Corporate bond issuances fell by around 22 per cent in August, despite easing yields as issuers delayed raising funds awaiting the US Federal Reserve to start cutting interest rates from this month. Corporates and financial institutions expect yields to fall further and borrowing costs to become cheaper, said market participants. The US Fed is widely expected to cut interest rates by 25 bps in the 17-18 September meeting, marking the start of a downward interest rate cycle.
A number of non-banking financial companies (NBFCs) have tapped into the debt capital market ahead of the festival season to meet increasing credit demand as bank funding slows. On Tuesday, Aptus Value Housing Finance secured Rs 300 crore at an interest rate of 8.75 per cent through bonds maturing in five years. ICICI Home Finance Company turned to the market to raise Rs 275 crore at 7.94 per cent, alongside another Rs 300 crore at 7.95 per cent, through bonds maturing in five and three years, respectively.
From the Sensex pack, Tata Motors, NTPC, Bajaj Finserv, Power Grid Corp, Titan, Asian Paints, IndusInd Bank, Maruti Suzuki India and Tata Steel were among the biggest gainers. Sun Pharmaceuticals, ITC, Hindustan Unilever, Bharti Airtel, UltraTech Cement and Reliance Industries were among the laggards.
Truck movements across the India-Bangladesh border are on the rise, with increasing rentals signalling a trade recovery between the two South Asian nations. Yet, geopolitical tension looms large, with Bangladesh now under an interim government for nearly two months.
Three personnel, including two of major-rank and one naib subedar, have been conferred the Kirti Chakra, the ministry said.
The Indian Army and the CRPF rush to the rescue...
An Army captain lost his life while four terrorists are believed to have been killed in an ongoing operation in the higher reaches of Jammu region's Doda district on Wednesday, officials said.
The IRGC said that Ismail Haniyeh and one of his bodyguards were killed after their residence was targeted in Tehran.
A man has built an eco-friendly house with mud, mud tiles, jute, metal, and toys in Kozhikode, Kerala.
In the meeting, Doval conveyed to Wang that peace and tranquillity in border areas and respect for the Line of Actual Control are essential for return of normalcy in bilateral ties, according to the ministry of external affairs.
The environment ministry is likely to soon issue regulations that will mandate automakers to recycle a specified percentage of steel from old vehicles, starting from the next financial year, according to people familiar with the matter. "We recently held a meeting with members of the Society of Indian Automobile Manufacturers (Siam). "The final regulations are likely to be issued in the next 10 days," a government source informed.
Midcap stocks Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch, and Samvardhana Motherson are expected to earn upgrades.
The encounter broke out after the terrorists opened fire at the search party personnel, who retaliated, the officials said.
'Disengagement is merely the first step in a lengthy process of arriving at a new normal along the LAC in Eastern Ladakh and the entire land boundary.' 'The Indian government should insist on the restoration of the status quo ante in Eastern Ladakh.'
The high court asked the defendants to file their reply within two weeks of service of notice and listed the matter for August 22 before the joint registrar.
The central government on Monday appointed Army Vice Chief Lieutenant General Manoj Pande as the next chief of Indian Army.
De-centralised execution should drive the operational concept and support military strategy, under a unified command architecture. Enablers and technology need to be positioned first for such an activity to be undertaken, recommends Lieutenant General Anil Chait (retd).
Whether it's Carrefour, Ford, or other foreign majors, they are ready to adjust their strategies and design their plans in a way that would address the Indian consumption story.
Despite enduring a weak first quarter of the 2023-24 financial year (Q1FY24), Power Grid Corporation (PGCIL) has laid out an ambitious capex plan going forward. It is looking to invest around Rs 1.8 trillion on an existing asset base of Rs 2.7 trillion to aim at keeping over 50 per cent market share in the transmission market. This includes opportunities from the Rs 2.4 trillion green energy corridor.
India's Navdeep Singh claimed gold medal in a dramatic men's javelin throw F41 final while Simran won the bronze medal in the women's 200m T12 final at the Paralympic Games in Paris on Saturday.
