US Stock Reports, Quotes and News
Domestic brokerage Kotak Institutional Equities has a buy rating on IndiGo with a target price of Rs 5,700. The probability of Indigo breaching margin peaks is increasing. Most challengers to IndiGo will see another year of stiff losses in FY2025.
Bajaj Finance\’s housing finance arm is set to raise ₹4,000 crore via an initial public offering (IPO) to meet RBI mandates, as confirmed by the company in a stock exchange filing.
GIFT Nifty: Domestic equities rose for a second day as investors analyzed Lok Sabha 2024 elections outcome. Focus on government formation, ECB meeting today, and RBI policy tomorrow.
Ixigo IPO GMP: Ixigo IPO comprises a fresh equity sale of Rs 120 crore and an offer for sale (OFS) of up to 6.66 crore shares. Under the OFS, SAIF Partners, Peak XV Partners, Aloke Bajpai, Rajnish Kumar, Micromax Informatics, and Placid Holdings will offload part of their stakes.
Motor Insurance New Rules by IRDAI: The Insurance Regulatory and Development Authority of India (IRDAI) has updated the master circular clarifying important rules for motor insurance policyholders. The regulator has proposed the implementation of strict timelines for claim settlements of auto insurance policyholders. It is a crucial step towards improving efficiency and customer satisfaction. Another key change is the introduction of a customer information sheet (CIS) for auto insurance policies to enhance customer awareness.
Inox Green Energy Services, which provides operation and maintenance (O&M) services to wind power operators, plans to raise Rs 800-1,000 crore through a combination of preferential allotment and warrant issuance to fund future acquisitions, according to multiple sources familiar with the matter.
IIFL Finance\’s microfinance subsidiary IIFL Samasta Finance has garnered Rs 216 crore through its second public bond issue against a Rs 1,000-crore target despite higher interest rates, as investors were likely concerned over the regulatory scrutiny on IIFL Finance\’s gold loan business.
Indian benchmark equity indices, Sensex and Nifty50, logged record closing highs for a second straight session on Friday, driven by state-run companies and energy stocks on hopes of continued capital expenditure spending by the new government.
Wall Street\’s main indexes edged lower on Monday as investors awaited fresh economic data and comments from Federal Reserve officials throughout the week for more clarity on monetary policy.
Jindal Stainless on Monday said it has acquired the remaining 46 per cent stake in Chromeni Steels Private Ltd (CSPL) for Rs 278 crore. Consequently, CSPL has become a wholly-owned subsidiary of the company, with effect from June 15, 2024, Jindal Stainless Ltd (JSL) said in a release.
Sensex and Nifty hit new highs. NCLAT directs NCLT to re-hear APL Apollo Tubes insolvency plea. Reliance Jio\’s tech collaboration with TM Forum sees 80% resource increase. Police investigate child labor at Som Distilleries. Mahindra Lifespace targets sharp increase in sales. Lupin enters CDMO business. Alembic Pharma receives FDA approval.
Investors looking for safer bets on Dalal Street could consider HDFC Bank but they would be better off putting money in the stock in installments over the next few months. HDFC Bank has been among the top picks of mutual funds, but the absence of big foreign purchases has kept a lid on the stock price.