One of the world’s largest money managers Vanguard Group’s India stock portfolio is faring poorly in the current calendar year, with nearly 60% of the 26 stocks languishing. Vanguard, which owns Indian stocks worth nearly Rs 36,000 crore through its various funds, has seen a decline in its portfolio value by Rs 664 crore in … Read more
Shares of Maruti Suzuki India (MSIL) jumped 4% on Wednesday to hit a fresh 52-week high of Rs 12,722.70 on the NSE. The company also entered the coveted club of stocks with a market capitalisation of Rs 4 lakh crore. Currently, there are 13 other stocks with a market capitalisation of Rs 4 lakh crore … Read more
State-run NTPC, NHPC and NLC India will see their weights go up on the Nifty CPSE following a semi-annual rejig in the index, effective from Thursday, March 28. The adjustment will likely trigger passive cumulative inflows of $94 million according to estimates by Nuvama. A lion’s share will be contributed by NTPC ($71 million) followed … Read more
Brokerage Jefferies initiated coverage with a buy rating on Shriram Finance while UBS maintained a buy rating on Dr Lal PathLabs and Reliance Industries. Bernstein has an outperform rating on HDFC Bank. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on Shriram Finance: Buy| Target Rs … Read more
Technical charts indicate the market appears poised to sustain its upward momentum going ahead. Technical analysts predict Nifty is likely to advance towards 22,600, followed by 23,000, with robust support at 21,920. They suggest stocks such as Oracle Finance, HDFC Life, Marico, Pidilite, ICICI Bank, Maruti, Cipla, Sun Pharma, Larsen & Toubro, PNB, HAL, and … Read more
ET Intelligence Group: Integrated marketing services provider RK Swamy plans to raise up to ₹423.5 crore through an initial public offering (IPO). This includes a fresh issue of ₹173 crore and an offer for sale (OFS) of ₹250.5 crore. Promoters Srinivasan K Swamy and Narasimhan Krishnaswamy and investors such as Evanston Pioneer Fund LP and … Read more
Piramal Enterprises will sell its entire stake of 20% in Shriram Investment Holdings Private Limited to Shriram Ownership Trust for Rs 1,440 crore, with the transaction expected to be completed by the end of this financial year. “This transaction is aligned with our focus on monetizing non-core assets. The proceeds from the transaction will further … Read more
Mumbai: Shriram Finance has carried out its largest-ever fund-raising in capital markets by raising $750 million through bonds, marking the resumption of high-yield issuances by Indian corporates. These bonds, with a maturity of 39 months, were priced at 6.625%, lower than the initial guidance of 7%, top management of Shriram Finance and arrangers to the … Read more
Trideep Bhattacharya, CIO, Edelweiss MF, says: “It will probably take the next year for that improvement to come through. But the valuations over the next one or two quarters would be such that they may be good to add. On net balance, we were underweight on IT by about 300 bps at the end of … Read more
Shriram Finance holds a strong chance to replace UPL in Nifty when the next review of the index happens in March 2024, according to estimates by Nuvama. The brokerage also sees a medium to high probability of Canara Bank replacing Bandhan Bank in the Nifty Bank index. Shriram Finance, which has a market cap of … Read more
