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The Economic Times

ET Soonicorns Summit 2024: Soonicorns-only roundtables with insider information

The ET Soonicorns Summit 2024 kicks off in Bengaluru on September 20, 2024. In a countdown to the event, here’s a sneak peek into three exclusive, soonicorns-only curated conversations spanning three of the Indian startup ecosystem’s most relevant themes: fintech, AI, and growth. Here’s why you should register!

The Economic Times

Technical Breakout Stocks: Info Edge, PB Fintech and Bharti Airtel hit fresh record highs; what should investors do?

Info Edge, PB Fintech, and Bharti Airtel reached new record highs on Thursday, with Info Edge gaining over 1% and PB Fintech surging more than 4%. Bharti Airtel, however, retreated slightly after initially hitting a fresh peak.

The Economic Times

RBI lifts restrictions on IIFL Finance's gold loan business

The Reserve Bank of India has lifted restrictions on IIFL Finance's gold loan operations, effective immediately. This decision ends a hiatus that began on March 4, 2024. IIFL Finance is now allowed to resume its gold loan activities while adhering to all relevant laws and regulations, ensuring high standards of compliance and customer service.

CNBC TV18

RBI lifts six-month ban on IIFL Finance’s gold loan operations

The ban earlier this year was a response to certain compliance issues flagged by the RBI, aimed at ensuring that IIFL Finance aligned with regulatory standards.

The Economic Times

Uno Minda lines up over Rs 610 crore investments on new plant in Indonesia, India capacity expansion

Uno Minda Ltd is investing over Rs 610 crore to set up a new plant in Indonesia and expand its domestic capacity in India. The new Indonesian facility will be operational by Q4 FY26, while the Indian expansions include new plants in Haryana and Karnataka, expected to commence operations by Q1 FY27.

The Economic Times

Jana Small Finance Bank to offer 6.75% short-term deposit rates with no early withdrawal penalties

Jana Small Finance Bank has introduced a flat 6.75% rate for short-term deposits over Rs 10 lakh and removed penalties for early withdrawal. This offer, effective from September 19, aims to attract short-term funds. Small savers will get rates between 3.5% and 6.5%, while seniors receive an additional 50 basis points.

Business Standard

Brookfield likely to add more to $13 bn it has bet on India infrastructure

Toronto-based Brookfield has nearly $29 billion of assets across infrastructure, real estate, renewable and private equity investments in India

The Economic Times

You cannot have a system which gets hacked: FM Nirmala Sitharaman to banking sector

Finance Minister Nirmala Sitharaman emphasized the crucial role of the banking sector in achieving India's goal of becoming a developed nation by 2047. Speaking at the Bank of Maharashtra's 90th Foundation Day, she highlighted the need for strong support to infrastructure, MSMEs, and digital banking while ensuring robust cybersecurity measures.

Business Standard

HDFC Bank likely to close $1 billion loan sale this month: Report

HDFC Bank merged with parent Housing Development Finance Corp in July 2023, adding a large pool of mortgage loans to the bank's portfolio but a much smaller amount of deposits

The Economic Times

Stock market update: Stocks that hit 52-week lows on NSE in today's trade

BPCL, Coal India Ltd, ONGC, Adani Ports SEZ and Shriram Finance were among the top losers on NSE in today's trade.

Business Standard

Shadow lender IIFL Finance faces rating downgrade risk on gold loan ban

IIFL fell under regulatory scrutiny in March amid a crackdown on financial firms, when it was asked by RBI to stop disbursing new gold-backed lending following 'material supervisory concerns'

CNBC TV18

From SBI, Axis Bank, PNB and more, these banks have exposure to Vodafone Idea

In a jolt to telecom firms, the Supreme Court has dismissed a batch of pleas filed by companies, including Vodafone Idea and Bharti Airtel, seeking correction of alleged errors in the Adjusted Gross Revenue.

Business Standard

Shadow lender IIFL Finance faces rating downgrade risk on gold loan ban

IIFL fell under regulatory scrutiny in March amid a crackdown on financial firms, when it was asked by RBI to stop disbursing new gold-backed lending following 'material supervisory concerns'

Mint

Cholamandalam is in spotlight, but watch the valuations

The market capitalization of Cholamandalam is far behind that of number one player Bajaj Finance, but both trade at similar valuations. While the macro scenario is favouring NBFCs, investors must not lose sight of the valuation

CNBC TV18

3 sectors that Anand Shah of ICICI Pru AMC bets on

Anand Shah, Head of PMS & AIF Investments at ICICI Pru AMC, manages over $2.5 billion in funds.

