Company Overview and News
Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country. (14-0)
HDFC Mutual Fund aims to invest in industries/entities that are engaged in or expected to benefit from the growth in housing and its allied business activities.
On November 10, 2017 HDFC Mutual Fund bought 340,000 shares of Just Dial at Rs 520.08 per share on the NSE. Also, the house bought 340,000 shares of the company at Rs 522.79 per share on the NSE.
HDFC Mutual Fund will launch HDFC Housing Opportunities Fund- Series 1 on Nov 16 and it will remain open for subscription until November 30, an official from the fund house said today.
HDFC Mutual Fund believes geopolitical tensions, particularly emanating from the Far East and elsewhere in the world, continue to remain key risks to this market rally.
Shares of Sarla Performance Fibres may remain in focus, as HDFC Mutual Fund has reduced its stake in Sarla Performance Fibres. Through HDFC Prudence Fund and HDFC Small Cap Fund, the fund house reduced its stake to 6.27 per cent. HDFC Mutual had held 8.38 per cent stake since October 2014. It sold 17.59 lakh shares (or 2.11 per cent stake in the company) on October 24 through open market, Sarla Performance said in a disclosure to the stock exchanges.
Shares of S Chand and Company stock rallied 6.5% to Rs 484.50 on BSE after HDFC Mutual Fund bought 2.96 lakh shares, or 0.9% equity, of the company at Rs 455 each on NSE, October 23, 2017.
New India Assurance (NIA), the largest general insurance company in India, will hit the capital markets on November 1 to raise an estimated Rs 10,000 crore through IPO, merchant banking sources told PTI. The company's initial share sale will close on November 3, they added. The IPO comprises sale of 9.6 crore shares by the government, besides fresh issue of 2.4 crore shares. Thus a total of 12 crore shares of the non-life insurer would be sold through the share sale offer, constituting around 14. (36-0)
S Chand and Company Limited is up over 5 percent in trade today. HDFC Mutual Fund bought 2.96 lakh shares or 0.9 percent equity stake at Rs 455 each on Monday.
Private player HDFC Bank reported a 20.1% jump in net profit to Rs 4,151 crore for the second quarter ended September 30, 2017-18. It had earned Rs 3,455.3 crore profit in the July-September quarter of the last financial year. The bank's total income for the quarter under review was Rs 23,276 crore, up from Rs 19,970.9 crore in the year-ago period. Its gross non-performing assets (GNPAs) rose to 1. (39-1)
The Union Cabinet has approved the Road Ministry’s Bharatmala Phase 1 proposal, reports CNBC-TV18, quoting sources. An umbrella programme for roads, Bharatmala includes the government flagship National Highways Development Project (NHDP). The ambitious highways development project subsumes all road projects in the first phase will see the construction of 20,000 km of highways. Bharatmala is a mega plan of the government and the second-largest highways project after the NHDP. (36-0)
S Chand and Company share price rallied 7.1 percent intraday Tuesday after the leading mutual fund house picked up nearly a percent stake in the company.
Anil Ambani-led Reliance Group’s asset management arm is expected to see a huge demand of over Rs 15,000 crore from anchor investors against the earmarked book size of Rs 462 crore for them under its forthcoming IPO, merchant banking sources said. (53-0)
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Central banks unwinding quantitative easing, potential crises in China and Italy, elevated global trade imbalances and a backdrop of populism are some of the potential sources of the next financial crisis, the latest research from Deutsche Bank suggests. Looking for the potential source of the next financial shock, Deutsche Bank strategists warn there are "a number of areas of the global financial system that look at extreme levels", reports CNBC. (77-0)
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