Aurionpro Payments, a subsidiary of Aurionpro Solutions Limited, announced its launch as an online payment aggregator at the Global Fintech Fest 2024 in Mumbai today. The company received authorization from the Reserve Bank of India to operate in this capacity. Alongside this , Aurionpro Payments has introduced AuroPay, a payment receivable platform for businesses, and…
Sugar company stocks rallied as the government removed the cap on sugar diversion for ethanol production. This will reduce the closing stock and help hold sweetener prices higher. Moreover, the government has allowed grain-based distilleries to participate in the e-auctions by the Food Corporation of India for rice procurement of up to 23 lakh tonnes….
Notwithstanding the grandstand announcement that Reliance Industries will double in size by the end of the decade, stakeholders are dissatisfied as there are no near-term catalysts for the stock. Analysts and investors had high expectations that chairman and managing director Mukesh Ambani would at least set out a timeline or even hint at a listing…
Target: ₹281 CMP: ₹234.80 In Q1-FY25, Ugro Capital reported a 38 per cent growth in its total income on a y-o-y basis, amounting to ₹301.60 crore, driven by a 44 per cent growth in Interest Income. The company’s PPOP grew to ₹76 crore, showcasing a growth of about 44 per cent on a y-o-y basis….
Mach Conference and Events plans to raise ₹125 crore by selling 55.68 lakh shares through initial public offering. The shares will be listed on BSE SME platform. The issue of company, which provides comprehensive event management solution, includes fresh issue of 22.29 lakh shares and 33.39 lakh shares through offer for sale. The issue is…
Non-banking finance company (NBFC) Aditya Birla Capital has completed sale of its 50 per cent stake in Aditya Birla Insurance Brokers Ltd (ABIBL) to Edme Services, which is a part of Samara Capital Group, according to an exchange filing. “The transaction is now completed with the sale of entire 25,65,103 equity shares…representing 50.002% of the…
Eighteen companies have filed their draft offer documents for initial public offerings (IPOs) in August, the most number of filings in a month this year and the third highest in a decade. Top filings this month include JSW Cement, International Gemmological Institute, Hero Fincorp, and Manjushree Technopack. Each of these firms may raise ₹3,000-4,000 crore….
SEBI has revised the eligibility criteria for entry and exit of stocks in the derivatives segment. A stock’s median quarter sigma order size and its market wide position limit over the previous six months, on a rolling basis, should not been less than ₹75 lakh and ₹1,500 crore, respectively. The requirements for both these criteria…
Target: ₹718 CMP: ₹797.35 Relaxo Footwears (RLXF), a Fortune 500 (India) company, has established itself as a pioneer in the mass segment (50 per cent+ share of total footwear industry), open footwear category, offering quality products at affordable prices. The company’s product portfolio includes rubber-based hawai slippers, EVA slippers, PU slippers, casual shoes, sports shoes,…
The list of malpractices by company promoters is ever-growing. Promoters of Rana Sugars and Debock Industries have now joined the infamous list of Manpasand Beverages and Add Shop-E Retail, among others. The regulator’s findings against Debock Industries reveal how some promoters list their businesses for the sole purpose of milking public investors. According to SEBI…
