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Novelis Inc, a part of Hindalco, plans to raise USD 750 million through bonds. The proceeds will be used to repay USD 738 million of debt and to fund their balance sheet. Novelis reported a decline in net income for the September quarter, but net sales rose due to higher aluminum prices and increased shipments.

ASCF–III will focus on secured credit transactions for operating and holding companies, with a few investments in hybrid structures tailored to deal requirements. Aiming for a gross portfolio IRR of 16%-18%, the sector-agnostic fund will invest in industries such as pharmaceuticals, healthcare, manufacturing, consumer, chemicals, technology, and B2B businesses.

The stock traded at a P/E multiple of 5.45, while the price-to-book value ratio stood at 1.27.

Bajaj Auto share price has risen by 25.15% over the past year, but has dropped by around 7% in the last 6 months. In the past 3 months, the stock has fallen by 24.9%, and in the last month, it has declined by 2.1%.

On January 9, five stocks experienced long unwinding: L&T Finance, SBI Card, PB Fintech, Vedanta, and Naukri, with notable declines in stock prices and open interest.

Bitcoin continued to decline over 2% to $94,357 as strong U.S. economic data indicated fewer rate cuts by the Fed in 2025. Rising U.S. Treasury yields and a stronger Dollar also pressured Bitcoin. The global crypto market cap fell by 1.73% to $3.31 trillion.

A total of 107,590 shares changed hands on the counter till time (IST).

​So, on the pricing front, we remain very conservative. We do not expect prices to significantly improve. We believe the prices will improve, but 2% to 3% YoY largely in line with WPI.

The Relative Strength Index of the stock stood at 51.54 on Thursday.

As of 30-Sep-2024, promoters held 0.0 per cent stake in the company, while FIIs held 17.5 per cent and domestic institutional investors had 17.51 per cent.