Market News
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Stocks in news: TCS, Groww, Shriram Finance, Dixon Tech, Anand Rathi Wealth
Indian markets saw a rebound on Thursday, recovering from Wednesday's sharp sell-off. TCS reported a 5% year-on-year profit growth, and Groww affirmed its direct mutual fund strategy. Shriram Finance is raising funds to reduce borrowing costs after a rating upgrade. Maruti Suzuki plans to add service points, and Dixon Tech will expand smartphone manufacturing. Premier Energies commissioned a solar module facility, and Anand Rathi Wealth saw profit rise.
Axis Bank seeks shareholder nod to raise Rs 55,000 crore in FY27
Axis Bank is seeking shareholder approval to raise a substantial Rs 55,000 crore in FY27, comprising Rs 20,000 crore via equity and Rs 35,000 crore through debt. This move supports the bank's ongoing strategy to bolster its balance sheet by aggressively mobilizing deposits. The bank is focusing on acquiring new premium customers and deepening relationships with existing ones to drive growth and enhance customer value.
Axis Bank seeks shareholder nod to raise Rs 55,000 crore in FY27
Axis Bank is seeking shareholder approval to raise a substantial Rs 55,000 crore in FY27, comprising Rs 20,000 crore via equity and Rs 35,000 crore through debt. This move supports the bank's ongoing strategy to bolster its balance sheet by aggressively mobilizing deposits. The bank is focusing on acquiring new premium customers and deepening relationships with existing ones to drive growth and enhance customer value.
PE investor BC Investments sells Rs 612 crore stake in Emcure Pharma; Kotak MF picks up stake
Private equity firm BC Investments IV sold a Rs 612 crore stake in Emcure Pharmaceuticals to Kotak Mahindra Mutual Fund at Rs 1,700 per share. Despite this divestment, analysts remain positive on Emcure's growth outlook across its core therapeutic segments.
Ajanta Pharma promoter sells ₹1,024 crore stake; mutual funds step in as buyers
A promoter entity of Ajanta Pharma has sold a 2.8% stake in the drugmaker for over ₹1,000 crore through a block deal, with Kotak Mahindra Mutual Fund and Aditya Birla Sun Life Mutual Fund emerging as the key buyers.
Promoter sells Rs 1,024 crore worth of Ajanta Pharma shares in block deal to Kotak MF and ABSL MF
A promoter entity of Ajanta Pharma sold shares worth over Rs 1,024 crore through a block deal, with Kotak Mahindra Mutual Fund and Aditya Birla Sun Life Mutual Fund acquiring the stake. The transaction comes amid strong earnings growth, healthy margins and sustained momentum in the company’s pharmaceutical business.
The Great Consumption Reset: How a billion Indians changed what they buy
India's consumption landscape is evolving, with consumers favouring experiences, digital services, and premium products over basic goods. Kotak Mutual Fund's report shows a surge in foreign travel spending and premium smartphone sales, indicating a shift towards higher-value purchases.
Mutual fund bulls vs FII bears: The Rs 38,000 crore battle for 5 popular bank stocks
Domestic mutual funds bought banking stocks worth Rs 38,000 crore in March, countering heavy FII selling of Rs 60,655 crore during the Iran war selloff. Major accumulation was seen in HDFC Bank, ICICI Bank, SBI, Kotak Mahindra Bank, and Axis Bank. HDFC Bank emerged as the top pick across leading mutual fund houses, according to Prime Database estimates.
Game of cards: Top banking players opt for tight gambit, rivals up the ante
Since the start of the calendar year, major devaluations have hit multiple premium and super-premium cards, shocking the high spenders. No card has been spared, be it the ICICI Emeralde Private Metal (removal of some vouchers for accelerated rewards), American Express Platinum Travel (higher spend milestones for bonus rewards), or Axis Bank (removal of three popular transfer partners without advance notice). HDFC Bank, too, has asked its Infinia customers to clock in annual spends of at least Rs 18 lakh or maintain a total relationship value of at least Rs 50 lakh to retain the by-invite-only metal.
Bill Ackman's Pershing Square proposes $64 billion merger with Universal Music Group, could value shares at 78% premium
Bill Ackman's Pershing Square proposed merging Universal Music Group with its investment fund, valuing it at 30.40 euros per share. The deal aims to boost UMG's value through a U.S. listing, despite previous delays and challenges in the competitive music landscape.
Correction in NBFCs, IT and realty offers entry as earnings stay steady: Anupam Tiwari
Anupam Tiwari, Head of Equity at Groww Mutual Fund, expects a strong current quarter with limited impact from oil shocks so far, but flags risks from the next quarter onward. He remains positive on premium consumption, NBFCs, manufacturing exports and capex, while adding IT and premium real estate after corrections. He believes market fears may be overstated, with much of the downside already priced in.
Bill Ackman's Pershing Square offers to buy Universal Music for nearly $65 billion: Report
Pershing Square Capital Management has proposed a combination with Universal Music Group NV that would move the listing into a US-based acquisition vehicle in a deal that Bill Ackman’s fund said will value the world’s biggest music label at a 78% premium to its last closing price.