PROMOTER EXITS
Nifty breaks out of 31-day consolidation cage. Will stock market hit record high this week?
Indian stock markets are showing strong bullish momentum. Nifty broke a consolidation phase, raising hopes for a new all-time high. Foreign investors are buying heavily, encouraged by positive global cues. Crude oil prices have fallen, and the rupee has strengthened. July's historical performance and upcoming earnings season add to the optimism.
VRL Logistics board to meet on July 4 to consider bonus share issue
VRL Logistics' board will meet on July 4, 2025, to consider issuing bonus shares to eligible shareholders, with the record date to be announced later. This would be the company's first-ever bonus issue, funded by accumulated reserves.
$6 billion donation: Warren Buffett makes his biggest annual charitable gift
Warren Buffett has donated $6 billion in Berkshire Hathaway stock to philanthropic organizations, including the Bill & Melinda Gates Foundation and family foundations. This donation, comprising over 12.36 million Class B shares, continues Buffett's tradition of charitable giving, bringing his total contributions to over $60 billion.
Safe Summer Campaign: Abu Dhabi Police lists key measures to keep children safe in cars
Abu Dhabi Police have cautioned against leaving children unattended in vehicles during summer months. The "Safe Summer" campaign emphasises child safety, seat belt use, and shaded parking. Children under 10 or shorter than 145 cm are prohibited from the front seat, with a fine for violations. Regular vehicle maintenance is also crucial for safe summer travel.
$1.86 billion worth of IPO shares set to unlock in July: Nuvama Report
A substantial $1.86 billion in pre-IPO shareholder lock-ins is expiring in July 2025, potentially altering the ownership structure of several recently listed firms. Nuvama Institutional Equities reports that these expiries encompass both promoter and non-promoter holdings across multiple companies. While the shares become tradable, not all are expected to be sold, as many may remain with long-term investors.
MahaRERA orders Lodha Developers to issue full refund of booking money after homebuyer’s bank loan application got rejected
MahaRERA directed Lodha Developers to refund a homebuyer's Rs 7 lakh booking amount after their loan was rejected. The buyer booked a Rs 2.26 crore flat based on a sales agent's assurance of a full refund upon loan rejection. Lodha refused, citing clauses in the booking form. Read more to know this RERA judgement impacts homebuyers.
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Rs 1 lakh crore selloff tsunami threatens Nifty rally as promoters, strategic investors exit
Indian stock markets are seeing a lot of share sales. Promoters and PE firms have sold shares worth Rupees one lakh crore. This selling is happening as domestic and foreign investors are putting money in the market. Some promoters are selling because they find the valuations attractive.
Indian-origin Zohran Mamdani faces shocking threat to US citizenship: Can Trump really deport him?
Zohran Mamdani set off a political earthquake in New York when he toppled former New York Governor Andrew Cuomo in the city's Democratic mayoral primary. But now Republicans are calling for his deportation and have asked the Donald Trump administration to revoke his US citizenship. But can Trump really deport him?
Parag Parikh Flexi Cap Fund, Quant Small Cap Fund among 17 mutual funds which deliver over 20% XIRR on SIP investments in 10 years
Seventeen equity mutual funds delivered over 20% XIRR on SIPs over the past 10 years, led by Quant and Nippon India Small Cap Funds. Among 156 funds studied, most top performers were small and mid cap schemes excluding sectoral/thematic categories.
Did not throw like 'trash': CEO says after firing employee, but netizens don't like it
An entrepreneur's LinkedIn post detailing his first employee's dismissal backfired spectacularly after being shared on X. Intended to showcase ethical leadership, the post was criticized as narcissistic and self-promotional. The founder's attempt to publicize his respectful offboarding process ironically invited widespread scrutiny and accusations of lacking emotional maturity.
Nestle India shares rally 4% this week as Street cheers 1:1 bonus announcement
Nestle India's stock price has increased following the announcement of a 1:1 bonus share issue. The board approved this decision, setting the stage for shareholders to receive one bonus share for each share they hold. The record date for eligibility will be announced later. Bonus shares are expected to be credited by August 25, 2025.
HDFC Bank shares trade ex-dividend for Rs 22 per share, stock down over 1%
In a notable development, HDFC Bank's shares commenced trading ex-dividend today after the declaration of a Rs 22 per share dividend. This announcement led to a slight 1.5% drop in the stock's value on the BSE. Shareholders should mark their calendars for June 27, 2025, which is the record date for dividend eligibility.
NBFCs put IPO plans on fast track, could raise over Rs 30,000cr
Non-bank lenders in Mumbai are preparing for a surge of IPOs, driven by favorable regulatory changes, lower interest rates, and an improving credit cycle. Several NBFCs, including SK Finance, Avanse Financial, and Tata Capital, are planning to raise significant capital through public offerings.
Elon Musk's right-hand man quits: Who is Tesla power player Omead Afshar?
Tesla has parted ways with a top aide to Chief Executive Elon Musk Omead Afshar who was in charge of sales and manufacturing operations in North America and Europe. Afshar was known as Musk's 'fixer' and one of the most powerful executives at the company. His sudden departure comes when sales of Tesla is seeing a decline in sales and facing consumer backlash to Musk’s role in US President Donald Trump’s administration.
