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Mahindra Financial to raise Rs. 15,000 Crore via Bond Sales

1May By Lavina TolaniNo Comments

Market

Mahindra Financial to raise Rs. 15,000 Crore via Bond Sales

Mahindra and Mahindra Financial Services Ltd. are looking to raise Rs. 10,000-15,000 crore this fiscal year via multiple routes including a bond sale, informed Ramesh G.Iyer, company's vice chairman and managing director on Monday. Mahindra Financial is expecting Rs. 24,000 to come from the repayment of loans. The balance has been strategized to raise from the sale of bonds, banks, and financial institutions. The company is looking forward to injecting fresh capital that could reinforce lending to Rs. 35,000-37,000 crore this year, Iyer informed. The company’s shareholders have already cleared an enabling resolution to raise up to Rs. 40,000 crore and the rural non-banking finance firm has plans to raise up to $300 million from rupee-denominated offshore debt instruments. Iyer ...

TCS Becomes India’s First $100 Billion Company

23Apr By Lavina TolaniNo Comments

Market

TCS Becomes India’s First $100 Billion Company

India's largest IT giant, TCS has now become the country's most valued firm in terms of market capitalization as it market cap crossed the crucial USD 100 billion mark ( approximately Rs. 6.60 lakh crore) on Monday. The company has successfully superseeded Accenture's market cap which was at USD 98 billion. TCS's market cap now stands at the zenith and exceeds more than that of all other IT companies together. The company had become a USD 25 billion backed firms in 2010 and has never looked back since. It successfully crossed the USD 50 billion mark in 2013, followed by the USD 75 billion mark in 2004. The upsurge in IT major's script fortune has come just after it recorded a rise of 4.5 percent in Q4 profit. To recap, In the firs...

Best Penny and Small Cap Stocks To Buy in 2018

22Apr By Lavina TolaniNo Comments

Market

Best Penny and Small Cap Stocks To Buy in 2018

If you are an active share market investor in India, chances are there that at least at some point of time in your share/trading career you would have coaxed yourself into buying a stock that is trading at a very low price, say Rs. 10 or Rs. 20? The decision of buying such a low stock also called "penny stocks" would definitely not crop after a rational or judicious analysis of share market, rather would arise from an emotional perspective such as something like-" The stock is any way trading so low, how long can it go from here"? "Act Like an Investor, Not a Trader" While dealing with penny stocks it is important to think for investment for a longer term and not solely focusing on short-term profits. This is perhaps the very reason why stock market gurus never look at the market price of...

TCS Records Highest Q4 Performance, Rewarded 1:1 Bonus Share

20Apr By Lavina TolaniNo Comments

Market

TCS Records Highest Q4 Performance, Rewarded 1:1 Bonus Share

Country's largest IT firm, Tata Consultancy Services March Quarter(Q4) earnings reported a stellar performance on Thursday beating all expectations that analysts had estimated both on revenue and profitability. This double-digit growth quarter has come after the backdrop of 13 straight quarters of underperformance and the board members of Mumbai based company immediately rewarded shareholders with one on one bonus issue establishing the final dividend of Rs. 29 per share. The Mumbai based IT giant has posted a consolidated profit at Rs. 6,904 crores for Q4 quarter registering a 5.7 percent growth as compared to 4.5 percent (Rs. 6531 crores for the previous quarter) in the previous year. The Tata Group firm has reported a consolidated profit at Rs 6,904 cr...

LIC Marks Record Breaking Profit Booking of Rs 25000 in FY18

17Apr By Lavina TolaniNo Comments

Market

LIC Marks Record Breaking Profit Booking of Rs 25000 in FY18

Indian state-owned insurance and investment company, Life Corporation of India has booked record equity trading profits of Rs. 25,000 crore in 2017-18, much above Rs. 19,000 crores a year ago as informed by sources. LIC is known to adhere equity assets including mutual funds and shares worth Rs. 5 trillion (until the end of December) and profits approximately 5% of assets under management. Meanwhile, the company is working on its annual accounts, the same will be published in May. "The stock market has mostly been resilient in the past year and LIC has managed to get enough selling opportunities", reported a source on the promise of anonymity. Record-breaking profit from LIC is signaling a positive message if the insurer enhances its market exposure at the same time. This will ...

India’s V-Mart Turns Out World’s Best Performing Departmental Store Chain

14Apr By Lavina TolaniNo Comments

Market

India’s V-Mart Turns Out World’s Best Performing Departmental Store Chain

The attraction for Indian consumer market has been on the rise. Jefferies India Pvt Ltd. has now joined in the chorus for showing a successful growth as a producer of staples and branded goods. It has picked up in a sector that comprises V-Mart Retail Ltd, a company whose stock market has performed outstandingly making it world's best department store chain this year, as per market sources. Shares of V-Mart have risen by 10 times as much since they were first traded in the stock market in February 2013.Company's shares are up by 47% -highest among 105 department stores globally with a minimum market value of $200 million. Tanmay Sharma, Jefferies Analyst wrote in a note, Given the limited barriers to entry and widespread competition, V-Mart's strong business model in te...

