RELIANCE CAPITAL INSOLVENCY NEWS
Market Wrap: RIL, IT stocks fire Sensex 1,960 points higher, Nifty tops 23,900. Top 6 factors behind the bull run
Stock Market Today: Indian equity markets surged over 2,000 points, rebounding from a five-month low, driven by positive US job market data and a rally in IT and Adani stocks. Investors capitalized on recent declines, buying into a market buoyed by global gains and a resurgence in PSU bank stocks.
Reliance oversold; a change at helm in Maharashtra could be negative for market margin: Sandip Sabharwal
Indian equity markets are currently experiencing a period of uncertainty, with investors closely watching the outcome of the Maharashtra elections and the ongoing Adani Group controversy. Despite this, certain large-cap stocks, including Reliance Industries and select private banks, are seen as attractive investment opportunities due to their oversold status and strong fundamentals.
DPIIT approves RCap's acquisition by IndusInd International Holdings
The Department for Promotion of Industry and Internal Trade (DPIIT) has given the green light to the ?10,000-crore acquisition of Reliance Capital by IndusInd International Holdings (IIHL). This approval clears the final regulatory hurdle for the deal.
Nifty down nearly 10% from peak, JM Financial picks 39 stocks amid FII sell-off
The Nifty 50 has fallen 9.5% from its September 2024 peak, due to FII outflows and corporate earnings concerns. In response, JM Financial has identified 39 investment opportunities across large, mid, and smallcap stocks, chosen for their 15%+ correction from 52-week highs and growth potential.
Reliance Industries shares in focus after completion of Rs 70,352 crore JV with Disney
Reliance Industries' shares will be in focus following the completion of the Viacom18-JioCinema-Disney merger, valued at Rs 70,352 crore. The joint venture, controlled by RIL, aims to consolidate media assets and create India's largest integrated media platform. With a strong portfolio of content and sports rights, it aims to reshape entertainment options for Indian consumers.
Canara Bank labels Rcom loan accounts as "fraud"
Canara Bank has declared loans given to Reliance Communications and its unit as fraudulent. The bank alleged the Anil Ambani-promoted company misappropriated Rs 1,050 crore by diverting funds for purposes other than sanctioned. Reliance Communications refuted the allegations, stating the loans were taken before insolvency proceedings began and are protected under insolvency laws.
- Go To Page 1
HDFC Securities initiates coverage on Swiggy, sets target price of Rs 430
HDFC Securities has initiated coverage on Swiggy, assigning an "Add" rating with a target price of Rs 430, based on the company's strong brand presence and user base. While the brokerage is optimistic about Swiggy's growth potential in quick commerce, it cautions that operational challenges may affect long-term profitability.
Rs 6.8 lakh crore wiped out: Sensex tanks 984 points. 6 key factors behind Wednesday's panic sell-off
Indian stock markets experienced a significant drop on Wednesday, with the Sensex plummeting over 980 points and the Nifty falling below 23,600. This decline was primarily fueled by a surge in inflation, which dampened expectations of an interest rate cut in the near future. The slump was further exacerbated by disappointing corporate earnings and a consistent outflow of foreign investments.
Why Ambani the hydrocarbon king is betting on a humble business
Reliance Industries, led by Mukesh Ambani, is pivoting towards clean energy by investing heavily in compressed biogas (CBG) plants. This move aligns with India's push for a gas-based economy and aims to utilize agricultural waste to produce cleaner fuel, potentially reducing reliance on LNG imports and addressing the issue of stubble burning.
Jio Financial and RIL among 13 stocks where Quant Small Cap Fund increased stake in October
Quant Small Cap Fund has been actively managing its portfolio, increasing stakes in 13 stocks, including prominent names like Aditya Birla Fashion and Reliance Industries, while reducing exposure in only two. The fund also welcomed four new stocks in October, demonstrating its focus on high-growth companies with attractive valuations.
