Bupa is likely to pick up as much as 15-20% stake from True North, at a valuation of ₹11,000-12,000 crore, the sources said. Bupa currently holds a 44.42% stake in the health insurer. Indian insurance sector regulations permit foreign investors to hold up to 74% stake in an insurance company.

This surge comes at a time when companies are facing the challenges of high-interest rates and volatility in the equity market, requiring stretched borrowers to explore private credit as an alternative for raising capital.

Sebi's investigation found that Eros' books were overstated and didn't present a true picture of its financial health. It observed that Eros transferred funds in the name of content advances and subsequently recognised them as revenue by routing them through trade receivable entities.

PNB Housing Finance also plans to borrow about Rs 2500 crore from National Housing Bank through the latter's refinancing window, besides bank borrowing.

Prudent ARC's binding offer of ₹311 crore has triggered a Swiss challenge auction for the hotel properties with total loans of ₹507 crore. Prudent's offer equates to a recovery of 61% for the housing finance company. HDFC has invited counteroffers from other asset reconstruction companies (ARCs) by June 26, a notice issued by the housing finance company stated.

According to two sources familiar with the matter, the discussions have reached an advanced stage, and the loan is expected to be sanctioned soon.

So far in June, an average 49.5 lakh HDFC shares have exchanged hands on both the exchanges. This is 27% more than the average traded volume in the previous month, stock exchange data showed.

The new rule allows such investments to be either sold to a new scheme of the same AIF - liquidation scheme or distributed in-specie to the investors of the original AIF. An in-specie distribution involves the distribution of the investments such as shares or other securities of the AIF to its investors, instead of returning their capital in the form of cash.

It is directed that Authorised Persons may facilitate remittances by resident individuals under purpose 'studies abroad' as mentioned in Schedule III of Foreign Exchange Management Rules, 2000, for payment of fees to foreign universities or foreign institutions in IFSCs."

The RBI has asked lenders to put in place board-approved policies for undertaking compromise settlements with the borrowers as well as for technical write-offs. The rules formalised by the board will also specify proposals for compromise settlements in respect of debtors classified as fraud or wilful defaulter.

"This is because the RBI requires CCPs it designates as an FMI to comply with the PFMIs (Principles on Financial Market Infrastructures). Accordingly, HM Treasury has determined that the RBI's legal and supervisory framework, in relation to CCPs that the RBI has designated a FMI, meets the tests set out in paragraphs 6.2," the documents read.

Short-term traders can accumulate the stock as it is on the verge of breaking out from this pattern, confirming a bullish bias. The neckline is placed at levels around Rs 1,650-1,670, which acted as strong support for the stock in the past.

Federal Reserve Governor Michelle Bowman has suggested that "additional policy rate increases" will be needed to bring down the high level of inflation that has held steady since late last year. Bowman believes that more rate increases will be necessary to keep inflation in check. At least two more quarter-point rate hikes are expected during the four remaining Federal Reserve meetings of 2023

The S&P 500 and the Dow had a mixed session on Thursday as Federal Reserve Chair Jerome Powell continued to promote the likely need for further interest rate hikes. Gains by growth stocks, including Amazon, Microsoft and Apple, further added support, however financial markets are still calculating only a 25-basis-point rate increase in July and no further hikes.

ICICI Prudential Mutual Fund (MF), Kotak Mahindra MF, SBI Life Insurance Company, Societe Generale, Public Sector Pension Investment Board, and International Monetary Fund, among others, were buyers of shares.

India's Securities and Exchange Board has banned seven companies, including Bharat Mohanlal Mehta, Impressive Trading and Lalita Bharat Mehta, from the securities market for three years for breaching insider trading regulations. The companies are also required to disgorge the equivalent amounts of the losses illegally avoided. The regulator alleged in the show cause notice that Sovin Trading and Sunrath Trading have violated the provisions of the prohibition of insider trading regulations. Insider trading is negative for ordinary investors because those personnel making illegal gains on unpublished sensitive information act at the cost of investors who are not privy to that information.

Private equity firm Carlyle Group has sold its entire 2.53% stake, equivalent to 1.84 crore shares, in supply chain management company Delhivery. Carlyle sold the stake for a sum of INR709 crore ($93.4m) in a block deal. Norges Bank acquired around 0.55% in Delhivery, while Goldman Sachs and Morgan Stanley each purchased 0.07%, and Société Générale picked up a 0.31% stake. Avendus, Citigroup, Barclays, Regal Investment Fund, and the Saudi Central Bank were among the other buyers. Carlyle had first invested in Delhivery in 2017 in a $100m funding round.

