India Post Bank is gearing up to go public in a year
IPPB was set up under the Department of Post, with 100% equity owned by the government. The department has now begun discussing how much equity would the Centre divest in the payments bank, people aware of the matter said.
Gensol Engg shares plunge following rating downgrades
Both agencies have downgraded Gensol to their respective ‘D’ citing high-risk of defaulting on its payments. Earlier in February, the chairman and MD of the company had sold part of his shares to reduce the pledged shares against the loan for the company.
Lohum plans to raise $200 million ahead of IPO
Lohum aims to raise $100 million in its series C round and another $100 million in pre-IPO placement, Verma said, adding that the formal fund-raising process will begin in the next couple of months.
Auto stocks top FPIs’ sell list in second half of Feb
The automobile sector witnessed the highest outflows in the second-half of the month as these investors dumped shares worth ₹3,279 crore after selling to the tune of ₹690 crore in the first-half of the month. In 2024, foreign investors pulled out over ₹16,000 crore from the sector.
ET Exclusive: Leadership key to India growth story, says top Wall Street bargain hunter Howard S Marks
Howard S Marks from Oaktree Capital Management discusses his views on the unpredictable economic environment, Trump’s policies, and the potential of the US Big Tech. He highlights his concerns about politics, demographics, and immigration policies, while expressing optimism about India’s growth, emphasizing the importance of leadership and equitable development.
Declining crude prices fire up oil marketing cos’ shares
Shares of Hindustan Petroleum Corporation (HPCL) went up 3.7%, Bharat Petroleum Corporation (BPCL) gained 3.6% and Indian Oil Corporation (IOC) rose 2.7%.
RBI’s 14-day VRR auction for Rs 50,000 cr on March 7
This is likely to offset outflows that would happen after corporates pay their quarterly advance taxes by March 15, economists said. The VRR auction comes one day after the RBI announced additional liquidity measures comprising ₹1 lakh crore of open market operations (OMOs) and $10 billion of dollar-rupee buy-sell swaps.
Tighter fiscal policy in works with capex outlay at 3% of GDP
The government plans to enhance financial discipline and align budget allocations to reduce the debt ratio by seven percentage points by FY31. The finance ministry aims to maintain core capex outlay at a minimum of 3% of GDP, adjusting based on private investments, while closely monitoring fund utilization and absorptive capacity of ministries.
India considers lowering import duties on American walnuts, almonds, apples, and cranberries
India may lower or eliminate import duties on American walnuts, almonds, apples, and cranberries to enhance trade relations with the US. Talks are ongoing with negotiators in Washington. India aims for a bilateral trade deal by the end of the year with a target of $500 billion in bilateral trade by 2030.
Declining crude prices adds elbow room for rate cuts amidst weakening rupee
India’s central bank may have room for monetary easing due to falling global crude prices offsetting risks from a weaker rupee. Despite concerns over imported inflation affecting the consumer price index, easing energy prices could help lower import costs, thereby supporting further rate reductions.