Financial Services

Babasaheb Kalyani, MD of Bharat Forge, denies his nephew and niece's claim to partition family assets, stating they are not part of the HUF and their lawsuit is an attempt to usurp rights. The dispute centers around the ownership of Hikal Limited, a diversified company with significant debt-funded expansion plans.

Dr Reddy's Labs, Pidilite, United Breweries, JSW Energy, and Voltas are among the stocks to watch on Wednesday, May 8, 2024, as the Indian stock market is expected to open with modest gains. These companies reported strong financial results for the March quarter, with Dr Reddy's Labs, Pidilite, and JSW Energy witnessing significant profit growth.

Indian stock markets are expected to open with modest gains on Wednesday, mirroring a mixed trend in global markets. Key stocks to watch include IRB Infrastructure, which reported a 45% rise in consolidated net profit for the March 2024 quarter, and Indraprastha Gas Ltd, which saw a 9% increase in consolidated net profit for the fourth quarter of fiscal year 2023-24.

India's Muthoot Finance has successfully raised $650 million through a US dollar-denominated bond issuance, exceeding their initial target of $1.8 billion due to strong investor demand. The company set a coupon of 7.1250 per cent, lower than their initial guidance of 7.3750 per cent, reflecting the positive investor response.

The appointment of Vice Chancellors (VCs) in India has been a subject of controversy, particularly in West Bengal, Tamil Nadu, and Kerala, where state governments and governors have clashed over the process. These controversies highlight the need for a transparent and accountable selection process, as well as a clear definition of the roles and responsibilities of both state governments and governors in the appointment and removal of VCs.