Category: Uncategorized

M&M Rights issue at 50% discount – (but check if it is really at 50% discount to CMP)

When M&M Financial Services recently announced its rights issue, there was not much of a surprise. After all, every financial service company was trying to shore up its capital base with fresh equity. The idea was two-fold. Firstly, it gives them the necessary capital buffer to expand their loan book, once normalcy is restored. Secondly,

Midnight News – Jun 11th 2020

    Less than two weeks after Moody’s downgraded India’s sovereign rating and its outlook, S&P has taken a more measured stance and retained its rating as well as its outlook. Now all the three rating agencies have placed India in the lowest investment grade above the speculative bracket. However, unlike Moody’s which also changed