Mindblown: a blog about philosophy.
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Vedanta demerger | The 6 different entities, how financials stack up, who runs what
Billionaire Anil Agarwal-owned Vedanta Limited on September 29 announced creation of independent verticals through demerger of underlying companies, mainly its metals, power, aluminium, and oil and gas businesses to unlock potential value. The Jharsuguda facility, part of Vedanta, is now the world’s largest single-location aluminum smelting plant outside of China, with a capacity of 1.8…
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Vedanta raises funds at higher rates amid company rejig, say bankers
Vedanta Ltd, a subsidiary of Vedanta Resources, has raised Rs 25 billion rupees ($301.06 million)through the sale of bonds maturing in 18 months at sharply higher rates, three merchant bankers said on Friday. The company will offer a coupon of 12%, payable on a quarterly basis to investors of the issue, which is unrated, bankers…
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JSW Steel acquires remaining 50% stake in NSL Green Steel Recycling; stock rises 1%
Shares of JSW Steel jumped nearly 1 percent in early trade on September 28 post the acquisition of stake in NSL Green Steel Recycling. At 10:58 am the JSW Steel stock was trading 0.83 percent higher at Rs 786.15 on NSE. JSW Steel has completed the acquisition by purchasing the entire 50 percent stake held by National…
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Cholamandalam Investment may launch Rs 2,000 crore QIP today
Cholamandalam Investment and Finance Co Ltd is planning to raise approximately Rs 2,000 crore through a qualified institutional placement (QIP). The QIP is expected to open on September 28, offering an option to upsize based on the demand and response from investors, CNBC TV reported on September 28. Floor price for QIP likely to be in…
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Rupee ducks slump in EM currencies, but crude, dollar threats loom
The rupee held its ground so far this year, even as emerging market currencies slumped on rising worries over the Chinese economy and US interest rates souring the sentiment on riskier assets. However, going ahead, the Indian currency will likely see a tug-of-war between headwinds from high crude oil prices and firm interest rates on…
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Bearish Engulfing pattern suggests Nifty may fall to August lows, India VIX hits 4-month high
The Nifty50 lost all its previous day’s gains and has broken 21-day EMA (exponential moving average 19,723) as well as 50-day EMA (19,559) as bears turned strong with formation of Bearish Engulfing pattern on the daily charts with above average volumes, indicating the negative sentiment may prevail in coming days. Hence, the index may hit…
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Yatra Online lists at 10% discount: Should you buy, sell or hold the stock?
Yatra Online made a weak debut with its shares listing at a 10 percent discount at Rs 127.50 on the NSE and Rs 130 on the BSE, against the IPO price of Rs 142, on September 28. The stock, however, pared some losses and traded up at Rs 136 on the NSE by noon. Shivani Nyati of…
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Maruti Suzuki among top Nifty gainers; Citi, Morgan Stanley bullish
Shares of Maruti Suzuki India gained 1.6 percent to Rs 10,460 per share in Friday’s intra-day to trade among top Sensex and Nifty 50 gainers in an otherwise weak market. The surge came after global brokerages Citi and Morgan Stanley maintained bullish stance on the counter. In comparison, the S&P BSE Sensex was flat at 66,273…
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Glenmark Pharma shares falls 5% after subsidiary stake sale to Nirma
Glenmark Pharmaceuticals share price fell 2 percent at open on September 22, after the pharma company agreed to divest 75 percent of its stake in subsidiary Glenmark Life Sciences to Nirma. Glenmark Pharma stock was trading at Rs 827.70 on the NSE a close on September 21. At 10 am, the stocks were trading lower by 5…
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PSU banks see sharp rebound; JPMorgan’s India bonds inclusion lifts sentiment
PSU bank shares made a robust comeback on September 22 after a bruising selloff in the previous session after JPMorgan’s decision to include Indian bonds in its emerging-market index boosted investor sentiment. At 10.10 am, the Nifty PSU Bank index was trading 1.79 percent up at 5,128.25. All its 12 components were trading in the green, led…
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