Asia stocks edge up as investors eye Fed rate decision
The two-year yield, which rises with traders’ expectations of higher Fed fund rates, touched 4.4803% compared with a U.S. close of 4.501% on Monday. The yield on benchmark 10-year Treasury notes stood at 4.0478% compared with its U.S. close of 4.077% .
Tata Steel’s net profit plunges 90% to Rs 1,297 cr
The legacy steelmaker, which also has operations in western Europe, reported a consolidated bottom line of ₹1,297 crore, compared with ₹12,548 crore in the year-ago period. The extent of decline in Tata Steel’s net profit was in line with that of other steelmakers facing similar headwinds.
IPOs in 2022 of ‘better quality’, earn better money for investors
Adani Wilmar, which raised ₹3,600 crore through an IPO in February at an issue price of ₹230 per share, is currently trading at ₹672, 192% above the issue price. IPOs of Veranda Learning Solutions and Venus Pipes & Tubes have given a return of more than 130% since listing. Similarly, companies such as Aether Industries, […]
Leading NBFCs offer up to 8.84% to attract retail savings
Banks are relative stragglers in the race for deposits. Average rates being offered in specific segments by some lenders are sometimes less than sovereign bond yields.
Non-food bank credit grows 17% in September
In September last year, such advances had contracted 2.9%, central bank data on sectoral deployment of bank credit showed. On a year-on-year (y-o-y) basis, non-food bank credit increased 17% in September 2022, compared with 6.8% a year ago.
Bain Capital to sell a 1.24% stake in Axis Bank on Tuesday
Bain Capital held a 4.24% stake in Axis Bank through its three funds – BC Asia Investments VII, BC Asia Investments III, and Integral Investments South Asia IV – as on September 30