The board of REC has approved fundraising of up to Rs 1.2 lakh crore under different debt instruments for financial year 2023-24. The funds will be raised for different maturities, through different instruments, depending upon the actual requirement of funds, asset-liability position and prevailing market conditions.

PhonePe has already raised nearly $450 million in primary capital from PE major General Atlantic, Tiger Global, Ribbit Capital, among others, in this current funding round at a valuation of $12 billion. Some of the existing shareholders in Flipkart like Bansal, Tiger Global, China’s Tencent, Qatar Investment Authority and Microsoft, were expected to buy a fresh stake in PhonePe, as the company put together a new ownership structure.

If a deal takes place, this will be the second-largest hospital buyout in India after the IHH-Fortis transaction of 2018.

It is extremely likely that the funds for the transaction, if it were to go ahead, would be drawn from India allocations of the private equity firms in the fray, and negotiations are being done by the India teams of the respective PE firms

While the overall retail APE for the industry rose 10.5% on a year-on-year basis, helped by private players expanding at 18%, LIC's retail APE declined by 3% over the same period. The low growth resulted from a likely pre-booking of high-ticket non-ULIP policies in February and March 2023 to avoid the impact of taxation change proposed in the FY24 union budget, according to an Emkay report.

The listed Asian Hotels (West), which operates Hotel Hyatt Regency near Mumbai airport, was admitted for corporate insolvency proceeding last September. K Raheja Group's entity Unique Estate Development submitted an EoI, while the other applicants include GVPR Engineers, Jindal Power, and two consortiums.

According to the bulk deal data available with the National Stock Exchange (NSE), Bessemer India Capital Holdings II sold a total of 68,11,313 shares, amounting to 7.75% stake in the company.

​​The firm’s top picks in these segments are Crompton Consumer, V-Guard Industries, Amber Enterprises, Finolex Industries and Supreme Industries. Based on Jefferies’ price targets, these stocks could return between 11% and 44%.

The central banks in 2021 reviewed the foreign exchange system to rationalise and streamline it, but that may remain incomplete unless the Foreign Exchange Dealers Association of India also doing its part in reviewing its guidelines, RBI deputy governor Rajeshwar Rao said.

"The overall trend still remains in a bearish to sideways mode," said Rohan Patil, technical analyst at Samco Securities. "Support for Nifty is placed at around 17,400 -17,350 levels and resistance are capped at 17,800 levels."

Piramal has asked interested bidders to submit expressions of interest where the offer amount is a mark-up of at least 10% to the base offer of ₹2,550 crore. The bids can be made in all cash basis or cash-plus-security receipts basis, where 15% of the bid amount will be paid in cash and the remaining in security receipts. Security receipts are quasi debt instruments, which are redeemed when the ARC recovers the underlying debt.

The stock hit a fresh 52-week high of Rs 162 on December 8, 2022 --- something last seen in April 2018. Short-term traders are advised to consider buying the stock now or on dips towards Rs 152-155.

Satisfactory rise in weekly jobless claims eases some rate-hike jitters. Key payrolls report, to be released shortly, will determine Fed's monetary policy path.

Will Federal Reserve refrain from speeding up the pace of interest rate hikes?

Latest numbers are a testimony to Japan's fragile recovery, even though the easing of curbs related to Covid-19 has helped.

Presently with a market share of 5% across key regions in India, Bira 91 has tripled its pre-COVID numbers.Brewer refrained from disclosing valuation or MUFG's stake in it after funding round.

As of December-end, the promoter held over 20% stake in Gokaldas Exports. Aditya Birla Sun Life and Goldman Sachs were buyers of co shares today

Satisfactory rise in weekly jobless claims eases some rate-hike jitters. Key payrolls report, to be released shortly, could determine Fed's monetary policy path.

On Thursday, benchmark index Sensex saw a decline of around 542 points and reached 59,806. Despite the overall market downturn, 4 stocks from the BSE midcap index managed to scale new 52-week highs. The 52-week high is a significant technical indicator used by some investors and traders to analyse a stock's current value and forecast its future price movements. It is the highest price at which a stock has traded over the past year.

Transaction took place at a 7% discount to the stock’s previous market close. On the contrary, Fidelity Funds, Nomura Trust and Banking Co bought the co’s shares

The Bank of Japan will conclude Governor Haruhiko Kuroda’s final meeting Friday, with global investors remaining on high alert for a surprise parting shot from Kuroda that may jolt financial markets around the world. Market speculation has been fueled by the fact the lack of improvement in bond market functioning, despite the BOJ widening its 10-year yield target range in December to address precisely that. The move also cemented Kuroda’s reputation for taking markets by surprise.

Snapping three-day upward march, equity markets declined on Thursday following hawkish comments from Federal Reserve officials. Selling was seen in index heavyweights Reliance Industries, Bajaj Finserv and ICICI Bank, amid a sluggish trend in the global markets.Sector-wise, BSE Auto and Consumer Durable witnessed intense selling during the session. In the broader markets, the BSE midcap fell 0.55% and the small-cap slipped 0.20%.Technically, "On the lower end, Nifty found support at the 14DMA. The trend is likely to remain bearish until it remains below 17,700. On the lower end, the bears may take the Nifty to 17,500/ 17,400," said Rupak De, Senior Technical Analyst at LKP Securities.Here are stock recommendations for Friday

Initial claims for state unemployment benefits rose to 211,000 for week ended March 4 from 190,000 the previous week, revealed data

Bonus shares are fully paid additional units issued by a company to its existing shareholders. When a firm issues bonus shares, its shareholders do not have to incur any extra costs to get them. The number of bonus shares you receive depends on the number of shares of the firm you already hold.

