Market

Nitin Aggarwal, Head of BFSI Institutional Equities at Motilal Oswal Financial Services, says India’s proposed insurance distribution rules will move bargaining power away from brokers, agents and distributors and toward insurers themselves. “The balance of power shifts a bit towards the insurers, the manufacturers,” Aggarwal said, adding that intermediaries had built up significant leverage in…

Shares of Vascon Engineers Ltd. gained up to 14% on Friday, September 25, after the company said it received a design and build, GMP contract worth ₹660.79 crore from Qualcomm India. The stock though, has given up most of its gains. The order is for the development of an office facility (Block K), comprising three…

Runwal Enterprises Chairman and Managing Director Subodh Runwal has laid out an aggressive plan to cut debt and shift the company’s focus toward higher-margin luxury housing in South Mumbai, as its ₹500 crore initial public offering (IPO) opened for subscription today (September 25). The Mumbai-based developer’s shares are priced in a band of ₹290 to…

Networking and cable equipment supplier Orient Cables expects to reach a revenue potential of ₹3,200 crore to ₹3,500 crore by 2029-30 (FY30), driven by capacity expansion and steady asset turnover. The company opened its ₹550 crore initial public offering (IPO) for subscription today, comprising a ₹320 crore fresh issue and an offer for sale. The…

Proposed changes to insurance commission rates by the Insurance Regulatory and Development Authority of India (IRDAI) could reduce PB Fintech’s revenue by around 30% by FY28 and push the company into losses, according to Ashi Anand of IME Capital. Anand said the draft consultation paper could reduce PB Fintech’s take rate — the share of…

The equity benchmark indices recovered on Friday (September 25), with the Nifty climbing back above 23,100 and the Sensex gaining 315 points, as buying in select financial and auto stocks helped the benchmarks close largely higher. The Sensex ended at 73,896, up 315 points, while the Nifty closed at 23,141, gaining 77 points. The Nifty…

Indian equities are likely to remain under pressure in the near term unless oil prices ease or second-quarter earnings provide a stronger-than-expected boost to investor sentiment, according to Rahul Sharma, director and head of technical and derivatives at JM Financial Services. Sharma was speaking a day after a sharp selloff in the market triggered by…

Indian markets could remain in consolidation mode for up to a year, although current large-cap valuations are reasonable for investors with a medium- to long-term horizon, according to Karthik Kumar, Senior Vice President at Bandhan AMC. “Consolidation for a year is, I think, a fair — it’s a possible outcome,” Kumar said in an interview…

Real estate developer Signatureglobal (India) Ltd on Friday (September 25) said it has acquired and collaborated on a 194.22-acre land parcel in Farrukhnagar, Gurugram, Haryana, for the development of an ultra-luxury farmhouse villa destination with an estimated GDV of ₹5,500-6,000 crore. The transaction comprises 25 acres acquired through conveyance deeds and collaboration agreements for the…

Godrej Industries Ltd has invested approximately ₹335 crore in its wholly owned subsidiary Godrej Investment Ltd, the company said in a regulatory filing. The investment was made through the acquisition of equity shares of Godrej Investment for cash, based on a valuation report. The transaction was with a related party and was carried out on…