HDB Financial awaits parent’s approval to begin IPO journey
HDB Financial Services, the non-banking financing arm of HDFC Bank, is preparing for an IPO to list by September 2025 with a valuation range of $9 billion to $12 billion. The lender plans to open 200 branches this fiscal year to expand its loan book.
10-year bond yield slips below 7% on lower inflation prints
The fall in government bond yields to 6.98% reduces borrowing costs across the economy, influencing corporate borrowing prices. Sovereign debt yields serve as benchmarks for determining corporate borrowing costs.
What clearing vendor dues via equity means for firms
Vodafone Idea’s board approved preferential allotment of equity shares to Nokia and Ericsson to clear dues. Vi’s vendor ATC Telecom also benefitted from stock market gains. Vi’s move to dilute equity for debt repayment is uncommon in listed companies.
Flipkart’s path to profitability will decide IPO timing, says Walmart CFO
Walmart sees financial services as a growth opportunity, with PhonePe and Flipkart driving monetisation prospects. A report by Bernstein Research suggests India’s ecommerce market could double by 2025.
Chinese, Indian stocks favored by abrdn on policy boost hopes
Abrdn Plc prefers Chinese and Indian stocks over Japanese peers in the next 3-6 months, anticipating policy moves to attract fund inflows.
Stocks in news: L&T Finance, Ambuja Cement, Vodafone Idea, Puravankara, Wipro
Equity indices hit record levels on Thursday after lower-than-expected inflation hints at RBI interest rate cut. L&T Finance, Ambuja Cement, Vodafone Idea, Puravankara, NITCO, Wipro, Nalco, Suven Pharma, and MosChip Technology make significant moves. Adani Group-owned Ambuja Cement acquires Penna Cement at Rs 10,422 crore. Morgan Stanley buys 3.13 crore equity shares in L&T Finance.