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| Name | Carlyle keen to invest in Axis Bank; Midcaps set to shine: Morgan Stanley | Top Headlines | 20 Aug |
| Video Uploader | Video From ET NOW |
| Upload Date | This Video Uploaded At 20-08-2020 13:18:55 |
| Video Discription | 1. Share Market Cues | A weak start for the market. Nifty stands at 11,303 and Sensex at 38,230. 399 advances as against 758 declines. Zee Entertainment sees a correction of 1.5%. Hindalco, SBI, Tata Steel, Maruti and Titan shares also off to a weak start. PVR stocks, Century Textile and LIC Housing Ltd stocks also starting at a loss. RBL Bank looking at a massive QIP of 500 million dollars. They are looking to launch which will happen today. Lupin, Cipla, MRF, Tata Chemicals are off to a good start in the market. Pressure builds on the finance companies as demand-supply imbalances exist. 2. Morgan Stanley's note on Mid and Smallcaps saying 'They believe midcaps are ready to outperform after a long struggle of 30 months. ET Now's Pankaj reports, Ridham Desai time and against saying the rally should prod of every time there is a correction. It's the broader markets that will outperform but now he categorically saying that small and midcaps tend to do better and it is time to be overweight this time. They believe since the time of demonetisation and GST the impact on midcap was very very high and because of this sector was underperforming and very select names were doing well. 3. At an investor meeting post the quarterly results, Tata Power unveiled its ambitious FY25, the company aims to double its revenue by FY25 driven by renewables, distribution and customer-oriented businesses. It also said it plans to keep a tight lid on leverage. It aims to grow it’s regulated equity base across T&D and generation (mainly distribution led) from Rs75bn in FY20 to Rs135bn by FY25. It also set 3 key pillars for FY25 vision 1. Expansion of renewables and gradual phase-out of coal generation 2. Focus on B2C through distribution licenses and new-age businesses 3. Asset-light growth through divestments, InvIT-led capital churn & franchisee models Focussing on new-age businesses like EV charging and home automation 4. RBL Bank is all set to announce fundraising via the QIP route tomorrow. The bank aims to raise up to 500 million dollars through this route. ET Now's Ajaya Sharma reports, RBL Bank set to announce big fundraising tomorrow up to 500 million dollars via QIP route and about 4 or 5 marquee investors to participate. A very advanced stage of discussion has happened with a clutch of private equity clients including multiple asset management ChrysCapital, Blackstone. Infact, some of the existing investors like Bajaj holdings and Multiples Asset are very keen participating in this round as well even some of the bigger names of global standards such as Canadian Pension Fund among other Mauritius based funds are likely to participate. 5. Private Equity giants Carlyle is looking into a close deal to invest Rs 5000 crores in Axis Bank. ET Now's Varun reports, Rs 5000 crore raise it is a combination of equity and warrants and It will be partially paid up. This will be subject to subscribing to those warrants when the tenure comes up. Axis Bank has already Rs 10000 crore and this will be an additional Rs 5000 crore which should result in the total stake of Carlyle in Axis Bank growing to 3.5 to 4%. The formal announcement will be likely in 3- 4 weeks. Why this fundraising? - Managing Stress - Capital increase 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 |
| Category | News & Politics |
| Tags | Morgan stanley | Tata power | zee | RBL fundraising carlyle | Axis bank | midcaps | small caps | GST | demonetisation | LIC housing | et now | top headlines | market news | latest news |
