Thursday, June 29, 2023

TCS, ICICI Securities, BPCL, Adani Enterprises, SBI Life









The Nifty futures contract traded on the Singapore Exchange indicates a positive start to domestic equities. The contract was trading at 19,191, up 105 points or 0.55% from the previous close.

Here's a slew of stocks that will be in focus today for various reasons


HDFC Life
Promoter company Housing Development Finance Corp (HDFC) has further bought 0.77% stake in its subsidiary HDFC Life through bulk deals on Wednesday.

Advanced Enzyme Tech
Promoter entity Advanced Vital Enzymes Pvt Ltd has sold partial stake in Advanced Enzyme Technologies through bulk deals on Wednesday.

TCS
Tata Consultancy Services (TCS) has banned six employees and six business associate firms for violating ..

BPCL
State-owned Bharat Petroleum Corporation Ltd (BPCL) has received board’s approval to raise up to Rs 18,000 crore through rights issue of shares to eligible shareholders.
Adani Enterprises
In a Rs 4,140 crore bulk deal, SB Adani Family Trust sold 1.8 crore shares of Adani Enterprises at Rs 2,300.

SBI Life
The Board of SBI Life has approved the re-appointment of Mahesh Kumar Sharma as MD and CEO of the company

Power Grid
The Committee of Directors of Power Grid have approved three proposals of investments worth over Rs 300 crore.

Canara Bank
The Board of Directors  ..


#financial #financial #stock #stock
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Tuesday, June 27, 2023

ET MSME Regional Summit: Hyderabad edition to spotlight strategies for empowering Telangana's MSME ecosystem for growth and innovation


Telangana's Micro, Small, and Medium Enterprises (MSMEs) forms the cornerstone of its robust economy, showcasing a visionary approach towards fostering entrepreneurship. With a staggering 2.6 million MSMEs, the state is a thriving hub of diverse industries, playing a vital role in employment generation, industrial growth, and overall economic development.

From traditional craftsmanship in textiles, handicrafts, and food processing to cutting-edge sectors like IT, biotechnology, and pharm ..

In this backdrop, the EconomicTimes.com is organising the next edition of the ET Make in India - MSME Regional Summit in Hyderabad on June 24 at Anvaya Conventions, Gachibowli, Telangana to bring together local MSME leaders, entrepreneurs and policymakers to highlight the most pertinent developments in the state's MSME sector and spotlight the unique challenges and growth opportunities faced by them.

Register Now for ET Make in India: MSME Regional Summits Hyderabad Edition | June 24

With a focus on the transformative potential of MSMEs, the summit will provide a platform for insightful discussions, innovative ideas, and collaborative solutions to propel the growth of Tamil Nadu's MSMEs. Rajkumar Ohatker, Additional Commissioner Industries, Govt of Telangana will be giving the opening keynote address at the summit which will be followed by a series of talks, panel discussion, and mast ..

The key themes in focus at the Hyderabad edition of the ET Make in India MSME Regional Summits are promoting policies and initiatives for MSME growth, streamlining financial management and unlocking growth opportunities, enhancing ease of doing business, understanding risk management and financial tools, unlocking MSME growth potential and unveiling strategies for global growth.

The Hyderabad edition of the MSME Regional Summit is presented in partnership with Aurobindo realty as Present ..

ET MSME Regional Summit - Hyderabad: Key themes and Speakers
Here’s a glimpse into the key sessions, themes and speakers expected at the Hyderabad edition of the ET Make in India MSME Regional Summits that will be held at Anvaya Conventions, Gachibowli, Telangana.
Rajkumar Ohatker, Additional Commissioner Industries, Govt of Telangana will be giving the inaugural keynote address a ..

R. Veerabhadra Rao, Deputy General Manager, NSIC-Balanagar, Telangana, will shed light on how NSIC is actively supporting MSMEs in unlocking their growth potential. He will elaborate on the various programs, initiatives, and resources provided by NSIC to empower and enable MSMEs for success. Rao will also delve into the different ways in which NSIC assists MSMEs in areas such as finance, technology, ..

