Led by a confluence of global factors like sharper-than-expected weakening of the US labor market, unwinding of Yen carry trades and rising geopolitical tensions in the Middle East, FIIs withdrew $1.3 billion from the Indian stock market in the week. However, buying of around $2.2 billion worth of equities by domestic institutional investors last week … Read more
The Reserve Bank of India (RBI) has announced a final redemption price for the first tranche of the sovereign gold bond (SGB) scheme at Rs 6,938 per gram and fixed the redemption date as August 5, Monday. Those who invested in the scheme have made an income of a whopping 122% (Rs 3,819) over the … Read more
Automaker Toyota Kirloskar Motor on Wednesday said it will set up a new manufacturing plant in Maharashtra at an investment of around Rs 20,000 crore. The company has inked a Memorandum of Understanding (MoU) with the Maharashtra government to examine the setting up of a greenfield manufacturing facility at Chhatrapati Sambhaji Nagar, Toyota Kirloskar Motor … Read more
Adani Energy Solutions launched a qualified institutional placement (QIP) on Tuesday to raise $1 billion (₹8,373 crore), showed a term sheet issued by the bankers. The issue comprises a base deal of up to ₹5,861 crore ($700 million) and a greenshoe option to upsize by up to an additional ₹2,512 crore ($300 million). The company … Read more
Based on the consensus expectations, Jitendra Sriram, Senior Fund Manager, Baroda BNP Paribas Mutual Fund, expects the market may be marginally disappointed with the earnings in the current quarter. “While the consensus earnings for FY2024-25 are in the low teens, we expect the growth to be more in 2H,” he said, explaining that elections and … Read more
The foreign portfolio investor (FPI) community, which is set to play a major role in positioning India as the third largest economy in the world, has pumped in nearly 52,910 crore in equity and debt this month (till July 26). FPIs were consistent buyers as the Union Budget 2024-2025 focused on fostering a stable and … Read more
Gautam Adani’s power transmission unit has selected investment banks to arrange a share sale that could raise at least Rs 50 billion ($597 million), according to people familiar with the matter. Adani Energy Solutions Ltd. are working with advisers including ICICI Securities Ltd., Jefferies Financial Group Inc. and SBI Capital Markets to prepare for the … Read more
The budget continues to build on the recent economic progress, and despite substantial provisions for necessary investments, the fiscal deficit is decreasing. It notably prioritises nine areas, which include agriculture, employment, human development, energy security, manufacturing, innovation, infrastructure, and next-generation reforms. Significant allocations and initiatives are aimed at transforming India’s education and employment landscape. Efforts … Read more
India’s capital market regulator has proposed a new asset class, different from mutual funds, Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs). A look at what this means: What is the new asset class that’s in the works? To meet the growing demand for financial products in India, the Securities and Exchange Board of … Read more
New Delhi: Japan’s Softbank investment arm Softbank Vision Fund exited from Paytm in the June quarter at a loss of around USD 150 million, sources aware of the development said. Softbank invested about USD 1.5 billion in One97 Communications — the owner of Paytm brand — in tranches in 2017. “Softbank has exited Paytm at … Read more
