US stock market: S&P 500, Dow dip to lower close as rate hike bets firm, banks jump
Citigroup Inc, JPMorgan Chase & Co and Wells Fargo & Co beat earnings expectations, benefiting from rising interest rates and easing fears of stress in the banking system.
India’s forex reserves up $6.31 billion to $584.76 billion, at 9-month high
Foreign Currency Assets increased by USD 4.740 billion to USD 514.431 billion. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Vedanta in talks with Barclays to raise Rs 1,500 cr loan
The loan will have a first exclusive charge over the fixed assets of the Thoothukudi (Tuticorin) copper smelter in Tamil Nadu and an exclusive pledge over Hindustan Zinc shares, providing a 2.2x cover. The Supreme Court of India has recently allowed Vedanta to start maintenance work at Sterlite Copper facility in Thoothukudi, which is shut […]
IDBI Bank, PNB Housing , Sicom in push to offload bad loans
IDBI Bank, PNB Housing Finance and Sicom plan to sell their distressed loan books, following the example of Yes Bank and Bandhan Bank. Special situation funds have initiated talks with IDBI Bank to acquire its non-performing loan book, with the bank demanding an all-cash deal. Meanwhile, PNB Housing Finance has invited offers to sell its […]
ReNew Energy arm to raise $400 million via green dollar bonds
Road shows for the bond issuances in favour of Diamond II Ltd are scheduled to commence early next week, with Barclays, HSBC, Deutsche Bank, JP Morgan, BNP Paribas, and Standard Chartered Bank serving as joint global coordinators. DBS, Mizuho, MUFG, SMBC Nikko Securities, and Societe Generale are joint book runners, the sources said.
No longer shaken, bond market gets licence to chill
Increasing conviction that the Reserve Bank of India (RBI) is unlikely to raise interest rates further has provided the bond market with visibility on future declines in bond yields, thereby prompting greater trading interest this month, treasury executives said.
Merged HDFC entity likely to get fresh $3-billion inflow from overseas passive funds
These passive funds mirror MSCI indices for their investment. For a stock to remain on an MSCI index, international investors must have a minimum headroom of 15%, with an adjustment factor of 1, to purchase the shares on the public market.