Motilal Oswal on Shriram Transport Finance

Since the IL&FS crisis, Shriram Transport Finance has diversified into new borrowing sources, such as retail NCDs as well as ECBs, and increased reliance on deposits. The share of ECBs in the borrowing mix has increased meaningfully to 21% (from 13% five quarters ago). Shriram Transport Finance has also increased liquidity to 16% of borrowings. […]

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Globus Spirits share price hits new 52-week high

Globus Spirits share price jumped over 8 percent on June 18 and touched a new 52-week high of Rs 584.40. The stock has surged more than 36 percent in the last three days. The stock has been in focus after the company’s net profit jumped 161 percent to Rs 50.64 crore in the quarter ended […]

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Power Grid Corporation share price gains 3%

Power Grid Corporation of India share price added 3 percent on June 18 a day after company declared its March quarter results. The company reported 6.4 percent jump in its March quarter consolidated net profit to Rs 3,526.23 crore against Rs 3,313.47 crore in the same quarter last year. The company board has recommended issue […]

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Federal Bank board approves Rs 916 crore fund raise from IFC

Private sector Federal Bank on Wednesday said its board has approved issuing equity shares to World Bank arm International Finance Corporation and associates for over Rs 916.25 crore. The board also decided to raise up to Rs 4,000 crore by issuing equity shares or other instruments through various modes and Rs 8,000 crore by issuance […]

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KIMS Hospitals’ Rs 2,144-crore IPO subscribed 33% on second day of bidding

The public offer of Krishna Institute of Medical Sciences (KIMS Hospitals) is subscribed 33 percent so far on June 17, the second day of bidding, as the offer received bids for 47.54 lakh equity shares against IPO size of 1.44 crore shares, the subscription data available on exchanges showed. The portion set aside for qualified […]

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Dodla Dairy IPO issue subscribed 2 times:

The public issue of Dodla Dairy had been subscribed two times till the morning of June 17, the second day of bidding. Investors have put in bids for 1.72 crore equity shares against the IPO size of 85 lakh equity shares, the subscription data available on the exchanges showed. Retail investors remained at the forefront […]

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Kotak Mahindra Bank’s arm Kotak Mahindra Life Insurance Company expect losses in June quarter

The company estimate that claims, net of reinsurance, for the quarter ending June 2021, will be significantly higher than expected. Due to increased claims and higher mortality related provisioning arising on account of the second wave, the company expects to incur a loss for the quarter ending June 2021 in an estimated range of Rs […]

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CESC approves stock split proposal:

CESC share price touched a 52-week high of Rs 819.15, gaining 6 percent in the early trade on June 17, a day after the company posted an improved set of numbers of the March quarter and approved a proposal for sub-division of equity shares. The company reported a 13.5 percent jump in its consolidated net […]

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LIC Housing Finance share price falls 3% post Q4 results:

LIC Housing Finance share price sheds 3 percent on June 16 a day after the company declared its Q4FY21 earnings. The company on June 15 reported a 5 percent decline in its profit after tax to Rs 398.92 crore in the quarter ended in March 2021 due to higher provisioning for bad loans. It had […]

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Larsen & Toubro Infotech to acquire Cuelogic Technologies

Larsen & Toubro Infotech has signed a definitive agreement to acquire Cuelogic Technologies Private Limited, a Pune based Digital Engineering company with a 100% subsidiary in US, Cuelogic Technologies, Inc. Larsen & Toubro Infotech was quoting at Rs 4,183.10, up Rs 28.75, or 0.69 percent on the BSE. News source:- Moneycontrol

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