1. The first news is about former SEBI Chief Madhabi Puri Buch. She has been given a clean chit by the Lokpal. There were allegations against Madhabi Buch and her husband Dhaval Buch, saying they had invested in a fund linked to the Adani Group. They were also accused of taking consultancy fees from M&M and Blackstone Inc in exchange for giving them unfair benefits. But on 28 May, the Lokpal passed an order saying there was no solid evidence found against them. The complaint was based on assumptions and had no proof. So, the Lokpal has stopped the inquiry and given them a clean chit.
2. Moving on, on 27 May, in a major block deal, British American Tobacco (BAT) sold 2.3% of its stake in ITC. According to media reports, the value of this deal was around ₹11,613 crore. BAT sold these shares at a price of ₹400 per share. BAT also said that they will use this money for their share buyback program. They have set a target of £1.1 billion for share buybacks in 2025, and this sale will add an extra £200 million. After this news, there was a slight drop in ITC’s share price.
3. The third big news is about IndiGo’s co-founder Rakesh Gangwal. He has sold 5.8% of his stake in the company. Reports say the value of these shares was around ₹11,988 crore. The block deal was managed by global investment banks like Goldman Sachs, Morgan Stanley, and JPMorgan. Reportedly, 2.26 crore shares were exchanged in this deal, but the buyers’ names are not yet known. Rakesh Gangwal had earlier planned to gradually sell his stake and exit the airline. After this news, on 27 May, IndiGo’s shares fell by around 3%.
4. SEBI has taken a major action by banning IndusInd Bank’s ex-CEO Sumant Kathpalia from the market. Along with him, ex-Deputy CEO Arun Khurana and three other senior officials have also been banned. This action was taken in an insider trading case. SEBI said these people made ₹19.78 crore by trading in IndusInd Bank shares, using sensitive financial information that was not available to the public. SEBI has also ordered freezing of their bank accounts up to ₹19.78 crore.
5. SEBI has also passed an order regarding futures and options (F&O) expiry in the stock market. From now on, expiry of F&O contracts will be allowed only on Tuesday or Thursday. Every stock exchange has to inform SEBI by 15 June about their preferred expiry day. SEBI says this move will bring more stability and discipline to the market and reduce risk. However, exchanges will have to update their systems to implement these new rules. If any exchange wants to change its expiry day in the future, they will have to get SEBI’s approval first.
6. Hero FinCorp is now planning to launch its ₹3,668 crore IPO. SEBI has approved their IPO. The company wants to raise ₹2,100 crore through a fresh issue and ₹1,568 crore through an offer for sale (OFS). Hero FinCorp is an NBFC that mainly gives loans to retail customers, small businesses, and the MSME sector. As of March 2024, Hero FinCorp had ₹51,821 crore in assets under management (AUM), out of which 65% were retail loans and 21% were MSME loans. The company has been operating since 1991 and has a customer base of 1.18 crore people as of March 2024. For managing this IPO, they have appointed JM Financial, BofA Securities, HSBC, ICICI Securities, Jefferies India, and SBI Capital Markets.
7. India’s GDP growth for Q4 FY25 is estimated to be 6.9%, which will be the highest growth in the last four quarters. This estimate is based on a poll by Moneycontrol of 20 economists. HDFC Bank’s principal economist, Sakshi Gupta, also shared the same reasons for the Q4 growth. However, for the entire FY25, the GDP growth is estimated to settle at 6.3%, slightly lower than the second advance estimate of 6.5%.
8. LIC has announced its March 2025 quarter results. The company’s net profit has increased by 38% to ₹19,013 crore. Last year, in the same quarter, LIC’s net profit was ₹13,763 crore. However, LIC’s total income for the quarter saw a slight decline to ₹2,41,625 crore, compared to ₹2,50,923 crore last year. LIC’s board has declared a final dividend of ₹12 per share. LIC has also reduced its expense ratio from 15.57% to 12.42%. Overall, the results are considered good.
9. India’s total FDI inflow for 2024-25 has increased by 14%, reaching $81 billion. Last year, in 2023-24, the FDI inflow was $71.25 billion. Out of this, around $50 billion came from direct approvals, $23.5 billion from reinvestments, and $6.5 billion from other sources.
10. Bajaj Auto’s impressive results have also made investors happy. The company reported a net profit of ₹2,049 crore, which is 6% higher than last year’s ₹1,936 crore. This profit is also higher than analysts’ expectations, as brokerages had estimated a profit of ₹1,970 crore. Bajaj Auto’s revenue was ₹12,148 crore, better than the estimate of ₹11,853 crore. The company has also announced a dividend of ₹210 per equity share.
Информация по комментариям в разработке