The brokerage further said that the merge-co will receive a cash infusion of Rs 70/share, implying that the stock is trading at 11x FY24E merge-co adjusted EPS (ex-cash). These trough valuations are ignoring the strengths of the merge-co, in our view, it said.

The daily momentum indicator made a positive crossover. Chart readers said today’s fall might appear aggravated on account of weekly expiry. Overall, the range of consolidation is likely to be 17500 – 17925 from a short-term perspective.

The RBI has launched a special examination of the banking system's exposures to Adani Group entities, and Governor Shaktikanta Das has said that a single case cannot impact the broader banking system.

Investors got poorer by Rs 1.97 lakh crore on Thursday as market capitalisation of all listed companies declined to Rs 264.27 lakh crore. The rupee strengthened against the dollar. But RBI's likely intervention capped further spike and brought the local unit closer to 82 per dollar.

At 18.8% growth YoY, the number of orders rose to 83.50 million. But, the stock has declined 28% in the last six months, while falling 14% year-to-date.

With the latest pledge, the total shares in Adani Green Energy Ltd - the group's renewable energy company - that were encumbered with SBICap was 2 per cent. In the case of Adani Transmission, this came to 1.32 per cent

Closing Bell: Sensex resumes downtrend, slumps 542 pts; Nifty slips below 17,600; M&M falls 3%, RIL 2%

The oil and natural gas giant has paid an equity dividend of Rs 14 per share in the last 12 months amounting to a dividend yield of 8.92% if we consider the current share price levels.

For existing investors who have already provided the nomination details prior to the circular issued in July 2021, re-submission of nomination details is optional

The watchdog suggested that the sponsors of REITs/InvITs should hold 15 per cent of the capital for a period of three years from the date of listing as there is no mandatory unit holding requirement after three years.

Under the arrangement, Mimosa’s product development, manufacturing, and sales teams of 56 employees will continue with Mimosa following the acquisition by Radisys, the filing said.

Since January 2018, when the new management took over, Religare Finvest has repaid over Rs 9,000 crore to its lenders from its collections and through the support of its parent company

"China's economic data is showing signs of recovery with manufacturing PMI rising to an 11-year-high and property prices starting to stabilize. After a 23% fall in CY22, China export steel price is up 14% in CYTD 2023," global brokerage firm Jefferies said.

ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.

While the buyers and sellers were not known immediately, it was earlier reported that Clear Wealth Consultancy Services was planning to sell its stake in the company

"Firstsource Solutions (FSL) is looking positive technically as the prices have started forming a ‘Higher Top Higher Bottom’ formation and has recently given a breakout from its consolidation," Ruchit Jain, Lead Research, 5paisa.com, said.

These large cap companies have shown an improvement in their SR score at a time when markets have been overwhelmed by news and other developments. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists down stocks which fulfill the various criteria as specified into the algorithms & filters.

"The negative outlook is due to expected moderation in financial flexibility of the Adani Group in case of any adverse outcome or observations in on-going regulatory and legal scrutiny directed by Honourable Supreme Court of India in connection with various allegations against Adani group companies," CARE said in a report.

This company’s price has been consolidating for the past two months in a narrowing range. This has led to the formation of a falling wedge chart pattern, a breakout from which is expected to propel prices higher at a quick pace. A rise in volume near the breakout increases the reliability of the breakout.

Shares of Kirloskar Oil Engines rose nearly 4% to Rs 405.5 in Thursday's intraday trade on BSE. The entities belonging to the late Gautam Kulkarni family and part of the promoter group of Kirloskar Oil Engines have offloaded nearly 18% stake in the company for Rs 825 crore through block deals

The worst hit stocks in the sector are contract manufacturers of electronic appliances Amber Enterprises and Dixon Technologies. While Amber Enterprises has nosedived more than 42% so far in FY23, Dixon has lost about 31%.

Gains from Bharti Airtel, L&T and Tata Steel were offset by Reliance, ICICI Bank and TCS.

India VIX moved up by 1.47% from 12.27 to 12.45 levels on Monday. Volatility slightly moved up for the day but overall it has been cooling off from the last few sessions which is a positive sign for the bulls.On the weekly options front, the maximum Call OI is placed at 17800 and then towards 18000 strikes, while the maximum Put OI is placed at 17600 and then towards 17700 strikes

The stock rose from Rs 607 recorded on 31 January 2023 to Rs 823 as on 6 March 2023 which translates into an upside of 36%.After the breakout from a rounding bottom pattern on 27 February 2023, the momentum took the stock to a fresh record high of Rs 832 on 6 March 2023

Jio Platforms, will buy Mimosa Networks from U.S.-based IT services company Airspan Networks Holdings Inc for $60 million on a debt-free, cash-free basis, the companies said on Thursday.

The company started to see some delays in decision-making in Europe. The US aggregate outlook looks mixed for the next couple of months which could weigh on prices and on books," the brokerage said."The company saw pricing improvement in certain segments and is expecting to finish Q4FY23 at 25% EBIT margins," it added.