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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.
Micron shares jump 17% as strong AI-driven outlook lifts market value above Meta
Micron Technology surpassed Meta Platforms in market valuation for the first time, driven by a strong forecast. The shares rose 18.4% to $1.236, giving a market cap of $1.398 trillion, slightly above Meta's $1.392 trillion, but below Tesla's $1.4 trillion.
HDFC Mutual Fund buys additional 10 lakh shares of Global Health for Rs 130 crore
HDFC Mutual Fund has secured an additional 10 lakh shares of Global Health, which is known for operating Medanta hospitals, from co-founder Sunil Sachdeva for Rs 130 crore. This acquisition builds on a prior purchase made last month. The transaction accounts for a 0.37% stake in the company. In related news, Global Health has reported an impressive 39.7% increase in its fourth-quarter profit after tax, totaling Rs 141.7 crore.
Sebi seeks clarification from Jio Platforms on IPO filing
India's capital markets regulator Sebi has requested clarifications from Jio Platforms regarding its draft IPO papers. This move signals a crucial step towards what is anticipated to be the nation's largest public offering, aiming to raise approximately Rs 35,000 crore. The company plans to utilize these funds primarily for debt repayment and future expansion, marking a significant value-creation milestone for Reliance Industries.
What makes Toyota a low-risk bet in the pre-owned SUV segment?
Indian buyers are increasingly opting for pre-owned SUVs, with the Toyota Fortuner emerging as a top choice for its exceptional durability and value. Built with an over-engineering philosophy, these vehicles boast robust drivetrains, strong chassis, and readily available parts, ensuring longevity and minimal maintenance. This reliability translates into unmatched resale value, making a used Fortuner a smart, low-risk investment for those seeking dependable performance.
‘Korean markets are like small caps’, says Capitalmind Mutual Fund CEO Deepak Shenoy; Kospi jumps 5%
Investor sentiment in South Korea shifted amid falling oil prices and positive news from US-Iran talks. However, proposed taxes on unrealised gains introduced uncertainty, contributing to significant market volatility and sharp fluctuations for major technology stocks.
Sensex ends higher but off day's peak: Why stock market lost momentum today
The Sensex rose 89 points to close at 77,080, while the Nifty gained 34 points to settle at 24,056. The Nifty Bank erased more than 500 points from the day's high, while the midcap index slipped into the red by the close.
ADB approves USD 42.2 mln loan to boost bamboo industry in northeast region
The Asian Development Bank has approved a $42.2 million facility to boost India's northeastern bamboo industry. This initiative aims to enhance agricultural productivity and rural livelihoods by supporting community-based projects and establishing women-led manufacturing units. Despite holding a significant portion of global bamboo, India's value chain is underdeveloped.
Gold slips marginally in futures trade; silver rebounds on value buying
Gold futures on MCX edge lower on weak global cues and strong US dollar, while silver recovers on bargain buying, analysts see correction but say long term outlook for bullion stays positive
Jupiter Wagons secures orders worth Rs 264 crore from JSW Rail Logistics, CWC
Jupiter Wagons has secured two major orders with a combined value of approximately Rs 264.32 crore from JSW (South) Rail Logistics Private Limited and Central Warehousing Corporation (CWC).
Jonnagiri gold mine to boost domestic production, advance 'Made in India' ecosystem, says Lloyds chief
India's gold import dependence is set to decrease with the inauguration of the Rs 405-crore Jonnagiri gold mine in Andhra Pradesh. This marks the nation's first commercial-scale private gold mining operation since Independence, aiming to produce up to 1,000 kg of refined gold annually. The project, a joint venture, is expected to boost the 'Made in India' refined gold value chain and foster regional economic growth.