Jack Ma’s Ant Financial to Raise $9B Ahead of IPO, Become World’s Biggest Unicorn

11Apr By Lavina TolaniNo Comments

Market

Jack Ma’s Ant Financial to Raise $9B Ahead of IPO, Become World’s Biggest Unicorn

Chinese billionaire Jack Ma's financial firm is all set to make it to the world's biggest companies. Alibaba Group Holding Ltd's derivate company, Ants Financial Group is preparing to raise $9 billion which is much above its expected IPO in a private funding round as per the sources. Being no stranger to funding, the company picked $4.5 billion Series B round in April 2016. Moreover, it has also made in some strategic acquisitions and investments to pave a way for greater financial benefits for itself. It has already acquired HelloPay and has made investments into Korea's Kakao Pay in February 2017. Company's recent attempt to acquire Moneygram early this year was knocked down by U.S government over security concerns.It's expected IPO valuation and newly earned revenue can give a muc...

9Apr By Lavina TolaniNo Comments

Market

Lemon Tree Hotels Lists 10 percent Premium on Market Debut

Lemon Tree Hotels listed to make its market debut today opened on a decent note with a script listing of Rs.61.60 on the BSE, accounting for 10 percent premium over the issue price of Rs.56. As per data from National Stock Exchange (NSE), initial public offering (IPO) received bids for 15.49 crore shares and was subscribed over 1.19 times from a period extending 26 March 2018 to 28 March 2018. The price spectrum for the stocks was fixed at Rs. 56 per share. This hospitality chain and hotel group are considered to be India's largest chain in the mid-priced sector within hotel market while it is third largest overall. Lemon Tree hotels have already raised 311 crores from anchor investors. The public issue is being raised to achieve the benefits of equity share on stock exchanges. ...

Spotify Shares Open at $165.9 after unusual debut listing on NYSE

5Apr By Lavina TolaniNo Comments

Market

Spotify Shares Open at $165.9 after unusual debut listing on NYSE

Spotify Technologies shares went high and opened at $165.9 on Monday, which was nearly 26 percent above the reference point of $132 on its first day of trading.With an overall valuation of $165.9 billion on the first day, the estimation went a slightly higher than what analysts had predicted before the listing. During the first two months of 2018, the shares of world's leading music streaming service, Spotify, were traded between $90 and $132.5.While, in 2017, the range was even wider from $37.50 to $125.00. As per sources from Wallstreet Journal, Spotify's opening has turned out to be a record on New York Stock Exchange listing before which "Alibaba had opened at 11.53 am" on Tuesday. Spotify's unconventional move to direct listing has created a lot of talks in the share market s...

ICICI shares plunge in the midst of Videocon Loan Row

3Apr By Lavina TolaniNo Comments

Market

ICICI shares plunge in the midst of Videocon Loan Row

India's leading private multinational bank, ICICI had its shares drop considerably by 7 percent on the first trading day of the financial year 2018-19 right after Central Bureau of Investigation(CBI) imposed an inquiry relating to the loan sanctioned to Videocon Group. After a close at Rs. 261.9 and down by 5.93 percent on BSE from the highest price since August 24, 2015, ICICI Bank market evaluation has worn down to Rs. 1.68 million on the BSE. As per the reports, CBI is probing actively on verifying allegations of corruption and looking into a possible nexus between Venugopal Dhoot, Chairman Videocon Group and Chanda Kochar's husband, Deepak Kochhar. ICICI bank also declared reports of conflict " malicious and unfounded" completely denying Kochar's favor recommendations to the agglome...

SBI Increases Interest rates on Fixed Deposits

29Mar By Lavina TolaniNo Comments

Market

SBI Increases Interest rates on Fixed Deposits

The largest public lending organisation in the country ,State Bank of India (SBI) has brought in a bundle of good news for investors as it has hiked interest rates on fixed deposits with different maturity tenures starting from 2 to 10 years. The new interest rate bracket for SBI fixed deposits ranges between 6.6 and 6.75 percent.For fixed deposits under Rs. 1 crore subjected for two-three years tenure, the new rate has been changed to 6.60% from earlier 6.50%.On similar lines, term deposits ranging between 3 to 5 years can now be availed at 6.70% interest than existing 6.50% People who are looking for long term investment i.e for 5 to 10 years, will now be able to avail interest rates of 6.75% from 6.50%.However,no change has been made for fixed deposits ranging from 7 days to 2 yea...

27Mar By AnkitaNo Comments

Market

Bandhan Bank Shares Up 33% on Market Debut

India's Bandhan Bank surging 33 percent against the issue price of Rs 375 on the first day of its debut. At the end of the day, the stock listed at Rs 477 on BSE and 476 on NSE. The stock has a sharp gain of 29.33 and 33 percent from the issue price on BSE & NSE. The Kolkata based company has a market valuation of Rs 56,914.69 crore. The IPO of Bandhan bank was subscribed 14.62 times during its listings. The fixed price of the company share was Rs 370 to 375 during the listing. The issue opened on March 15 and continued till March 19. Goldman Sachs (India) Securities, JM Financial and JP Morgan India, Kotak Mahindra Capital Company and others managed the issue. The bank proposed to raise Rs 4500 crore from the IPO. The network of the bank has grown to 864 bank branches a...