Hyundai: South Korean Car Manufacturer Poised for India’s Biggest IPO
Hyundai Motor’s India Unit Seeks Approval for Mumbai Stock Market Listing Hyundai Motor’s India unit…
Goldman Sachs Raises India 2024 GDP Forecast to 6.7%; Anticipates RBI Rate Cut in Q4
Goldman Sachs revised upwards its forecast for India’s gross domestic product (GDP) growth for calendar year 2024 (CY24) by 10 basis points (bps) to 6.7 per cent, and expects the Reserve Bank of India (RBI) to cut interest rates in the fourth quarter of the current calendar year (Q4-CY24) / third quarter of the current…
Sustained Fiscal Deficit Reduction Positive for India’s Ratings, Says Fitch
Fitch Ratings stated on Monday that a sustained reduction in India’s fiscal deficit, especially if supported by durable revenue-raising reforms, would positively impact the country’s sovereign rating fundamentals over the medium term. The Reserve Bank of India’s (RBI) larger-than-expected surplus transfer to the government should help meet the deficit target of 5.1 percent of GDP…
Hyundai: South Korean Car Manufacturer Poised for India’s Biggest IPO
Hyundai Motor’s India Unit Seeks Approval for Mumbai Stock Market Listing Hyundai Motor’s India unit has applied for regulatory approval for a stock market listing in Mumbai, potentially marking the country’s largest IPO and involving the sale of up to 17.5% of the company by its South Korean parent. This IPO would make Hyundai the…
Hyundai Motor India to shortly file for country’s largest IPO, aiming for $3 billion with valuation target of $18-20 billion
Hyundai Motor India is set to launch an IPO soon. The Indian subsidiary of South Korean auto giant Hyundai Motor Co, Hyundai Motor India Limited, is preparing to file draft papers with market regulator SEBI to raise approximately $3 billion through an initial public offering (IPO) at a targeted valuation between $18 billion and $20…
Compensation Claims Plummet Amid Intensified Sebi Crackdown
The Securities and Exchange Board of India (Sebi)’s rigorous measures against stockbrokers’ misuse of client funds and securities have resulted in a significant decline in compensation claims filed by defrauded investors since the peak during the Karvy scandal. In FY24, the National Stock Exchange (NSE) received 164 compensation claims, a sharp drop from 758 claims…
ITC Shareholders Approve Hotel Business Demerger with 99.6% Majority Votes
On Thursday, ITC shareholders approved the company’s plan to carve out its hotels business, aligning with the recommendations of key proxy advisors. Approximately 99.6% of the tobacco-to-soap firm’s minority shareholders voted in favor of the move, surpassing the regulatory requirement of a three-fourths majority. Following the vote’s outcome, the company’s shares closed 1.2% higher, having…
Adani Ports, Adani Energy, Adani Green, and other Adani Group stocks continue to suffer losses, with declines of up to 14%.
Adani Group stocks, including Adani Enterprises, Adani Ports, and Adani Energy Solutions, saw a decline of up to 14% on Wednesday, continuing their sharp fall from the previous session following the Lok Sabha election results of 2024. Shares of Adani Enterprises, Adani Energy Solutions, Adani Ports & SEZ, Adani Green Energy, Adani Power, Adani Total…
High Growth in GDP Expected to Postpone Monetary Easing
Economic Insights from May 31st Data Release The latest data released on May 31st provides valuable insights into the performance of the Indian economy in Q4 FY2024 and April 2024. Here are the key findings: GDP Growth and Industrial Performance: Factors Influencing Q4 FY2024 GDP Growth: Industrial Sector Dynamics: Agricultural Sector and Monsoon Forecast: Urban…
Maruti Suzuki India sales declined by 2% in May, reaching a total of 174,551 units.
Total domestic passenger vehicle sales experienced a slight uptick last month, reaching 1,44,002 units compared to 1,43,708 units in the same period last year. Additionally, Maruti Suzuki India (MSI) reported a decrease in exports, with numbers falling to 17,367 units from 26,477 units in the same period last year.
Battrixx and EVE Power will collaborate on Battery Energy Storage System (BESS) solutions in India.
Kabra Extrusion Technik Ltd. (BSE: 524109, NSE: KABRAEXTRU, ISIN: INE900B01029) and Eve Power Co. Ltd. (EVE) have agreed to collaborate on delivering advanced Battery Energy Storage System (BESS) solutions in India. In this partnership, EVE will supply battery cells and DC-side ESS products to Kabra, which will then assemble and integrate these products at its…
Demat account contribution to financial inclusion
In recent years, especially following the Covid-19 pandemic, the emphasis on financial inclusion has significantly increased globally. The pandemic highlighted existing disparities in access to financial services and underscored the urgent need for economic equality and opportunities for everyone, regardless of their socioeconomic status. Financial Inclusion: A Necessity Definition: Financial inclusion ensures that everyone can…
Reliance Plans to Launch JioMart’s Under-30-Minute Delivery in June
Reliance Industries is set to enter the quick commerce sector next month, with JioMart planning to launch deliveries within 30 minutes, according to a May 29 report by the Times of India, citing sources familiar with the development. Initially, the service will deliver groceries in 7-8 cities, with plans to gradually expand to over 1,000…
