A high-stakes showdown is brewing in India’s edtech world as Ranjan Pai’s Manipal Group and Ronnie Screwvala’s UpGrad compete for the assets of bankrupt Byju’s parent, Think & Learn.
A high-stakes showdown is brewing in India’s edtech world as Ranjan Pai’s Manipal Group and Ronnie Screwvala’s UpGrad compete for the assets of bankrupt Byju’s parent, Think & Learn.
Sumitomo Mitsui Banking Corporation (SMBC) is reportedly considering raising its shareholding in Yes Bank and establishing a wholly owned subsidiary in India, reinforcing its long-term commitment to the Indian financial services market. Rajeev Kannan, SMBC’s India head, made these remarks in a recent interview.
NIFTY OUTLOOK: 26013.45 FII 422.17 cr DII 1465.86 cr
As discussed yesterday, market behaviour remained on expected lines during the day, as continuation of the uptrend took Nifty’s rally up to 26024.2, very close to our level of 26015, and it closed near the same at 26013.45.
Kotak Securities on Exide
Target Price: Rs. 315
Recommendation: Sell
Q2 results below expectations; channel inventory correction and under-recovery of fixed costs continue to weigh.
Lead-acid battery market share loss remains a concern.
Sobhagya Mercantile: Wins contract from Assam Mineral Development Corporation for mining and geological services under the Vajadoli North Block.
A heavy block-deal day is expected with four major transactions hitting the market.
– Paytm – 2% Stake Sale
* Seller: Saif Partners Fund (Elevation Capital)
* Floor Price: Rs. 1281 per share
* Deal Size: Approx Rs. 1640 crore
1. FIIs’ net long position is 11.99%
2. PCR is 1.13
3. VIX is 11.78 (-1.34%)
4. FIIs bought Rs. 442 cr in cash, bought Rs. 73 cr in index futures, and sold Rs. 924 cr in stock futures
5. DIIs bought Rs. 1466 cr in cash
As per market grapevine, earnings growth is expected to revive from Q4. Foreign investors are unlikely to return meaningfully until double-digit earnings come back.
India’s industrial conglomerate Mahindra & Mahindra (M&M) has signed a definitive agreement with global insurer Manulife to launch a 50:50 joint venture (JV) in the life-insurance sector in India.
Capillary Technologies India Ltd is gearing up for a major initial public offering (IPO) that could test investor appetite for enterprise-SaaS plays in the Indian market.
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