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HDFC Bank chairman search narrows to 3 candidates as board nears decision
HDFC Bank has shortlisted three candidates for its next non-executive chairman, with the board expected to finalise its recommendation by end-June. The decision is closely linked to CEO Sashidhar Jagdishan’s future and comes amid ongoing governance-related scrutiny.
Industry must adopt emerging tech to boost productivity, remain competitive: Steel Minister
Union Steel Minister HD Kumaraswamy has urged the Indian steel industry to embrace emerging technologies like AI and IoT to boost global competitiveness and productivity. Speaking at a digitalization seminar, he emphasized that future success hinges on intelligent ecosystems, not just capacity. The minister highlighted the government's ambitious steel production targets, driven by infrastructure and manufacturing growth, and stressed that digitalization is crucial for long-term survival and enhanced safety.
US Dollar Index firmly perched above the crucial 101 level; Euro, Pound tumble sharply against greenback
The dollar index scales above 101 mark for the first time in more than a year amid growing indications of a Federal rate hike in the near future. The Federal Reserve's hawkish tone at its latest meeting is seen bolstering gains the U.S. dollar. However, the yield on the US 10-year Treasury note fell to 4.48% on Tuesday as markets reacted to signs that a USIran deal could move closer to a lasting agreement. The dollar index hovered around 101.24 this morning, trading at its highest level in more than a year as expectations for Federal Reserve rate hikes this year remained strong. An unexpectedly hawkish Fed meeting chaired by Kevin Warsh last week boosted expectations for a year-end interest rate hike. Markets are also looking ahead to this weeks PCE inflation report, the Feds preferred inflation gauge, for additional clues on the outlook for monetary policy. Among basket currencies, British pound weakened against a firmer US dollar and tumbled under $1.32 mark as investors balanced .
Oil, AI and chips: The new resource race redrawing markets and nations
The leap to a $5 trillion valuation for Nvidia underscores a dramatic paradigm shift: semiconductors have become the driving force of global economic prowess, akin to oil in previous centuries. With nations such as Taiwan and South Korea emerging through powerhouses like TSMC and Samsung, the future prosperity relies heavily on mastering the semiconductor supply chain as AI technology evolves, reshaping national strength and financial stability.
INR stays hammered as dollar stands tall on hawkish Fed
The Indian rupee continues to stay pressured against the dollar in opening trades on Wednesday, tracking firm dollar overseas. Mildly positive start to local equities and easing oil prices are unable to support rupee that is hammered by gains in DXY on the back of a hawkish dollar overseas. INR opened at Rs 94.88 per dollar and hit a low of 94.93 so far during the day. Yesterday, the counter settled at 94.76. The dollar index scales above 101 mark for the first time in more than a year amid growing indications of a Federal rate hike in the near future. The Federal Reserve's hawkish tone at its latest meeting is seen bolstering gains the U.S. dollar. The upcoming PCE inflation report, the Feds preferred gauge, will be closely watched this week for further clarity.
Yes Bank to consider fundraise plans on June 29
Yes Bank's board is set to convene on June 29 to deliberate on significant fundraising initiatives. The bank plans to explore options for raising capital through equity and debt issuances, including private placements and preferential allotments. Shareholders may be asked to approve these measures, as the bank assesses its future capital needs. This strategic move aims to bolster the bank's financial standing.
NITI Aayog proposes pharma chapter for future FTAs, urges India to move up value chain
Niti Aayog proposes a blueprint for free trade agreements to boost regulatory predictability in India's pharmaceutical sector. The think tank urges a shift towards high-value segments, emphasizing enhanced industry-academia collaboration for patent commercialization and startup incubation. While India is the 'pharmacy of the world,' it needs to move up the value chain by focusing on deeptech innovation to become a capital for pharma innovation.
YES Bank board to consider fundraise via equity and debt securities
Yes Bank's board will meet on June 29, 2026, to consider capital raising through equity and debt instruments. The proposals aim to provide flexibility for future fundraising aligned with regulatory requirements, while seeking shareholder approvals at the upcoming AGM.
Tata Motors to invest up to Rs 40,000 crore by FY31
Tata Motors is set to invest up to Rs 40,000 crore over five years, aiming to nearly double its passenger vehicle capacity and introduce new models. The company targets a 20% domestic market share by FY31, with electric and CNG vehicles driving significant growth. This ambitious plan includes expanding its EV lineup and enhancing battery technology to address adoption barriers, positioning Tata Motors for a multi-powertrain future.
REITs' leasable area to rise 30% by FY28, credit profiles to remain healthy
India's listed office REITs are poised for significant expansion, with leasable space projected to grow by 40-45 million sq ft by 2027-28. This growth, fueled by new listings and acquisitions, coupled with strong rental income and stable occupancy, will bolster credit profiles. Despite reliance on debt for future acquisitions, leverage is expected to remain controlled, ensuring a robust sector.
YES Bank board to consider raising funds through equity and debt issue
YES Bank's board will meet on June 29 to consider raising money through shares and debt instruments, as the lender evaluates future capital requirements and seeks flexibility for fundraising.
Dollar index scales above crucial 101 mark
The dollar index scales above 101 mark for the first time in more than a year on Tuesday amid growing indications of a Federal rate hike in the near future. The Federal Reserve's hawkish tone at its latest meeting is seen bolstering gains the U.S. dollar. However, the yield on the US 10-year Treasury note fell to 4.48% on Tuesday as markets reacted to signs that a USIran deal could move closer to a lasting agreement. The upcoming PCE inflation report, the Feds preferred gauge, will be closely watched this week for further clarity. The dollar index that measures the greenback against a basket of currencies is quoting at 101.09. Among basket currencies, British pound weakened against a firmer US dollar but remained comfortably above $1.32 as investors balanced easing political uncertainty with weaker UK economic data. However, euro slumped to a one-year low. The Swiss franc weakened to near 0.81 per US dollar, falling near its weakest level since November 2025 amid a stronger U.S. ...