Nifty could rebound in March, three black crows point to that
A study by Mumbai-based broking firm Tradonomy shows Nifty’s fall for three consecutive months in the past decade was followed by a rally in the subsequent month. Out of the nine times when the Nifty has fallen for three straight months since 2011, the index has bounced back in the fourth month on each occasion, […]
Tata Power, 3 others in fray for PTC India stake
The Adani Group, which was also widely expected to participate in the bidding process, has not submitted an EoI, the people said. Five public sector undertakings, including four promoter firms of PTC India, are planning to sell their stake in the power trading company that is hit by a controversy over alleged governance issues at […]
HDFC hikes lending rates by 25 bps; your home loan EMIs to increase
With effect from March 1, 2023, HDFC raises its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are based, by 25 basis points.
Sebi bars 21 entities in Axis mutual fund front-running case
Sebi said Joshi, who was privy to the trade information of the fund house including size and timing of orders that were not in public domain would pass on the confidential information regarding the impending trade order to his connected individuals.
Vedanta Resources prepays loans, plans to raise up to $1 billion
Vedanta Resources has been exploring ways to raise funds to meet upcoming debt maturities, after Indian government’s nominees on group company Hindustan Zinc’s board objected to a $2.98 billion cash deal to purchase Vedanta’s zinc assets. Vedanta Resources has mandated Cantor Fitzgerald to syndicate a $2 billion loan to service short-term maturities, ET reported on […]
RBI showcauses ARCs after audit following Income Tax raids
In December 2021, the I-T department carried out a search and seizure of 60 premises of four ARCs – Omkara ARC, Rare ARC, CFM ARC, and Invent ARC. The searches, according to the department, revealed that some ARCs adopted various unfair and fraudulent trade practices in acquiring non-performing assets (NPAs) from lender banks.
Adani Group stocks rally, add Rs 30,000 crore m-cap
The group’s flagship company, Adani Enterprises, jumped 24.5% from the day’s low to close 14.3% higher at ₹1,363.85. Adani Ports, Adani Green Energy, Adani Wilmar, Adani Power, and NDTV gained 5% each. Ambuja Cements and ACC rose 4% and 2%, respectively. Adani Transmission and Total Gas dropped 5% – the lowest tradeable limit of the […]
Adani gets commitment for $800 million debt facility
This week Adani Group’s chief financial officer Jugeshinder Singh and head of group corporate finance Anupam Misra are meeting fixed income investors in Singapore and Hong Kong to update them about fundraise plans across businesses.