Emkay Wealth recommends dynamic asset allocation for larger portfolios amidst India's peak markets, while smaller portfolios follow basic allocation aligned with the client's risk profile. The firm favors structural growth firms over cyclical ones and expects select mid and small caps to outperform with relatively easier valuations. Emkay Wealth predicts that, whilst all three asset classes - equity, fixed income, and gold - generate returns, selective exposure is better. Investors should closely monitor the central banks' moves and the impact of macroeconomic factors. Meanwhile, domestic investors continue to pour money into equities.

Alok Industries and Saregama India have formed Doji and Near Doji patterns on the technical charts, which are neutral patterns suggesting indecision in the market. The Doji pattern indicates a potential trend reversal requiring confirmation from subsequent price action. The lack of an increase in buying or selling activity often causes this pattern to form. Investors should assess the companies' financials, debt restructuring, industry dynamics, content acquisition and expansion strategies and confirm the pattern with strong bullish or bearish candle and analyse the accompanying volume to make informed decisions.

Several stocks, including Alkyl Amines Chemicals, IRB Infrastructure Developers, Gujarat Ambuja Exports, SRF, and Aegis Logistics, are trading below their 200-day Simple Moving Average (SMA). It is important to take a comprehensive approach to investment and evaluate a company's long-term fundamentals, strategic initiatives, and potential catalysts that could drive future growth. Thorough research, monitoring industry trends, and analyzing company-specific factors are crucial for making informed investment decisions aligned with investment goals. Investors should focus on analyzing the long-term financial health, growth prospects, and industry trends of these stocks.

Mirroring weak global cues, equity indices ended Thursday’s session on a weak note with Nifty plunging 86 points to 18,771 levels. Meanwhile, after courting gains over the last few days, broader markets also fell substantially. Sectorally too, there was a broad-based sell-off, with only the metal sector defying the larger trend.“The current trend seems to be sideways to negative as long as the index remains below 18,900. On the downside, a support level is identified at 18,700. If the index decisively falls below this level, it may trigger a significant correction in prices,” said Rupak De, Senior Technical at LKP Securities.Here are stock the recommendations for Friday:

The US Federal Reserve needs to raise interest rates again to combat high inflation, according to Fed governor Michelle Bowman. The central bank last week ended a year-long campaign to tighten monetary policy after raising interest rates 10 times, leaving its benchmark lending rate at 5-5.25%. Bowman, a voting member of the Fed's rate-setting committee, said its current tight monetary policy had some effect but inflation remained "far too high". She expects a "sufficiently restrictive" policy would require higher interest rates. A large majority of Federal Open Market Committee members believe two more hikes are needed this year.

The Reserve Bank of India's (RBI) monetary policy committee members have differing opinions on future rate hikes, as per the latest meeting minutes. Some external members have argued that further tightening could hamper the economic recovery, while all three internal members of the RBI have remained focused on risks to inflation. While annual retail inflation is within the RBI's inflation band of 2%-6% for the third straight month, the RBI governor said the fight against inflation is not over, and the committee should undertake a future assessment of the evolving inflation-growth outlook and be ready to act as needed.

Reserve Bank of India's Governor, Shaktikanta Das, has stated that their job is only halfway done in regards to bringing inflation within the target band. During the MPC meeting, the Governor kept the short-term lending rate unchanged due to India's strengthening macroeconomic fundamentals, improving growth prospects, eased inflation, and improved external sector outlook. Despite this progress, Das believes that the fight against inflation is not over and the RBI must undertake a forward-looking assessment of evolving inflation-growth outlook and stand ready to act if the situation requires.

Dow falls 51.05 points, S&P 500 opens lower by 10.29 points and Nasdaq Composite drops 58.79 points at the opening bell

Although benchmark index Sensex declined 284 points and closed at the 63,239 level on Thursday, seven stocks from the BSE financial services index exhibited resilience against the market decline and reached new 52-week highs. The 52-week is a crucial technical indicator for traders and investors as it helps in the assessment of a stock's present worth and the prediction of future price trends. Essentially, it represents the highest price at which the stock has been traded in the previous year

The market regulator has restrained Pradeep Kumar Dwivedi from holding any directorial position in any listed company other than Eros International.