Elon Musk's confidant Omead Afshar exits Tesla in latest high-level departure
Omead Afshar, a key Tesla executive and close associate of Elon Musk, has departed the company amidst a period of significant change. This exit follows another recent high-level departure and comes as Tesla navigates challenges in North American and European markets, including declining sales and increased competition. Afshar's responsibilities included overseeing sales and manufacturing in these regions.
Pine Labs IPO; Raphe mPhibr, ShopOS raise funds
Pine Labs has filed its IPO papers with Sebi to raise Rs 2,600 crore. This and more in today’s ETtech Top 5.
Fund Manager Talk | How Mihir Vora picks stocks using Gorilla hunt and a LIM test
Mihir Vora of TRUST Mutual Fund selects stocks using ROCE filters and terminal value theory. He focuses on companies with visible growth and sustainable capital efficiency. The uptrend in markets looks sustainable with potential volatility. Sectors like construction and consumer discretionary are gaining attention. He suggests a balanced investment approach with equities, gold/silver, and fixed income.
Digital lending startups put off IPO plans amid muted growth
Digital lending startups experienced slower growth in FY25 due to rising expenses, tighter regulations, and worsening credit quality, potentially delaying IPO plans for some. While companies like Moneyview and Kissht are preparing for regulatory filings, Kreditbee's profit growth was muted despite revenue increase. Fibe, however, nearly doubled its net profit, contrasting with Axio's pre-provisioning profit decline.
Symbiotec Pharmalab plans IPO to boost specialty pharma market
Symbiotec Pharmalab, a leading API manufacturer, is planning an IPO. The company targets a valuation of about $1 billion. The IPO aims to raise ₹2,000-2,500 crore. Nomura, JM Financial, and Motilal Oswal are the lead managers. The IPO will offer a partial exit to private equity investors. MOPE and InvAscent currently hold a significant stake in Symbiotec.
LG rewires strategy before hitting IPO switch
LG Electronics India is implementing cost-cutting measures, including reducing in-store sales promoters, due to declining revenue in the first half of 2025. Sales of ACs and refrigerators have been impacted by a cooler summer and weak consumer demand. The company aims to present a strong financial performance before its planned IPO, scheduled for October-November, to attract investors.
Millionaires may exit UK in record numbers after non-dom tax shake-up
The United Kingdom may witness a significant departure of wealthy residents. Around 16,500 millionaires are expected to leave in 2025. This migration links to changes in tax and visa rules. The UK government's decision to alter non-domicile tax regime is a factor. Many affluent individuals are seeking opportunities elsewhere.
Rs 1 lakh crore FII selloff in 6 sectors! Are you still holding the wrong stocks?
Foreign institutional investors have aggressively sold off nearly ₹1 lakh crore in Indian equities across six key sectors, including IT and FMCG, over the past six months. This pullback reflects concerns about high valuations, global macro uncertainties, and potential earnings downgrades. Telecom and financials are notable exceptions, attracting FII inflows amidst this broad de-risking trend.
Qcomm’s worker woes; Capillary’s IPO moves
Quick commerce platforms are facing challenges in hiring and retaining delivery drivers amid rising competition. This and more in today’s ETtech Morning Dispatch
ETMarkets Smart Talk | Avoid overpriced defence, travel, and consumer staples: Arun Poddar’s caution list
Arun Poddar of Choice International advises investors to be selective amid high valuations and macro uncertainties. He suggests avoiding overheated sectors like private defence and focusing on financials, automobiles, and infrastructure. Poddar anticipates stable DII flows and cautions against small and mid-caps due to their expensive valuations, recommending a staggered investment approach.
Jhunjhunwala family-backed IKS Health sees Rs 500 crore block deal; stock slides 4%
Shares of IKS Health fell after 30 lakh shares worth Rs 499 crore changed hands in a block deal, just a day after its six-month post-IPO lock-in ended. Backed by the Jhunjhunwala family, the stock is now 22% below its post-listing high. The sale has raised concerns about more potential exits from early investors or promoters.
Spandana Sphoorty Financial plans Rs 750-crore capital raise with Kedaara Capital's equity infusion
Spandana Sphoorty Financial is considering a rights issue, potentially with Kedaara Capital's participation, to raise Rs 750 crore and bolster investor confidence after a significant annual loss and rising bad loans. The move mirrors Fusion Finance's experience, where a similar infusion led to a market capitalization jump. The microfinance sector faces broader challenges, including overleveraging and high NPAs.
Sebi board meeting: Regulator approves PSU delisting, IPO reforms, dematerialisation of Securities. 10 key takeaways
Market regulator Securities and Exchange Board of India (Sebi) on Wednesday introduced special delisting route for PSUs with 90% or more government holding. In its 210th board meeting, the market regulator approved a slew of measures including dematerialisation of securities ahead of IPOs, Simplified disclosures for institutional placements and FPI rules for investments in G-Secs.
Promoter, PE & VC selling crosses Rs 40,000 crore in 2 weeks: Red flag for Nifty bulls?
Promoters and PE/VC investors are selling stakes worth over Rs 40,000 crore in June. This selling spree may surpass last month's total. Large block deals drive this trend. Capital is flowing into real estate and alternative investments. Domestic institutional investors are providing support. Concerns about stretched valuations persist. Investors should focus on companies with strong fundamentals.
Edelweiss sheds distressed assets ahead of EAAA India Alternatives IPO
The group has exited a number of long-stuck credit exposures, including Vatika, Adhunik Metaliks, and now BILT Graphic Paper Products (BGPPL), people aware of the development said.
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