Cube Highways Trust secured Rs 1,687.5 crore from anchor investors before its public offering. The Infrastructure Investment Trust plans to raise Rs 5,000 crore through this upcoming public issue. Prazim Trading and Investment Co emerged as the largest anchor investor, committing Rs 300 crore. Strategic investors also subscribed to units worth Rs 1,250 crore prior to the issue.
Sunteck Realty reported a twenty-six percent profit increase for the first quarter. Healthy residential sales and improved operating margins supported this growth. The company's net profit rose to approximately forty-two crore rupees. Customer collections also saw a seventeen percent year-on-year increase. This performance indicates sustained demand in the premium housing segment.
Mahindra and Mahindra Financial Services has experienced a remarkable seventy-five percent surge in net profit, driven by enhanced net interest margins and reduced provisions. The chief executive highlighted the positive impact of a recent rights issuance on the cost of funding. Disbursements soared by twenty-two percent, and there was notable growth in the non-wheels sector. However, a minor rise in overdue accounts necessitated strategic adjustments within certain segments.
Indian markets extended losses as large-cap weakness outweighed gains in broader indices despite easing oil prices. Analysts expect earnings, geopolitical developments and crude prices to guide sentiment, with Nifty seen consolidating between 23,800 and 24,350 while midcaps continue to outperform.
Markets traded in a volatile range amid Middle East tensions, elevated crude prices and weak financial stocks. Analysts expect earnings, oil prices, FII flows and geopolitics to drive sentiment, while recommending JK Cement and Chennai Petroleum after strong technical breakouts with bullish momentum.
Tata Group-backed IHCL reported its 17th consecutive record quarter, with Q1 FY27 net profit rising 18.5% and total income up 15%. Strong hotel performance, rapid expansion, acquisitions and growth businesses offset macro challenges, while the company maintained its double-digit revenue growth outlook.
ICICI Bank is close to raising at least $500 million through five-year dollar bonds via its GIFT City unit, leveraging the RBI’s concessional swap facility. The proceeds will support client financing, marking the lender’s first US dollar bond issuance in nearly a decade.
Anant Raj will demerge its data centre and cloud business into Ashok Cloud Pvt Ltd, creating a separately listed digital infrastructure company. The move aims to unlock shareholder value, support expansion to 307 MW by FY32 and strengthen its cloud services platform.
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