State Bank of India (SBI), India's largest lender, is looking to raise Rs 10,000 crore through 15-year infrastructure bonds as early as next week, said multiple sources aware of the development. Market participants expect a coupon in the range of 7.15-7.18 per cent for SBI's upcoming infrastructure bond issuance. This comes as demand for longer-tenor papers has remained strong in recent domestic capital market offerings.
Russia's state-owned oil firm Rosneft has agreed to supply up to 500,000 barrels per day (bpd) of crude oil to Indian upstream oil and gas major Reliance Industries (RIL) in the largest-ever energy deal between the two countries, Reuters reported on Thursday. The 10-year agreement amounts to 0.5 per cent of global oil supply and is valued at roughly $13 billion per year at current prices, it said.
'We plan to launch new initiatives, including cash flow-based lending, to ensure borrowers are not burdened and can access funds more quickly.'
The total number of demat accounts in the country stood at 171.1 million as of August 31.
The fast-growing Indian online gaming sector is facing a significant threat from money laundering, necessitating urgent steps to ensure its sustained success and protect the country's robust digital economy, a report said on Thursday. The essential measures outlined in a report by the Digital India Foundation include forming a dedicated task force for illegal operators, creating a whitelist of legal operators, combating misleading advertisements, and incorporating principles of financial integrity and international cooperation.
Five years after USA Cricket shared its plans to launch a domestic T20 tournament, the inaugural edition of the MLC kicked off having assembled an impressive array of investors.
'However, this process will take some time. Depending on the approval timeline, it may span a few quarters.'
The Adani group will have understood the fragility of investor trust in the group. The group needs to improve transparency including in areas like share-ownership (which they have long and mistakenly believed can be side-stepped) and related-party transactions, among others, Amit Tandon and Hetal Dalal point out.
After a stellar 2023, the mutual fund industry sustained its growth momentum in 2024 with an impressive Rs 17 lakh crore surge in assets, driven by buoyant equity markets, robust economic growth, and increasing investor participation. Experts are predicting the positive trend will extend into 2025.
In an effort to make awareness among farmers about the benefits of Futures trade in commodities, NCDEX and Forward Market Commission jointly organised an awareness programme here recently.
French energy giant TotalEnergies SE on Monday said it will make no new financial contribution as part of its investments in Adani group companies till the Indian firm's founder is cleared of bribery charges. The energy giant said it was not aware of the investigation into the alleged corruption. TotalEnergies is one of the biggest foreign investors in billionaire Gautam Adani's business empire and had previously taken stakes in the group's renewable energy venture Adani Green Energy Ltd (AEGL) and city gas unit Adani Total Gas Ltd (ATGL).
The number of active SIP accounts is nearing the 100 million milestone.
IT major Cognizant's subsidiary TriZetto has slapped a lawsuit on Infosys in a US federal court, accusing the Bengaluru-headquartered company of stealing trade secrets and information related to healthcare insurance software. Infosys, in a statement, denied all allegations. The company asserted it is aware of the lawsuit and will defend its position in the court.
The government is formulating guidelines on the use of ethylene oxide (ETO) in samples of spices for the domestic market and exports, people aware of the matter said, as it plans to step up efforts to make quality checks more stringent. ETO, a flammable, colourless gas, is typically used as a disinfectant. It is also used as a sterilising agent and an insecticide to reduce microbial contamination in spices. However, its use is considered carcinogenic, beyond permissible limits.
HDFC Bank on Wednesday reported a 2.3 per cent year-on-year rise in its consolidated net profit to Rs 17,657 crore for the October-December quarter, restricted by slower loan growth. On a standalone basis, the largest private sector lender's net profit came at Rs 16,735.50 crore for the period, up from Rs 16,372.54 crore in the year-ago period, but marginally down from the preceding quarter's Rs 16,820.97 crore.
'Son believes India has a significant opportunity in chip design, especially in creating IP that will be uniquely Indian.'
Gaps in enforcement, limited monitoring, and easy access to firecrackers from the NCR region where restrictions were slack were largely responsible for the widespread flouting of the cracker ban in Delhi on Diwali, experts have opined.
'A struggling actor once came to me and told me there's no work.' 'I said when there's no work, that's when you have a lot of work.' 'He said he didn't understand.' 'I explained that you have to keep reading, watching, writing, traveling.' 'It is like riyaaz for an actor.'
As the Drugs Controller General of India (DCGI) is set to crack down on companies to ensure compliance with printing QR codes on top-selling brands to curb counterfeiting, top pharma companies say they welcome the regulator's mandate and that they are on track. They also view it as a positive step to ensure patient safety. Sheetal Arora, CEO of Mankind Pharmaceuticals, which has already adopted QR codes in 20 of their products, stated: "We strongly advocate for mandatory implementation of barcodes and QR codes on medicines as this initiative will not only protect patients but also strengthen the integrity of our healthcare system by reducing circulation of counterfeit drugs."
The swindled amount is nearly half of WazirX's total assets.
'... that it once again shies away from renewing its commitment to strategic divestment,' points out A K Bhattacharya.
Before heading abroad, ensure your travel insurance policy offers all essential coverage and has an adequate sum insured.
The fundamental responsibility for preventing such crimes and for bringing the criminals to justice rests with the State, and it cannot abdicate that function.
The city's air quality dropped to the "very poor" category, with an Air Quality Index of 330 at 10 pm.