Hurun India Philanthropy list: Meet the most generous donor in India. It's not Ambani or Tata
Hurun India recently unveiled its list of top philanthropists for 2024, with Shiv Nadar and family maintaining the top position, contributing Rs 2,153 crore. Mukesh Ambani and family followed with a donation of Rs 407 crore. The top 10 donors collectively contributed Rs 4,625 crore in FY24, making up nearly 53% of the total donations on the list. Notably, Krishna Chivukula and Susmita & Subroto Bagchi made their debut in the top 10, securing the 7th and 9th spots, respectively.
Reliance Power shares hit 5% upper circuit on Rs 1525 crore preferential issue approval
Shares of Reliance Power rose 5% to reach the upper circuit limit of Rs 42.47 on the BSE on Thursday after shareholders approved a Rs 1,525 crore preferential issue. The company's members endorsed the special resolution for this securities issuance via postal ballot.
NCLT dismisses ADAVPL¡¯s application to block use of ¡®Reliance¡¯ brand by IIHL
The Mumbai bench of the National Company Law Tribunal (NCLT) has dismissed an application from Anil Dhirubhai Ambani Ventures Pvt Ltd (ADAVPL), which sought to prevent IndusInd International Holdings (IIHL) from using the 'Reliance' brand after its resolution plan for Reliance Capital.
Can Hyundai's entry cushion frothy D-Street attracting weak debutants?
Hyundai Motor India Ltd.¡¯s $3.3 billion IPO is India¡¯s largest and may set a precedent for multinational listings, similar to Colgate-Palmolive¡¯s 1977 IPO. Other firms like LG Electronics and Coca-Cola are considering similar moves, driven by India¡¯s attractive valuations and robust investor base.
Market not volatile enough to take advantage of; prefer big retail to Q-commerce: Deepak Shenoy
Deepak Shenoy of Capital Mind suggests a 10% market dip is ideal for buying. He foresees short-term challenges yet long-term potential for Reliance and D-Mart amid shifting retail dynamics. Shenoy advises consumers to capitalize on current discounts in quick commerce, anticipating regulatory and competitive hurdles for companies like Zomato within the next year.
D-Street's record 11-month stock rally is at risk as profits cool
India's stock market faces a potential slowdown as companies in the NSE Nifty 50 Index are forecast to report flat or low profit growth for the quarter ended September. Factors include weakening consumer spending, rising commodity prices, and disappointing earnings from major players like Reliance Industries and Tata Consultancy Services. Global funds are increasingly diverting investments to China.
India's economic paradox: Balancing startup growth with rising unemployment
India's significant contrasts include booming markets and high unemployment. The nation's aspirational goals hinge on broad-based growth, education reform, startup support, and policy improvements to transition from a developing to a developed economy. Effective deployment of the demographic dividend is crucial.
Ratan Tata years: Profit zoomed 51 times, market capitalization 33 times under his leadership
Ratan Tata, who passed away at 86, led the Tata Group for 21 years, boosting revenues 46 times and profits 51 times. Under his leadership, Tata Group saw major international acquisitions, including Tetley, Corus, and Jaguar Land Rover. Tata Group's market capitalization grew significantly, and Tata Consultancy Services went public, raising $1.2 billion.
Quant Small Cap Fund adds three stocks and exits seven in September
Quant Small Cap Fund, managed by Quant Mutual Fund, added Samvardhana Motherson International, Punjab Alkalies and Chemicals, and Eclerx Services to its portfolio in September while exiting seven other stocks. The fund increased its holdings in 13 stocks like Zydus Wellness and Reliance Industries.
Bank stocks lose weight in Nifty as old world charm of industrials take over
The weight of leading banks in the Nifty 50 index has decreased from a high of 32% in July 2023 to the current 27.7%, according to a Phillip Capital report. This underperformance is attributed to the subpar performance of HDFC Bank, the third largest stock by market capitalization in India.
