Reseñas

On Vi, it maintained its sell rating, while raising the price target to ₹2.5 from ₹2.2, implying a downside of 81.4% from Friday’s closing of ₹13.43. Vodafone shares plunged 11% on Friday.

All three main indexes were lower, with the 11 sectors of the benchmark S&P 500 losing ground led by declines in communication services, consumer discretionary and technology equities.

The regulations require overseas investment vehicles to provide granular details of all entities holding any ownership, economic interest, or exercising control, failing which they must liquidate their domestic holdings.

The Tata Group’s aviation business, including Air India and Vistara, reduced losses to ₹6,337 crore from ₹15,414 crore. Air India saw a 24% revenue increase to ₹51,365 crore. Tata Digital’s business grew 148%, but net losses widened. Tata Sons’ net profit rose 57% to ₹34,654 crore.

Shareholders of Godfrey Phillips India have approved the re-appointment of Bina Modi as Managing Director with 86.6% votes. Her daughter Charu Modi was also appointed as an executive director. Samir Modi has retired from the board, and his vacancy will not be filled for now.

Peak XV Partners, formerly Sequoia Capital India and SEA, sold over 22% stake in Indigo Paints for Rs 1,557 crore to investors including Morgan Stanley, Mercer, and HDFC MF. The shares were sold via open market transactions. Following the sale, Indigo Paints’ shares fell by 4.19% on the NSE.

SpiceJet announced that Carlyle Aviation Partners will convert part of their debt into equity, restructuring aircraft lease obligations. Carlyle may also invest in SpiceXpress & Logistics. The airline is seeking to raise Rs 2,500 crore through a share sale to institutional investors amid financial struggles and operational challenges.

Kross Ltd has secured Rs 150 crore from 19 anchor investors ahead of its IPO. The company plans to raise Rs 500 crore through a fresh equity sale and an offer for sale by promoters. The funds will be used for capital expenditure, debt repayment, and working capital needs.

Baazar Style Retail’s shares debuted flat on the bourses but closed 3% higher on Friday. The company, expanding rapidly with 162 stores, holds 3% market share in West Bengal and 2.2% in Odisha. Analysts view it as a promising medium-to-long-term investment despite competition and debt.

The Sensex dropped over 1,000 points during intraday trading today, potentially marking its fifth significant decline of 2024. ETMarkets analysis revealed nine BSE500 stocks have fallen more than 35% from their 52-week highs amid this downturn.