Trade Spotlight | What should you do with Larsen & Toubro, IIFL Finance, Brigade Enterprises on Wednesday?
IIFL Finance has made long bullish candlestick pattern on the daily charts with strong volumes, making higher high for fourth consecutive session. It has seen a breakout of horizontal resistance trend line adjoining multiple touchpoints - November 28, December 27, 2022, January 2, and January 13, 2023.
Below Rs 130, Nykaa can see deeper cuts: Sudeep Shah
“Ahead of the Budget, the 17,750-17,800 zone has become very crucial. From a short-term perspective, 17850, 17 900 and 17950 puts have seen a lot of additions. That means lower levels around 17900, 17930 for the day should act as a strong support. On the upside, if we see 18,000 strike price call, that is where the highest open interest is placed.”
Fairfax-backed IIFL Finance will issue secured redeemable NCDs, aggregating to Rs 100 crore, with a green-shoe option to retain oversubscription up to Rs 900 crore (aggregating to a total of Rs 1,000 crore).
Ahead of Market: 10 things that will decide D-St action on Wednesday
“Domestic sentiments were dented in line with global peers after the Bank of Japan (BoJ), in a surprise move, raised interest rate by 25 bps to 0.5%. Further, rising death cases in China after easing Covid-19 restrictions instilled more fear. Nifty opened the gap down and witnessed selling pressure for the most of the session," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
General Atlantic sells 3.5 pc stake in IIFL Wealth Management for Rs 564 crore
The entity is managed and controlled by US-based private equity firm General Atlantic.The shares were sold at an average price of Rs 1,810.09 apiece, taking the transaction value to Rs 564 crore.Post the latest transaction, General Atlantic's shareholding in the company will reduce to 17.46 per cent from 20.96 per cent.
Hot Stocks | Healthy double-digit return possible in Praj Industries, IIFL Finance, IRB Infrastructure. Here's why
IRB Infrastructure Developers is again gaining momentum after building a strong base at Rs 200 mark. On the weekly chart, we can observe a breakout of the Flag formation, while there is a breakout of the bullish Inverse Head and Shoulders formation on the daily chart.
IIFL Finance rises over 6% as Q2 PAT surges 36% YoY
The firms annualized ROE and ROA for the second quarter of the financial year 2022-23 stood at 20% and 3%, respectively. Core pre-provision operating profit stood at Rs 685 crore for the quarter up 23% year-on-year (YoY). The average borrowing costs of the company for the quarter fell 3 bps quarter-on-quarter (QoQ) and 29 bps YoY to 8.4%.
IIFL Finance buys back $500 million overseas bonds
IIFL Finance bought back overseas bonds worth $50 million, to reduce the cost of borrowing by up to 200 bps, reports Our Bureau. The non-banking finance company had earlier sold dollar bonds worth $400 million in February 2020. This is the second buyback after March 2022. IIFL Finance offered 5.87% coupon at issuance. The bonds mature in April 2023.
CDC Group sells 3.56 pc stake in IIFL Finance for Rs 453 cr
The shares were disposed of at an average price of Rs 335.64 apiece, valuing the transaction at Rs 453.16 crore.Meanwhile, Morgan Stanley Asia Singapore Pte picked up the shares of the company.As of the June quarter, CDC Group plc, which is one of the public shareholders of IIFL Finance, owned 1.35 crore shares, amounting to a 3.56 per cent stake in the company, the shareholding pattern showed.
CCI approves acquisition of stake in IIFL Home indirectly by ADIA Group
IIFL Home is a housing finance company and is a wholly-owned subsidiary of IIFL Finance Limited. Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices in the market place
Hot Stocks | Godrej Consumer Products, Torrent Pharma, IIFL Finance can give up to 14% return in short term
Torrent Pharma has broken out from the bullish “Flag” pattern on the daily chart. After four sessions of running correction, it has resumed its uptrend. Stock price has surpassed the previous swing high resistance of Rs 2,918.
Ahead of Market: 10 things that will decide stock action on Tuesday
Wall Street's main indexes fell after opening higher on Monday, as a rally last week on easing concerns over inflation lost steam, with high-growth stocks leading declines. At 10:11 a.m. ET the Dow Jones Industrial Average was down 76.62 points, or 0.24%, at 31,424.06, the S&P 500 was down 13.94 points, or 0.36%, at 3,897.80 and the Nasdaq Composite was down 78.44 points, or 0.68%, at 11,529.19.
IIFL Finance gets board's approval to raise Rs 5,000 cr by issuing bonds
"The board of directors of the company at their meeting held today, June 23, 2022, approved the raising of funds by way of issuance of secured redeemable non-convertible debentures with the shelf limit of Rs 50,000 million, in one or more tranches,"it added.
CCI approves BC Asia Investments' stake acquisition in IIFL Wealth Management
BC Asia Investments X Ltd is indirectly held by Bain Capital Investors LLC (Bain Private Equity), Bain Capital Credit Member LLC and Bain Capital Member II (together Bain Credit) and the Canadian Pension Plan Investment Board (CPPIB).
Big Movers on D-St: What should investors do with Suzlon, Indiabull Housing Finance and IIFL Finance?
Stocks that were in focus included names like Suzlon which fell more than 3 per cent, Indiabulls Housing Finance which fell by over 4 per cent, and IIFL Finance which rose by over 7 per cent on Friday.
These BSE500 stocks shot up 10-39% even as bears tightened grip on D-Street
On the sectoral front, S&P BSE Bankex dropped 2.3 pent, while BSE IT index slumped 2.8 per cent. BSE Metal index lost 2.7 per cent while the realty index shed 1.6 per cent. BSE Oil and Gas index, however, notched up gains of 0.6 per cent for the week, likely buoyed by a sharp rise in global crude oil prices.
Market should give up some more gains before becoming attractive: Sandip Sabharwal
“Whereas most of the global markets have corrected significantly, Indian markets are still down 3-4% for this year as of yesterday. Interest rates have moved up substantially over the last one month, bond yields are at two-three year highs and there is inflation all around. Consider pharma stocks but avoid IT for now.”
ADIA to buy 20% in IIFL Home Finance, largest such investment in the space
The deal will unlock value in IIFL Finance, which has a ₹52,000 crore loan book and market capitalisation of ₹12,500 crore. IIFL Home Finance has a loan book of ₹24,000 crore and market value of ₹11,000 crore.
No impact of Sebi’s front-running ruling on AMC, wealth business: IIFL AMC
“IIFL Asset Management Limited hereby clarifies that certain media reports on the Securities Exchange Board of India (SEBI)s order dated June 3, 2022, captioned ‘Front Running by Employee of India Infoline Group are grossly misleading,” the AMC said in a statement.
Sebi bans 6 persons from securities market in IIFL Group front running case
Sebi has barred Santosh Brijraj Singh and Adil Gulam Suthar from the market for five years while Virendra Pratap Singh, Neha Virendra Singh, Gulammohammed Gulamabbas Shaikh and Mohammedidrish A Shaikh have been restrained for two years.