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Sunday, June 25, 2023

Open agri network Samunnati eyeing over 50 pc growth in revenue at Rs 6,600 cr in FY24

 Mumbai: Open agri network Samunnati is eyeing over 50 per cent growth in revenue at Rs 6,600 crore in 2023-24, on the back of deepening its reach in both its verticals - agri finance and market linkage businesses, a top company executive said on Saturday. The company has clocked an overall Rs 4,400 crore revenue in 2022-23.


"We are present in 23 states but the bulk of our business is mostly in states including Andhra Pradesh, Tamil Nadu, Karnataka, Telangana, Madhya Pradesh, Maharashtra, ..




"We are planning to deepen our client engagement in all 23 states offering both short-term loans to FPOs as well as providing them with market linkages. With this expansion we expect to clock Rs 6,600 crore revenue in this financial year," Samunnati founder and CEO Anil Kumar SG told PTI.
Currently, Samunnati has around 5,500 FPOs registered on its platform, 50 per cent of which are borrowers while most avail the market linkage offering of the company, he said.

Explaining further, Kumar said the company provides short term loans to Farmer Producer Organisations (FPOs) to provide working capital solutions procure from farmers.

While the market linkage business is usually availed by FPOs before ..

 
#finance #finance
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Thursday, June 22, 2023

Eros International, Vedanta, Paytm, PNB Housing Finance and more

 


The equity market ended lower on Thursday amid weak global cues. Sensex dropped 284.26 points to settle at 63,238.89 while Nifty50 shed 85.60 points to end the day at 18,771.25, BSE midcap and smallcap indices dropped about a per cent each.

Here’s a look at stocks that are likely to remain in news today.

Eros International

Shares of Eros International Media Ltd are in focus today after market regulator Securities and Exchange Board of India (Sebi) barred Eros International Media CEO Pradeep Kumar Dwivedi from the securities market until further notice for allegedly breaching trade practice regulations. Sebi has also barred Vice Chairman and Managing Director Sunil Arjan Lulla from holding any directorial position in any listed company, including Eros International.

Coforge

Coforge has acquired the final tranche shares of balance 20% in Coforge Business Process Solutions aggregating its shareholding to 80%.

LIC Housing Finance

Tribhuwan Adhikari has been appointed as Chief Operating Officer of the company.

PNB Housing Finance

The Board of PNB Housing Finance has cleared issuance of NCDs in tranches aggregating up to Rs 5,000 crore on a private placement basis

Vedanta

Vedanta has clarified on the news reports related to sale of sterlite copper plant in Thoothukudi. The company said the reports are wrong, baseless and incorrect.

L&T

The construction conglomerate has signed a pact with the Defence Research and Development Organisation (DRDO) for realisation of two air-independent propulsion (AIP) modules for the Kalvari class of submarines of the Indian Navy.

Fortis Healthcare

The company has inked definitive agreements to sell its hospital business operations at Vadapalani, Chennai to Sri Kauvery Medical Care (India), for a sale consideration of Rs 152 crore.

Paytm

The company has inked an MoU with Arunachal Pradesh Innovation and Investment Park (APIIP) to create a startup ecosystem for the youth in the state. The Paytm Incubation Centre, according to the MoU, would provide products to early-age startups at a discounted price.

#financial #financial

4th Edition of International Conference on Accounting and Financial Management

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Tuesday, June 20, 2023

Shriram Finance, Archean Chemicals, HDFC, RVNL, Airtel

 The Nifty futures contract traded on the Singapore Exchange indicates a muted start to domestic equities. The contract was trading at 18,873.50, down 7.5 points or 0.04% from the previous close.


Here's a slew of stocks that will be in focus today for various reasons


#finance #finance 
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Wednesday, June 14, 2023

Stocks To Watch: Axis Bank, Dilip Buildcon, Mahindra & Mahindra, SJVN, Indian Overseas Bank




Stocks in focus: The SGX Nifty recorded a loss of 0.05% during Thursday’s early trading session, with a value of 18,826 indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. On Wednesday, continuing their upward momentum for the third day, the domestic indices NSE Nifty 50 and BSE Sensex recorded gains, ending the day in positive territory. Nifty 50 rose 0.21% to 18,756 and BSE Sensex gained 85 points to 63,228.

