IGI Logo

Stocks in News

* ITC: British American Tobacco is selling a 2.3% stake in the company via a block trade to institutional investors on May 28 at ?400 per share, an 8% discount to the current market price. The deal is valued at ?11,600 crore.

* IRCON INTERNATIONAL: The company received a ?102 crore order from Ircon International.

* VEDANTA: A committee will meet on May 30 to consider issuing nonconvertible debentures on a private placement basis.

* BHARAT FORGE: The Delhi High Court has set aside an arbitral award of ?77 crore and dismissed the enforcement petition filed by Tarsem Jain.

* ZINKA LOGISTICS: The board approved the proposal to change the company’s name from “Zinka Logistics Solutions” to “Blackbuck.”

* WAAREE ENERGIES: The pact between the firm's subsidiary and Ewaa Renewable Techno Solutions was mutually terminated..

* RAMKRISHNA FORGIENGS: The company will consider fund raising through shares and bonds on May 30.

* SONATA SOFTWARE: The company partnered with Qualtrics to enhance customer experience and build global brands.

* MUTHOOT CAPITAL: The company will consider a bond fundraise proposal on May 30.

Economic News

* Track credit schemes, add re focus in Capex survey: MoSPI advocates for monitoring credit access program impact in upcoming surveys to bolster enterprise formalization and financial inclusion. The ministry suggests incorporating questions on renewable energy investments in the CAPEX survey. CEA emphasizes granular data's importance for sustaining policy reform, highlighting ASUSE and CAPEX surveys' role in depicting private sector activity.

* FDI inflows hit 3-yr high, grow 14% to $81 b in FY25: India's FDI equity inflow experienced a 24.5% on-year decline in January-March FY25, reaching $9.34 billion. However, overall FDI equity inflows for FY25 rose by 13% to $50 billion. Total FDI surged 14% to $81.04 billion, marking a three-year high, with the services sector leading as the top recipient and Maharashtra attracting the highest share of inflows.

Global News

* UK’s economy shows cautious optimism with stronger retail sales, rising confidence, and easing energy costs: The UK’s economic outlook in 2025 shows rare positive momentum, highlighted by a stronger-than-expected 1.2% rise in April retail sales and improved consumer confidence. Sterling strengthened to $1.35 following the data, defying expectations of a slowdown amid global trade tensions. Favorable weather and a late Easter likely boosted sales, while electricity prices are set to drop 7% in July, easing household expenses and potentially boosting spending. Economists predict a 0.6% annualized growth for Q2, supported by high savings and improved confidence, though inflation, wage softness, and employment concerns temper optimism. The UK’s economy grew 0.7% in Q1, with wages rising 5.9% annually. While some warn the retail surge is weather-driven and temporary, others note consumers are cautiously spending after rebuilding savings during pandemic and inflation challenges. This cautious optimism may prompt the Bank of England to hold interest rates steady for now

SEBI Registration number is INH000000081.

Please refer disclaimer at https://geplcapital.com/term-disclaimer