Mahindra Finance gets nod to raise Rs 1,055 crore

Stocks of Mahindra & Mahindra will be in focus, on Friday

Mahindra & Mahindra Financial Services Limited, one of the  leading non-banking finance companies, announced that the company has approved to issue 2,50,00,000 Equity Shares of face value of Rs. 2.00 each at a price of Rs. 422.00 each aggregating to Rs 1,055 crore to Mahindra & Mahindra (M&M), the holding company (the Promoter).

Following this allotment, the paid-up share capital of Mahindra & Mahindra Financial Services Limited stands increased from 56,87,64,960 equity shares to 59,37,64,960 and the percentage shareholding of Mahindra & Mahindra stands increased from 51 percent.

FPIs infuse USD 2.6 billion in Indian capital markets in Nov

Foreign investors have infused USD 2.6 billion in the country's capital markets this month so far, boosted by govt’s announcement of recapitalizing PSU banks and India faring well in the World Bank's 'Ease of doing business index'.

This follows a net inflow of over Rs 19000 cr in capital markets including equity & debt, last month. Prior to that, FPIs had pulled out more than Rs 10,000 crore in Sept.

As per depository’s data, FPIs infused Rs 16,455 crore in equities during Nov 1-24, in addition, they put in Rs 754 crore in the debt market during the period under review, resulting in an inflow of Rs 17,209 crore.

The inflow can be the result of govt’s notice of recapitalizing public-sector banks, which is expected to boost up lending and propel economic growth.

In November, what triggered inflow was subsequent on news about India faring well in the World Bank's “Ease of doing business index” and a jump in core sector growth. Further, the US-based Moody's has newly upgraded India's sovereign credit rating by a notch to 'Baa2' with a stable outlook.

Overall, FPIs have invested Rs 53,800 crore in equities this year and another Rs 1.46 lakh crore in debt markets.