Gold bound for best week in six, spotlight on Powell’s speech
European Central Bank President Christine Lagarde and U.S. Federal Reserve’s Powell are expected to speak later in the day at the annual economic symposium in Jackson Hole, Wyoming.
Baring PE sells its entire stake in Coforge
According to BSE bulk deals data, Baring PE sold 16.3 million shares at ₹4,722 apiece. Some of the buyers include Aditya Birla Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, SBI Mutual Fund, Morgan Stanley Asia and Societe Generale.
Sebi to distribute Rs 15 crore to investors in third tranche
In the current exercise, the regulator said it is distributing amounts to those investors to whom partial amounts were paid earlier and are entitled to receive additional amounts.
Mistry family in talks to refinance Rs 18,000 cr of debt
The debt is held by the Mistry family under Sterling Investment Corp. Pvt Ltd (SICPL), which owns a 9.182% stake in Tata Sons. These bonds were issued in 2021 and had a tenor of three and a half years. The group has sounded out a few large funds and global banks, two sources said.
IRDAI okays amendments to reinsurance norms
IRDAI has simplified the format of the reinsurance program and brought in tandem the regulations for Indian insurers, Indian reinsurers, Foreign Reinsurance Branches (FRBs), and International Financial Services Centre Insurance Offices (IIOs) to position India as a global reinsurance hub.
Dalal Street indices snap 3-day winning run
Sensex fell 180.9 points, or 0.28%, to close at 65,252. Nifty declined 57.3 points, or 0.29%, to end at 19,386. Both indices had risen as much as 0.7% earlier in the day before the late sell-off with the Nifty hitting the session’s high of 19,584.
Reliance Retail, BC Jindal group seek more time to conduct due diligence on Future Enterprises
Future Enterprises’ creditors were informed at a meeting on Thursday that an extension had been sought by both prospective bidders who were due to submit formal offers on 24th August. The bid deadline has now been extended to 25th September, according to the sources.
Vedanta Resources appoints advisor to identify bondholders
A tranche of $1 billion, with a coupon of 13.875%, is due January next year and the remaining thereafter, which could put pressure on the group that recently sold a part of its stake in the local listed entity to meet repayments.