Barring legal issues, TMB IPO looks reasonably priced
The demanded valuation also looks reasonable. However, the bank is involved in several legal proceedings including those filed by some of the existing investors regarding the offer for sale. The verdict is pending. This may be a major deterrent for risk-averse investors. Given these factors, the issue looks more suitable for investors with a higher […]
Dollar at two-decade high as payrolls loom
The dollar index made a two-decade top at 109.99 in New York trade and was last at 109.56. It is up more than 1% in the week since Federal Reserve Chair Jerome Powell said at Jackson Hole, Wyoming that rates would need to be high “for some time” to control inflation, somewhat surprising markets.
Loans to industry hit new high in July
Bank loans registered 15.1% growth in July compared with 5.1% a year earlier as large corporates came back to banks. Credit to large industry grew by 5.2% in July against a contraction of 3.8% a year earlier, as per RBI data. Medium industries recorded credit growth of 36.8%, down from 59% in July 2021, while […]
Dollar’s surge hits Dalal Street, again
BSE’s Sensex fell 770.4 points or 1.29% to close at 58,766.5. NSE’s Nifty dropped 216.5 points or 1.22% to end at 17,542.8. Mid- and small-cap shares ended higher, bucking the weakness in blue chips. The Mid-cap 150 and Small-cap 250 indices advanced almost 0.3% each.
7 Adani companies contributed 79% of India’s m-cap gain in 2022
The value of Gautam Adani’s holdings in Adani Group companies soared $112 billion in the past two years, the highest among all billionaires in the world. His wealth has jumped 365% in the previous two years from $30.7 billion to $142.7 billion, pushing up his rank in the global billionaires’ list from 40th to the […]