Thursday, October 15
A day after IndusInd Bank revealed that it is suspecting fraud in accounting irregularities and flagged involvement of senior employees, Ashok Hinduja, Chairman of IndusInd International, has come out in strong support of the current leadership and the board.In a statement following the bank’s Q4 FY25 results, Hinduja said he has “unequivocal trust” in the bank’s board and praised their swift action in addressing the discrepancies. “This will lead to higher standards of transparency and governance, rebuilding trust in the Bank,” he said.On May 21, IndusInd Bank disclosed multiple accounting lapses, including inflated fee and interest income and misclassified asset and liability entries, leading the board to suspect internal fraud. The bank has already corrected its financials a
In a bullish relook at the small and mid-cap (SMID) space, Emkay Global has reiterated its constructive stance on Indian equities and picked four stocks as top SMID ideas. The brokerage has added Bikaji Foods, JK Cement, Sonata Software, and Motilal Oswal Financial Services to its SMID picks while maintaining confidence in Escorts Kubota, Metropolis Healthcare, One 97 Communications (Paytm), and StoveKraft.Emkay's confidence in SMIDs stems from the belief that small and midcap stocks are not in bubble territory despite appearing elevated on headline P/E metrics. The brokerage argues that a significant portion of the Nifty’s lower valuation is driven by heavy exposure (20%) to low P/E sectors like financials and energy, areas where SMIDs have relatively less weight.On a sector-adjusted ba
The number of Americans filing new applications for unemployment benefits dropped last week, suggesting the economy maintained a steady pace of job growth in May. Initial claims for state unemployment benefits fell 2,000 to a seasonally adjusted 227,000 for the week ended May 17, the Labor Department said on Thursday. Economists polled by Reuters had forecast 230,000 claims for the latest week. They expect claims in the coming weeks to drift into the upper end of their 205,000-243,000 range for this year, mostly driven by difficulties adjusting the data for seasonal fluctuations. That would not suggest a material shift in labor market conditions. Employers have been largely reluctant to lay off workers despite rising economic uncertainty caused by President Donald Trump's constantly shifti
Mumbai: After a three-month pause, the Indian equity capital primary market is showing signs of revival. Seven companies are launching initial public offerings (IPOs) in May, and another 10-12 plan to enter the market in June. On Wednesday, Schloss Bangalore, operator of The Leela luxury hotels, announced the start date of its ₹3,500-crore IPO. Aegis Vopak Terminals, which owns and operates storage facilities for liquefied petroleum gas and other liquid commodities, also unveiled the schedule for its ₹2,800-crore share sale. Both open for public subscription on May 26 and close on May 28. Belrise Industries and Borana Weaves have already launched IPOs.121327020 Stabilising Secondary Market Prostarm Info Systems will kick off its offering on May 27. Two more companies-ArisInfra Solution
