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Corporate Actions This Week: Infosys, Tata Elxsi, Indian Bank, ACC, Adani Ports, And More
Corporate Actions This Week
F&O Talk: Nifty may consolidate further; Sudeep Shah's strategy on TCS, HDFC Bank, Infosys
Indian stock markets, Sensex and Nifty, closed lower following the RBI's hawkish stance, despite falling oil prices. Analyst Sudeep Shah anticipates a consolidation phase for Nifty, with key support at 23,100-23,050 and resistance at 23,550-23,600. Bank Nifty shows resilience, while IT stocks underperform.
Free flow of FCNR(B) money: RBI to bear hedging costs on NRI FX deposits, easing banks’ overseas funding
The Reserve Bank of India is now covering all hedging costs for banks raising foreign currency deposits. This move aims to make these deposits more attractive to overseas depositors. Banks expect to offer higher interest rates, potentially up to 100 basis points. This initiative seeks to increase dollar inflows through banking channels and revive interest in FCNR(B) deposits.
INR appreciates under Rs 95 per dollar after RBI announces measures to support foreign capital inflows and strengthen forex liquidity
The Indian rupee appreciated 81 paise to close at 94.93 (provisional) against the US dollar on Friday after the Reserve Bank announced measures to support foreign capital inflows and strengthen forex liquidity. The announcements in the RBI policy boosted investor sentiments after the apex bank asserted that the country's forex reserves provide a sufficient buffer against external shocks. The Reserve Bank on Friday expectedly kept interest rates unchanged for the second time in a row as it weighed the impact of rising energy prices and supply disruptions caused by the West Asia crisis. The RBI kept its repo rate Steady at 5.25% amid uncertainty owing to US-Iran War. However, it expanded the Fully Accessible Route, or FAR, to include all new 15-year, 30-year and 40-year government security issuances. Due to this, the foreign investors will get wider access to longer-tenor Indian government bonds. This also opens up more room to invest in Indias bond market. The central bank has also ...
INR regains momentum with all eyes on RBI monetary policy
The Indian rupee is regaining some momentum in opening trades on Friday as the global crude oil prices eased and market participants keenly awaited the RBI's MPC decision today. Heightened geopolitical tensions between the US and Iran drove energy volatility and aggressive safe-haven buying capped sharp gains in the local unit. INR opened at Rs 95.72 per dollar and hit a high of 95.63 so far during the day. Yesterday, rupee depreciated 7 paise to close at 95.83 against the US dollar. Local markets opened in the green with investors closely watching the Reserve Bank of India (RBI) monetary policy announcement scheduled for today. The Indian benchmark indices are trading higher today, with the NIFTY 50 hovering around 23,442.30 (+0.11%) and the S&P BSE SENSEX trading at 74,556.68 (+0.26%).
Stocks in news: Tata Steel, ICICI Bank, Tata Motors, Vedanta, Maruti Suzuki
Indian markets traded cautiously on Thursday's weekly expiry, with analysts observing a continued tussle for direction in the Nifty. Key companies like Tata Steel, Tata Motors, ICICI Bank, Vedanta, and Maruti Suzuki are in focus due to significant business updates and regulatory developments.
Tata Steel eyes 9% India sales growth this fiscal
Tata Steel aims for a nearly 9% increase in Indian steel sales this fiscal year, leveraging expanded capacity at its Kalinganagar facility. The company is also on track to fully repay overseas subsidiary bonds by fiscal year-end, a move that has significantly reduced its exposure to currency depreciation risks and strengthened its financial flexibility for future investments.
India Launches UPI payments in Cambodia through NPCI-ACLEDA bank partnership
National Payments Corporation of India has officially partnered with ACLEDA Bank to launch Unified Payments Interface (UPI) acceptance in Cambodia. The Ministry of Finance said that the first phase enables millions of Indian travellers to make seamless QR payments at over 4.5 million Cambodian merchants, with a two-way corridor to follow. It said that the in the subsequent phase, the corridor will become fully bi-directional. Cambodian citizens visiting India will soon be able to use their domestic banking and digital payment applications to scan millions of UPI QR codes throughout India. The Ministry said that UPI is accepted in eight countries including Singapore, the United Arab Emirates, France, Mauritius, Nepal, Bhutan, Qatar and Sri Lanka. Reserve Bank of India (RBI) has been actively pursuing interlinking of Unified Payments Interface (UPI) with fast payment systems of other jurisdictions to promote cross-border payments. These initiatives are aligned with the G20 Roadmap for .
Top Gainers & Losers on June 2: Newgen Software Tech, Concord Biotech, TCS, HFCL, NMDC among top gainers
On June 2, Indian stocks rebounded with benchmarks up over 0.5%, driven by technology shares. The Nifty 50 and Sensex closed at 23,506 and 74,692, respectively. However, India fell to seventh in global market capitalisation due to overseas selling and weak earnings growth.
Nearly two-thirds of bank loans now priced below 9% as rate cuts bite
Indian banks are offering more loans at lower interest rates. Almost two-thirds of all bank credit now has rates below 9%. This shift follows a year of aggressive rate cuts. While credit growth is strong, banks' profit margins face pressure. Metropolitan areas and public sector banks lead lending. Agriculture and industrial credit also accelerated. Personal loan growth moderated.
Nearly two-thirds of bank loans now priced below 9% as rate cuts bite
Indian banks are offering more loans at lower interest rates. Almost two-thirds of all bank credit now has rates below 9%. This shift follows a year of aggressive rate cuts. While credit growth is strong, banks' profit margins face pressure. Metropolitan areas and public sector banks lead lending. Agriculture and industrial credit also accelerated. Personal loan growth moderated.
Indian stocks saw biggest-ever one-day foreign investor exodus on Friday as ₹21,105 crore exited
Foreign investor selling in Indian equities reached an all-time high amid MSCI index changes, even as softer market valuations and hopes of reforms keep expectations of a return in overseas flows alive.