Stocks in the news: Here Moto, Indian Oil, Lupin, PNB and Adani Group stocks
Hero MotoCorp, the two-wheeler manufacturer, said it will invest $60 million in US-based Zero motorcycles to jointly develop electric motorcycles. It said it is finalizing a collaboration agreement with the California (US)-based manufacturer.
Bearish equity derivative bets get rolled over into October
While analysts are not ruling out a brief rebound as stocks may be oversold after the seven-day losing run – the longest selling spree since mid-June, sentiment remains negative with the Nifty closing below key long-term trend indicators.
Bear swipe on Street brings out the bulls among promoters
The Nifty has declined nearly 3% in the past month – and 4.6% in the past week. The Nifty Midcap 100 and Nifty Smallcap 100 indices have plunged more than 5% in a week after foreign portfolio investors sold shares worth ₹16,000 crore since the latest increase in interest rates by the US Federal Reserve.
India’s external debt up 7.3 per cent in June
Fresh short term debt or in terms of original maturity at $129.8 billion which accounts for 21 percent of the outstanding debt as of June 30 rose 26.6 percent over the June end levels and 6.6 percent sequentially according to a central bank release.
Sebi frames rules for FPIs to trade in commodity derivatives
FPIs belonging to categories such as individuals, family offices and corporates will be allowed a position limit of 20% of the client level position limit in a particular commodity derivative contract, Sebi said.
Government cuts market borrowing target for FY23 by ₹10kcr
The Centre will borrow ₹5.92 lakh crore in the second half of FY23, which is ₹10,000 crore lower than intended, according to an official statement. The second-half borrowing will include the first-ever green bonds, worth ₹16,000 crore.
Current account deficit at decade high of 2.8% of GDP
“Underlying the current account deficit was the widening of the merchandise trade deficit to $ 68.6 billion and an increase in net outgo of investment income payments”, said a release by the Reserve Bank of India.