Zee Entertainment Enterprises share price rose 15 percent in the early trade on November 21 after promoters of the media house mulled selling their stake in the company.Essel Group, a promoter of the company, is looking to sell up to 16.5 percent stake in the media company.After the transaction, Essel's holding will come down to five percent in the company, out of which encumbered holding will be 1.1 percent.Close The stake sale will be to clear loan obligations to certain lenders of the group. related news D-Street Buzz: Oil & gas stocks fall led by BPCL; L&T gains, UCO Bank zooms 16% GE Shipping share price gains 3% on closure of buyback Reliance Capital share price locked at lower circuit after assets sale restriction Also Read - Essel Group to lose controlling stake in Zee EntertainmentOf the 16.5 percent, 2.3 percent will be sold to OFI Global China Fund -- a subsidiary of Invesco Oppenheimer Developing Markets Fund -- which already held 8.7 percent stake in the … [Read more...] about Zee Entertainment share price rises 15% on stake divestment
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Indian market created history yet again on November 20 when the Sensex hit a new high of 40,816, while the Nifty had a touch-and-go moment with 12,000, just 120 points shy of its best-ever performance of 12,103.So, what should be the trading strategy? Is it time to buy the fear in the small and mid-cap space or stay with steady large-cap stocks?The answer lies in your risk-taking ability. Even though the market valuations look stretched, largecaps could still be in favour. However, value buying could be seen in select mid and small-cap stocks, say experts.Close The market is at record highs and valuations have been stretched since the last quarter. The broader markets are still significantly lower from their highs as Small and Midcap indices are still down by about 20 percent from their record highs. related news Don’t miss! Stocks from life insurance and AMC likely to be included in Sensex & Nifty Banking set to see a recovery, life insurance the next big sector: … [Read more...] about What should be your strategy, buy largecaps or chose from mid & smallcaps?
ICICI Direct's IPO report on CSB BankCSB Bank (CSB) is one of the oldest private sector banks in India with a history of over 98 years and a strong base in Kerala along with a significant presence in Tamil Nadu and Karnataka. The bank is promoted by FIH Mauritius Investments Ltd (FIHM). FIHM is a wholly-owned subsidiary of Fairfax India Holdings Corporation. The bank offers a wide range of products and services to its customer base of 13 lakh (as on FY19) aided by 412 branches, with focus on SME, retail and NRI customers. As of September 30, 2019, CSB has advances of | 11298 crore. Geographically, the company has ~83% exposure towards three states viz. Kerala, Tamil Nadu and Karnataka. CSB has 412 branches across 16 states and four union territory with employee base of 3001 as of FY19. The bank has healthy CASA deposits of ~| 4372 crore with CASA ratio of 28.2% as of September 30, 2019.Valuation and OutlookCSB’s performance has not been encouraging in the past with rise in NPA … [Read more...] about Subscribe to CSB Bank: ICICI Direct
The economic slowdown is likely to weigh on the credit offtake of the banking system, but brokerage firm BNP Paribas says in India the sector will recover, thanks to lower cost of funds, cost efficiencies and lower tax.The brokerage said higher operational efficiency driven by digital initiatives and lower workforce requirements will ensure that the cost to income ratio maintains its downward trajectory."We believe a lower cost of funds, cost efficiencies, and the benefit from lower tax rates should lead to return on equity (RoE) accretion of 370bps for private banks. Higher RoEs should warrant much higher price-to-book ratios (P/Bs). We see a 10-15 percent upside from current valuations for private banks over the next five years," said BNP Paribas.Close Given that the asset quality cycle has peaked, the credit cost should be lower than those in the previous cycle, the brokerage said. related news Sensex at record high but midcaps likely to generate wealth; 20 stocks … [Read more...] about Banking set to see a recovery, life insurance the next big sector: BNP Paribas
Facebook has launched a new app, and this time it is related to memes. The social networking giant has released a new meme-creation app called Whale. The app allows users to edit photos with text and stickers in order to create memes that can be shared on social media or forward to their contacts.The Whale app is currently available only in the Canadian App Store for iPhones. Facebook’s New Product Experiment (NPE) team is the brains behind the development of this app, first spotted by intelligence firm Apptopia and reported by The Information. As mentioned earlier, Whale lets users personalise a meme by adding stickers or text to an image and share it over social media or messenger.Users can browse through the stock library photos, click a photo in real-time or choose one from the camera roll. The app also allows users to create their custom image stickers using the crop and cut tools.Close The app also features a blank canvas and up to four-grid layouts. Other tools … [Read more...] about Facebook’s new Whale app lets iPhone users create memes for free