Market News
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Eleven invests Rs 216 cr into financial services biz, total investment rises to Rs 470 cr
Diversified group Eleven has injected Rs 216 crore into its financial services arm, pushing total investment to Rs 470 crore over four years. This strategic move aims to bolster its scaled financial services franchise, with its NBFC, SVCL, having served over 19 lakh customers and disbursed Rs 10,000 crore. Eleven also launched Eleven Tech, a new platform for financial institutions, appointing Monu Ratra as its CEO.
Interglobe Aviation among 4 stocks flashing bullish signals, hinting at a possible uptrend
Four Nifty500 stocks formed a bullish White Marubozu pattern, signalling strong buying interest throughout the session. Mahindra & Mahindra Financial Services, Tata Motors, Asahi India Glass and InterGlobe Aviation featured on the scanner.
Industry experts chart the future of India’s bond and fixed income markets
India Fixed Income Summit brings meaningful conversations and fresh perspectives on India’s evolving bond market and the growing importance of fixed income in India’s financial ecosystem.
PNB to focus on Retail, Agriculture, MSME advances, CASA deposits to boost profitability: MD Ashok Chandra
Punjab National Bank is set to prioritize retail, agriculture, and MSME lending, alongside boosting low-cost deposits to fuel growth. MD and CEO Ashok Chandra highlighted the bank's strong financial position and commitment to digital expansion and customer service. PNB aims to contribute to India's 'Viksit Bharat' vision by 2047, integrating ESG principles for responsible and sustainable development.
Smartworks to acquire Singapore’s Workstudio Spaces
Smartworks is set to acquire Singapore-based Workstudio Spaces, expanding its footprint to 76,000 sq. ft. with over 1,500 seats. This strategic move, funded internally, will more than double the company's presence in Singapore within two years. The acquisition aims to tap into a high-demand micro-market and diversify its client base. Smartworks recently achieved profitability and significant revenue growth, demonstrating a strong financial position for continued expansion.
Adani Ports emerges top contender for Karanja Terminal takeover
Adani Ports is poised to acquire Karanja Terminal & Logistics, with creditors endorsing its ₹625-crore recovery plan. The nation's top port operator has offered full repayment to financial creditors for their outstanding dues. This development follows Prudent ARC's acquisition of nearly all of Karanja's debt, signaling a significant shift in the company's future.
RBI opens term money market to AIFIs, housing finance companies
The Reserve Bank of India has opened the term money market to All India Financial Institutions and housing finance companies, allowing them to borrow and lend. Prudential borrowing limits for primary dealers have also been significantly increased. These moves aim to deepen market participation and improve liquidity, ultimately strengthening monetary policy transmission by linking short-term and long-term interest rates.
RBI opens term money market to AIFIs, housing finance companies
The Reserve Bank of India has opened the term money market to All India Financial Institutions and housing finance companies, allowing them to borrow and lend. Prudential borrowing limits for primary dealers have also been significantly increased. These moves aim to deepen market participation and improve liquidity, ultimately strengthening monetary policy transmission by linking short-term and long-term interest rates.
RBI draft allows AIFIs, HFCs to borrow from call money
The Reserve Bank of India (RBI) has proposed allowing All India Financial Institutions (AIFIs) and housing finance companies (HFCs) to borrow in the term money market, while also increasing borrowing limits for standalone primary dealers to strengthen liquidity and market participation.
Majestic Auto CFO Ajay Kumar resigns
Majestic Auto has announced the resignation of its chief financial officer (CFO) and key managerial personnel, Ajay Kumar, citing personal reasons.
United Spirits set to cut 100 jobs to curb costs, streamline operations
United Spirits is cutting around 100 jobs in India as part of parent Diageo's global cost-saving drive. This significant workforce reduction, impacting mid- to senior-level employees, aims to streamline operations and boost productivity. While the company continues investing in key brands and growth markets, further roles could be affected. This move comes despite strong recent financial performance and ongoing supply chain optimization efforts.
Interglobe Aviation among 5 F&O stocks with a sharp rise in futures open interest
Five NSE F&O stocks, including Oracle Financial Services, IndiGo, IRFC, Swiggy and Avenue Supermarts, saw sharp open interest build-up on June 24, signaling heightened trader participation and fresh futures positions.