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Bloomberg Quint
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Emcure Pharmaceuticals Bulk Deal: BC Investments Offloads Stake For Rs 563 Crore
- BC Investments IV Ltd. sold 45 lakh shares worth Rs 562.7 crore in Emcure Pharmaceuticals Ltd. through a block deal on the National Stock Exchange.
- The public shareholder sold their 2.37% stake for Rs 1,250.44 apiece with Kotak Securities as the book runners for the deal.
- Shares of Emcure closed 2.15% lower at Rs 1,252.30 apiece on the NSE. Analysts recommend a 'buy' or 'hold' with an average 12-month price target suggesting a potential downside of 16.5%.
- The stock has shown a 24.24% rise in the last 12 months but has declined by 13.46% year-to-date.
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Bloomberg Quint
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IndusInd Bank Q1 Update: Net Advances Slip 3% Amid Accounting Fraud Fallout
- IndusInd Bank's net advances fell by 3.1% sequentially to Rs 3.34 lakh crore in the April-June quarter, with a 4% decrease on a yearly basis.
- The bank's corporate banking advances declined significantly by 14.4% YoY and 6.2% QoQ, while consumer business advances saw a slight dip of 0.9% sequentially but rose by 4.8% YoY.
- Deposits at IndusInd Bank also dropped by 3.3% sequentially to Rs 3.97 lakh crore, with retail deposits slightly lower at Rs 1.84 lakh crore. The CASA ratio decreased to 31.49%.
- The decline in advances, deposits, and CASA ratio suggests caution in lending practices amid an ongoing derivative trading scandal affecting investor confidence. The bank's ability to restore trust and stabilize its financial performance will be crucial moving forward.
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VC Strategy and Operations-1
- A VC fund comprises a distinct legal and operational framework, with the management company (franchise) separate from the actual funds (LP entities).
- VCs face challenges similar to entrepreneurs during fundraising, needing to raise funds from LPs, who are then legally obligated to provide the funds within a set time frame.
- The compensation structure significantly influences VC behavior, with provisions such as recycling management fees to reinvest returns into meeting initial capital commitments.
- VC fund agreements establish investment parameters over time, including metrics like Multiple on Invested Capital (MOIC), Gross Internal Rate of Return (IRR), and differentiation between realised and unrealised values.
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Bloomberg Quint
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Aadhar Housing Finance Launches First All-Women Branch In Indore
- Aadhar Housing Finance has opened its first all-women-operated branch in Indore as part of an initiative towards women's empowerment in the housing sector.
- The branch in Indore is managed entirely by women, with nine female staff members ranging from the branch head to trainees initially appointed.
- The company plans to open 12 more all-women branches across India during the current financial year.
- Aadhar Housing Finance currently has 46 branches in Madhya Pradesh, with assets under management expected to rise to around Rs 3,200 crore by the end of the financial year.
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Bloomberg Quint
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Metropolis Healthcare Q1 Update: Revenue Up 23%
- Metropolis Healthcare Ltd. reported a 23% year-on-year uptick in revenue growth for the quarter ended June 30, driven by increased patient and test volumes.
- Specialty revenues surged up to 35% year-on-year due to the consolidation of Core Diagnostics, primarily focusing on high-end specialized oncology testing.
- Excluding the acquisition of Core, DAPIC, and Scientific, revenues grew approximately 13% year-on-year, with business-to-consumer revenues up by 15% year-on-year.
- The company mentioned that it is debt-free, and shares of Metropolis Healthcare closed 2.04% higher at Rs 1,773.30 apiece on the NSE.
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Bloomberg Quint
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Air India's Bengaluru-Bound Flight Delayed As Pilot Faces Medical Emergency
- An Air India flight heading to Bengaluru was delayed after one of the pilots faced a medical emergency, requiring the pilot to be rushed to the hospital.
- The flight, AI2414 scheduled to depart from Delhi, was delayed as another crew member took over.
- The pilot is stable but under medical supervision. Air India's priority is the pilot's speedy recovery.
- The incident remains a developing story.
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Bloomberg Quint
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SEBI Maintains Close Watch On F&O Markets Amid Continued Retail Losses
- SEBI is closely monitoring the Indian futures and options markets to protect investor interests and ensure market stability.
- Concerns persist over a high concentration of trading in short-term expiries and speculative short-term trades.
- SEBI aims to encourage longer-dated contracts, genuine hedging, and long-term investing to improve the market ecosystem.
- Recent measures by SEBI include a shift to delta-based open interest metric and revised end-of-day limits for Index Options.
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Bloomberg Quint
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Trump Plans To Start Notifying Countries Of US Tariffs Up To 70%
- Trump plans to notify countries of US tariffs up to 70% effective Aug. 1.
- The new tariff rates will range from 60% to 70% for certain countries.
- Stocks drop as Trump's tariff threat impacts global markets and inflation risks rise.
