BUSINESS
Rupee ends 4 paise up at 79.84 against US dollar
"Market participants vary as the central bank's dollar supply at one end limits the downside while the broad-based strength in the dollar pushes the rupee lower. However, one should always keep in mind The trend is your friend -- and any dip in USDINR will be an opportunity to buy as long as it trades above 79 while on the higher side one can expect a rally above 80.10," said Dilip Parmar, Research Analyst, HDFC Securities.
India's external debt rose 8.2% in 2021-22 to $620 billion
Out of this, 53.2 per cent of external debt was denominated in US dollars, the Indian rupee denominated debt was estimated at 31.2 per cent and was the second largest, according to the status report on India's external debt 2021-22, released by the Finance Ministry on Monday.
NTT DATA Payment Services gets RBI nod for payment aggregator license
"This significant development also brings us closer to our vision, that is, to develop NTT DATA Payment Services India as one of the top three payment service providers in the country through better services and superior products," said Dewang Neralla, CEO of NTT DATA Payment Services.
Indiabulls Housing Finance to raise up to Rs 1,000 cr via public issue of bonds
The Tranche II Issue offers various series of NCDs for subscription with coupon rates ranging from 8.33 per cent to 9.55 per cent per annum. The Issue will open for subscription on Monday, September 5 and closes on September 22. The NCDs under the Tranche II Issue have tenures of 24 months (Series I, II, III), 36 months (Series IV, V, VI), and 60 months (Series VII, VIII).
India's foreign exchange reserves fell by $3 bn in last week of Aug
According to the Reserve Bank of India's (RBI) weekly supplementary data, the country's foreign exchange reserves fell by $3 billion to $561.046 billion in the week ending August 26, compared to $564.053 billion in the previous week. This is the fourth straight week when foreign exchange reserves have continued with their declining trend.
Morgan Stanley classifies RIL as top pick, new capex to double earnings
In its latest report Morgan Stanley said RIL's fourth investment cycle this century with capex in chemicals, 5G, retail and new energy totalling over $50 billion over the next three years will double its earnings. Further RIL's capex will increase investor confidence on the $70 billion value creation pivot in the energy business, Morgan Stanley said while moving RIL's scrip to its top pick category.
SBI to raise up to Rs 7,000 crore via Basel-III AT1 bonds
Bidding for the bonds will take place on Wednesday between 11 a.m. and 12 p.m. Non convertible Taxable Perpetual Subordinated Unsecured Basel III compliant Additional Tier 1 Bonds in the nature of debentures of face value Rs 1 Crore each. AT1 Bonds are a type of perpetual bonds that don't have any expiry date which is issued to raise long term capital.
CARE Ratings places NDTV's bank facilities on 'credit watch', shares gallop
Meanwhile, credit rating agency CARE Ratings has placed ratings assigned to NDTV's bank facilities on credit watch with developing implications following takeover decision by the Adani group. NDTV, which had postponed its 34th annual general meeting (AGM)to September 27 from the earlier fixed date of September 20, said it has completed the dispatch of notice for the shareholders meeting on September 3, 2022.
Who were the other passengers in the ill-fated Mistry crash?
Former Tata Sons chairman Cyrus Mistry on Sunday died in a road accident while he was returning from Gujarat's Udwada to Mumbai. The three other occupants in the car were -- brothers Darius and Jehangir Pandole, and Darius Pandole's wife Anahita Pandole. Darius Pandole was CEO & MD of JM Financial Private Equity and earlier was on the board of Tata companies.
Cyrus Mistry's sudden death puts spotlight on SP group's holding in Tata Sons
There were media reports in March this year that SP group was taking a Rs 15,000 crore loan against the holding in Tata Sons. SP Group had talked about separation two years back in September 2020 before the Supreme Court. The largest shareholder in the Tata Group, SP Group had said before the Supreme Court Tuesday that a separation from the Tatas is necessary.
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