Latest news with #Ownership
See - Sada Elbalad
4 days ago
- Business
- See - Sada Elbalad
Oil prices rise after OPEC+ agrees to further production increases.
Taarek Refaat Oil prices rose in early trading on Monday after OPEC+ agreed to a new production increase of 411,000 barrels per day in July. Brent crude futures rose more than $1 to $64 a barrel. US crude futures also rose more than $1 to $62.12 a barrel. Latest Oil Prices: WTI Crude $62.46 +2.75% Brent Crude $64.27 +2.37% Murban Crude $63.77 +2.67% Louisiana Light $64.69 +1.70% Bonny Light $78.62 -2.84% Opec Basket $63.78 +0.00% Mars US $72.21 -1.45% Gasoline $2.044 +1.45% Natural Gas $3.525 +2.26% In a move aimed at supporting oil market stability, eight OPEC+ countries announced a gradual increase in production levels starting next July, while affirming their full commitment to previous agreements. Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and the Sultanate of Oman met via video conference today, May 31, 2025, to review the global oil market situation and future prospects. The eight countries indicated that the decision was based on strong market fundamentals, low global oil inventories, and the continued positive outlook for the global economy. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan
Time of India
6 days ago
- Business
- Time of India
Eternal block deal: BNP Paribas buys shares worth Rs 1,484 crore in Zomato parent
Eternal shares ended with 5% gains on Friday, likely riding on a block deal where BNP Paribas Financial Markets bought shares worth Rs 1,484 crore in the food delivery company. BNP Paribas Financial Markets, which is an arm of French multinational bank BNP Paribas, today bought over 6.24 crore shares at a price of Rs 238.25 a piece. The deal is worth Rs 1,489 crore. In a separate block deal, it also sold nearly 1.9 lakh shares at a price of Rs 239.95, taking the deal size to Rs 4.5 crore. On a net basis, shares worth Rs 1,484 crore were purchased. Eternal shares were purchased by BNP Paribas at a premium of 4.3% over the Thursday closing price of Rs 228.37 on the NSE. The deal followed a reduction in the Foreign Ownership Limit (FOL) by FTSE. In FTSE All World Index, the investability weighting of the stock went down from 82.74% to 49.5%. Also Read: Eternal may see outflows worth $840 million following FTSE, MSCI's weight cuts Live Events Eternal saw its net profit fall by 78% year-on-year (YoY) to Rs 39 crore in the March 2025 quarter. Revenue from operations increased 64% YoY to Rs 5,833 crore. Profitability was hit by higher expenses, which jumped as much as 68% YoY to Rs 6,104 crore. The drop in profit was also attributed to higher investments in expanding the company's quick commerce vertical, Blinkit, as well as increased infrastructure costs across segments. Adjusted EBITDA during the fourth quarter declined 15% YoY to Rs 165 crore.
Time of India
26-05-2025
- Business
- Time of India
Eternal shares slip 4% after FTSE, MSCI cut stock weight; $840 million in passive outflows likely
Shares of Eternal , formerly known as Zomato , slipped 4% to an intraday low of Rs 227.95 on the BSE on Monday amid expectations of passive outflows worth $840 million following weightage cuts by global index providers FTSE and MSCI . The revisions come after a reduction in the Foreign Ownership Limit (FOL) for the stock. In the FTSE All World Index, Eternal's investability weighting has been slashed from 82.74% to 49.5%. The FOL determines the extent to which foreign investors can hold a company's shares. A reduction in this limit forces global indices to adjust the stock's weight to reflect its lower availability to foreign investors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why Chattarpur Flats Are Ideal for You A D Infra Learn More Undo FTSE noted that while Eternal will remain part of the index, the total number of shares in issue—9,064,966,438—remains unchanged. The changes will take effect at the start of trading on Wednesday, May 28. Eternal is currently included in the FTSE MPF All World Index, FTSE Global Large Cap Index, and FTSE Emerging Index. It is also part of the MSCI India Index . Live Events "Unlike headroom-related reductions (which are implemented in a phased manner), a direct FOL cut may lead to a full investability weight reduction in a single step during this interim event. We expect outflows of $380 million from this is a downward revision," a note by IIFL Alt Desk said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Additionally, MSCI has announced a Foreign Inclusion Factor (FIF) adjustment for Eternal as part of its May review, which could trigger another $460 million in passive outflows. These adjustments will be effective from May 30, 2025. Eternal shares have come under pressure after nearly 99% of shareholders voted in favour of capping foreign ownership. According to Jefferies, the stock could see total outflows of up to $1.3 billion due to these changes. Also Read: High conviction picks! ICICI Bank, HAL among 10 large-cap stock ideas from PL Capital Eternal share price target According to Trendlyne, the average target price for Eternal stands at Rs 272, implying an upside of nearly 14% from current levels. Among the 29 analysts covering the stock, the consensus rating is 'Buy'. Eternal shares performance Eternal shares closed at Rs 237.4 on Friday, up 3.6% on the BSE, while the Sensex rose 0.95%. The stock is down 14% year-to-date but has surged 275% over the past two years. Its current market capitalisation stands at Rs 2,29,147 crore. Also Read: Stocks in news: Firstcry, Nazara, Swiggy, JSW Steel, NTPC ( 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
