“Inflation is going to be a challenge for Britannia for a couple of quarters, because it is not going to ebb so easily the inflationary pressures and price hikes tend to be delayed. â€
The initial share-sale consists of fresh issuance of equity shares to the tune of Rs 300 crore and an offer of sale (OFS) of of equity shares worth Rs 500 crore by Prakash Jain, Manjula Jain Family Trust and Prakash Jain Family Trust, according to the draft red herring prospectus (DRHP).
Total interest income fell 3 per cent to Rs 1091 crore from Rs 1122 crore a year ago. While impairment costs increased two and a half times to Rs 199 crore from Rs 68 crore a year ago.
In its letter to NSE last week, Anmi, a grouping of over 900 stockbrokers across the country, said that trading members should not be held liable for prohibitive activities carried out by authorized persons (APs) registered with them.
“We have to find the companies aligned with the economic cycle but the big theme for the next two to three years is that which we have not seen for long -- a pickup in investment or capex cycle.â€
The Nifty Pharma index closed 0.7 per cent down at 13851.25.
The Nifty Realty index was trading 0.7 per cent up at 551.9.
In a volatile session of trade, the bulls emerged strong with several stocks across cement, consumer durables and PSU names witnessing good buying interest from investors.
The money will be raised in one or more tranches, and the said issuance will be done on a private placement basis, it added.
"Gold prices traded weak with spot gold prices at COMEX trading 0.08 per cent down at USD 1,816 per ounce on Monday," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
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