Airtel promoter group entity sells 0.56% stake for Rs. 7,200 crore to institutional investors
ICIL offloaded 34.3 million Airtel shares worth Rs 7,200 crore to long-term institutional investors, cutting its stake below 1%. The sale saw strong global interest and came at a slight discount to market price.
Asian stocks rise, Bitcoin trades above $90,000
Asian markets are rising with Wall Street. Investors anticipate interest rate cuts from the US Federal Reserve. This optimism is boosting global stocks. Money markets now expect multiple rate reductions. Recent US economic data shows mixed signals but supports the Fed’s potential easing. Bitcoin also saw a significant jump.
ICICI, Canara likely to raise Rs 7,500 crore
As the financial landscape evolves, Indian banks are on a robust quest for capital through bond markets. This week, Canara and ICICI banks are poised to unveil bond offerings amounting to an impressive ₹7,500 crore. In a recent maneuver, Axis Bank successfully raised ₹5,000 crore through a strategic private placement of non-convertible debentures.
Long-term outcomes of popular IPO themes could disappoint: Prashant Jain
Prashant Jain, co-founder of 3P Investment Managers, anticipates Indian large-caps to compound at 11-12% over the next three to five years. He expresses caution on popular themes like consumption and manufacturing, citing expensive valuations, and believes small- and mid-caps have overshot fair valuations due to a surge in new investors.
Indian equities surge near record highs on Fed rate cut hopes
Indian equity indices surged over 1% on Wednesday, mirroring global gains as softer US retail sales data fueled expectations of a December Federal Reserve rate cut. The Sensex and Nifty neared record closing levels, driven by strong investor sentiment and foreign inflows. All sectoral indices ended higher, with metals leading the advance.
RBI takes practical stance on family trusts and investment cos
In a forward-thinking initiative, the Reserve Bank of India is simplifying wealth management for business families. By allowing the transfer of ownership of investment companies to private family trusts, they’re paving the way for smoother succession planning and minimizing potential disputes. The focus remains on designating family members as trustees, which strengthens familial control over […]
Volatile nature of food prices pose challenges to inflation forecasting, says RBI’s Poonam Gupta
Reserve Bank of India deputy governor Poonam Gupta stated that food’s significant weight and price swings in India’s Consumer Price Index complicate inflation forecasting. This is crucial for monetary policy decisions. The RBI uses various models and indicators to predict inflation and growth. Forecasts for 2025-26 show inflation at 2.6%. Data updates are vital for […]
Irdai steps in to ease friction between insurers & hospitals: Payments, package rates & cashless processes
Irdai, India’s insurance authority, is stepping up to harmonize relations between health insurers and hospitals through active discussions with industry representatives. Their talks revolve around crucial elements such as claim settlements, rate structures for medical packages, and the facilitation of cashless insurance services.