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Bandhan Bank Records 47.5% rise in Q1 Net Profit On Higher Interest

19Jul By Gauri SinghNo Comments

Market

Bandhan Bank Records 47.5% rise in Q1 Net Profit On Higher Interest

Bandhan Bank Ltd witnessed a powerful rise of 47.5% to Rs 481 crore in its quarterly profit because of the higher other income and net interest income. The shares of the bank rose to a record as its quarterly profit increased and asset quality remained stable. Along with this, the net interest income, or the core income of the bank, rose 40% to Rs 1,037 crore. In the previous quarter, the Kolkata-based bank posted a net profit of Rs 327 crore. Gross bad loans as a percentage of total loans were recorded at 1.26% in this quarter, in comparison with 1.25% in the previous quarter and 0.93% a year ago. “The start of FY19 has been promising with advances growing year-on-year by 52%, overcoming the seasonality we normally witness during the first quarter. We will strive to maintain growth an...

Social Commerce Platform Sagoon to Launch Mini-IPO Offering

18Jul By Gauri SinghNo Comments

Market

Social Commerce Platform Sagoon to Launch Mini-IPO Offering

The social commerce platform Sagoon has reportedly announced that it will be closing its successful mini-IPO (equity crowdfunding). The mini-IPO will be offered on 26th July 2018. The investors that might be interested in buying the shares of the company can buy it until the midnight of 26th July. The mini-IPO had been launched in 2017 at $23 per share with a minimum investment of $1,000 and was offering Class C common stock. Since then, the company raised about $4 million from over 3,500 global investors who share Sagoon’s vision of a social commerce platform that helps users to Connect, Share, and Earn. Apart from this, it also raised around $5 million from a strategic partnership. “We are so thankful for the support we have received from our investors and partners who share our v...

Sachin Tendulkar Backed Smaaash Entertainment Expects to Raise Millions From IPO

18Jul By Gauri SinghNo Comments

Market

Sachin Tendulkar Backed Smaaash Entertainment Expects to Raise Millions From IPO

A virtual gaming firm Smaaash Entertainment that was backed by Sachin Tendulkar is expected to launch its initial public offering (IPO) by the end of this year in December 2018. The company has anticipated an amount of about $72 million (Rs 500 Cr) from its IPO. According to the reports, in the financial year 2017, Smaaash’s operating revenue closely doubled to $16 million (Rs 103.26 Crore), and along with this its losses also increased by around 33% to $5 million (Rs 32.8 Crore). The funds acquired by the initial public offering will be utilized the purpose of inorganic growth initiatives, repay part of its debt and for the requirements of its working capital. The company was founded in 2012 by film director and producer Shripal Morakhia. Smaaash is a gaming arcade operator with ...

5 Best Mutual Funds To Invest in For Long Term Benefits

16Jul By Gauri SinghNo Comments

Market

5 Best Mutual Funds To Invest in For Long Term Benefits

A mutual fund is an investment fund where the many investors pool their money for the purpose of investing in securities including stocks, bonds, money market instruments and other assets. Since the money is pooled up, it is called a mutual fund. These investors may be retail or institutional in nature. There are various kinds of mutual funds that one can invest in for long-term benefits. Today, we will talk about the five best mutual funds that may be beneficial for the investors. 1) Money market funds The money market funds are comprised of safe short-term debt instruments that generally include Treasury bills. This is a safe place where the investor can put in their money. The people won't get considerable returns, but they won't have to worry about losing their...

This Indian Bank Becomes First to Use Facebook Messenger For Mutual Fund Transactions

11Jul By NitishNo Comments

Market

This Indian Bank Becomes First to Use Facebook Messenger For Mutual Fund Transactions

India's largest private sector bank HDFC becomes the first Indian bank which offer mutual fund transactions through Facebook Messenger. HDFC securities, a subsidiary of HDFC Bank launch a theme called "The Pace of Innovation" which is structured to innovate and provide intuitive and relevant digital solutions to customers and this effort, is in line with the vision. This particular feature, apart from mutual fund investments, facilitates a quick overview of total portfolio holding, getting the latest stock quotes and opening an account. ALSO READ: After Tata Group, HDFC Crosses Market Cap of Rs 10 Trillion Here's a guide to how this works: -Go to Facebook Messenger and search for hdfcsec.Arya -Can open a trading account -Post login, one can complete MF transactio...

11Jul By Gauri SinghNo Comments

Market

After Tata Group, HDFC Crosses Market Cap of Rs 10 Trillion

HDFC (Housing Development Finance Corporation), which is led by Deepak Parekh has crossed the milestone of market capitalization amounting to Rs 10 trillion. This has marked the company as the second Indian business house after the Tata group to achieve this milestone. This news comes a few days after Deepak Parekh announced his views regarding the succession plan. The company at present has four listed ventures, that are Housing Finance Development Corp. Ltd, HDFC Bank Ltd, life insurance firm HDFC Standard Life Ltd and Gruh Finance Ltd. Whereas, the Tata Group has moreover 30 firms listed on the stock exchange. At the close of trade, the HDFC’s market valuation was at Rs 5,59,633.53 crore, HDFC Ltd was Rs 3,26,776.81 crore, HDFC Standard Life Insurance Company at Rs 95,936.72 crore...