Several companies in S&P BSE Smallcap stocks have approached their 52-week high levels, including Arvind, Kirloskar Industries, Waaree Renewable Technologies, AstraZeneca Pharma, Safari Industries, and KEI Industries, showcasing their strong momentum and growth potential. Arvind, a textile manufacturer, and AstraZeneca Pharma, a pharmaceutical company, both near their 52-week high marks, demonstrate stability and ability to deliver innovative solutions in their respective industries. Safari Industries, a luggage and travel accessories brand, and KEI Industries, a player in electrical cables and wires industry, also exhibit strong momentum and growth potential.

The market regulator has restrained Pradeep Kumar Dwivedi from holding any directorial position in any listed company other than Eros International.

Several prominent companies listed in the BSE200 index, including Tube Investments of India, Supreme Industries, Bank of Baroda, and Bharat Electronics (BEL), have hit new 52-week high levels, showcasing their strong performance and growth potential. These companies represent diverse sectors and highlight their technological expertise, market leadership, and solid fundamentals. These milestones reflect the resilience and growing investor confidence in the banking sector, defense industry, and plastic and packaging industry.

Nine stocks from the BSE500 index have rebounded impressively from their 52-week lows, showcasing their resilience and potential for future growth. The top performers include Hindustan Aeronautics, Tube Investments of India, KEI Industries, Adani Enterprises, Apar Industries, Ceat, Raymond, Cyient, and Tanla Platforms, which have all risen over 100% from their lows. The recoveries reflect these companies' strong fundamentals, successful growth strategies, and market positions within their respective industries, indicating potential for future success.

Eight Indian stocks with market caps over Rs 75,000 crore that recently suffered from a Bearish MACD Crossover have been identified by ETMarkets. The Moving Average Convergence Divergence line crossing from above to below the signal line suggests a potential bearish trend reversal, making it a warning sign for technical analysts. The eight companies are: Cholamandalam Investment & Finance, ABB India, Infosys, Asian Paints, UltraTech Cement, Tata Motors, Sun Pharmaceutical Industries and Shree Cements. Investors should be warned, however, that conduct thorough research and consider your risk tolerance before making any investment decisions.

ETMarkets has identified 8 stocks with the RSI above 75, meaning they are overbought, using the ETMarkets screener. The stocks on the list are chosen based on a market cap of over Rs 50,000 crore. The includes Shriram Finance, Britannia Industries, SBI Life Insurance, Torrent Pharmaceuticals, ICICI Prudential Life Insurance, HDFC Life Insurance, Life Insurance Corporation of India and Tube Investments of India. Investors should monitor market trends and industry developments for these companies before making decisions.

Indian benchmark index Nifty formed a bearish candle on the daily chart, indicating a short-term reversal pattern on the downside. It ended with an 85.6-point loss at just one point below its previous peak. The index should hold above 18,777 zones to witness upward movement towards 18,888 then 19,000 zones. Analysts predict immediate trading support at 18,710 and 18,666 zones. The broader trading range is expected between 18,550 and 19,000 zones. Technical analysts suggest support zones at 18,700-18,660 and a resistance zone at 18,880-18,900.

Waterfield Financial and Investment Advisors has introduced Discretionary Investment Services for HNIs and UHNIs. This service is a fee-based, multi-asset portfolio management system governed by a transparent, personalised investment policy statement that aims to align with an investor's interests. Waterfield will offer an execution platform for client investment, while its advisory approach will remain for the selection of portfolio construction and investment. The Discretionary Investment Services is customised for different segments offering the service uniquely tailored solutions to meet their needs.

Stocks in focus included names like Shriram Finance, which pared gains after hitting a fresh 52-week high, KEI Industries, which rose nearly 5%, and Swan Energy, which rose nearly 8% with a rise in volumes on Thursday.

Five companies, Ganesh Housing Corporation Ltd, Transport Corporation of India Ltd, Bandhan Bank Ltd, Varroc Engineering Ltd, and Kalyan Jewellers India Ltd, have recently formed a Golden Crossover pattern on the technical charts, making them potential investment opportunities. A Golden Crossover indicates a stock's trend is shifting positively from bearish to bullish, providing an opportunity for technical analysts. However, investors should conduct due diligence on these companies' financial health, market conditions, growth prospects, and competitive positioning before making investment decisions. Past performance is not necessarily indicative of future results.

Accenture forecast current-quarter revenue in the range of $15.75 billion to $16.35 billion. Analysts on average expect revenue of $16.35 billion, according to Refinitiv data.

Investor behaviour is influenced by several biases that can cloud judgement, resulting in suboptimal investment decisions. Some of these biases include self-attribution, herd mentality, trend-chasing, loss aversion, disposition effect, representativeness, confirmation bias, familiarity bias, and recency bias. Investors should identify and understand these biases to avoid their ill effects.