“The domestic indices rebounded after an initial phase of profit booking, driven by encouraging WPI inflation data and positive global cues, while selling in IT and banking stocks kept a check on gains. The favourable decline in US inflation, driven by lower energy prices, and speculation about a potential pause in the Fed rate hike campaign, brought comfort to global equities. However, the persistence of higher core inflation levels may compel the Fed to maintain its hawkish tone during today’s policy announcement with indication of a prolonged pause,” said Vinod Nair, Head of Research, Geojit Financial Services.

Stocks to Watch on 15 June, 2023

Axis Bank

Reports suggested that private equity major Bain will offload its stake in Axis Bank, garnering around $267 million for their 1.3% stake. 

SJVN

SJVN signed a memorandum of understanding (MoU) with the  Maharashtra State Power Generation Company for the development of 5,000 MW of renewable energy projects in the state. 

Indian Overseas Bank

The lender’s Asset Liability Management Committee reviewed the base rate workings, following which they decided to increase the base rate by 20 bps to 9.10% from the existing 8.90%. This new rate will come into effect from 15 June..

Mahindra & Mahindra

Furies Solren has been incorporated by Mahindra Susten, which is a subsidiary of Mahindra Holdings, which in turn is a subsidiary of M&M. MSPL has incorporated Furies for production and sale of Power and Generating Electricity, Distributed Energy including rooftop solar installation for commercial, industrial, institutional and residential segment.

Dilip Buildcon

Dilip Buildcon announced that its subsidiary DBL Chandikhole Bhadrak Highways completed the project “Rehabilitation and Up-gradation to Six-Laning of Chandikhole-Bhadrak. The company has received the letter of Completion Certificate from the authority for the project worth Rs 1,522 crore.

#stockmarket #stockmarket

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Monday, June 12, 2023

RBI permits banks to undertake compromise settlement of wilful defaults, fraud accounts

 




In order to ensure maximum recovery from distressed assets, the Reserve Bank of India has allowed banks to go for compromise settlement of fraud accounts and wilful defaults.

All regulated entities (REs) will be required to put in place board-approved policies for undertaking compromise settlements, with the borrowers as well as for technical write-offs laying down the process to be followed for all compromise settlements and technical write-offs, with specific guidance on the necessary conditions precedent, the RBI has said in a notification.

The policies would also put in place a graded framework for the examination of staff accountability in such cases with reasonable thresholds and timelines as may be decided by the board. REs may undertake compromise settlements or technical write-offs in respect of accounts categorised as wilful defaulters or fraud without prejudice to the criminal proceeding underway against such debtors.

“In respect of compromise settlements, the policy shall inter alia contain provisions relating to permissible sacrifice for various categories of exposures while arriving at the settlement amount, after prudently reckoning the current realisable value of security/collateral, where available,” as per the notification.

The methodology for arriving at the realisable value of the security shall also form part of the policy.

The objective would be to maximise the possible recovery from a distressed borrower at minimum expense, in the best interest of the Regulated Entity (RE).

“The compromise settlements and technical write-offs would be without prejudice to any mutually agreed contractual provisions between the RE and the borrower relating to future contingent realisations or recovery by the RE, subject to such claims not being recognised in any manner on the balance sheet of REs at the time of the settlement or subsequently till actual realisation of such receivables,” it said.

Any such claims recognised on the balance sheet of the RE would render the arrangement to be treated as restructured as per the extant guidelines, it added.

In respect of borrowers subject to compromise settlements, the notification said, there would be a cooling period as determined by the respective board-approved policies before the REs can assume fresh exposures to such borrowers.

The cooling period in respect of exposures other than farm credit exposures would be subject to a floor of 12 months.

However, it said, REs are free to stipulate higher cooling periods in terms of their Board approved policies. The cooling period for farm credit exposures would be determined by the REs as per their respective Board approved policies. 

#banking #banking #news #news

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Global Fintech Fest 2023: IRDAI exploring flexible, do-it-yourself insurance products, says Chairperson Debasish Panda

  During his address at the Global Fintech Fest 2023, Insurance Regulatory and Development Authority of India (IRDAI) Chairperson Debasish P...