Carlyle looking to invest $1 Bn in Axis; Kotak Bank launches Rs 7500 crore QIP | Top Headlines
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Top Headlines of the day 1 SGX Nifty in the pre-open rates shows that Asia is a bit lukewarm. The key stocks to look out for today will be Bharti Airtel as the pressure on the stock increases after the promoters decide on selling. Yesterday Bharti Airtel fell less than 5 and a half percent. Will it drift lower further? TCS has now come up with its annual numbers and they even said that we are entering the news fiscal era time when all major economies have been brought to a standstill. The impact has been widespread and huge and the next few months will be difficult. Indian markets opened higher with Sensex up 61.98 points at 30,671.28 and the Nifty traded 20.25 points at 9,049.30. Nifty continues to hover around the 9080 mark. 2 Carlyle mulls $1 billion bet on Axis bank and post-infusion Carlyle will own 5 - 8% in Axis 'If you remember 2.5 years back Axis Bank got the first dose what was then described as Confidence Capital with a billion $ & infused by American Private Equity Fund Bain and a consortium of investors are together put in 1.8 billion dollars at that point in time subsequently in 2019. Axis did raise capital for 12 thousand crores through QIP. Carlyle and Axis Bank top management are engaged in the discussion. They might put in another round of capital into the bank. 3 Mega Share sale: Kotak Mahindra Bank launches Rs 7500 crore QIP Kotak fundraising QIP has been launched at a floor price of Rs 1147.75/- per share. If you get the 5% discount then the price comes to Rs 1090 per share. This will enable the bank to raise anywhere between 7000 to 7400 crores at the upper limit depending on what the discount finally is and what price the shares have been allotted. The promoter will be looking to dilute further and sell some shares in order to comply with RBI norms. 4 #EarningsWithETNOW | Here's an analysis of Dabur India's Q4FY20 earnings report - No significant impact on debtors, inventory - See the impact of Rs 60 - 80 crore on net profit from the virus. - COVID-19 has no impact on the ability to service debt - See the impact of Rs 400 - 450 crore on revenue from ops from the virus. - Cons revenue at Rs 8078 crore vs ET Now Poll of Rs 8055 crore - Cons PAT Rs 399.8 Crore vs ET Now Poll of Rs 930 crore 5 Opening up of the air space is one of the best news in recent times. We need a clear message from state & centre on opening up of hospitality space as well. Nearly 40% of our hotels have been open through the lockdown in some capacity, such as hosting medical staff and for quarantine purposes. There has been no fiscal stimulus, but we believe that policymakers have a better plan for us; expect something to come. Especially since hospitality is the strongest pillar in the making of Atmanirbhar Bharat. This is the right time to declare the tourism sector as an industry; will have access to benefits. IHCL will survive; have access to cash & other revenue streams. Travel will come back with a bang; may take 12-18 months, but will see a return, waiting patiently until then, says Puneet Chhatwal, IHCL 6 There was a serious disruption in crude demand due to COVID19. We are reinvesting the money saved on crude for development & welfare purposes. Due to the fall in crude prices, India saved Rs 25,000 cr due to the crash in crude prices. The ministry bought around 9 million tn crude & put it in the high seas. This allowed India to save nearly 38-39 million tn to take advantage of low crude prices. However, want to convert towards renewable energy in a big way but currently, India will give priority to coal gasification. We are prepared to put roadmap for diversified energy basket in place, says Dharmendra Pradhan, Oil Minister in an exclusive interview to ET NOW Watch! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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