Niva Bupa Health Insurance, formerly Max Bupa has filed its draft red herring prospectus for a ₹3,000 crore initial public offering, of which ₹800 crore would be raised through a fresh issue and ₹2,200 crore would be an offer-for-sale by promoter and selling shareholders. Under the OFS portion, Bupa Singapore Holdings Pte would be selling…
In a move that would encourage more entrants in the mutual fund industry, the capital market regulator SEBI has proposed to reduce the net worth and profit track record criteria for companies interested only in managing assets passively. Existing fund houses can hive off their passive businesses and register under the MF Lite Regulations. In…
SEBI on Monday directed market infrastructure institutions (MIIs) to stop levying slab-wise fee structures on members, a move that could especially impact the topline of discount brokers. The existing revenue model of brokers operates similar to that of a wholesale dealer. Exchanges incentivise brokers based on turnover volume, allowing brokers to negotiate lower transaction fee…
The ‘Skin in the Game’ regulation has come as a blessing in disguise for the mutual fund industry as their investments have grown multi-fold last fiscal. Nippon Mutual Fund and Tata MF investments in their own schemes have grown 48 per cent and 45 per cent in the financial year ended March, 2024 to ₹338…
Target: ₹672 CMP: ₹483.50 The Mumbai-based luggage maker, VIP Industries Ltd (VIP), is India’s largest and world’s second-largest luggage manufacturer. Its brands cater to the mass and premium segments of the demand pyramid, with products across a wide price range. Founded in 1968, by noted industrialist Dilip Piramal, has over the years nurtured the brand…
Benchmark Sensex rose by 443 points to close at a new record high while Nifty settled above the 24,100 mark on Monday on buying in banking and IT shares in line with gains in Asian and European markets. The 30-share BSE Sensex settled higher by 443.46 points or 0.56 per cent at an all-time high…
Target: ₹185 CMP: ₹143.80 We initiate coverage of Inox Wind Ltd (IWL) with a Buy recommendation and a target price of ₹185. Inox Wind is a fully integrated wind energy solutions provider. The company is engaged in the business of manufacturing and selling wind turbine generators (WTGs). It also provides erection, procurement and commissioning (EPC),…
REDA Share Price, IREDA Stock Price Updates: IREDA recorded loan sanctions at ₹9,136 crore and loan disbursements at ₹5,320 crore during first quarter ended June 30, 2024, a growth of 382.62% and 67.61%, respectively over corresponding quarter of FY 2023-24. Loan book stood at ₹63,150 crore, a record growth of 33.77%. ALL UPDATES July 01,…
Equity benchmark indices climbed in early trade on Monday amid buying in blue-chip stocks like Reliance Industries and Bharti Airtel along with a rally in Asian markets. The 30-share BSE Sensex rose 69.63 points to 79,102.36 in early trade. The Nifty went up by 37.85 points to 24,048.45. Among the Sensex pack, Maruti, JSW Steel,…
Drugmaker Wockhardt said its investigational antibiotic Zaynich (Zidebactam/Cefepime WCK 5222) was successfully used to treat a cancer patient in the United States, who had chronic bilateral thigh infection caused by an extreme-drug resistant pseudomonas. Also read: Wockhardt Q4 results: Reports net loss of ₹177 crore; antibiotic products show progress This marked the first instance in…
