Market

Kotak Mahindra Bank is looking for acquisitions, including loan portfolios, while further expanding into alternative assets and other non-banking businesses, its chief executive said, as the Indian lender looks to deploy excess capital to drive growth. Founded by billionaire Uday Kotak, it aims to become India’s third-largest private lender by after-tax profit, CEO Ashok Vaswani…

Indian equity markets ended with steep losses on Tuesday, June 23, with the Nifty 50 index ending with losses of over 300 points and the Sensex declining over 500 points. All sectoral indices, barring Pharma, ended with losses on Tuesday. Losses were led by led by the Metal index, which was led lower by Vedanta…

Akasa Air plans to come out with its initial share sale in the next two to four years, depending on achieving various milestones, its Chief Financial Officer Ankur Goel said on Tuesday as he stressed that the airline’s IPO is ”not a question of if but a question of when”. After taking to the skies…

Twin Star Holdings, one of the promoter entities of Vedanta Ltd, on Tuesday sold 6.51 crore shares of the mining and metals major through a block deal worth approximately ₹1,896 crore. According to exchange data, Twin Star sold 6,50,72,990 shares at an average price of ₹291.36 apiece. The transaction was valued at ₹1,895.97 crore. The…

The Enforcement Directorate (ED) on Tuesday conducted searches at premises linked to Rajesh Exports Ltd as the company faces scrutiny from market regulator Sebi over alleged financial irregularities. According to official sources, the searches were carried out under the Foreign Exchange Management Act (FEMA) at locations in Bengaluru and Mumbai associated with the company. The…

YES Banksaid its board of directors will meet on June 29 to consider proposals for raising funds through the issuance of equity and debt securities. The board will evaluate an enabling resolution for raising capital through eligible equity securities via permissible routes, including private placements, preferential issues, or a combination of methods, in accordance with…

Coimbatore-based auto component manufacturer, Craftsman Automation Ltd, on Tuesday (June 23) witnessed a block deal in which promoter Srinivasan Ravi sold a 2.01% stake, equivalent to 5.3 lakh shares, for ₹486 crore. The shares were sold at an average price of ₹9,250 per share on the National Stock Exchange. Among the buyers, HDFC Mutual Fund…

Private sector lender City Union Bank Ltd on Tuesday (June 23) said its board of directors has approved a proposal to raise up to ₹500 crore through a qualified institutional placement (QIP), including premium, subject to shareholder approval. The QIP proposal will be placed as an enabling resolution in the notice for the upcoming annual…

Microfinance lender Satin Creditcare Network Ltd on Tuesday (June 23) said its board of directors has approved a proposal to raise funds of up to ₹5,000 crore through issuance of non-convertible debentures (NCDs) on a private placement basis. The NCD issuance will be undertaken in one or more tranches within a period of one year…

The equity benchmark indices, the BSE Sensex and NSE Nifty, may remain under pressure on Wednesday as concerns over a weak monsoon intensify following the agriculture minister’s warning about a potential impact on kharif crops. Weak business data and a selloff in global technology stocks are likely to further dampen investor sentiment. However, investors may…