Thursday, October 15
ET Intelligence Group: Aegis Vopak Terminals (AVTL), which operates liquid and gas storage tank terminals across major ports in India, plans to raise ₹3,500 crore through fresh equity to repay debt and to fund capital expenditure. AVTL is a joint venture between Aegis Logistics, which owns 50.1%, and the Netherlands-based Vopak, which holds 47.4%. After the IPO, the promoter group holding will fall to nearly 87% from the current 97.4%. A higher interest outgo impacted net profit of the company in the past. This will change for the better once it repays debt by using the IPO proceeds worth ₹2,015.9 crore. The utilisation of the existing capacities is likely to improve as the number of customers increases. In addition, it is in the process of expanding terminal capacity across ports, whi
Mumbai: The profitability of most large listed broking firms took a severe beating in the March quarter, weighed down by a slew of stricter regulations, scrapping of some popular derivative products and lower trading activity in the wake of the stock market decline.For instance, Angel One recorded a 40% decline in its standalone profit and a 17% drop in standalone revenue in the fourth quarter as against the December quarter. Motilal Oswal Financial Services posted a loss of over ₹8 crore on a standalone basis in Q4. Standalone profits of other listed brokers such as IIFL Capital Services, 5paisa Capital and Choice International also fell 35-61% in the March quarter compared to October-December. The drop in profits and revenues during the quarter is an outcome of some of the steps taken
Net foreign direct investments (FDI) into India dropped 96.5% in FY25, as a red-hot IPO market provided multi-bagger exits to long-term investors in companies such as Hyundai Motor and Swiggy, while several local firms invested heavily overseas to benefit from a global supplychain rebalancing.Net FDI in the previous fiscal year amounted to $353 million, lowest on record, compared with $10 billion in FY24, showed the Reserve Bank of India (RBI) data, published late Wednesday in its latest monthly bulletin.“Net FDI moderated… reflecting the rise in net outward FDI and repatriation FDI,” the RBI said.Net inflows of ‘stable’ FDI were 86% lower than the ‘volatile’ portfolio flows, which totalled $2.67 billion for the year, according to the RBI.Net FDI represents the difference bet
Mumbai: India's equity indices weakened on Thursday, mirroring an overnight sell-off on Wall Street, after a sharp sell-off in the American bond market pushed up the yields on long-term treasury bonds there.The NSE Nifty fell 0.8%, or 203.75 points, to finish at 24,609.70. The BSE Sensex moved 0.8%, or 644.64 points, lower at 80,951.99. Both indices dropped as much as 1.4% earlier in the dayElsewhere in Asia, South Korea and Hong Kong fell 1.2% each. Japan declined 0.8% while Taiwan and China declined 0.6% and 0.2%, respectively. Indonesia ended 0.3% higher.121348532On Wednesday, yields on the 30-year US Treasury - a proxy for the US government's long-term borrowing costs - surged to an 18-month high of 5.08% as bonds prices were under pressure in the wake of the economy's rising debt burd
Mumbai: Shares of IndusInd Bank rose 1.8% to ₹785 Thursday, rebounding from early lows, as investors took the lender's first quarterly loss in 20 years in their stride. The stock was down 5.8% earlier in the day Analysts, however, remain cautious. Most brokerages have slashed earnings estimates and flagged concerns over governance, asset quality, and CEO succession. While a few see value if recovery takes hold, the broader view warns of a slow, uncertain turnaround.UBSSees significant uncertainty around the bank's future. Warns of a potential drop in valuation due to multiple unresolved risks.Morgan Stanley Worst-case scenario is already unfolding. Slow and painful earnings recovery, with a weakening high-return loan mix.121348591ICICI SecuritiesWeak core profitability even after adjusti
