Earnings will continue to grow at 15%-16% in next two years: Pankaj Pandey
So obviously, inflation outlook could get revised and it is possible that the RBI might maintain some bit of a hawkish stance. But I think nothing major changes we would expect overall.
Bond yields in narrow range to limit banks’ treasury gains
For the first quarter, the State Bank of India reported a treasury income of ₹3,850 crore, the highest in the past 12 quarters. Likewise for Axis Bank, the whole business income was soft, but a treasury gain of ₹519 crore aided the return on assets (ROA) ratio.
Brookfield’s OFS in telecom tower InvIT undersubscribed
Against the 182.2 million units on offer, representing a 7% stake, the OFS received bids for 150.2 million units. At the floor price of ₹155 per unit, Brookfield sold units worth ₹2,331 crore, roughly a 6% stake.
Auto companies flag local value addition math under PLI
A minimum 50% domestic value addition (DVA) is a key condition for companies to qualify for subsidies under the scheme. The intention is to promote local manufacture of new technology products such as electric vehicles (EV) rather than subsidising imports.
New law on digital competition likely to regulate Big Tech
An official committee under corporate affairs secretary Manoj Govil – set up to examine the need for any ex-ante regulatory mechanism for digital markets through a separate law and to study international best practices, among others – is set to complete the initial drafting of its report this month.
Surplus liquidity in banking system surges to 14-months high
Surplus liquidity, as measured by the quantum of extra funds that banks park at the Reserve Bank of India’s (RBI) absorption window, averaged `2.48 lakh crore a day in August, the highest since June 2022.
Reliance ARC files plea against Vidarbha Industries’ debt sale
In its petition, Reliance ARC has raised concerns over the Swiss Challenge Auction process, according to a lawyer source. The concern is that when an ARC makes a bid to buy a troubled asset or a nonperforming asset (NPA), it automatically becomes an initial bidder and this gives the ARC the exclusive right to match […]
Sebi halves listing timeline to 3 days post IPO closure
This will be an option for IPOs opening after September 1, 2023, and will be mandatory for public issues opening after December 1, 2023.
Suzlon Energy launches QIP to raise up to Rs 2,000 crore
The company says it has fixed a floor price of Rs18.44 per share for the QIP, which is a 5.7% discount from the stock’s closing price of Rs19.56 per share on Wednesday on the BSE
Vivriti to raise up to Rs 500 crore via NCD issue
The NCDs will be sold in five series. The tenor of series I and II is 18 months while that of series III, IV and V is 24 months, the firm said in a press briefing on Wednesday. JM Financial is the lead manager of the issue.