Asian stocks retreat on global recession angst; dollar firm
Investors will now be looking to Friday’s non-farm payrolls report for some clarity as to whether a steady diet of rate hikes has begun to take a bite out of hiring and wage inflation.
New CSR disclosure rules let companies omit key details
The details omitted include the name, the location and duration of the company’s CSR project, the amount allocated for the project, the amount spent in the current financial year on the project, mode of implementation, the name of the implementing agency along with their CSR registration number and amount transferred to the unspent CSR account.
Tube Investment, ABB, Varun Bev, IHCL likely to enter MSCI index
Tube Investments of India, which rallied 65% in the last six months, could see an inflow of $200 million, while Indian Hotels and Varun Beverages could see inflows of $190 million and $180 million, respectively.
Analysts bullish on ZEE after CCI’s conditional approval to SPN deal
Edelweiss said the stock has the potential to return 30-40% in the next 7 to 12 months after receiving the in-principle – albeit conditional – nod from India’s anti-trust regulator for the merger with Sony. The brokerage has raised its price target on the stock to ₹390 from ₹370.
US-based GIP in talks with Apollo Global to buy Adani bonds
Earlier this year, Mumbai International Airport (MIAL), run by Adani Airport Holdings (AAHL), raised about $750 million in debt from US-based Apollo Global Management. The money was raised via bonds privately placed in the US, known as USPP Debt. The debt papers, of seven-plus-year maturities, carry a coupon of about 6.5%, said a market source.
RBI launches DAKSH application to advance supervisory process
“DAKSH is a web-based end-to-end workflow application through which RBI shall monitor compliance requirements in a more focused manner with the objective of further improving the compliance culture in Supervised Entities (SEs) like Banks, NBFCs, etc,” PTI quoted it as saying.
Q2 may see Nifty revenue growth by Nifty 50 companies
Second-quarter earnings will be led by the banking and finance, consumer, and automobile sectors and dragged down by commodity sectors such as metals and oil and gas, said Gautam Duggad, institutional research head, Motilal Oswal Financial Services. “We expect companies in our coverage universe and Nifty earnings excluding metals and oil and gas to post […]
HUL market cap at 67% of parent Unilever’s
In the past five years, the valuation of the Indian FMCG major has more than doubled while parent Unilever’s market capitalisation has declined consistently since reaching a peak of $180 billion in October 2017. Unilever holds 62% in HUL.