Digital euro likely to be rolled out in mid-2029: ECB’s Piero Cipollone
The digital euro project is gaining momentum, potentially launching in mid-2029, according to ECB’s Piero Cipollone. Euro-area finance ministers have reached an agreement on customer holding limits, marking a significant step forward. Discussions among member states are progressing positively, suggesting a concrete timeline for the digital currency’s introduction.
Asian stocks edge lower after mixed Fed signals
Asian stocks declined following a tech-driven dip in the S&P 500, compounded by cautious signals from Federal Reserve officials regarding interest-rate cuts. Jerome Powell highlighted persistent risks in both the labor market and inflation, maintaining flexibility amid pressure for aggressive easing. Oil prices rose due to concerns over Russian supply disruptions.
HNIs turn to risky debt investments for double-digit returns
Money managers are advising wealthy Indian investors to consider higher-risk debt options. These options include deals from Shapoorji Pallonji and Pharmeasy. Minimum investments are significantly higher, creating an exclusive market. These private debt transactions offer double-digit returns. However, they come with limited liquidity and increased risk. Experts emphasize the importance of understanding these risks before […]
Rupee hits record low amid rising US visa fees and tariffs
The Indian rupee plummeted to a record low of 88.7975 against the dollar, becoming the worst-performing Asian currency due to rising US visa fees and trade tensions. These factors threaten India’s IT sector and remittances, exacerbating pressures from high tariffs and weak foreign investment. The RBI’s limited intervention suggests a possible strategy to aid exporters […]
Jerome Powell signals US Federal Reserve to move slowly on interest rate cuts
Jerome Powell, Federal Reserve Chair, indicated a careful strategy for upcoming interest rate reductions. This contrasts with other Fed officials advocating for quicker action. Stephen Miran suggested a significant rate cut. Michelle Bowman also supported faster cuts due to cooling inflation and a weakening job market. Other Fed officials, like Austan Goolsbee, urged caution, citing […]
NDR InvIT Trust bulk deals: Radhakishan Damani picks Rs 100 cr stake; Rakesh Jhunjhunwala trust invests Rs 67 cr
Ace investor Radhakishan Damani and Aryaman Jhunjhunwala’s trust bought shares worth over Rs 166 crore in NDR InvIT Trust via block deals, lifting the stock 4.35% and hitting a fresh 52-week high.
Morgan Stanley, Citigroup invest in Epack Prefab Technologies’ anchor round; co raises Rs 180 crore ahead of IPO
Epack Prefab Technologies garnered Rs 180 crore from anchor investors, including Whiteoak Capital and Morgan Stanley Asia, prior to its Rs 504-crore IPO opening on September 24. The company finalized the allocation of 74.11 lakh shares at Rs 204 per share. Proceeds from the IPO will fund manufacturing expansion and debt repayment.
Medicap Healthcare files papers with Sebi for Rs 240-cr IPO
Medicap Healthcare Ltd has filed draft papers with markets regulator Sebi to raise Rs 240 crore through an initial public offering (IPO).
Nomura sees good times for Indian steel players, picks JSW Steel, Jindal Steel
Nomura reaffirmed its bullish stance on India’s steel sector, citing strong domestic demand, Chinese production cuts, and potential Beijing stimulus. It raised targets for JSW Steel (Rs 1,300) and Jindal Steel (Rs 1,150), forecasting capacity-driven growth and EBITDA expansion. Import curbs, firm demand, and improving pricing dynamics support sector outlook.
Vodafone Idea shares end 4% up ahead of Supreme Court’s Friday hearing
Vodafone Idea shares surged 7% intraday amid investor hopes for Supreme Court relief on Rs 9,450 crore AGR dues. The apex court will hear the plea on September 26, a crucial decision impacting funding plans, debt resolution, and operational continuity for the debt-laden telecom operator seeking clarity on dues reconciliation.