Latest Updates Around The World
The Indian market was closed on Thursday for the Christmas holidays. On Wednesday, Dalal Street closed lower, with the Sensex and Nifty retreating amid thin pre-festive trading as foreign investors turned net sellers and a lack of new triggers kept risk appetite in check. Losses in oil and gas, pharmaceutical and IT stocks weighed on […]
Mumbai: Shriram Finance extended its record run on the stock markets as analysts raised their price targets for the stock by 16%-36% after the lender announced that Japan’s MUFG Bank would buy a 20% stake in the company. The stock rose 3.7% to close at an all-time high of ₹935.10 on Friday. The new price […]
The Indian market ended higher on Friday, with the Sensex and Nifty supported by a firmer rupee and an improving global environment, as investors bet on further interest rate cuts by the US Federal Reserve early next year.The benchmark Sensex climbed 638 points or 0.75% to close at 85,567.48, while the Nifty 50 rose 206 […]
Even after MUFG Bank comes on board as a strategic investor and has no business promoter, Shriram Finance has no plans to apply for a universal banking license, MD and CEO Parag Sharma said. business line in an interaction. He says the non-bank lender operates in a niche segment and sees no competition in that […]
The fresh capital infusion not only gives the NBFC the firepower to ramp up lending but could also prepare it for a rating upgrade, making it cheaper to raise funds in the future | Photo credit: Reuters With the backing of Japan’s largest banking group MUFG, which is investing ₹39,618 crore in Shriram Finance, the […]
The Indian market ended higher on Friday, with the Sensex and the Nifty on a four-day losing streak, as cooler-than-expected inflation in the US lifted global risk appetite and revived expectations of Federal Reserve rate cuts in the coming year. The constructive mood reflected gains in Asian markets, among other supportive signals.The S&P BSE Sensex […]
Japan’s MUFG Bank has made a defining statement on the Indian credit sector with its plan to invest Rs 39,620 crore in Shriram Finance for a 20% equity stake, in what is expected to be the largest foreign direct investment in Indian financial services. For investors, the size, structure and timing of the transaction read […]
Veteran banker Uday Kotak on Thursday welcomed MUFG Bank’s move to buy a 20% stake in Shriram Finance, but questioned whether the company would continue as a non-banking financial company (NBFC) or file as a bank. He noted that the current NBFC structure offers significant growth potential without the regulatory constraints faced by banks. “Happy […]
Mitsubishi UFJ Financial Group Inc. is nearing a deal to buy a minority stake in Shriram Finance Ltd., according to people familiar with the matter, the latest foreign bank to build a presence in the world’s most populous country. MUFG could invest more than ¥500 billion ($3.2 billion) to buy a stake of about 20 […]
The benchmark index Nifty started the month of December on a strong note, posting a new all-time high in its very first trading session. However, this early enthusiasm soon suffered a healthy setback, a typical breather after a sharp surge. Interestingly, this decline found a strong base near the 20-day EMA – a zone that […]