BoE has increased interest rates higher than the predicted 0.25% increase, following the increase in British inflation and wages since its last meeting in May. The move, which is its biggest rate increase since February and takes the rate to its highest since 2008, was decided by a 7-2 vote by the Monetary Policy Committee

ETMarkets has listed seven stocks with a market capitalization over Rs 10,000 crore that have recently experienced a Bullish MACD Crossover indicating a potential upward trend. A Bullish MACD Crossover is a signal when the MACD line crosses above the signal line which helps identify potential changes in a stock's trend, from bearish to bullish momentum and is often considered a buying opportunity by technical analysts. The list includes companies from various sectors such as natural gas distribution, textile, banking, agri-inputs, iron ore mining, and steel.

Among the Sensex stocks, Bajaj Finance and Asian Paints were the top laggards, falling nearly 2%. Tata Motors, Power Grid, NTPC, Infosys, Nestle, UltraTech Cement, and Indus Ind Bank also closed in the red.

CLSA has downgraded IDFC First Bank from 'buy' to 'underperform', causing a 6% fall in the bank's shares. The brokerage firm also lowered the target price for the stock to Rs 85. Despite the downgrade, Elixir Equities' Dipan Mehta praised the bank's efforts in assembling retail deposits and having some of the best net interest margins in the sector. While IDFC First Bank's share price has more than doubled over the last year, valuations are being stretched at roughly 1.8 times 1-year forward PB.

Debt mutual fund schemes have outperformed equity mutual funds in recent months, benefiting from inflows totalling INR 1.5 lakh crore ($22bn) during April and May, compared to just over INR 7,200 crores across all equity mutual fund categories. Adil Shetty, the CEO of BankBazaar.com, suggested that equity underperformance strayed from a variety of reasons: investor liquidity needs, profit-taking as markets edge towards new highs, and higher bond yields making debt funds more attractive. Nonetheless, experts have cautioned against an investment exclusively in debt funds and urge rebalancing portfolios to reduce risk and boost wealth.

ETMarkets' current mutual fund analysis centres on stocks held exclusively by a single scheme. Initially, the list comprised 179 such stocks in the month of May. However, to narrow it down, we only took into account those with a market value exceeding Rs 20 crore as of May 2023 and witnessed a price surge of over 50% in the fiscal year 2024 up until now. By applying these criteria, a total of nine stocks successfully met the requirements. (Data Source: ACE Equity)

Benchmark indices Sensex and Nifty retreated from record levels and closed lower in a volatile trade on Thursday due to profit-taking in financials, IT and oil shares after a two-day rally and negative trends in the US and European markets. The 30-share BSE Sensex fell by 284.26 points or 0.45 per cent to settle at 63,238.89. The BSE benchmark hit an intra-day all-time peak of 63,601.71 in initial deals. However, the benchmark index faced volatile trends and declined 322.52 points or 0.50 per cent to a low of 63,200.63 during the day. The NSE Nifty closed lower by 85.60 points or 0.45 per cent to end at 18,771.25.

Six stocks have displayed the Bullish Strong Line pattern, indicating a bullish reversal pattern within a downtrend. Shriram Finance, Tejas Networks, Affle (India), UCO Bank, Piramal Enterprises, and KPR Mill have all shown potential for a reversal despite negative 1-day returns. Investors should consider the company's fundamentals and conduct thorough research before making investment decisions. However, the Bullish Strong Line pattern cannot guarantee a reversal, and investors should consider their risk tolerance.

Among the Sensex stocks, Bajaj Finance and Asian Paints were the top laggards, falling nearly 2%. Tata Motors, Power Grid, NTPC, Infosys, Nestle, UltraTech Cement, and Indus Ind Bank also closed in the red.

MACD or Moving average convergence divergence is a momentum indicator used in stock market technical analysis. The metric shows the relationship between 2 moving averages of prices. For calculating MACD, 26-day EMA is subtracted from 12-day EMA. Further, a 9-day EMA of the MACD called the signal line, is plotted on the top of the MACD, which provides the likely trading strategy in a stock i.e. a buy or a sell.So, here are the 3 midcaps signalling a buy based on MACD movement. (Source: StockEdge)

Supertrend indicator helps traders decide by giving them a relatively precise ‘buy’ or ‘sell’ signal in a trending market. StockEdge data shows stocks that are signalling a ‘buy’. Average true range (ATR), considered on a default basis, is of 10 days and the multiplier is 3. So, here are the 3 Nifty500 stocks for which a ‘buy’ signal is being witnessed.