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True North cashes out $2 billion for investors as PE firms step up exits
This comes on the back of exits for True North from portfolio firms like FedFina, Niva Bupa, Biocon Biologics, Infinity Fincorp Solutions, Zydus Wellness and Home First Finance.
7 most valued firms' mcap eroded ₹1.25 trn last week, RIL took biggest hit
The combined market valuation of seven of the top-10 most-valued firms eroded by Rs 1.25 lakh crore last week, with Reliance Industries taking the biggest hit, in-line with a bearish trend in equities. Last week, the BSE benchmark Sensex declined 532.4 points, or 0.71 per cent, and the NSE Nifty dipped 181.05 points, or 0.76 per cent. "Persistent FII selling remained the key drag on market sentiment despite supportive developments such as cooling crude oil prices and a recovery in the rupee against the US dollar. Concerns regarding the pace of monsoon advancement also weighed on investor confidence," Santosh Meena, Head of Research at Swastika Investmart Ltd, said. From the top-10 pack, Reliance Industries, Bharti Airtel, Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India (LIC) and Hindustan Unilever faced erosion from their valuation, while HDFC Bank, ICICI Bank, and State Bank of India were the gainers. The market valuation of ...
Manappuram Finance units get RBI nod for indirect change in control by Bain Capital
A new chapter begins for Manappuram Finance as its subsidiaries, Asirvad Micro Finance and Manappuram Home Finance, have received the final nod from the Reserve Bank of India. This crucial approval enables Bain Capital to take indirect command over these companies.