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Tata Capital’s risk adjusted capital to improve to 10% in 2 years: S&P

Tata Capital’s risk adjusted capital (RAC) ratio is expected to improve to about 10 per cent over the next two years from 8.0 per cent in March 2023, said S&P Global Ratings on Monday. 

 

Tata Capital’s capitalisation will likely remain strong despite the projection of above-average loan growth, said the rating agency in a statement. The capitalisation is likely to benefit from regular infusions by the Tata group, a proposed Initial Public Offering (IPO) by 2025, and Tata Capital’s investments in subsidiary and associate companies. Read

Sugar output falls 2.48% to 22.36 mn tonnes till Feb 15 of FY24: ISMA

The country’s sugar production dipped 2.48 per cent to 22.36 million tonnes till February 15 of the ongoing 2023-24 marketing year, as per the industry body ISMA’s latest data.

 

Sugar production stood at 22.93 million tonnes in the year-ago period. Sugar marketing year runs from October to September. Read

India emerges as global leader in the number of IPOs year-to-date in 2023

Indian stock exchanges, including the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), have emerged as global leaders  in terms of the number of IPOs, with no cross-border deals reported, revealed a report by EY India, a leading global professional services organization. READ MORE

ALERT:: Crisil upgrades credit rating of PVR Inox; stock up 1%

PVR Inox in an exchange filing today said, credit rating agency CRISIL has upgraded the rating of the long-term bank facilities & long-term debt instruments to CRISIL AA/CRISIL PPMLD AA/Stable (upgraded from CRISIL AA-/Positive) and reaffirmed credit rating of the short-term bank facilities & short-term debt instruments to CRIRIL A1+ (A one Plus).

Novartis soars 11%; board to support parent firm explore strategic options

After some deliberations, the Novartis India board agreed to support Novartis AG, as may be required, in evaluating their strategic options, the company said. READ MORE

JSW Steel in talks to buy Australian coal mine for up to $1 bn valuation

JSW Steel is in talks to buy a 20 per cent stake in a coal mine owned by Australian company Whitehaven Coal at a valuation of up to $1 billion. The transaction would close as early as March if talks are successful, said a source close to the development. READ MORE

Zomato plans D2C expansion of Blinkit to compete with ecommerce giants

Zomato, known primarily for its food delivery services, is gearing up for a significant expansion into the fast-growing direct-to-consumer (D2C) space through its 10-minute delivery platform, Blinkit, according to a report by the Economic Times (ET). This move places Zomato in direct competition with established e-commerce giants like Amazon and Flipkart, signalling a strategic shift in the company’s business model. READ MORE

ALERT:: IREDA, PNB to co-finance Green Energy Projects; stock up 1%

Indian Renewable Energy Development Agency (IREDA) and Punjab National Bank (PNB) have joined hands through the signing of a Memorandum of Understanding (MoU) aimed at advancing renewable energy initiatives across the nation.

 

As per a release issued by IREDA, this agreement paves the way for joint efforts in co-lending and loan syndication for a diverse spectrum of Renewable Energy projects.

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Cashless claim is top reason for intention to buy health insurance, says study

At least 70% of people buy health insurance not for tax purposes, but for adequate coverage for ‘health’, revealed a recent study of health insurance trends by ICICI Lombard. ‘Cashless claim’ is the top reason to buy health insurance, followed by the protection of savings and managing inflated medical costs. READ MORE

Shifting paradigms: Retail shuffle meets FPI market drive, shows data

Juxtaposing the change in the shareholding pattern of various stakeholders with stock price movement during a quarter reveals interesting trends. The data shows that retail investors – those holding shares worth less than Rs 2 lakh in a single company – tend to churn their holdings the most, while changes by foreign portfolio investors (FPIs) have the highest impact on stock price performance. READ MORE

Nvidia market rally: What’s behind the US-based company’s bull run?

Over the last one year, tech major Nvidia has witnessed a rally in its stock price in the US markets. In the last few weeks, Nvidia, based out of California, surpassed companies like Google, Meta and Amazon in market capitalisation. Currently, it is the third most valued company in the US, only behind Microsoft and Apple. In the world, it is the fourth most valuable company, with Saudi Aramco in the third spot. READ MORE

Stock of this non-banking finance company has zoomed 105% in 3 months

Shares of Paisalo Digital rallied 15% to hit a record high of Rs 164 in intra-day trade on Monday, thus surging 63% in past one month on promoter buying and strong December quarter (Q3FY24) earnings. READ MORE

ALERT:: LIC soars 9% intra-day deals; gets tax refund of Rs 21,741 cr

LIC has received a tax refund of Rs 21, 740.77 crore from the Income Tax Department on February 15, 2024. 

Valuation adrift: Uncharted course of low-float PSU rally, shows data

A sharp run-up in shares of public sector undertakings (PSUs) with ultra-low public float has raised concerns about fair price discovery and possible manipulation. The stock prices of the 10 PSU stocks with a public shareholding of less than 14 per cent have rallied between 76 per cent and 4.5 times in the past year. READ MORE

Quess Corp surges 16%; hits 52-week high on three-way demerger plan

Quess Corp announced that its board of director plans to undertake a three way demerger of its diversified business segments, resulting in three listed entities with dedicated presence. READ MORE