26-05-2025
- Business
- Time of India
Eternal shares in focus after FTSE, MSCI cut stock weight; $840 million in passive outflows likely
Eternal shares: The changes follow a decrease in the Foreign Ownership Limit (FOL) for the stock. As a result, Eternal's investability weighting in the FTSE All World Index has been cut from 82.74% to 49.5%. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Eternal share price target Eternal shares performance Shares of Eternal , formerly known as Zomato , will be in focus on Monday amid expectations of passive outflows worth $840 million following weightage cuts by global index providers FTSE and MSCI The revisions come after a reduction in the Foreign Ownership Limit (FOL) for the stock. In the FTSE All World Index, Eternal's investability weighting has been slashed from 82.74% to 49.5%.The FOL determines the extent to which foreign investors can hold a company's shares. A reduction in this limit forces global indices to adjust the stock's weight to reflect its lower availability to foreign noted that while Eternal will remain part of the index, the total number of shares in issue—9,064,966,438—remains unchanged. The changes will take effect at the start of trading on Wednesday, May is currently included in the FTSE MPF All World Index, FTSE Global Large Cap Index, and FTSE Emerging Index. It is also part of the MSCI India Index "Unlike headroom-related reductions (which are implemented in a phased manner), a direct FOL cut may lead to a full investability weight reduction in a single step during this interim event. We expect outflows of $380 million from this is a downward revision," a note by IIFL Alt Desk MSCI has announced a Foreign Inclusion Factor (FIF) adjustment for Eternal as part of its May review, which could trigger another $460 million in passive outflows. These adjustments will be effective from May 30, 2025. Eternal shares have come under pressure after nearly 99% of shareholders voted in favour of capping foreign ownership. According to Jefferies, the stock could see total outflows of up to $1.3 billion due to these to Trendlyne, the average target price for Eternal stands at Rs 272, implying an upside of nearly 14% from current levels. Among the 29 analysts covering the stock, the consensus rating is 'Buy'.Eternal shares closed at Rs 237.4 on Friday, up 3.6% on the BSE, while the Sensex rose 0.95%. The stock is down 14% year-to-date but has surged 275% over the past two years. Its current market capitalisation stands at Rs 2,29,147 crore.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
24-05-2025
- Business
- Economic Times
Eternal may see outflows worth $840 million following FTSE, MSCI's weight cuts
Food delivery company Eternal, formerly known as Zomato, is staring at a passive outflow of $840 million as global index majors FTSE and MSCI plan to slash the stock's weightage in their portfolio. ADVERTISEMENT This follows a reduction in the Foreign Ownership Limit (FOL). In FTSE All World Index, the investability weighting from 82.74% to 49.5%.This limit caps how much of a company's shares can be held by foreign investors. When this limit drops, index providers like FTSE and MSCI cut the stock's weight in their indices to reflect the reduced availability for global investors. Eternal will remain in the index with unchanged shares in the issue total of 9,064,966, 438, a release issued by FTSE said. The change will be effective from the start of trading on Wednesday, May Eternal shares are currently part of FTSE MPF All World Index, FTSE Global Large Cap Index and FTSE Emerging Index. ADVERTISEMENT Eternal is also part of the MSCI India index."Unlike headroom-related reductions (which are implemented in a phased manner), a direct FOL cut may lead to a full investability weight reduction in a single step during this interim event. We expect outflows of $380 million from this is downward revision," a note by IIFL Alt Desk said. ADVERTISEMENT MSCI has also announced FIF change along with the May review in Eternal which could see an outflow of $460 million, IIFL Alt Desk said. The adjustments will become effective from May 30, of Eternal have been under pressure after an overwhelming majority of 99% shareholder votes came in favour of the proposal to impose a cap on foreign ownership. According to Jefferies, the stock can see outflows of $1.3 billion. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
