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Foreign portfolio investors (FPIs) have been selling Indian stocks of late amid the broader risk aversion to emerging market stocks on fears that expectations of rising rates in the US could led to the dollar strengthening. On Wednesday, FPIs sold Indian shares worth Rs 1,260.6 crore, taking their total sales tally for May so far to Rs 4,400 crore.
Axis as promoter brings stability: Max Life Axis Bank becoming a promoter of Max Life has reduced pressure on the life insurance company to diversify its distribution channel. The private lender accounts for 55-60% of the insurer’s sales and this was creating pressure… Read MoreQ4 may see highest revenue growth in 8 quarters for India IncA report by Edelweiss also noted that larger companies would lead this recovery. For the Nifty 50 companies, low base and strong earnings momentum are likely to propel earnings growth to a record 100%-plus rate on a yearly ba… Read MoreStocks in the news: Vodafone Idea, Tata Power, Vedanta, NBCC, FRL and Elantas BeckTata Power said its total outstanding borrowing stood at Rs 16,504.41 crore at the end of March 31.
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… Read MoreAgarwal may see Vedanta stake rise to 65% from 55% Metals and mining magnate Anil Agarwal will see his stake in flagship Vedanta increase to 65.2% from the existing 55.1%, if he accepts all the shares tendered by minority shareholders in the open offer that closed on Wednesd… Read MoreAirtel refused to pay Videocon AGR dues: DoTVideocon had sold rights to use spectrum in the 1,800 MHz band in six circles to Airtel in 2016 for Rs 4,428 crore.
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