The Economic Times

Expect rate moderation, not a severe rate cut cycle, denoting problems with growth & capex: Vinod Karki

Vinod Karki from ICICI Securities addresses growth concerns in IT and agri-rural sectors, uneven rainfall distribution, and high valuations. He notes the telecom sector's recovery with rising tariffs. Potential shifts in cyclicals are highlighted alongside private capex trends and interest rate impacts on corporate investments. Financials, energy, and utilities show moderate valuations.

Business Standard

Vodafone Idea Ltd leads losers in 'A' group

Indus Towers Ltd, Chambal Fertilisers & Chemicals Ltd, IIFL Finance Ltd and Nava Ltd are among the other losers in the BSE's 'A' group today, 19 September 2024.

The Economic Times

Discussions on how to protect domestic steel industry going on: Union Minister

The steel ministry is discussing with the finance ministry to implement policy measures to curb rising steel imports, including a minimum import price. Efforts are also being made to strengthen the domestic alloy industry, which faces challenges like high power tariffs and inadequate raw materials. The minister aims to revive Rashtriya Ispat Nigam Limited.

Mint

Manba Finance IPO: 10 key points to know before you subscribe to ₹151 crore issue

Manba Finance plans to raise ₹150.84 crore through upcoming IPO, which is set to opne for bidding on September 23, 2024. Shares will be listed on NSE and BSE by September 30. The offering includes 1.26 crore shares priced between ₹114 and ₹120 each.

The Economic Times

K Raheja Corp’s Inorbit Malls acquires retail property in Hubli for over Rs 400 crore

Inorbit Malls, a subsidiary of K Raheja Corp, has acquired Akshay Sky Mall in Hubli for over Rs 400 crore. The fully leased mall features anchor tenants like Reliance Trends and Lifestyle. This move highlights the growing potential of tier-II cities in India for large-scale real estate investments.

The Economic Times

Tube Investments shares down 1.31% as Sensex rises

A total of 2,354 shares changed hands on the counter till 12:22PM (IST)

The Economic Times

PSU banks brace for CASA recovery as fixed deposit rates decline: Santanu Chakrabarti

​So, if you analyse why money supply or deposit growth in the last two years has not kept pace with the amount of credit that has got created, it becomes very clear that partly it is because of the external account where capital flows have not been that strong, but mostly is because RBI has gone from maintaining an excess liquidity situation into a liquidity shortfall.

Mint

Bajaj Housing Finance share price falls 16% in two days, remains India's most-valued HFC

Bajaj Housing Finance share price: Bajaj Housing Finance's stock has experienced a sharp decline in recent days, falling over 16% from its 52-week high.

The Economic Times

What Fed’s jumbo rate cut of 50 bps means for stock market investors in India

The US Federal Reserve's unexpected 50 basis points rate cut has led to a mixed reaction in the stock market. While Indian bluechip stocks rallied, smallcaps and midcaps saw losses. Analysts predict potential rate cuts in India, benefiting rate-sensitive sectors like banks and financials.

Mint

Indian Railway Finance Corporation share are down by -3.31%, Nifty up by 0.52%

Indian Railway Finance Corporation Share Price Today on 19-09-2024: On the last trading day, Indian Railway Finance Corporation (IRFC) opened at ₹159.3 and closed at ₹153.25. The stock reached a high of ₹161.05 and a low of ₹153 during the trading session.

The Economic Times

Bajaj Housing Finance shares tumble 11% in 2 days. Should you buy, sell or hold?

Bajaj Housing Finance Share Price: Bajaj Housing Finance shares have fallen by 11% over the past two days after a strong debut. Despite this dip, analysts remain optimistic due to the company's strong growth and support from the Bajaj Group. Experts suggest holding or buying on dips for long-term gains.

The Economic Times

India ranks 3rd in global cross-border capital destinations

In the first half of 2024, India ranked third globally for cross-border capital in land and development sites. Foreign investment in India's industrial and warehousing sector surged, driven by demand from 3PL and e-commerce players. Notable deals included investments by Daibiru Corporation, ADIA, KKR, and Maple Tree.

Business Standard

RBI approves Aditya Birla Capital's merger with AB Finance; stock up 6%

After receiving approval from the Reserve Bank of India for the merger of Aditya Birla Finance with itself, Aditya Birla Capital awaits approval from the NCLT

The Economic Times

Shriram Finance shares drop 0.55% as Sensex rises

A total of 10,997 shares changed hands on the counter till 10:56AM (IST)

The Economic Times

Best banking & PSU mutual funds to invest in September 2024

Mutual fund advisors say banking & PSU debt schemes are ‘relatively’ safe because these schemes invest only in bonds and papers of banks and public sector companies. Since most of these entities are government-backed, they don’t have the credit risk.

