Reliance Industries Ltd, the nation's most valuable company, on Thursday said it has raised $4 billion (around Rs 30,000 crore) in debt through the largest ever foreign currency bond issuance by an Indian entity. The oil-to-telecom conglomerate plans to use the proceeds of the three tranche issues to retire existing borrowings. The issue was "nearly 3 times oversubscribed with a peak order book aggregating around $11.5 billion," the company said in a statement. This is the largest ever foreign currency bond transaction in India, eclipsing ONGC Videsh Ltd's $2.2 billion US dollar bonds issue of 2014.
A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
The Sensex ended up 244 points at 28,504 on strong global cues.
The 57-year-old Bhattacharya, front-runner for the post on account of years of service left, was managing director and chief financial officer of the bank prior to her elevation.
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The HSBC Emerging Markets Index, a monthly indicator derived from the PMI surveys, continued its upward trajectory in November on the back of faster manufacturing growth.
Indo-UK business ties are becoming a two-way affair with Indian companies contributing to the growth of the British industry
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
Distribution yields could rise, but risk of Covid, higher interest rates remain.
...followed by financial services, IT, and sales and marketing.
Low home loan rates by banks could put large players in an advantageous position over smaller non-bank players, believe analysts.
At issue size of Rs 10,355 cr, the offering will be Asia's biggest this year and fifth-largest domestically.
Many Indian companies provide outsourcing services to various American entities, including large banks and financial institutions.
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
It, however, remains to be seen how much money Softbank actually puts in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity.
The move to ban Rs 500 and 1000 notes may not curb the root cause of black money.
USAID looks forward to working with each to make financial inclusion a long-lasting and sustainable reality in India.
India on Monday got the backing of Switzerland in its bid to become a member of the Nuclear Suppliers Group.
Bumper liquidity as a result of global central bank stimulus measures should prevent a sharper downturn.
CEOs of leading banks say third straight rate hike by RBI inevitable, though not desirable.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Swiss brokerage UBS joins European banking peer HSBC in shutting down its offshore derivative business
Deutsche Bank could be the next to trim its retail operations.
A revival in investment is likely to be a key near-term initiative.
While some companies, such as HSBC, have closed retail operations, big players such as India Infoline is scaling down.
RIL has faced protests from local authorities, activists and residents across India campaigning against masts and roadworks.
The real benefits can be seen when prices stabilise, preferably at levels acceptable to both consumers and producers.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
Auto and realty shares were among the top Sensex gainers.
Firms have to adhere to strict compliance requirements mandated by global parents
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
Experts say a lot of new wealth is being generated by promoters selling their stake.
The market breadth in BSE remains positive with 1,554 shares advancing and 1,196 shares declining.
The government introduced new tax rules on Wednesday aimed at reducing litigation with multinational firms over cross-border transactions the government considers tax avoidance schemes.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
'With 1.3 billion consumers, India's market has great potential.'
Former Dabur director gave sketchy details of investors and his employer after two years of tax summons.
Whether India can create labour-intensive factory jobs instead that it needs to put millions to work in the next few years looks very unlikely.
The markets will be eyeing the amendments.
India must first improve working condition, then it can concentrate on Make in India concept.
Expenditure cuts necessitated by slowing revenue growth, weak industrial activity worrisome portents
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