- US has secured deals with UK, Vietnam, and truces with China amidst ongoing negotiations.
- Trump aims for simple tariff deals while expressing optimism with India but tension with Japan.
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Bloomberg Quint
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Indian Insurers Ask Regulator To Revamp Bond Valuation Rules
- Indian insurers are urging the regulator to update bond valuation rules to distinguish between debt issued by state-run entities and private companies.
- The proposed shift aims to enhance participation in the corporate debt market and increase liquidity in India's corporate bond market.
- Insurers seek to protect their Unit-Linked Insurance Plans (ULIPs) from potential losses through this request.
- The move could lead to a more accurate valuation of bonds with the security-level approach, although it warrants careful risk management.
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Bloomberg Quint
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Nestle Approves Issuance Of Bonus Shares In 1:1 Ratio
- Nestle India Ltd. has approved the issuance of bonus shares in a 1:1 ratio for shareholders owning each equity share of face value Re 1.
- The bonus shares will be issued by capitalizing free reserves and accumulated surplus, with the record date to be announced separately, pending shareholder approval.
- In the fourth quarter, Nestle's net profit decreased to Rs 885.4 crore due to higher raw material inflation, while revenue from operations rose by 4.5% to Rs 5,503.8 crore compared to the previous year.
- Shares of Nestle closed 0.57% higher at Rs 2,392.80 apiece, with analysts giving a mix of 'buy,' 'hold,' and 'sell' recommendations.
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Bloomberg Quint
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Dreamfolks Services Stake Sale: Bajaj Finance Offloads
- Bajaj Finance offloaded a 0.58% stake in Dreamfolks Services Ltd. through open market transactions, selling 3.09 lakh shares at Rs 51.42 apiece.
- Axis Bank Ltd. and ICICI Bank Ltd. closed certain programmes with Dreamfolks Services Ltd. from July 1, impacting the company's operations.
- Dreamfolks Services faced a decline in net profit by 5% to Rs 65 crore in fiscal 2025, despite a 14% increase in revenue to Rs 1,292 crore.
- The news of major banks and card networks moving away from Dreamfolks Services led to a share plunge of over 15%, following previous service disruptions at airports.
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Bloomberg Quint
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Tata Power AGM: N Chandrasekaran Highlights Strong Clean-Energy Portfolio, Expanding Infra Pipeline
- Tata Power's Chairperson, N Chandrasekaran, highlighted the company's leadership in India's energy transition at the AGM.
- The company's generation portfolio has exceeded 25 GW, with 65% from clean sources like solar, wind, and hydropower.
- Tata Power reported a strong financial performance with record profit after tax and revenue growth in the last fiscal year.
- The company is focusing on consumer-facing initiatives like rooftop solar and EV charging networks to promote sustainable growth.
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Bloomberg Quint
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Ultratech Chief Legal Officer Resigns Amid CCI's Cement Cartel Probe
- Ultratech's Chief Legal Officer, Anoop Khatry, resigned citing personal reasons, as announced in an exchange filing on Friday.
- The Competition Commission of India directed Ultratech to submit financial documents following allegations of contraventions of competition norms, related to cartelization in ONGC tenders.
- The Director General's investigation found Ultratech's subsidiary India Cements, along with other companies, engaged in anti-competitive collusion, leading to the CCI's directive for financial disclosures.
- Ultratech's shares closed 0.86% higher on Friday amidst these developments, ending at Rs 12,506 apiece, compared to a 0.22% rise in the benchmark NSE Nifty 50.
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Bloomberg Quint
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'Big Beautiful Bill' To SEBI Action Against Jane Street — The Week That Was
- HDB Financial Services Ltd. debuted on both the NSE and BSE with shares listing at Rs 835, showing a 13% premium over its IPO price.
- The US House approved President Donald Trump's $3.4 trillion fiscal package that reduces taxes, funds for safety-net programs, and dismantles aspects of clean-energy initiatives.
- SEBI banned Jane Street Group entities from accessing the Indian securities market due to alleged unlawful gains, ordering the impounding of Rs 4,843.57 crore.
- India's industrial production growth slowed to 1.2% in May, marking the weakest growth in nine months, with the manufacturing sector recording an annual growth of 2.6%.
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Bloomberg Quint
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Competition Commission Probes Ultratech For Alleged Cartelisation In ONGC Tenders
- The Competition Commission of India (CCI) is investigating Ultratech, along with two other cement makers, for alleged cartelisation in ONGC tenders.
- The CCI found that Ultratech's subsidiary India Cements, Shree Digvijay Cement, and Dalmia Cement engaged in anti-competitive collusion.
- Financial documents have been requested from Ultratech, Dalmia Bharat Cements, and Shree Digvijay Cements by the CCI.
- If there is non-furnishing of financial details within the specified time frame, the companies could be liable under section 45 of the Act.
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