RBI doubles bond purchases to Rs 40,000 crore
Market participants are expecting additional liquidity support via variable rate repo (VRR) auctions and open market operations (OMO) purchases, both planned and unplanned, along with foreign exchange swaps, as the RBI’s forward book is heavy with large near-term maturity, economists said.
Torrent pads up for Gujarat Titans deal with CVC
Torrent Group is in the final stages of acquiring around 66% of the IPL team Gujarat Titans, valuing the franchise at about Rs 7,500 crore. The deal requires BCCI approval and would be the first majority stake sale since IPL’s inception in 2008.
Trump pumps up tariff talk, dents Indian metal stocks
NSE’s Metal index fell 2.64% on Monday, while the Nifty declined 0.8% – extending losses to the fourth straight trading session. National Aluminium was the top loser on the index, down 4.9%, whereas Steel Authority of India (SAIL), Vedanta, and NMDC declined over 4% each.
Rupee slips to yet another low of 87.95 a dollar
The rupee weakened to an all-time low of 87.95 a dollar in the early hours on Monday, but managed to pare most of its losses due to strong intervention by the Reserve Bank of India (RBI).
Insurers seek clarity on 10% hike cap for senior health premiums
Health insurers are seeking clarity from IRDAI on how the 10% annual premium hike cap for senior citizens affects long-term policies. The cap aims to protect financially vulnerable older adults from steep premium increases. Insurers must also standardize pricing and obtain regulatory approval before discontinuing or modifying products.
Vedanta demerger gets vote of proxy advisory companies
As per Vedanta’s revised December 2024 composite scheme of the arrangement, the demerger will result in the creation of five sector-focused entities – Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power and Vedanta Iron & Steel, while Vedanta Limited will hold both upcoming and some existing businesses not covered by the above four verticalised revenue […]