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Novelis Inc., Hindalcos overseas arm, raised $750 million through 6.88% five-year bonds. Proceeds will repay $738 million in credit facility debt and support corporate purposes, bolstering its global aluminium operations.
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News and Media
According to Hrishikesh Yedve of Asit C. Mehta Investment Intermediates, if the Nifty sustains above 23,460, a short-term pullback toward 23,800-23,900 is likely. However, resistance is expected near 23,930, where the 200-DSMA is positioned. Falling below 23,460 could lead to further weakness, potentially dragging the index down to the 23,300-23,200 range.
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News and Media
HDFC Securities has surpassed 25,000 crore in mutual fund assets under management (AUM), with systematic investment plans (SIPs) contributing over 40% to its AUM. The firm emphasizes disciplined investing, customer education, and digital-first strategies.
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News and Media
CLSA reaffirmed Bharti Airtel as Indias top telecom pick, citing robust growth potential and 5G expansion. Indus Towers, Tata Communications, and others also received mixed ratings, while Vodafone Idea faces ongoing challenges.
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News and Media
The IndiGo stock has underperformed following a significant miss in the companys 2Q results, driven by higher costs impacting profitability. However, Jefferies expects cost normalization in the future, viewing the factors behind the higher costs in 2Q as temporary. The brokerage anticipates a return to more typical cost levels, which could improve the companys performance moving forward.
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News and Media
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