IL&FS, the distressed infrastructure financier that collapsed five years ago, is set to make its first payment to creditors. The parent company and a unit of IL&FS Transportation Networks will pay around ₹1,600 crore to lenders and bondholders. This is the first recovery for lenders since the company's board was superseded. In addition, lenders will receive approximately ₹700 crore as an interim distribution from ITNL. The recoveries are expected to directly benefit banks, as the accounts are fully provided for.

The Supreme Court has overturned an interim direction by the National Company Law Appellate Tribunal (NCLAT) in the Finolex Group dispute, allowing Orbit Electricals to participate in the voting at Finolex Cables' annual general meeting. The dispute involves the executive control of Finolex Cables between cousins Prakash and Deepak Chhabria. The Supreme Court order grants Orbit Electricals the authority to cast votes related to the appointment of Deepak Chhabria as executive chairperson.

"With a market cap of $140 billion, HDFC Bank is now the seventh largest global large-cap bank. In our view, this can add a second dimension to investors' selection processes, whereby HDFC may now be stacked up against banks in global portfolios, not just for emerging market portfolios, and compared with Indian banks," Jefferies analysts Prakhar Sharma and Vinayak Agarwal said in a note.

Tata AIG General Insurance and HDFC Ergo are in the market raising subordinated debts. HDFC Ergo recently raised ₹320 crore through a 10-year bond offering at an interest rate of 8.15%.

L&T Finance, a subsidiary of listed L&T Finance Holding, had invited offers from ARCs for a portfolio of ₹5,293 crore comprising 16 accounts. It invited offers from ARCs in a combination of security receipts (SR) and cash payment wherein 15% will be paid as upfront cash and the balance 85% as security receipts. It had set a reserve price of ₹2,080 crore.

​​Spend share of SBI credit cards jumped 40% on-year to ₹27,400 crore. HDFC Bank card spends were the highest among peers at ₹39,400 crore while its market share of cards in force fell a percentage point to 20 %.

​​“Strong outlook on FY25 revenue growth, improving margins, and double-digit EPS growth should keep valuations afl oat,” said Morgan Stanley’s analysts Gaurav Rateria and Sulabh Govila in a client note.

Analysts said concerns over the group's debt burden and volatile metal prices due to global headwinds could weigh down the stock in the near term.

Over the last 10 years, the index has gained in seven instances between October and December. The question that traders are asking is whether the seasonal trends in Bank Nifty of the past decade will play out again this time too? A lot will depend on how HDFC Bank and ICICI Bank move in this period.

"We see recent softness driven by higher oil prices as an opportunity to raise exposure," said Nomura's analysts including Chetan Seth, Anshuman Agarwal, and Ankit Yadav in the firm's Asia strategy note to clients. "While this weakness may persist in the near term, thus presenting even better timing, we think the window of opportunity might not be open for too long."

The recent correction has made valuation of large-caps attractive, while the premium valuation of the mid-cap index is a concern, said the firm's head of equity research Pramod Amthe in a note.

The stock touched Rs 400 levels back in October 2010, but failed to hold on to the momentum. It found a base closer to 20 levels in 2020 where it spent considerable time from May to November 2020

The S&P 500 and the Nasdaq are set for their worst monthly showing so far this year, with investors wrestling with the prospects for a long period of high interest rates and an economic fallout. All the three indexes, including the Dow, are eyeing their first quarterly decline in 2023

The Bloomberg report said a full-scale investigation by the Department of Justice focusing mainly on Credit Suisse and potential sanctions violations was now underway.

The inclusion in the index is likely to facilitate $24 billion of inflows between June 2024 and March 2025, with India expected to account for a maximum weight of 10% of the index

The inclusion could serve to lower funding costs slightly, and support further development of domestic capital markets, Fitch said.However, the direct positive effects on India’s credit profile will likely be marginal in the near term, according to the ratings agency.

The group said at an investor day that it expects to distribute about 44% of its cash flow to shareholders in 2023 and set a target of more than 40% beyond 2023.

The board of power utility company CESC on Wednesday approved the issuance of 30,000 non-convertible debentures on private placement basis to raise Rs 300 crore. "Committee of the board at its meeting held today,

The Bloomberg report said a full-scale investigation by the Department of Justice focusing mainly on Credit Suisse and potential sanctions violations was now underway.

Indian equity indices advanced after trading lower in the first half of the day on Wednesday, led by index heavyweight Reliance Industries, L&T, and ITC. The BSE benchmark Sensex surged 0.26% to settle at 66,118, while NSE Nifty ended above the 19,700 level."The short-term trend of Nifty seems to have reversed up and a follow-through up move could confirm short-term higher bottom reversal pattern. Immediate support is placed around 19600-19550 levels and a decisive move above the hurdle of 19750 levels could pull Nifty towards 19950-20000 levels," Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said.Here are the 5 stock recommendations for Thursday:

Global hedge funds placed sizable bearish bets on the American depository receipts (ADRs) of Chinese firms in September, resulting in the value of short interest in these shares surging to $2.1 billion as of Sept. 22, the bank said in a report, citing IHS Markit data.

The account balance of investors will not include the credits on September 28 from intraday profits made in the equity segment on September 27, trades made in NFO, BFO, currency, and commodity derivatives on September 27

H&M, whose biggest rival is Zara owner Inditex, said September sales would fall by 10% year-on-year measured in local currencies. That compares with Inditex reporting a 14% rise in sales between Aug. 1 and Sept. 11.

PSU banks have been in the spotlight with stocks delivering up to 107% returns in FY24. Net Interest Margin (NIM) is a major factor for banks as a higher NIM denotes that the bank is earning more money through the interest than it is paying on bank deposits. Here are the top 10 public sector banks with the highest net interest margins in Q1 FY24. (Source: Stock Edge)

Easing Treasury yields boosted megacaps, while investors awaited developments on a US funding bill and inflation data this week

Ahead of the issue opening, the company raised Rs 62 crore in pre-IPO placement via the rights issue. The Rs 775-crore IPO included a fresh equity issue worth Rs 602 crore and an offer for sale (OFS) of up to 1.21 crore shares. Analysts say the company is well-positioned to capture a significant share as India's travel and tourism industry grows.