ETMarkets Smart Talk: Where is India’s super rich investing? Anirudha Taparia gives a sneak peek
Digitization and hyper-personalization were other important changes fostered by the pandemic, and many investors are now keen on customised digital wealth management services, necessitating a shift in how the sector approaches and maintains its customer relationships.
Crypto week at glance: Markets turn volatile amid ongoing debt ceiling discussions and rising inflation
Bitcoin has seen a decline of 9% in its month-to-date performance. Currently, BTC faces a resistance level at US$26,471. If the price manages to close near this level, it could potentially pave the way for further upward movement towards the US$26,600 and US$27,000 levels.
FMCG index tops 50,000 for the first time
The FMCG index has rallied 11% in the last three months against a 6% gain in the Nifty. ITC contributed to 57% of the rally in the FMCG index in the past three months, while HUL, Varun Beverages, and Nestle contributed a little over 27%.
Goldman sells Rs 1,100-cr loans to Edelweiss Alternate Fund
Edelweiss Alternative Fund acquired the loans for ₹650 crore, one of the people said.Edelweiss Alternative Fund and Goldman Sachs did not respond till press time Friday to ET’s request for comment.
Shareholders seek action on Meta’s ‘political entanglement’ in India
The shareholders’ resolution will come up for voting at Meta’s annual shareholder and board meeting scheduled for Tuesday, May 31.
Markets rally for 2nd day on US debt deal hopes
The Sensex surpassed the 62,000-mark with a breakout rally underpinned by the optimistic mood in global markets. The index closed at 62,501.69, up 629.07 points or up 1.02%, from the previous close. The Nifty briefly surpassed 18,500 before closing the day at 18,499.35, up 178.20 points or 0.97%.
Higher costs for new deposits may hit bank margins
Term deposit rates have gone up by about 200 basis points in the last few months as banks have had to catch up with the stronger credit growth. One basis point is 0.01 percentage point.
Deutsche Bank, Cerberus to lead $1.7 billion credit raise by Shapoorji Pallonji promoters
US hedge fund Davidson Kempner (DK), Canyon Capital Partners and Varde Partners have also agreed to a three-year private credit line, with each contributing $200 million. Canadian pension fund Omers is also expected to join with $100 million while the rest will be distributed among smaller funds.
Tata Motors and Mahindra & Mahindra apply brakes on EV fundraise plans
Tata Motors and M&M had carved out their EV arms into separate subsidiaries and raised significant funds through stake sales in 2021 and 2022, respectively, at handsome valuations.
HDFC, Nabard and PFC line up bond sales
HDFC’s bond issue, which may have an additional subscription option of up to ₹5,000 crore, may see the rate of interest being set around 7.80%, market sources said.