Sumeet Industries’ lenders ask initial bidder to raise offer
Sumeet has been classified as a non-performing account (NPA) with banks for more than three years. It owes lenders led by the Bank of Baroda (BoB) more than ₹900 crore including about ₹530 crore in principal. Lenders expect to recover at least 47% of their principal dues by asking Gajera to better its offer.
Indian equities stay a bright spot for FPIs among EM peers
The six-month rolling cumulative investment of foreign investors rose to $20.6 billion (₹1.69 lakh crore) – the highest in 28 months, data from NSDL showed. There are only nine instances in the last 15 years when the six-month rolling monthly investment rose more than $20.5 billion.
Bond investors bet Federal Reserve hiking is over
A spate of slowing employment metrics this week, crowned by Friday’s August payrolls report, has shifted market sentiment in favor of owning policy-sensitive two-year Treasuries, which BlackRock Inc.’s Jeff Rosenberg called a “screaming buy.”