The shares of General Insurance Corporation of India Ltd. (GIC Re) rallied 10% on the bourses today to hit their day’s high of Rs 175.90. The stock has gone up over 20% in the previous two trading sessions. The six-month performance has been impressive as well. It has generated an attractive return of 57% for [...]
Poonawalla Fincorp, the non-banking arm of the vaccine major Cyrus Poonawalla Group, on Wednesday announced sale of its housing subsidiary Poonawalla Housing Finance to private equity major TPG for Rs 3,900 crore. The transaction, subject to regulatory approvals, is being carried out by TPG global arm Perseus SG, the statement said, adding the deal will [...]
Even as macro headwinds impact performance of textile players across segments in the second quarter of 2022-23, the companies are expected to witness a healthy turnover in this financial year, Icra said in a report. Icra said it expects textile companies to report healthy growth in turnover in FY23 while the margins are expected to [...]
General Atlantic Singapore Fund PTE sold a stake in IIFL Wealth Management. However, its shares were in the green. They were trading at ₹ 1826.65 apiece at 11:47 AM on Wednesday. According to the bulk deals data available on the National Stock Exchange (NSE), General Atlantic Singapore Fund PTE sold 31,15,981 shares of the company [...]
One97 Communications, the parent company of payments solutions firm Paytm, on December 12 approved a share buyback plan of ₹ 850 crores, priced at ₹ 810 per share. Its shares were trading at ₹ 530 levels on Wednesday. “The approval of the Board be and is hereby granted for the buy-back by the Company of [...]
The CBI has booked three Jalgaon-based jewellery companies for alleged loan fraud of over Rs 352 crore in the State Bank of India, officials said on Wednesday. In three separate FIRs, the agency has named Rajmal Lakhichand Jewellers Pvt Ltd, RL Gold Pvt Ltd, and Manraj Jewellers Pvt Ltd, and their promoters-directors-guarantors -- Ishwarlal Shankarlal [...]
The National Stock Exchange (NSE) on Wednesday asked investors not to subscribe to any scheme with assured returns offered by an individual named Jay Prakash. The advisory comes after the NSE found that the individual was collecting funds from the public and was providing guaranteed returns on investment. He was also offering to handle trading [...]
Tata Group companies are known for their consistent returns to their shareholders. But it has been almost 2 decades since the last Tata company IPO hit. That was in 2004 when Tata Consultancy Services or TCS, the crown jewel of the salt to the software industry. Investors can rejoice, as the Tata Group is planning [...]
Financial services platform KFin Technologies on Wednesday said it has fixed a price band of Rs 347-366 a share for its Rs 1,500-crore initial share sale, which will open for public subscription on December 19. The three-day initial public offering will conclude on December 21, and the bidding for anchor investors will take place on [...]
Indian public sector banks have been in highlight recently for their multi-bagger gains to their shareholders. All-time high loan disbursements, improved asset quality and expansion of net interest margins prompted retail and foreign institutional investors likewise to pile government banks in their portfolios. One such bank that has delivered impressive gains is the Bank of [...]
