Dollar shines as US economy outperforms, yen plumbs 10-month low
Against a basket of currencies, the dollar was last 0.05% higher at 104.91, holding on to some of its gains from the previous session after scaling a six-month peak on news that the U.S. services sector unexpectedly gained steam in August.
RBI seeks feedback on settling Indian bonds via Euroclear
“They (the RBI) are not averse to the process of settlement of Indian bonds on the Euroclear platform and have been taking feedback from the market,” a source aware of the development said. “Such discussions happened earlier too – there were some concerns over a parallel yield curve developing, although the market has developed more […]
Sugar stocks surge up to 10% on firm price forecasts
Avadh Sugar & Energy surged 10%. Uttam Sugar Mills, Dalmia Bharat, Shree Renuka Sugar, and Dhampur Sugar Mills rose between 5% and 6%. Balrampur Chini and Bajaj Hindusthan moved up by 1-2%.
Sebi ticks off bookrunners of EbixCash over disclosure rules
The regulator, in an ‘administrative warning’ to the five book-running lead managers Motilal Oswal Investment Advisors, Equirus Capital, ICICI Securities, SBI Capital Markets, and Yes Securities, accused them of neglecting proper disclosures in the draft red herring prospectus (DRHP) of EbixCash, said people aware of the development.
IRDAI chief stresses on need for more insurers, enhanced products and services
Also, most hospitals don’t allow cashless admissions even though the insurance product offers such a facility, citing one or other excuses.
FPIs invest big in power, capital goods stocks in August
According to National Securities Depository Limited (NSDL) data, FPIs allocated a dominant ₹11,563 crore to power sector stocks. FPIs’ investment in power stocks includes a $1.1 billion investment by US-based GQG in Adani Power. They pumped ₹11,343 crore into Indian equities in August as against ₹26,442 crore in July.