SBI Cards and Payment Services Ltd. witnessed a decline of 5.56% as its shares traded at Rs 717.55 on the BSE at 02:04 PM (IST) on Monday. The stock experienced a 52-week low of Rs 690.9 and a high of Rs 932.35. Opening with a gap down, the current stock price reflects 29.11 times its […]
Adani Green Energy Limited (AGEL) has successfully secured funding for its $750 million 4.375% notes due on September 9, 2024, known as Holdco Notes. This achievement comes after the receipt of Rs 9,350 crore (approximately $1,125 million) through preferential allotment to AGEL’s promoters, which was overwhelmingly approved by shareholders with a 99.9% majority on January […]
Bharat Petroleum Corporation Ltd (BPCL) on Monday reported a 73.4% year-on-year (YoY) rise in net profit for the quarter ended December 2023 at Rs. 3,397.27 crore. Revenue from operations, net of excise duty, declined 3% YoY to Rs 1.15 lakh crore, but the figure was higher than the estimated Rs. 1.05 lakh crore. The current […]
Piramal Enterprises is set to divest its complete 20% stake in Shriram Investment Holdings Private Limited to Shriram Ownership Trust for Rs 1,440 crore. The transaction is anticipated to conclude by the end of the current financial year, aligning with Piramal’s strategy to monetize non-core assets. The company highlighted that the sale would enhance its […]
Yedeshi Aurangabad Tollway Ltd (YATL), a special purpose vehicle under IRB Infrastructure Trust, has successfully secured an arbitration award amounting to Rs 1,720 crore for a highway project, as per a statement released on Sunday. The arbitration proceedings were initiated by YATL against the National Highways Authority of India (NHAI) following a dispute over the […]
Bernard Arnault, the billionaire chairman and CEO of LVMH, has surpassed Elon Musk as the world’s richest person, with a reported net worth of $207.8 billion following a $23.6 billion increase. LVMH, the luxury goods conglomerate encompassing brands like Louis Vuitton, achieved a market cap of $388.8 billion, while Tesla’s market cap stood at $586.14 […]
On January 27, 2024, Yes Bank announced that its board has approved the transfer of investment banking and merchant banking businesses from YES Securities (India) Limited (YSIL), its wholly-owned subsidiary, to the bank. The lender mentioned in an exchange filing that YES Securities will surrender its merchant banking license, and the transfer of business will […]
India’s robust retail lending sector is raising concerns within the banking industry, with a potential systemic risk looming. The year-over-year growth in non-mortgage lending by banks and non-banking financial companies (NBFCs) at 25-30%, driven by credit cards, durables, autos, personal loans, and education loans, is becoming a focal point. While a recent RBI study suggests […]
In 2023, the inflow of foreign funds into the Indian real estate sector witnessed a 30% decline, totaling USD 2.73 billion, as per data from real estate consultant Vestian. However, investments from domestic players surged by over two times, reaching USD 1.51 billion, a 120% increase from the previous year. Overall institutional investments in real […]
Binny Bansal, co-founder of Flipkart, has officially stepped down from the board of the e-commerce giant he co-founded in 2007 with Sachin Bansal. Binny, currently based in Singapore, communicated his resignation to the board earlier this week, attributing the move to a conflict with his newly established venture, OppDoor, in the e-commerce sector. OppDoor, a […]