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TPG Growth-backed SK Finance, an NBFC engaged in used and new vehicle financing and secured business loans, raised Rs 1,328 crore from existing investors along with few other new investors.

The expected inflows are to the tune of $591 million with PNB accounting for the lion’s share at $154 million followed by BHEL ($152 million), NMDC ($145 million) and Union Bank ($140 million), the Nuvama report said.

Drug maker Granules India reported a marginal rise in third-quarter profit on Tuesday, helped by easing raw material costs.

Margins for the third quarter are likely to expand on a QoQ basis, due to the reshuffling of the portfolio. Analysts expect the deal wins to remain muted due to weak macro and slow decision-making.

The dollar index was lower at 103.25 while most Asian currencies gained. The Japanese yen was up nearly 0.2% after the Bank of Japan maintained its ultra-easy monetary settings on Tuesday but gave hints that the policy might be tweaked at its next meeting.

Abhishek Bhardwaj of Green Lantern Capital, states that India will continue to have high energy demand due to factors such as focus on manufacturing, which is more energy-intensive than the services sector. He also highlights that newer industries like AI-driven data centers contribute to this energy demand. Bhardwaj believes that the market is currently trading at an expensive valuation and faces challenges in sectors with high ownership and expectations, such as HDFC Bank. However, he sees opportunities in the engineering and capital goods space, particularly in companies supporting power reforms.

The SME IPO of electrical EPC services company Konstelec Engineers was subscribed 105 times so far on the second day of the bidding process. The issue was booked 181 times in the retail category, and 86 times in the NII portion.

Mutual fund investors should consider sector funds or thematic funds in light of upcoming budget and elections. However, timing is crucial when investing in sector funds. Sector funds focus on specific sectors, while thematic funds encompass multiple sectors under a common theme. Diversified funds, on the other hand, cover a range of sectors. In terms of performance, diversified funds have a higher probability of beating the benchmark compared to sector funds. They also tend to provide more flexibility and active management