Asian stocks steady at open, Bitcoin dips again
Asian stocks traded in tight ranges as investors awaited fresh catalysts, with a cryptocurrency rebound losing steam. Mixed performance in regional markets mirrored Wall Street’s cautious approach ahead of key central bank rate decisions. Traders are carefully assessing economic data and potential Fed policy shifts, anticipating a ‘back and forth’ pattern in equities before a […]
Bank of England warns debt-fuelled AI spending boom could unravel
The Bank of England has issued a stark warning. A massive spending boom in artificial intelligence infrastructure, funded by debt, faces significant risks. Stretched stock market valuations are a major concern. A correction in AI stocks could impact wider debt markets. This situation is developing and could affect household wealth and borrowing costs.
IL&FS could get 25% rise in valuation for its headquarters in BKC
IL&FS headquarters in BKC may see a 25% price increase. The NCLT allowed a valuation revision due to Mumbai’s real estate growth. Brookfield’s subsidiary Chronos must renew its performance guarantee within 30 days. This follows a dispute over the original bid terms from 2022. New valuations could reach ₹2,000-2,500 crore.
Shapoorji Pallonji Group to tap banks to refinance ₹2,000-cr loan
Shapoorji Pallonji Group is shifting its debt refinancing plans. The group is now leaning towards mainstream banks for a ₹2,000 crore loan. This move comes as bank credit is more cost-effective than private credit. The loan will be secured by shares of Afcons Infrastructure and real estate assets.
Wakefit’s Rs 1,300-crore IPO to open on December 8
The IPO comprises a fresh issue of equity shares aggregating up to ₹377 crore and an OFS of 4.67 crore shares by existing investors. Axis Capital, IIFL Capital Services, and Nomura Financial Advisory are the book-running lead managers to the issue.
Nomura sets 2026 Nifty target at 29,300, sees 13% upside ahead
Nomura has set a price target of 29,300 for the Nifty in 2026, projecting a nearly 13% upside. The brokerage cited calmer geopolitics, stable macros, and economic recovery as reasons for its positive outlook. Indian equities have underperformed global markets, bringing valuations in line with historical averages.
Union, Yes Bank set to enter Bank Nifty as index expands
Nifty Bank index is expanding to 14 stocks with Yes Bank and Union Bank of India joining. This change, mandated by Sebi, will reduce the influence of top constituents like HDFC, ICICI, and SBI. The rebalancing will occur in tranches from December to March. Passive funds tracking the index will adjust portfolios.
RBI says SBI, HDFC, ICICI remain as systemically important banks
The Reserve Bank of India has identified State Bank of India, HDFC Bank, and ICICI Bank as domestic systemically important banks. These institutions will continue to require additional common equity tier 1 capital ratios of 0.8%, 0.4%, and 0.2% respectively, effective from April this year.
Meesho IPO: Tech firm raises Rs 2,440 crore from marquee anchors including BlackRock, Fidelity and SBI MF
Meesho has successfully garnered Rs 2,440 crore from 125 anchor investors ahead of its IPO debut. Shares have been priced at Rs 111 each. The highly anticipated IPO kicks off on December 3 and wraps up on December 5. Analysts are optimistic about the vast opportunities within India’s burgeoning e-commerce sector, with trading set to […]
Bullion body IBJA sets up self-regulatory body to bring transparency to digital gold
IBJA has launched a self-regulatory division to bring governance, transparency and consumer protection to the fast-growing digital gold industry after Sebi warned that such products lack regulatory oversight. The framework will include audits, standards, disclosures and strict compliance rules.