Abhishek Bachchan conveys the numerous chapters and challenges his mind, body and soul go through with a never-before candour, observes Sukanya Verma.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Markets to track inflation data, global trends, FII trading this week: Analysts New Delhi, Dec 8 (PTI) Investors' sentiments will be guided by a host of domestic and global macroeconomic data announcements this week, along with the trading activity of foreign investors and trends in world stocks, analysts said. Besides, the rupee-dollar trend and movement of global oil benchmark Brent crude will also be crucial in dictating terms in the market, experts added. "The domestic stock market is likely to be shaped by a mix of global cues, domestic economic indicators, and the flow of investments from foreign and domestic institutional investors. Key factors like the rupee's exchange rate and crude oil prices will play a critical role in determining market trends. "Globally, geopolitical tensions, particularly the ongoing Russia-Ukraine conflict, continue to pose challenges. However, recent declines in the dollar index and US bond yields have created a more favourable environment for emerging markets like India," Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd, said. On the economic front, significant macroeconomic releases, including retail inflation and industrial production data from India as well as US core CPI, are expected to influence overall market sentiment, Gour added. Last week, the BSE benchmark jumped 1,906.33 points or 2.38 per cent, and the NSE Nifty climbed 546.7 points or 2.26 per cent. "FIIs turning buyers in early December, in a total reversal of their sustained selling strategy during the last two months, has altered the market sentiments. The change in FII (Foreign Institutional Investors) strategy is getting reflected in stock price movements, particularly in large-cap banking stocks in which FIIs have been sellers," VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said. The release of US CPI inflation data will give some insights into the Fed's December meeting, an expert said. "The markets' attention is expected to turn towards macroeconomic indicators like IIP and CPI inflation. Additionally, the trend of FII inflows, following their recent buying spree, will remain a key focal point for market participants," Ajit Mishra - SVP, Research, Religare Broking Ltd, said. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd, said this week will see significant economic data releases, including GDP numbers from Japan and the UK, along with China's CPI and India's CPI.
The gap in demand for electric vehicles between large and mid-sized cities in the country is shrinking and the Tier-II 2 cities are likely to emerge as the next big demand centre for EVs, a report said on Tuesday. An analysis of the electric two-wheeler and car sales by strategic research provider BloombergNEF (BNEF) from 207 cities across 10 states also suggests that the electric two-wheeler sales in some tier 2 markets have surpassed metropolitans while within tier 2 cities, state capitals generally leading the growth in electric car sales.
The Central government's decision to ban futures trading in several commodities has not deterred the firms from going in for a big awareness drive in Punjab, India's wheat bowl.
'The jury panel said that my collection should not be limited to a college fashion show; it had much more potential. They encouraged me to sign up for the annual National Designer Awards organised by the World Designing Forum.'
'Whether I am optimistic or pessimistic is not the issue; I am just going by the evidence available.' 'The Indian economy and financial sector are now well-placed and very resilient in dealing with any kind of spillover coming from the external world.'
'We have been fighting to treat political prisoners differently.' 'Except for Hyderabad and Kolkata, the concept of keeping political prisoners separate doesn't exist in India.'
'Indian investors have always been debt-heavy but with growing financial awareness they are getting comfortable with equities.'
The RBI is fully aware that the high-cost loans and high indebtedness of the borrowers could pose financial stability risks, if not addressed by these NBFCs. Governor Shaktikanta Das has issued a stern warning, saying the RBI is closely monitoring these areas and will not hesitate to take appropriate action, if necessary, if the culprits don't opt for self-correction. Watch out for some action, soon, notes Tamal Bandyopadhyay.
Bharatiya Janata Party MP Tejasvi Surya on Sunday, became the first public representative to complete the Ironman 70.3 Challenge in Goa, which included 2 km of swimming, 90 km of cycling, and 21 km of running, the leader's office stated in a release.
'Kamal has surfed and navigated a lot of tidal waves, manoeuvring the peaks and troughs, combining rare intelligence and commonly available intuitions to overcome unimaginable crises all his life.' 'There is no looking back at the past, for his only motto has been 'Tomorrow belongs to us'!'
If Hindenburg or its partner do not join the investigation, then Sebi may pass an ex-parte order against it, which may be enforced as a foreign award in US courts.
The National Stock Exchange of India (NSE), which is still awaiting regulatory approval for its initial public offering (IPO), is now planning to streamline the process of buying the unlisted stocks of the company, thereby reducing the time taken for such deals from about four months to just a week. The management of India's biggest stock exchange has affirmed that it is working to reduce the time taken. According to the analysts, certain approvals required at present from NSE for buying stocks, are adding to the processing time.
Equity investors suffered a massive loss of Rs 31 lakh crore on Tuesday as markets went into a tailspin with the BSE Sensex tumbling nearly 6 per cent as vote counting trends showed the BJP may not have a clear majority in the Lok Sabha polls. Erasing the record-rally of the previous trade, the 30-share BSE Sensex cracked 4,389.73 points or 5.74 per cent to settle at 72,079.05. During the day, the benchmark tanked 6,234.35 points or 8.15 per cent to hit a nearly five-month low of 70,234.43.
The Reserve Bank of India (RBI) conducted two overnight variable rate reverse repo (VRRR) auctions on Tuesday, marking the first instance of such action in a single day. The move aimed to reduce liquidity from the banking system, which has been largely in deficit mode for the past four months. Market participants noted that the central bank held the second VRRR auction due to its awareness of funds being released to banks during the day.
