors
Fri, Mar 29, 2024 1:18 PM

Why Lok Sabha election is a non-event for stock market investors

As the electorate prepares to vote in the upcoming general election to determine India's leadership for the next five years, market watchers often look for cues on how the results might sway sentiments. History shows us that election outcomes can significantly influence market movements. For instance, in 2004, the market dipped when the BJP lost power; in 2009.

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Zerodha Fund House AUM gains Rs 500 cr in 40 days; total hits Rs 1,000 cr
Fri, Mar 29, 2024 1:18 PM

Zerodha Fund House AUM gains Rs 500 cr in 40 days; total hits Rs 1,000 cr

Hitting a new milestone, Zerodha Fund House recorded a significant surge in its assets under management (AUM) from Rs 500 crore to Rs 1,000 crore in just 40 days. The fund house touched the asset base of Rs 500 crore on February 15. Zerodha Fund House is a joint venture between Zerodha and smallcase. It forayed into the mutual fund space with the launch of passive funds in October 2023.

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Expert View: Valuations are looking expensive for the market as a whole
Fri, Mar 29, 2024 1:16 PM

Expert View: Valuations are looking expensive for the market as a whole

Expert View: As we draw curtains on FY24, Kunal Vora, Head of India Equity Research, BNP Paribas speaking on the market outlook  said that Domestic flows have become the bedrock of Indian Equities. However, valuations are looking expensive for the market as a whole and most of the key sectors. Bond-earnings yield gap is elevated which he sees as a cautious indicator.

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Heads up, credit card holders: New rules take effect in April
Fri, Mar 29, 2024 1:12 PM

Heads up, credit card holders: New rules take effect in April

The start of a new financial year typically introduces alterations in financial rules and policies, and credit cards are not exempt. Below is an overview of key credit card-related updates taking effect from April 1, 2024:Changes in SBI credit card reward points Starting from April 1, 2024, SBI Card will discontinue earning reward points on rent payment transactions for specific credit cards.

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Fresh housing supply drops 15% in January-March to 69,000 units
Fri, Mar 29, 2024 1:09 PM

Fresh housing supply drops 15% in January-March to 69,000 units

New supply of residential properties fell 15 per cent during January-March across eight major cities at 69,143 units despite high demand, according to Cushman & Wakefield. Real estate consultant Cushman & Wakefield on Friday released the data for launches of residential properties in the primary (first sale) of eight major cities.

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UP real estate regulator's conciliation forum frees up Rs 570 crore
Fri, Mar 29, 2024 1:08 PM

UP real estate regulator's conciliation forum frees up Rs 570 crore

The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has made assets valued at over Rs 570 crore dispute-free between February 2019 and December 2023 through its conciliation forum, officials aware of the matter said. They said that the authority has solved over 73 percent complaints received in its conciliation forum during the same period.

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SRM Contractors IPO: GMP, subscription status to allotment date
Fri, Mar 29, 2024 1:07 PM

SRM Contractors IPO: GMP, subscription status to allotment date

SRM Contractors IPO: Subscription for the initial public offering (IPO) of SRM Contractors Limited ended on 28th March 2024. In three days of bidding from 26th to 28th March 2024, SRM Contractors IPO subscription status suggests that the public issue received a strong response from the primary market investors. After the end of bidding, investors are eagerly waiting for the SRM Contractors IPO.

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Anand Rathi suggests these two renewable energy stocks on strong finance
Fri, Mar 29, 2024 12:59 PM

Anand Rathi suggests these two renewable energy stocks on strong finance

Domestic brokerage firm Anand Rathi has initiated coverage on Suzlon Energy and Inox Wind, assigning them 'Buy' ratings. This move comes in light of the renewed attention on the wind-energy sector driven by the government's ambitious growth agendas.“We initiate coverage of these two companies, with Buy ratings, at TPs of respectively Rs49 (35x FY26e PE) and Rs590 (30x FY26e PE).

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Promoter of Shriram Finance sold over 59 lakh shares for Rs 1,427 crore
Fri, Mar 29, 2024 12:59 PM

Promoter of Shriram Finance sold over 59 lakh shares for Rs 1,427 crore

Sanlam Life Insurance -- one of the promoters of Shriram Finance -- on Thursday offloaded shares for Rs 1,427 crore through an open market transaction. Shriram Finance is one of the country's biggest retail non-banking financial companies (NBFCs) offering credit solutions for commercial vehicles, two-wheeler loans, and car loans.

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RIL buys 26% stake in Adani’s Mahan unit for Rs 50 cr to secure captive
Fri, Mar 29, 2024 12:58 PM

RIL buys 26% stake in Adani’s Mahan unit for Rs 50 cr to secure captive

In a deal involving two of India’s largest conglomerates, Mukesh Ambani’s Reliance Industries Ltd (RIL) will buy a 26 percent stake in Mahan Energen Ltd (MEL), a unit of Adani Power led by Gautam Adani. RIL will acquire 5 crore shares of MEL for Rs 50 crore, giving the company access to 500 megawatts (MW) capacity that it plans to use for captive purposes, the companies told exchanges separately.

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Adani Energy in talks with banks to borrow up to $600 million
Fri, Mar 29, 2024 12:57 PM

Adani Energy in talks with banks to borrow up to $600 million

Adani Energy Solutions Ltd is seeking a credit facility for as much as $600 million to fund smart meter projects for electricity supply, according to people familiar with the matter. The unit of India’s ports-to-power conglomerate is discussing the planned transaction with a group of global lenders, the people said, asking not to be identified because the details are private.

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Karnataka Bank approves Rs 600 crore QIP share allotment
Fri, Mar 29, 2024 12:56 PM

Karnataka Bank approves Rs 600 crore QIP share allotment

Private lender Karnataka Bank’s committee of directors on Thursday approved the allotment of shares worth Rs 600 crore at a price of Rs 227 apiece to qualified institutional investors.The QIP for ₹ 600 crore opened on March 21 and closed on March 27.The capital raise comprised the QIP of Rs 600 crore along with the preferential issue of Rs 800 crore in October last year.

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Petroleum products exports drop 15% in March on weak margins
Fri, Mar 29, 2024 12:46 PM

Petroleum products exports drop 15% in March on weak margins

India’s exports of refined oil products that have started to stabilize last month after a drastic decline in the beginning of 2024 have once again witnessed a downfall in March on the back of weakening export margins, as per latest ship-tracking data. The country exported a total of 1.28 million barrels per day of refined oil products in March, down 12.5% from the previous month.

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GOCL Corp hits upper circuit after Rs 3,402-cr land deal
Fri, Mar 29, 2024 12:46 PM

GOCL Corp hits upper circuit after Rs 3,402-cr land deal

Shares of GOCL Corporation, a Hinduja Group firm, hit the 20% upper circuit at Rs 453.35, a day after it said it has signed an agreement with Hyderabad-based developer to monetise 264.5 acre land in Kukatpally, Hyderabad. The company will get Rs 3,402 crore from the deal. Late on Wednesday, GOCL said it has signed a memorandum of understanding with Squarespace Builders to monetise the land.

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Govt updates list of banks authorised to import gold, silver during FY25
Fri, Mar 29, 2024 12:45 PM

Govt updates list of banks authorised to import gold, silver during FY25

The government on Thursday updated the list of banks authorised to import gold and silver during 2024-25. As per the list, 11 banks, including HDFC Bank and ICICI Bank, have been authorised by the Reserve Bank of India to import gold and silver for 2024-25 with effect from April 1. The authorisation will be valid up to March 31 next year. "List of banks authorised to import gold/silver.

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