A naukri.com initiative
Funding News
Bloomberg Quint
2d
7
Image Credit: Bloomberg Quint
India Widens Global Funds’ Access To $639 Billion Credit Market
- India has expanded foreign investors' access to its $639 billion credit market by allowing global banks like HSBC Holdings and Standard Chartered to offer total return swaps for corporate bonds.
- These total return swaps enable investors to gain exposure to India without the need to open a domestic account, attracting significant inflows into the nation's sovereign debt market since its inclusion in global bond indexes.
- The approval for swaps is currently limited to onshore rupee debt, but there is increasing demand to offer these derivatives for dollar bonds from companies in GIFT City.
- The move is seen as a way to further boost India's credit market growth, with increased interest from investors globally in accessing Indian assets through total return swaps.
Read Full Article
Like
Bloomberg Quint
2d
316
Image Credit: Bloomberg Quint
Multibagger PSU IREDA Share Price Cracks 6% After Q1 Net Profit Slumps 36% YoY; Stock Down 25% YTD
- IREDA shares slumped over 6% after reporting a 36% decline in net profit during the June quarter.
- The company's net profit dropped to Rs 247 crore from Rs 384 crore in the year-ago period.
- On Friday, IREDA's share price opened 5% lower and extended losses to 6% at Rs 159.80 intraday.
- With the stock down 25% year-to-date, this is a developing story with updates to follow.
Read Full Article
14 Likes
Bloomberg Quint
2d
15
Image Credit: Bloomberg Quint
India Doubles Proposed Retaliatory Duties On Steel, Aluminium Against US At WTO
- India has doubled its proposed retaliatory duties against the US at the World Trade Organization in response to increased tariffs on steel and aluminium by the Trump administration.
- India's move aims to recover about $3.8 billion in duties, doubling its proposed duties after the US doubled its tariffs to 50% in June.
- This posturing at the WTO coincides with fresh negotiations for a bilateral trade agreement between India and the US, with a tariff pause date now set for August 1.
- The first rounds of negotiations did not result in a deal by the July 9 deadline, and both sides are now looking to reach an agreement within the next 20 days.
Read Full Article
Like
Bloomberg Quint
2d
560
Image Credit: Bloomberg Quint
Anthem Biosciences IPO GMP In Focus As Mainboard Issue Opens Next Week — Check Key Details
- Anthem Biosciences is set to launch its IPO next week to raise over Rs 3,000 crore from the primary market.
- The IPO price band is set between Rs 540 and Rs 570 per share, with details on lot sizes and participation requirements provided.
- Anthem Biosciences reported a YoY increase in profit after tax and total revenue in the financial year.
- Proceeds from the IPO will go to shareholders as the company will not receive any funds from the offering.
Read Full Article
19 Likes
Bloomberg Quint
2d
372
Image Credit: Bloomberg Quint
TCS Share Price Falls Over 2% On Weak Q1 Results, Cautious Outlook; Buy Or Sell?
- TCS share price fell over 2% after reporting weak Q1 results and a cautious outlook by brokerages.
- Net profit for TCS rose 4% to Rs 12,760 crore in Q1FY26 compared to the previous quarter.
- Leading brokerages expressed concerns about the demand environment for TCS in the next few quarters due to macro uncertainty.
- At 9:54 am, TCS shares traded 2.26% lower at Rs 3,306 apiece on the BSE, with the stock falling 15% in the last 12 months.
Read Full Article
22 Likes
Bloomberg Quint
2d
1.4k
Image Credit: Bloomberg Quint
TCS Salary Hike 2025: ‘We Have Not Made A Decision’, Says Chief HR After Q1 Results
- Tata Consultancy Services (TCS) has not finalized plans for a salary hike for employees in 2025, as stated by its Chief HR Officer following the Q1 financial results.
- TCS reported a 4% rise in net profit for the quarter ending June 30, with net profit reaching Rs 12,760 crore.
- Despite revenue decline and slight dip in operating income, TCS added over 6,000 employees in the quarter, leading to concerns over a high attrition rate of 13.8%.
- The company remains cautious on compensation decisions, linking future wage increases to improved macroeconomic conditions and business performance.
Read Full Article
24 Likes
Bloomberg Quint
2d
84
Image Credit: Bloomberg Quint
Man Retires At 45 With Rs 4.7 Crore From Simple Job And SIPs, Viral Reddit Post Leaves Users In Awe
- A man retired at the age of 45 with a Rs 4.7 crore corpus from a simple job and SIPs, catching attention on Reddit for his unique approach to personal finance.
- He started investing in mutual funds through SIPs in 1998, even when the concept was not common, gradually increasing his contributions as his salary rose.
- Despite living a frugal lifestyle for years in a 2BHK, riding a scooter, and taking minimal vacations, he managed to accumulate significant wealth through consistent saving and investing.
- The viral post on Reddit praised his financial discipline, with many users impressed by his ability to retire early and maintain a low-key lifestyle, while some raised concerns about potential compromises in enjoying his wealth.
Read Full Article
Like
Bloomberg Quint
2d
412
Image Credit: Bloomberg Quint
Zee Entertainment Shares Fall As Shareholders Reject Rs 2,237-Crore Warrants Issuance Proposal
- Zee Entertainment Enterprises Ltd.'s share price fell by 6.24% after shareholders rejected a proposal to raise Rs 2,237 crore through the issuance of warrants to promoters.
