Page 3 - Equity

Wealth creation is simple but not easy, requires discipline

Clients often fall back into old habits and require motivation to stay on track. Financial planning professionals also provide support during in inevitable setbacks

Adani Power sells Support Properties stake to AdaniConnex for Rs 1,556 cr

Adani Power on Thursday said it has sold a 100 per cent stake in Support Properties Private Ltd (SPPL) to AdaniConnex Private Ltd (ACX) at an enterprise value of Rs 1,556.5 crore. "Parties to the proposed transaction (for which a binding memorandum of understanding had been signed earlier) have executed a Share Purchase Agreement and concluded the transaction," a BSE filing stated. Earlier in November last year, Adani Power had entered into a memorandum of understanding (MoU) to sell its 100 per cent equity stake in its wholly-owned subsidiary Support Properties Private Ltd (SPPL) to AdaniConnex Private Ltd (ACX). The enterprise valuation (of a 100 per cent stake in SPPL) was estimated at Rs 1,556.5 crore, subject to adjustments on the closing date. The ACX is a 50:50 joint venture between Adani Enterprises Limited, which is a promoter group company, and EdgeConneX. It is engaged in the business of developing world-class data centres and providing co-location hosting and ancillary

IDFC First Bank to issue 377.5 million share to IDFC Financial Holding

This comes after IDFC Ltd decided to infuse Rs 2,200 crore into the bank as growth capital

Investors showing maturity, eyeing equities for long-term: Bandhan MF chief

In a Q&A, Vishal Kapoor dwells on the fund house's plan to renew growth momentum following the acquisition of IDFC MF and re-branding exercise

From debt to equity: Why are India's 'national champions' changing tack?

Among reasons for the shift could be higher cost of servicing debt, bond holders' risk awareness making roll-over option expensive at the time of repayment, and reputation issues, writes T N Ninan

Investors pour Rs 15,700 crore into equity mutual fund schemes in Feb

February inflows most in nine months, debt schemes continue to struggle

Investors' wealth climbs Rs 3.43 trillion as Sensex jumps 900 points

Equity investors became richer by Rs 3.43 lakh crore on Friday amid an overall positive trend in the market and the benchmark Sensex jumping nearly 900 points. The BSE Sensex zoomed 899.62 points or 1.53 per cent to settle at 59,808.97 points. During the day, the benchmark rallied 1,057.69 points or 1.79 per cent to 59,967.04 points. The market capitalsation of BSE-listed firms rose Rs 3,43,173.59 crore to Rs 2,63,42,218.11 crore. "The market had more reasons to cheer today than to worry about concerns regarding inflation. PSU banks led the sectoral rally as reports of foreign investments in Adani stocks helped the sector in recouping the dampened sentiment. "The sentiment was further lightened as FIIs turned in strong buyers," Vinod Nair, Head of Research at Geojit Financial Services, said. Foreign Portfolio Investors (FPIs) bought shares worth Rs 12,770.81 crore on Thursday, according to exchange data. The embattled Adani Group has sold minority stakes in four of its listed ...

Intangles Lab raises $10 million in funds from Baring Private Equity

Predictive analytics solutions provider Intangles Lab on Tuesday said it has raised USD 10 million in funding from Baring Private Equity Partners India for expanding its global presence and accelerate hiring. In the coming years, Intangles is looking to vigorously revamp the electric vehicle segment using its extensive ambient cognitive AI technology, it said. Founded in 2016, Pune-based Intangles has developed substantial in-house IP by leveraging its proprietary Digital Twin and Machine Learning paradigms to provide predictive vehicle health monitoring solutions to original equipment makers and fleet operators. Intangles Lab Pvt Ltd has successfully raised USD 10-million in Series A funding from Baring Private Equity Partners India. The proceeds will be used to serve a robust new customer pipeline, expand its global presence and accelerate hiring to strengthen its product engineering, sales and delivery teams, it said. We are focused on growing our presence across the entire ...

Sensex pares early losses, Nifty reclaims 18K mark amid mixed global trends

Extending gains for a second day, the 30-share BSE Sensex advanced 242.83 points or 0.40 per cent to close at 61,275.09

Walmart-owned Flipkart poised to list publicly, says SoftBank

In India, SoftBank has backed many companies, and unicorns or start-ups with over $1 billion in valuation

Centre now largest Vodafone Idea shareholder as firm gives it 33.4% stake

Operational and management control of the company will remain with existing promoters

Vodafone Idea, Indus Towers shares skyrocket on govt's stake move

Stake issuance coupled with potential capital infusion by promoters should help Vi clear pending dues and invest in 5G; Indus Towers' receivables set to reduce

Equity delay left Vodafone Idea with fewer users and higher debt

16-mnth hold-up: User base down by a tenth, Ebitda margins squeezed, losses pile up

Budget 2023: 20% TCS may take sheen off investments in foreign stocks

The money can be adjusted later, but the blocking of 20 per cent capital till tax filing is likely to dissuade direct investment in foreign equities

Freightify raises $12 million in series A led by Sequoia Capital

Freightify helps power digital transformation of Freight forwarders through their suite of proprietary products

Shares of Adani Enterprises decline after FPO pricing, down over 4%

Issuance of partly paid shares, however, will queer the pitch for arbitrage traders

Don't let weak returns of ELSS category in 2022 deter you; stay invested

These funds can fetch double-digit returns over long term which debt tax-saving products can't

Equity investors turn richer by Rs 16.36 trn in 2022 despite uncertainties

Dalal Street investors became richer by more than Rs 16.36 lakh crore this year as the equity market scaled new highs despite persistent geopolitical uncertainties and inflation worries. Analysts attributed better macroeconomic fundamentals, the confidence of retail investors and foreign investors investing again in the domestic equities towards the latter half of 2022 as the key factors that led to the outperformance of the Indian market in comparison to many other stock markets worldwide. During the initial part of the year, markets were jolted by the Russia-Ukraine war. On February 24, when Russia launched its attack on Ukraine, the 30-share BSE Sensex had plunged about 2,850 points before closing at 54,529.91 points, registering a massive fall of 2,702.15 points or 4.72 per cent. In subsequent months, the key index recouped the lost ground and has climbed 2,880.06 points or 4.94 per cent this year till December 29. Sensex touched its all-time high of 63,583.07 points on Decembe

Airtel allocates equity worth Rs 71 crore to foreign debt bond holders

Bharti Airtel on Friday said it has approved the allotment of equity worth USD 8.6 million, about Rs 71 crore, to those holding its foreign debt bonds issued in January 2020. The company had issued USD 1-billion 1.5 per cent foreign currency convertible bonds (FCCBs) that are due for 2025. "We wish to submit that upon receipt of notice for conversion of FCCBs of principle value of USD 8,600,000 from certain holders of FCCBs, the Special Committee of Directors for Fund Raising has...on December 09, 2022, approved the allotment of 1,188,917 fully paid-up equity shares of face value Rs 5 each at a conversion price of Rs 521 per equity share to such holders of FCCBs," Bharti Airtel said in a regulatory filing. With this allotment, the company said that the outstanding principal value of FCCBs, as listed at Singapore Exchange Limited, stands reduced to USD 991.20 million.

Vodafone Idea's fundraising put on hold as govt delays equity call

The development spells further trouble for the company, which has an overall debt pile of Rs 2.2 trillion including hefty dues to the government