Latest news with #ETNOW
Time of India
5 days ago
- Business
- Time of India
Bajaj Finserv founding firms to sell 1.6% stake for Rs 4,750 crore : Report
The founding firms of India's Bajaj Finserv will sell at least a 1.58% stake they own in the financial services company in a deal worth 47.5 billion rupees ($554 million), news channel ET NOW reported on Thursday, citing sources. The firms, which include Jamnalal Sons and Bajaj Holdings and Investment , will sell the 25.3 million shares they own in the secondary market at a floor price of 1,880 rupees per share, the report said. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo The reported floor price is at a discount to Bajaj's closing price of 1,944 rupees on Thursday. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Bajaj Finserv's founding firms have an option to sell another 5.7 million shares, or a 0.36% stake they own in Bajaj Finserv, according to the report. Bajaj Finserv did not immediately respond to a request for comment. Live Events ($1 = 85.7990 Indian rupees)
Time of India
30-05-2025
- Business
- Time of India
Bharat Dynamics shares rally 6% as govt plans Rs 40,000 crore defence R&D push
Shares of Bharat Dynamics surged as much as 5.6% on Friday to Rs 2,082.75 on the BSE after a report indicated that the Indian government is preparing to sharply increase defence R&D spending to Rs 40,000 crore next year, with plans to double it over the next five years, while enabling private players to compete on equal footing with public sector firms. According to an ETNOW exclusive citing government sources, the Ministry of Defence is working on a proposal to significantly raise R&D expenditure—from around Rs 27,000 crore currently to nearly Rs 40,000 crore by next year—and further scale it up to Rs 70,000–80,000 crore over the next four to five years. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Mountain Gear for Extreme Conditions Trek Kit India Learn More Undo The government also plans to simplify the defence acquisition process and amend existing rules to 'create a level playing field for the private sector,' the report said. It further noted that 'private sector companies will also be allowed to bid for various projects alongside PSUs such as Hindustan Aeronautics Ltd , Bharat Electronics Ltd , Mazagon Dock Shipbuilders Ltd , and Bharat Dynamics Ltd.' Shares of Bharat Dynamics Ltd (BDL) jumped on the news, with high trading volumes underscoring strong investor interest. BDL is part of the Nifty Midcap 150 index, highlighting its significance within India's mid-cap equity space. Shares of Hindustan Aeronautics Ltd also rose as much as 1.2% to Rs 5,063 on the BSE during Friday's session. Support for private sector, acquisition reform Live Events The Ministry is reportedly 'working on a proposal to support defence R&D projects' and plans to ensure that 'the private sector is likely to receive financial support comparable to public sector companies,' ETNOW said. This anticipated overhaul in R&D funding and procurement rules comes amid the government's broader push to boost indigenous defence manufacturing and reduce import dependence. The defence establishment also aims to accelerate development timelines for critical technologies by streamlining approvals and increasing private sector participation. Separate Rs 2,000–3,000 crore missile deal in pipeline Separately, Bharat Dynamics is in focus following a May 27 Moneycontrol report that the Ministry of Defence is preparing a procurement order for 500 Invar anti-tank guided missiles (ATGMs) from the state-run firm. The deal is estimated to be worth between Rs 2,000 crore and Rs 3,000 crore. The missiles, known for their precision strike capabilities, will be deployed on India's T-90 main battle tanks. The proposal is currently under financial vetting. Strategic context: Aftermath of Operation Sindoor The expected missile procurement follows Operation Sindoor, a precision military strike launched in response to a deadly terrorist attack in Pahalgam that claimed 26 civilian lives. The operation showcased India's increasing reliance on indigenous high-tech defence systems, including drones, air defence networks, and electronic warfare capabilities. The plan to equip T-90 tanks with Invar missiles from Bharat Dynamics aligns with the government's broader thrust on operational preparedness and domestic capability-building. Long-term tailwinds for BDL BDL is well-positioned to benefit from India's expanding defence budget and modernisation drive. The company currently has an order book of Rs 3,110 crore and is targeting revenue growth of 28–30% in FY25. It has also made significant progress in indigenising critical components to reduce supply chain vulnerabilities. The state-run missile maker is expanding its production capacity, aiming to double output in 3–5 years and triple it within the next decade to meet rising domestic and global demand. Also read | Market surge leads to Rs 50,000 crore worth stake sales by promoters and shareholders ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
24-04-2025
- Business
- Time of India
Axis Bank Q4 Results: PAT flat at Rs 7,117.5 crore but beat estimates, NII up 1.5%
Private sector lender Axis Bank on Thursday reported that its March quarter bet profit remained flat at Rs 7,117.5 crore vs Rs 7,123 crore in the corresponding quarter of the previous year. The bottomline was, however, higher than ET NOW poll estimate of Rs 6,681 crore. Axis Bank's Q4 net interest income (NII) came in at Rs 13,810.5 crore vs Rs 13,606 crore in Q4 of the previous fiscal year, representing a 1.5% growth. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List More to come...
