Latest Stock Market News

Significantly RBI data indicates a surge under all major heads of eligible transactions. But Spends on overseas travel which accounts for over half of LRS or liberalised remittances scheme rose 50 percent in May to $1.5 billion.

Overall bank borrowings stood at a whopping Rs 8.2 lakh crore as on July 14, a day after the record date for the merger, the latest data published by the Reserve Bank of India (RBI) showed. This is Rs 2.7 lakh crore higher than the previous record high posted on October 21, 2022.

Nirma Group is likely to acquire an 82.84% stake in Glenmark Life Sciences in a deal worth INR 6,664 to INR 7,000 crore. The company has emerged as the sole bidder following the deadline last week, with the acquisition likely to be facilitated by healthcare subsidiary Aculife Healthcare.

Reliance Capital is undergoing in-court restructuring and the creditors have approved a resolution plan of ₹9,660 crore offered by Hinduja Group company IndusInd International Holdings. Its committee of creditors earlier this month approved a proposal to invest in the insurance unit to help maintain its market share and step up growth, as reported by ET on July 20.

The recent performance of the Sensex, BSE Mid Cap, and BSE Small Cap indices since the Covid fear peak in April 2020 sheds light on this investor behaviour. While the Sensex returned a respectable 33%, the BSE Mid Cap outperformed at 42%, but it was the BSE Small Cap that gave an astounding 53% return.

We have spoken to the other shareholders and advised the respective management in these subsidiaries to prepare a road map for listing.

State-owned power producer NTPC reported a 9% rise in net profit to Rs 4,066 crore in Q1. Revenue from operations, however, declined 2% YoY to Rs 39,122 crore.

As Ambani’s Jio Financial and US-based BlackRock, the world’s largest asset manager, team up to take on India’s asset management industry’s well-entrenched incumbents, corporate watchers are wondering whether this is the Jio Moment for the asset management space. While the scope for Jio BlackRock is immense, it will require more than just repeating the playbook Reliance used in telecom and retail to replicate that success.

Several measures of financial conditions, including those produced by the central bank, have shifted in way that signals reduced restraint on the economy, at a time when central bank officials believe more work may be needed to lower inflation.

Forms working group under industry veterans to find ways to encourage fund flows while also protecting investors.