Reliance Capital Insolvency: NCLAT notice to IIHL on CoC plea for interest for extended time & forfeiture
The NCLAT has issued a notice to IndusInd International Holdings Ltd over a plea by Reliance Capital's lenders seeking interest on delayed payments and forfeiture of Rs 2,750 crore in case of default. The lenders want modifications to an NCLT order extending the payment deadline for IIHL's Rs 9,861-crore resolution plan.
IndusInd Intl to raise Rs 3,000 cr via NCDs to fund Reliance Capital buyout
IndusInd International Holdings plans to raise ?3,000 crore through non-convertible debentures to finance its acquisition of Reliance Capital. The NCDs will be zero-coupon, senior secured, and redeemable, maturing in 2028. The Hinduja Group aims to raise a total debt of ?7,300 crore for the acquisition, with part of it from private credit funds.
Sudip Bandyopadhyay on 2 stocks to buy if the market falls further
Sudip Bandyopadhyay of Inditrade Capital highlights investment opportunities in Larsen & Toubro and Reliance amid market corrections. He also discusses the potential of domestic-focused pharma companies like Mankind Pharma and Sun Pharma. Additionally, he addresses concerns regarding Vodafone Idea's financial health and the impact of oil price changes on oil marketing companies and the paint sector.
Reliance plans Rs 3.9k-cr infusion into FMCG unit to step up play
Reliance is set to inject up to ?3,900 crore into its FMCG division, Reliance Consumer Products Ltd (RCPL), through a combination of equity and debt. This significant capital infusion aims to enhance its competitive stance against major players like Hindustan Unilever, ITC, and Coca-Cola.
Lenders to RCAP accuse IIHL of using delaying tactics, company denies allegations
Lenders to debt-laden Reliance Capital have accused Hinduja Group's IIHL of delaying the resolution plan approved by NCLT for Rs 9,861 crore. IIHL awaits approval from India's DIPP. NCLT has directed RBI and DIPP to expedite this process, with a hearing set for September 19, 2024.
Reliance aims to make Jamnagar the energy capital of the world; unveils big plans for its new energy biz
Reliance Industries Limited's Chairman, Mukesh Ambani, has announced plans to make Jamnagar the world's energy capital, including solar photovoltaic module production by year-end. Ambani expects the new energy business to become profitable within 5-7 years.
Anil Ambani weighing legal options after Sebi ban order
Anil Ambani is contemplating legal recourse following a five-year ban from the stock market and key managerial roles by Sebi due to accusations of fund mismanagement at Reliance Home Finance. The order includes a ?25 crore fine, with Sebi¡¯s investigation exposing complicated loan transactions. Ambani, who resigned from reliance¡¯s boards earlier, might appeal the order. Reliance Power and Reliance Infrastructure are unaffected by this ban.
Reliance Cap resolution: NCLT to hear IIHL plea for deadline extension on June 20
The National Company Law Tribunal (NCLT) will hear a plea from Hinduja Group firm IIHL on June 20 for an extension of the deadline to complete Reliance Capital's resolution. IIHL, the successful bidder for Reliance Capital, seeks a 90-day extension beyond the May 27, 2024 deadline set by NCLT Mumbai for completing the Rs 9,650-crore resolution plan. Reliance Capital, the financial services arm of Anil Ambani Group, had its board superseded by the RBI in November 2021, and IIHL's resolution plan was approved by NCLT in February 2024.
Reliance Capital administrator seeks 90-day extension from NCLT to implement resolution plan
Reliance Capital's administrator has filed a request for a 90-day extension to implement a resolution plan submitted by the Hinduja Group, which was approved by the National Company Law Tribunal (NCLT) Mumbai. The resolution plan, approved by the tribunal, was for IndusInd International Holdings Ltd's Rs 9,650-crore plan. Reliance Capital's board was replaced by the Reserve Bank in November 2021 due to governance issues and payment defaults. The company's debt is over Rs 40,000 crore.
Load More
