Global fund managers super bearish; cash balance at 20-year high
Cash Levels: Fund managers’ average cash balance has risen to 6.1% in September – the highest since October 2001 after the 9/11 shock, and well above the long-term average of 4.8% as recession concerns rise, the survey said.
Tata Sons set to raise $500 million offshore loan
The tenor of the loan is likely to be five years. It may be priced 110-120 basis points above the Secured Overnight Financing Rate (SOFR), the benchmark that replaced Libor. The deal is expected to be sealed in the next few weeks.
SBI moves NCLT for insolvency proceedings against Bajaj Hind
According to submissions made by SBI’s lawyer Sandeep Arora in court, the sugar manufacturer defaulted on ₹1,052 crore portion of its debt on March 3, 2022. The default amount, ₹140 crore, includes coupon payments on optionally convertible debentures that had been subscribed to by banks.
India shines brightest among top global markets amid recessionary gloom
The fastest growing economy, stable political scenario at the centre, a push for long-term infrastructure growth, and a rising clout of the domestic and retail investors are some of major drivers for the stellar performance of Indian equities.
Fin Min asks banks to sell at least 3 accounts to NARCL by Oct-end
Further, lead banks will seek consent from member banks to sell another 15 shortlisted accounts, including Jaypee Infratech, Srei Infrastructure Finance, Srei Equipment and a few Future Group companies, to the bad bank, the people said.
Indices snap 4-day rally; big US rate hikes a worry
Similar trends were witnessed in Nifty, which declined 66.30 points or 0.37 per cent and managed to end the day at 18,003.75 points. With the higher than expected inflation reported in the US in August, there are now concerns that the US Federal Reserve is likely to go for aggressive rate hikes, pushing global markets […]