Mahindra & Mahindra (M&M) on Thursday said it has sold 3.53 per cent stake in RBL Bank for Rs 678 crore, representing a 62.5 per cent gain on the investment. On July 26, 2023, the Mumbai-based diversified firm had announced the acquisition of a 3.53 per cent stake in RBL Bank as a treasury investment at a cost of Rs 417 crore.
Expecting the Indian economy to sustain 7 to 9 per cent growth, leading French bank Societe Generale on Wednesday launched a private banking facility to tap $560 billion assets of the growing upper class Indians.
The Securities and Exchange Board of India (Sebi) on Monday issued a show cause notice and prohibited foreign institutional investor (FII) Societe Generale from issuing, subscribing or transacting in off-shore derivative instruments (ODIs), which are also known as participatory notes, or PNs.
Indian equities are in a multi-year bull story with capex cycle recovery as the main driver.
The job cuts comes in the wake of the banking sector, especially investment banking activities, facing difficult times amid the persisting European debt turmoil.
Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani's conglomerate, plans to raise $409 million through US dollar-denominated bonds to repay a debt obligation falling this year. In a regulatory filing, the company said the bond will have a door-to-door tenor of 18 years. The proceeds will be used to redeem the $500 million 6.25 per cent senior secured notes due 2024, it said adding these notes were issued on June 10, 2019.
Adani Green Energy (AGEL) on Tuesday announced it has secured a funding of $1.36 billion from a consortium of international banks as part of its construction financing framework. The $1.36-billion senior debt facility will enhance the company's funding pool to $3 billion since initial project financing in March 2021, AGEL said in a statement. According to the statement, AGEL, India's largest and world's leading renewable energy player, announced a follow-on funding of $1.36 billion to further boost its construction financing framework to $3 billion backed by a consortium of renowned international banks.
Japanese conglomerate Softbank's arm SVF Doorbell (Cayman) on Wednesday divested 3.8 per cent of its stake in supply chain company Delhivery for Rs 954 crore through open market transactions. Saudi Arabian Monetary Authority, City of New York Group Trust, Societe Generale, BNP Paribas Arbitrage, Morgan Stanley Mauritius, Baillie Gifford Emerging Markets Equities Fund were among the buyers of shares.
Against an offer of 4.55 crore shares of Adani Enterprises Ltd, only 4.7 lakh were subscribed, according to information available from the BSE. Adani Enterprises fell almost 20 per cent to below the offer price of its secondary sale as all the seven listed companies of the conglomerate took a beating in the aftermath of Hindenberg Reserach alleged that the group was "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
Despite markets turning volatile, share sale activity at India Inc has surged to its highest level in five months. So far in March, promoters, strategic investors and other large shareholders have been able to offload shares worth more than Rs 33,000 crore-the most since November-defying uncertain market conditions. Both the Sensex and the Nifty are on course to post their fourth straight monthly loss amid headwinds, such as interest rate tightening by the US Federal Reserve and the global banking crisis.
'In end-December 2015, Nifty would end at 8,600 and Sensex at 28,000.'
The People's Bank of China has picked up a 0.006 per cent stake in ICICI Bank by investing Rs 15 crore in the private sector lender's Rs 15,000 crore qualified institutional placement (QIP) exercise which concluded last week.
Any market correction, analysts say, would be an attractive entry point for risky assets, which should do well over the medium-to-long term.
This year's share of dream and super-dream job offers has spiked. As a result, the overall annual average salary packages have nearly doubled at some of these college campuses.
A stronger dollar makes oil more expensive because it raises the cost for imports for most of the world's countries
India's monetary policy continues to remain hawkish as RBI Governor Raghuram Rajan fights a lone battle to get the economy back on track while the government 'fails to walk the talk.
Let's take a look at the arguments that will decide the price of gold this year.
There is much more that the government can do to track money hidden abroad.
Oil edged up on Tuesday, steadying after a 5 per cent plunge in the previous session that saw prices touch fresh 5-1/2-year lows in an oversupplied market.
The Reserve Bank will have to continue to tighten its monetary policy stance to arrest the runaway inflation numbers, which is expected to harden further in the medium-term on account of the rising commodity prices in international markets, a senior economist said on Friday.
Indian IT company joins Enron, WorldCom and Societe Generale on list of notorious corporate frauds.
Media reports said on Monday that the regulators have rejected the JV proposal citing the violation of trading norms and security scams by SG in overseas markets. SBI had entered into an agreement with Societe Generale Securities Services, a division of Societe Generale Group, in June this year to provide a range of security services like reporting, corporate actions, dividends collection and distribution, tax reclaim services among others.
Indian Minister of State for Industry Ashwani Kumar speaks on 'The India factor and a comparative analysis of the opportunities and risks in China and India' at Waldorf Astoria in New York on June 4.
Finance Minister P Chidambaram has invited French companies to expand their activities in India, particularly in the infrastructure sector. \n
"The NBFC gives us greater flexibility in functioning. Retail and broking businesses can be affected by the ups and downs in the market, but private banking does not get affected as high networth individuals continue to get high salaries and earn profits. However, on the individual risk profile, the asset class keeps changing," said Nipun Mehta, head and executive director, SG Private Banking India.
Glenn Maguire, chief economist (Asia Pacific) at Societe Generale, says that the Fed may raise rates once more, before pausing.\n\n
He adds that it is unlikely to see the Fed rate move above 5.5%.\n\n
IIT Kharagpur gets more than 1,000 job offers in a record five days, with 144 companies visiting the campus till Dec 5
State Bank of India has sold 37 per cent stake in its mutual fund arm -- SBI Fund Management Pvt Ltd -- to France-based Societe Generale Asset Management, for an undisclosed sum.
The State Bank of India has transferred 37 per cent of its stake in SBI Mutual Fund to French financial major Societe Generale Asset Management.
October infrastructure output, which contributes nearly 38 per cent to the industrial output index, was up 3.2 per cent annually.
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
The domestic currency has already dropped 44 paise, or 0.67 per cent, in the previous two sessions.
Plenty of other factors are likely to keep a lid on prices.
IIM-Trichy has seen a dip in the number of offers per recruiter. IIM-Udaipur is yet to place 20 of its 144 students.
Loading an app required the watch to pull tremendous amounts of data from iPhones.
Nestle, for the record, does not give a break-up of its exports.
Telecom operator Reliance Jio Infocomm has arranged credit facilities worth $1.5 billion with lenders, including Bank of America and Barclays, to refinance existing loans.
A total of 11 international banks have publicly distanced themselves from the project.
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