Indian companies also hold a considerable share of the car, bus, and three-wheeler markets in the country.
National Aeronautics and Space Administration (NASA) astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov will launch no earlier than September 24, on the agency's SpaceX Crew-9 mission to the International Space Station.
Corps Commander-level meeting between armies of India and China was held in Chushul on Tuesday, to resolve the ongoing dispute over Chinese aggression along the Line of Actual Control (LAC) in Eastern Ladakh area, said Indian Army Sources.
The search for survivors continues after several devastating landslides triggered by heavy rainfall hit the hills in Wayanad district.
'China will do everything to hamper our ability to be a competitor.' 'China wants every country in the region to be subservient and we are the biggest stumbling block.'
The Indian cement industry is hopeful of greener pastures after a long period of stress led by pricing pressures and other factors. The second half of FY25 is expected to bring respite due to price hikes, cost benefits and higher volumes, said analysts. The optimistic momentum also makes cement stocks attractive, analysts added, advising to buy dips following a period of bearish sentiment in these stocks.
'Till 10 pm last night, we rescued 70 people, after which we had to stop because of bad weather and rain.'
Gen Pande was to retire from service on May 31.
Bengaluru-headquartered electric two-wheeler manufacturer Ather Energy is all set to file its draft red herring prospectus within the second week of September to the Securities Exchange Board of India (Sebi) for its maiden initial public offering (IPO), in which it is expected to raise over $450 million. On Tuesday, the fourth-largest electric two-wheeler maker in the country by volume raised Rs 600 crore from its existing investor, the National Investment and Infrastructure Fund (NIIF), catapulting itself into a unicorn with a valuation of $1.3 billion.
Col Singh was a combat veteran and was awarded Sena Medal during his tenure as second-in-command of the 19 Rashtriya Rifles.
Lieutenant General P G K Menon on Tuesday took over command of Leh-based Fire and Fury Corps of the Indian Army, a Defence spokesperson said in Srinagar.
After an upgrade on Monday, the website said new accounts are required to pay a small annual fee before they are able to post, like, bookmark, and reply.
Only borrow an amount that can be repaid comfortably. The ratio of total EMI to take-home salary should not exceed 40 per cent.
Hours after an Iranian military commander claimed to have located the crash site of the helicopter carrying Iranian President Ebrahim Raisi, conflicting reports emerged as the head of Iran's Red Crescent Society, Pir Hossein Koulivand, said that rescue teams are still searching the area for the accident site.
In a surprise military shake-up, the Pakistan Army on Wednesday announced that the powerful spy agency ISI chief Lt Gen Faiz Hameed has been appointed as Peshawar Corps Commander -- a crucial position in view of the Taliban's takeover of neighbouring Afghanistan.
The Indian Embassy, while sharing details of their release, thanked the Iranian authorities for their close coordination with the Embassy and Indian Consulate in Bandar Abbas.
So far this year, bankers have earned Rs 1,226 crore for handling 45 IPOs, which together mobilised Rs 48,363 crore.
Automobile (auto) retail sales in India grew by an impressive 14 per cent in July compared to the same period last year, driven by a surge in the rural economy, good product availability, and product launches. While passenger vehicles (PVs) saw a 10 per cent increase during this period, inventory levels have surged to a historic high of 67-72 days in PVs, equating to Rs 73,000 crore worth of stock, according to the Federation of Automobile Dealers Associations (Fada). This poses a risk to dealer sustainability. Inventory levels in July 2023 were only 50-55 days, equating to a stock worth Rs 49,833 crore. In June 2024, inventory was between 62 and 67 days, with a stock value of Rs 60,000 crore.
The reporters wanted to know if President Joe Biden was seen by the Parkinson's specialist.
'General Paddy was amongst the last line of generals who stood by his convictions and brooked no interference in matters which were his domain.' Lieutenant General Zameer Uddin Shah (retd) salutes his former chief who passed away on August 19.
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