Nifty IT index plunges 3.2%, posts biggest single-day fall in 3 months
The Nifty IT index experienced its largest single-day drop in three months on Wednesday. Several IT stocks saw significant declines, reversing recent gains in the market. Renewed risk-off sentiment and US interest rate hike worries triggered the broad sell-off. Geopolitical tensions and rising oil prices also contributed to the pressure on IT firms. Concerns over […]
BSE chief says most players still avoid new closing auction
BSE CEO Sundararaman Ramamurthy says most market participants are yet to embrace the new closing auction system, with only a handful of institutions participating a month after its launch. The muted uptake suggests the mechanism is still grappling with initial teething issues.
Can Karamtara Engineering IPO deliver long-term growth for high-risk investors?
Karamtara Engineering plans a ₹875 crore IPO to repay debt and fund expansion. The company has shown healthy financial growth over recent years. However, it faces risks from renewable energy sector regulations and metal prices. Its integrated manufacturing capacity positions it well in the solar sector. The IPO appears suitable for investors with higher risk […]
NSE slashes IPO size to Rs 23,500 crore in revised Sebi filing
The National Stock Exchange has updated its draft prospectus with Sebi, slashing its initial public offering size to about twenty-two thousand five hundred crore rupees. Existing shareholders will see their offer for sale drop to five point two five percent of the paid-up capital. Anticipating a launch in the third week of September, this adjustment […]
Subhash Chandra Garg cherry-picking figures from two different bases: CBIC
Garg, who has been at the centre of the recent controversy over the government’s GDP growth estimates, had questioned the Centre’s claim of 14.8% growth in gross GST collections in August and 11% growth in the first five months. In a social-media post, with an attached article, he argued that the headline numbers present an […]
RBL Bank raises $350 million in debut international bond sale
RBL Bank has raised $350 million through its first international bond sale, pricing bonds tighter than initial guidance. Strong investor demand supports funding for GIFT City growth and liability management, while Emirates NBD’s backing strengthens credit quality and investor confidence.
RBI explores tokenising gold amid push to expand Unified Markets Interface
The Reserve Bank of India is exploring gold tokenisation for its Unified Markets Interface. This platform currently settles tokenised financial instruments using central bank digital currency. RBI aims to expand the interface to include more asset classes beyond existing tested instruments. While gold is a possibility, other financial assets are also under examination. The central […]
SRG housing loans worth Rs 400 crore may be fictitious: National Housing Bank
The National Housing Bank raised concerns over SRG Housing Finance, identifying potentially fictitious loan accounts. Investigations have revealed that around one-third of the lender’s loan portfolio consists of these phantom accounts. The inquiry also indicated possible manipulation regarding non-performing assets and the practice of evergreening. Funds linked to these dubious accounts were allegedly redirected to […]
FCNR boost for bank credit growth may be temporary, says Axis CEO Amitabh Chaudhry
Recent foreign currency deposits could provide a short-term uplift to the growth patterns in bank lending. With the narrowing of differentials, it’s anticipated that domestic interest rates will rise soon. The banking sector is poised for accelerated consolidation in the upcoming years, favoring larger banks that leverage scale and technological innovation. In this landscape, Axis […]
RBI Deputy Governor Rohit Jain flags speed, concentration and opacity as fintech risks; says technology must serve customers
RBI Deputy Governor Rohit Jain warned financial institutions and fintech firms that rapid adoption of emerging technologies brings risks around speed, concentration and opacity. He said institutions must ensure technology works fairly, reliably and safely for customers, while retaining responsibility for outcomes even when computing, cloud infrastructure or models are outsourced.