Vedanta parent raises $450 million from two rivals
The money from Trafigura will be used to make debt repayments of $150 million to Oaktree, a research report issued by Nomura stated. The loan from Glencore, reported in stock exchange disclosures, was raised by pledging 4.4% of listed Vedanta Ltd.
Balkrishna treads on weaker ground in main markets
The volume deceleration in FY23 was due to a contraction of 5-6% in the second half of the fiscal year due to weakness in Europe and the US. The European operations reported volume drop in each of the three quarters to March 2023.
Street buoyant with strong inflows, good opportunities to spur deals
Domestic investors are now showing more interest while the market is also showing some promising opportunities. Over the past two weeks, three deals in the finance sector got concluded, including Abrdn (Mauritius Holdings) 2006 selling stake in HDFC Life Insurance and Tencent Cloud Europe BV selling stake in PB Fintech.
RBI resumes variable rate reverse repo operations
The RBI said it will conduct a 14-day VRRR auction worth ₹2 lakh crore on June 2 from 10:30-11:00 am IST. The date of reversal of the VRRR is June 16.
Rupee logs best one-day gain in 2 months
“The Indian rupee strengthened amid stellar economic data and foreign fund inflows,” HDFC Securities research analyst Dilip Parmar said. “It has clocked the best single-day gain in almost two months following dollar inflows and lower commodity prices,” he said.