Nazara Technologies' shares are in focus after raising Rs 855 crore ($100 million) through a preferential issue of 8.9 million equity shares. SBI Mutual Fund led the funding with a Rs 220 crore investment. Other notable investors include Junomoneta Finsol, Think Investments, CaratLane founder Mithun Sacheti, Jaipur Gems CEO Siddhartha Sacheti, and others.
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International brokerage Goldman Sachs slashed its rating on microfinance player CreditAccess Grameen Ltd., as the earnings outlook remains clouded. The brokerage downgraded the NBFC's rating to 'sell', from its earlier 'buy' tag. The revised target price is Rs 564, down from Rs 1,426 per share earlier. This indicates a 42 percent downside from the previous session's close.
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KEI Industries has raised Rs 2,000 crore through a qualified institutional placement of equity shares, with strong participation from domestic mutual funds, including Kotak Mutual Fund, Motilal Oswal, and ICICI Prudential schemes. The QIP will enhance financial flexibility, support growth initiatives, and strengthen the balance sheet.
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