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Ujjivan Small Finance Bank plans to raise ₹2,000 crore through a qualified institutional placement. This fundraising will occur over the next 18 to 24 months. The bank has applied for a universal banking license and anticipates a decision from the Reserve Bank of India by December. Ujjivan aims to expand its loan book to ₹1 lakh crore in five years.Read More

Inox Wind shares have surged following positive Q1 results and an upgraded credit rating. The company anticipates faster project execution and has increased its margin guidance for FY24. A strong order book and operational enhancements, including new manufacturing units and high-capacity cranes, support this optimistic outlook. Regulatory changes favoring hybrid energy projects further boost Inox Wind’s prospects.Read More

Analysts believe Jaiprakash Associates’ businesses lack synergy with Vedanta, potentially diverting focus from core operations. Vedanta’s acquisition of the debt-laden firm for ₹17,000 crore has been met with shareholder skepticism, as Vedanta shares underperformed. The deal raises concerns about deleveraging efforts amidst a planned demerger, potentially restricting Vedanta’s share re-rating.Read More

The week saw markets open strong but close with moderate gains. Infosys will consider a buyback on September 11. Hudco is set to fund Nagpur Metro with Rs 11,300 crore. TVS Motor will pass on GST cut benefits. PCBL Chemical plans a capacity boost. Coal India explores data centers in old mines.Read More

Indian stock markets closed slightly higher after a volatile trading session, with investors awaiting key inflation data from India and the US. These figures are expected to influence the US Federal Reserve’s monetary policy decisions. The rupee strengthened, while foreign portfolio investors were net sellers, and domestic institutional investors were net buyers.Read More