BlackRock to re-enter India through JV with Ambani’s new financial arm Jio Financial Services
This will mark an India comeback for Wall Street’s green crusader Larry Fink, chairman of Blackrock, after parting ways with long-time partner Hemendra Kothari of DSP. The joint venture will be called Jio Blackrock and will launch operations after regulatory and statutory approvals. The company will have its own management team.
Analysts raise L&T targets on stellar Q1, share buyback
Shares of the engineering and construction conglomerate touched a record high of ₹2,673.85 before closing at ₹2,652 on the NSE, up 3.56% from the previous close.
Strong order pipeline expected to support L&T’s growth prospects
Larsen & Toubro (L&T) is expected to continue its momentum in the medium term due to a fast-expanding order pipeline, particularly in infrastructure and energy sectors. The company’s Q1 core order inflow rose by 79% YoY to INR50,300 crore, and the total order inflow rose by 57% to INR65,520 crore.
Fed raises rates by 25 bps, keeps door open to more hikes as inflation remains elevated
The rate hike, the Fed’s 11th in its last 12 meetings, set the benchmark overnight interest rate in the 5.25%-5.50% range, and the accompanying policy statement left the door open to another increase.
India swap rates hint Street does not expect rate cuts till Aug 2024
Overnight indexed swap (OIS) rates, the principal tool for hedging interest rate risk in India, have climbed sharply since the RBI’s last policy in June and now suggest that the central bank would only lower the repo rate in August of next year as against the earlier pricing that pointed towards policy easing at the […]
US yields fall as markets not convinced of another rate-hike move
“It is certainly possible we would raise the funds rate at the September meeting if the data warranted, and I would also says it’s possible that we would choose to hold steady at that meeting” if that’s what the data called for, Powell said.