- The resolution failed as the number of votes in favor was less than three times the number of votes against it, with 59.5% in support and 40.5% in opposition.
- Most warrants were intended for issuance to a Mauritian promoter, including ousted board member Punit Goenka, with Sunbright Mauritius Investments Ltd. and Altilis Technologies Pvt. being the sources of funds.
- Approval of the proposal would have led to Sunbright subscribing to over 99% of the warrants, potentially acquiring a 14.92% stake in the company.
Read Full Article
16 Likes
Bloomberg Quint
2d
325
Image Credit: Bloomberg Quint
DMart Share Price Falls Ahead Of Q1 Results
- Shares of Avenue Supermarts Ltd. (DMart) fell 0.82% ahead of the company's first-quarter results on Friday.
- DMart's revenue for the June quarter is projected to increase by 17.8% year-on-year to Rs 16,583 crore, with a forecasted net profit growth of 14% to Rs 883 crore.
- In the previous quarter, DMart experienced a decline in profit but reported a revenue increase, leading to anticipation around the upcoming results amidst challenges in the consumer staples sector.
- Analysts predict potential muted top-line growth for companies in the consumer staples space due to weak underlying demand.
Read Full Article
19 Likes
Bloomberg Quint
2d
200
Image Credit: Bloomberg Quint
Rupee Opens Weak Against US Dollar Amid Tariff Tensions
- The Indian rupee opened weak against the US dollar at 85.83 on Friday, after closing at 85.65 on Thursday.
- Dollar-rupee forward premiums showed minimal movement, indicating limited support for an interest rate cut later this month.
- Ongoing tariff tensions between the US and other countries have contributed to volatility in the forex market.
- Oil prices remained steady as investors evaluated the impact of OPEC+ supply and President Trump's tariffs.
Read Full Article
12 Likes
Bloomberg Quint
2d
565
Image Credit: Bloomberg Quint
Tata Elxsi Share Price Falls Nearly 8% After Company Posts Decline In Net Profit
- Tata Elxsi Ltd.'s share price fell nearly 8% following a 16% decline in profit for the June quarter.
- Quarterly net profit dropped to Rs 144.37 crore from Rs 172.42 crore, while revenue decreased to Rs 892.10 crore from Rs 908.34 crore.
- EBIT declined by 11% to Rs 162.44 crore, with margins contracting to 18.2% from 20.1%.
- The CEO attributed the challenges faced in the quarter to macroeconomic uncertainties and industry-specific issues impacting R&D spend and decision-making cycles.
Read Full Article
22 Likes
Bloomberg Quint
2d
618
Image Credit: Bloomberg Quint
Glenmark Pharma's Mega Deal With AbbVie Has Brokerages Mixed
- Glenmark Pharmaceuticals Ltd. struck a deal with AbbVie for its cancer drug ISB 2001, receiving mixed reactions from brokerages.
- Nuvama maintained a 'neutral' outlook, while HSBC and Axis Capital are more optimistic about the deal's transformative impact and growth prospects for Glenmark.
- The deal includes an upfront payment of $700 million, potential milestone payments of up to $1.225 billion, and tiered royalties on sales, providing a significant financial boost.
- HSBC raised its target price to Rs 2,275, emphasizing the transformative nature of the deal and the potential for better sales growth and profitability for Glenmark.
Read Full Article
11 Likes
Bloomberg Quint
2d
1.4k
Image Credit: Bloomberg Quint
HUL Names Priya Nair As New CEO: Macquarie Bullish On Stock, Goldman Sach Is Neutral
- HUL announced the appointment of Priya Nair as the new CEO, succeeding Rohit Jawa from Aug. 1.
- Macquarie is bullish on HUL's stock, citing Nair's experience in India and the potential growth in the beauty segment.
- Goldman Sachs, on the other hand, maintained a neutral rating on HUL, anticipating gradual volume growth and margin decline due to increased marketing expenditure.
- While the leadership change at HUL has raised some concerns, brokerages like Macquarie and Investec have differing outlooks on the stock's future performance.
Read Full Article
27 Likes
Bloomberg Quint
2d
435
Image Credit: Bloomberg Quint
Add TCS, Reduce Tata Elxsi Shares Maintains HDFC Securities Post Q1 Results — Here's Why
- HDFC Securities downgrades Tata Elxsi earnings estimates due to pressure on revenue and gross margins post Q1 results.
- TCS experienced delays in decision making and lower discretionary investments leading to a TCV of $9.4 billion, mainly driven by cost optimization projects instead of large transformation programs.
Read Full Article
7 Likes
Bloomberg Quint
2d
387
Image Credit: Bloomberg Quint
Five Stocks To Buy Today: SBI, Prestige, Paytm, Container Corp. Among Others
- Stocks recommended for buying today include SBI, Prestige Estate Projects Ltd., Paytm's operator One97 Communications, Container Corp. of India, and Glenmark Pharmaceuticals Ltd.
- Experts like Nilesh Jain, Aditya Agarwala, Shrikant Chouhan, and Ajit Mishra provided their 'buy' recommendations on these stocks based on market data.
- Specific recommendations include buying Concor, One97 Communications, Prestige Estate Projects, SBI, and Glenmark at their current market prices with respective stop loss and target prices.
- It's important to note that the views expressed are of the individual experts, and viewers are advised to consult with their own financial advisors before making investment decisions.
Read Full Article
18 Likes
For uninterrupted reading, download the app