News of the Day: BSE Postpones The Launch of Its Startup Platform

10Jul By Gauri SinghNo Comments

Market

News of the Day: BSE Postpones The Launch of Its Startup Platform

The Bombay Stock Exchange has reportedly postponed the launch of its new platform under BSE SME which was focused on listing startups. The launch was earlier scheduled on 9th of July but could not be taken forward. However, the reason for the same has not been disclosed yet. BSE was launching the platform for the basic purpose of listing fresh companies in sectors like IT, ITES, biotechnology and life sciences, 3D printing, space technology and e-commerce to give a boost to startups. "BSE has decided to postpone the split of the BSE startup sub-segment from BSE SME segment. Startups will continue to list on BSE SME segment as usual. These startups will have the option to migrate to BSE startup segment once BSE startup segment is launched," BSE said in a circular. The officials from th...

Online Startups That Are Listed Under Stock Exchange

9Jul By Gauri SinghNo Comments

Market

Online Startups That Are Listed Under Stock Exchange

What is the stock exchange? In simple words, stock exchange refers to an organized market in which securities are bought and sold. If we go into the detailed description, the prices at which these securities are bought and sold are regulated by the forces of demand and supply. The stock exchange basically is an investment intermediary for corporations, governments, municipalities, and other incorporated bodies where they can raise capital by channeling savings of the investors in various productive ventures. The other purpose served by the stock exchange is that the investors can sell their securities to other investors for cash. These exchanges impose various rules and regulations on the firms and brokers that are involved with them. If a particular company is traded on an exchange,...

Despite of Data Controversy, Facebook Stock Closes All Time High

7Jul By PriyankaNo Comments

Market

Despite of Data Controversy, Facebook Stock Closes All Time High

The social media giant Facebook stock closes at an all-time record high of USD 203.23. Despite Cambridge Analytica data scam controversy, Facebook is still fetching a good number of returns. Investors are loving the social network more than ever that saw its stocks dipping earlier in 2018 after the scam controversy hits. Facebook revenue projections for 2020 at USD 87.5 billion. The firm currently has Facebook with a buy rating and a price target of $275. "Messenger has been deploying more ads in recent weeks and should be “highly material” to profits. And Instagram has reached 1 billion monthly active users," the company said today. ALSO READ: Online Startup SaleBhai Received BSE Approval for SME IPO After grabbing attention in 2012, Facebook has seen its stock rise...

IndiaMart Successfully Plans An IPO: Offers Millions of Shares

4Jul By Gauri SinghNo Comments

Market

IndiaMart Successfully Plans An IPO: Offers Millions of Shares

Indian e-commerce company ‘IndiaMart’ has confirmed that it is going to issue an initial public offering (IPO) very soon. The company had filed its draft papers recently to SEBI (Securities and Exchange Board of India). The online company will start the process of IPO in the next financial year. It is a Noida-based company and will offer up to 4.28 million shares through its offer for sale. The promoters and investors will also sell a proportion of their stakes in the venture. “We will go for IPO soon. Basically, we are not in need to raise external money but we want to give an exit route to existing investors. Most of the equity sale will happen in secondary market,” said Dinesh Agarwal, Indiamart founder and CEO. According to the reports, the company’s investors will sell 2.07 Mn sh...

Indian Stock Exchange BSE Will Delist 222 Companies Tomorrow

3Jul By AdityaNo Comments

Market

Indian Stock Exchange BSE Will Delist 222 Companies Tomorrow

Mumbai based stock exchange BSE planning to delist as many as 222 companies from tomorrow. The trading of these shares has remained suspended for next six months. The reason behind this move is clamping down on shell companies listed as well as unlisted for being allegedly used as conduits for illicit fund flows. In August last year, Sebi had directed exchanges to act against 331 suspected shell companies, while the government has already deregistered more than 2 lakh firms that have not been carrying out business activities for long. In a circular, the BSE said, "210 companies that have remained suspended for more than six months would be delisted from the platform of the exchange, with effect from July 4, 2018, pursuant to an order of the delisting committee of the exchange". Furth...

Online Startup SaleBhai Received BSE Approval for SME IPO

3Jul By AnkitaNo Comments

Market

Online Startup SaleBhai Received BSE Approval for SME IPO

New Delhi, 3rd July, 2018: B2C e-commerce company SaleBhai Internet Limited, the owner and operator of SaleBhai.com have received BSE approval for its Initial Public Offering (IPO) on SME Platform of BSE. The company had filed a Draft Prospectus (DP) with BSE for listing on the SME platform of BSE Ltd on May 17, 2018, and has now received in-principle approval from BSE. BSE’s approval means that the Ahmedabad-based E-commerce startup will be the first to raise money through public route at such an early stage. Salebhai had already received funding and support from 71 high net worth individuals. This interest from existing customers propelled the company to raise money from the general public through an IPO. Commenting on the IPO, Vishwavijay Singh, Co-Founder, SaleBhai, said, “We ...