The delisting of ICICI Securities (I-Sec) has been approved by over two-thirds of its public shareholders facilitating its transition into a wholly owned subsidiary of ICICI Bank. Notably, the listing in April 2018 did not yield any material benefit to the parent bank. Thus, the move seems like a courseRead More →
Interestingly, these funds bought ICICI Securities shares at a premium to the value of ICICI Bank shares they will get in exchange, if the delisting of ICICI Securities goes through. For every 100 shares of ICICI Securities, shareholders will get 67 shares of ICICI Bank, translating to a share swapRead More →
Reliance Industries: On February 28, Reliance Industries Ltd (RIL), led by billionaire Mukesh Ambani, and global media giant Walt Disney, announced their decision to merge their media operations in India. This merger will create a media powerhouse valued at ₹70,352 crore. As part of this agreement, Viacom18’s media business willRead More →
Positive global cues led to widespread buying in the domestic market, and analysts noted that the pro-growth Interim Budget also encouraged investors to buy quality stocks following the recent correction. The Nifty 50 ended 156.35 points, or 0.72%, higher at 21,853.80, and the Sensex ended 440.33 points, or 0.61%, higher atRead More →
The ex-dividend date is the day on which the equity share price adjusts to reflect the next dividend payout. It is the day the stock becomes ex-dividend, which means it does not carry the value of its next dividend payment from that day forward. Dividends are payable to all shareholdersRead More →
Titan Co. Ltd continued the trend of double-digit growth across its businesses in the March quarter (Q4FY23). Excluding bullion and business-to-business (B2B) sales, revenue growth in the jewellery segment stood at 23% year-on-year (y-o-y). Jewellery makes up the largest share of Titan’s revenue. This comes at a time when goldRead More →
Domestic brokerage and research firm ICICI Securities highlighted that in China, divergent trends are in steel stocks- rebar inventory increased, however, HRC inventory declined WoW. However, on the positive side, real estate sector is showing the initial signs of recovery. The brokerage still has retained its circumspect outlook on theRead More →
With a market valuation of ₹5,072.04 Cr, Kirloskar Ferrous Industries Ltd. is a mid-size business that operates in the metals and mining sector. One of the firms in the pig iron and iron castings industries with the strongest growth is Kirloskar Ferrous Industries Limited. The brokerage firm ICICI Securities seesRead More →
The brokerage firm ICICI Securities is bullish on the PSU banking sector despite the decent rally, the valuation still looks reasonable for PSU banks. The brokerage has given buy call ratings on SBI with a target price of ₹750, Bank of Baroda with a target price of ₹220 and IndianRead More →
In a report highlighting market share movement, valuations, industry flow and performance comparison of listed asset management companies (AMCs), brokerage and research firm ICICI Securities said that the three key takeaways include valuations have inched up above their respective. “First being, standard deviations based on its estimates for HDFC AMCRead More →
