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Stocks to Watch today: Lenskart, ZEEL, REC, PFC, Eternal, Airtel and more
Stocks to watch today: Lenskart, Zee Entertainment, REC, PFC, Eternal, Airtel, Tata Consumer Products, Vascon Engineers, Nuvama Wealth, Rajesh Exports, among others, will be in focus today.
Power finance cos turn to global markets for cheaper funds
Indian power and renewable energy firms are looking abroad for loans. The Reserve Bank of India's new dollar-rupee swap facility has made foreign currency borrowing cheaper. Companies like REC and PFC are planning to raise significant funds through external commercial borrowings. This move is expected to lower borrowing costs for these public sector undertakings.
FX swap window may spur PSU rush for overseas loans
Public sector units like PFC, REC, and NaBFID are poised to increase their External Commercial Borrowings (ECBs) to leverage the RBI's 1.5% fixed-rate swap. This initiative is expected to attract significant dollar inflows, offering Indian companies cheaper funding options below 7% compared to domestic rates.
Stock market today: From Swiggy, IRFC to RVNL— More than 700 stocks hit 52-week lows on BSE amid stock market crash
As many as 719 stocks, including Swiggy, SBI Cards and Payment Services, IRFC, RVNL, REC, Concor, DLF, Naukri, Page Industries, Procter & Gamble Hygiene and Health Care, and Shree Cement, hit their 52-week lows in intraday trade on the BSE.