Articles written by Arpit Nayak - Benzinga

IREDA Shares Climb On Fundraise Approval, Up To 7% Stake Dilution For Govt

|The alternative mechanism, a decision-making body, has allowed IREDA to dilute the government's shareholding by up to 7% in one or more stages. However, even after the QIP, the government will retain its position as the majority shareholder in the company.

Bajaj Auto Shares Slip As Global Brokerage Sees 40% Downside After Sharp Run-Up

|Despite the recent high, CLSA set a target price of ₹7,000 for Bajaj Auto, indicating a potential downside of over 40%. The brokerage firm noted that while the new motorcycle launch is priced competitively, caution is necessary due to the intense competition in the premium segment.

Bajaj Housing Shares March Onward After IPO Success, Gets Its First 'Buy' Call As Brokerage Sees 27% Upside

|While the firm remains concentrated on home loans, PhillipCapital expects its construction finance book to remain stable, comprising 8%-10% of the total portfolio.

Oil India Shares Tick Up Amid Deal Talks With French Energy Giant, Bangladesh Update

|Oil India, a Maharatna status company, aims to drill over 75 wells this financial year as part of its new drilling programme. The company drilled 38 wells in FY22, 45 in FY23 year and 61 in FY24.

Jefferies Sees 20% Upside For Airtel With Tariff Hikes On Horizon, Share Price Up 60% This Year

|According to Jefferies, both Reliance Jio and Vodafone Idea are also likely to implement several tariff hikes in the near future. Jio's focus on growth and Vodafone Idea's struggles with market share loss may push both companies towards higher tariffs, it said.

Nazara Tech Share Price Wobbly As It Looks To Pump Nearly ₹1,000 Cr Into PokerBaazi

|Of the total, ₹592.26 crore will be paid in cash, while the remaining ₹239.25 crore will be settled through a share swap, representing a 3.17% stake in Nazara Technologies.

IREDA Gives Up Early Gains Of 2.6% To Trade Lower After Unit Wins Provisional Registration In GIFT City

|This strategic move is part of IREDA's broader plan to expand its global presence and explore new business opportunities in the renewable energy sector.

Jio Financial Services Shares Take A Dip Despite Strengthening BlackRock Partnership

|In a stock exchange filing, Jio Financial said it will invest ₹3 crore for the initial subscription of 30 lakh equity shares, each priced at ₹10. The company has not yet released details of its business plan for the new venture.

Vodafone Idea's Share Price Tanks 10% As Goldman Sachs Warns Of Further Market Share Losses

|Meanwhile, Goldman Sachs is more upbeat about Bharti Airtel, raising its target price to ₹1,700 from ₹900, reflecting a 10% upside from its current price. Goldman also reiterated its "buy" rating on the stock, citing strong growth and improvements in free cash flow and returns, which justify the stock's premium valuation.

Anil Agarwal's Vedanta Gets Another Shot In Arm With ICRA Upgrade, Shares Jump

|Earlier this week, Vedanta Ltd's board of directors approved a third interim dividend of ₹20 per share, with a total of ₹7,821 crore to be paid out to investors.

SpiceJet Share Price See-Saws Amid Reports That Delhi Airport Operator Is Pressing For Dues

|This is not the first time the airline has faced such issues. On August 12, Mumbai airport operator MIAL withdrew an advisory about potential flight disruptions involving SpiceJet after the airline resolved a minor financial matter.

Adani Green Shares Tank Despite Inking ₹3,000 Cr JV With French Firm

|TotalEnergies, through its affiliate entities, already holds a 19.75% stake in Adani Green, underscoring the ongoing partnership between the two companies in the renewable energy sector.

PVR Inox Shares Inch Lower As Investors Mull Shutdown Of 70 Screens In Hunt For Profits

|In a shift towards a capital-light growth model, PVR Inox aims to reduce capital expenditure on new screen additions by 25%-30% this fiscal year. The company is also exploring the monetisation of its owned real estate as it works towards becoming a net-debt free entity in the future.

IndiGo Share Price Dips Amid Reports Of Stake Sale By Co-Founder

|This stake sale is part of the Gangwal family's broader plan to gradually reduce their holdings in the airline. Rakesh Gangwal stepped down from the board of directors at InterGlobe Aviation in February 2022, announcing his intention to scale back his stake in the airline over the next five years.

Bernstein Picks DMart, Trent, Devyani As Top Picks Among Retail And Restaurants, Sees Value Beyond India's Wealthiest 10%

|According to Bernstein, the spending power of India's middle class isn't stunted by weak demand but by a lack of affordable and accessible products — a supply-side gap that presents a golden growth opportunity for companies ready to seize it.

Samsung Rival LG Follows In Hyundai's Footsteps, Mulls India IPO: Report

|At least 30 IPOs have entered India's pipeline, driven by strong demand from domestic investors. In a related move, Hyundai Motor Co, a South Korean peer, is planning to raise up to $3.5 billion through an IPO in India, according to reports.

Adani Power Shares Shrug Off Reports Of $800M In Unpaid Dues From Bangladesh To Trade Higher

|The company is currently negotiating with Bangladesh's interim government to resolve this issue, the report added.

Hindalco Shares Log Only Modest Gains Despite Unveiling Massive $10B Expansion Plans

|These projects include expansions in aluminium and copper smelters, the Aditya FRP plant, a new alumina refinery in Rayagada and the Bay Minette expansion in Novelis.

IREDA Shares Zoom Over 8% As Green Financing Firm Looks To Raise More Funds

|The proposal will be discussed in a board meeting scheduled for Thursday, August 29, where the plan will be up for approval.

Ola Electric Share Price Rebounds From Tuesday's Dip As 2 Scooters Win PLI Certification

|This makes Ola Electric the only two-wheeler and pure electric vehicle (EV) manufacturer to receive PLI certification for four products: S1 Air, S1 Pro and the two S1 X models.