The Economic Times

Fed cut positive for Asian stocks and risk currencies, analysts say

The Federal Reserve's decision to cut its benchmark interest rate by 50 basis points is expected to positively impact Asian stocks. Analysts believe this move will provide more room for regional central banks to loosen policies, easing monetary pressure and boosting risk assets and high-yield currencies in the region.

The Economic Times

HDFC Life Insurance Company Share Price Today Live Updates: HDFC Life Insurance Closes at Rs 698.80, Achieves 17.21% Return Over Three Months

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The Economic Times

Bajaj Finance Share Price Live Updates: Bajaj Finance Closes at Rs 7631.10, Achieving 5.49% Returns Over Three Months

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The Economic Times

Banks step up digital vigil; online festive sales boom

Happy Thursday! Banks are implementing rigorous background checks for customers coming through digital channels. This and more in today’s ETtech Morning Dispatch.

Mint

Stock market today: Birlasoft, Granules, RBL Bank among ten stocks in F&O ban list on Sept 19

Aarti Industries, Balrampur Chini, Biocon, Birlasoft, GNFC, Granules India, LIC Housing Finance, Oracle Financial Services, PNB, and RBL Bank are the ten stocks on the NSE's F&O ban list on September 19.

The Economic Times

RBI's draft LCR norms could hit lending: Banks to FinMin

Banks have raised concerns to the finance ministry about the Reserve Bank of India's proposed changes to the liquidity coverage ratio (LCR). They argue that the new norms could impact their lending capacity, requiring them to set aside ₹4-5 lakh crore. Banks suggest a staggered implementation for smoother adaptation.

The Economic Times

Banks may face cash deficit on tax outgo

The banking system in India saw a sharp decline in surplus liquidity due to quarterly advance tax payments and upcoming GST payments. This has led to increased borrowing costs for banks. Analysts expect the liquidity situation to improve by the end of the month as government spending accelerates.

The Economic Times

Dow rises over 100 points to hit record after Fed delivers super-sized 50 bps cut

US stocks surged after the Federal Reserve cut interest rates by half a percentage point, ending its rate-hiking cycle. The Fed reduced its overnight lending rate to a range of 4.75%–5%. Wall Street responded positively, with the Dow Jones climbing 120 points and both the S&P 500 and Nasdaq Composite reaching new all-time highs.

Business Standard

Yum! Brands appoints Pewekar as MD for Pizza Hut in Indian subcontinent

Yum! Brands, the US-based quick-service restaurant major, on Wednesday announced the appointment of Rohan Pewekar as the Managing Director (MD) for Pizza Hut in the Indian subcontinent. Yum! Brands owns restaurant chains, including KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill. Pewekar will be based in Gurugram and will lead Pizza Hut's operations across India, Nepal, Bangladesh, Sri Lanka, and the Maldives, according to a statement. He will lead Pizza Hut for its next phase of expansion in the region, it added. Pewekar, an alumnus of IIM Calcutta and Wharton School, has been with Pizza Hut for over four years. He played a pivotal role in driving the brand's rapid growth in the region, serving as Chief Strategy and Finance Officer, it added. He has nearly 15 years of experience in B2C sectors and brings cross-functional expertise in finance, go-to-market strategies, channel expansion, and more. Before joining Pizza Hut, Pewekar worked with Samsung Electronics India and ..

Business Standard

Nazara Tech to raise Rs 900 crore; ups stake in Absolute Sports to 91%

Gaming and sports media company Nazara Technologies on Wednesday said its board has approved a preferential equity issue to raise Rs 900 crore. Nazara also announced increasing its stake in Absolute Sports to 91 per cent. The fresh capital will fuel the firm's strategic acquisitions and business expansion, and provide newer growth opportunities, a company statement said. "The preferential equity issue amounting to INR 900 crores will be placed with marquee investors such as SBI Mutual Fund, Junomoneta Finsol (an associate of Plutus Wealth), Think Investments, Discovery Investments, Mithun and Siddharth Sacheti, Cohesion Investments, Chartered Finance and Leasing, Ratnabali Investments and Aamara Capital, further strengthening Nazara's financial foundation for long-term expansion," it said. Nazara acquired an additional 19.35 per cent stake in Absolute Sports, the parent company of Sportskeeda, for Rs 145.5 crores, with 50 per cent of the consideration paid in cash and the remaining