Back in February, economists at ING predicted that the US Federal Reserve’s June meeting would be pivotal. They speculated the assembly would stir a change in the US central bank’s tone regarding financial policies, which are in place since the beginning of the pandemic. The Federal Reserve lived up to that hype. During this meeting …
The private lending institution, ICICI Bank, managed to raise over Rs. 2827 crores through bond issuance on a private placement basis. ICICI Bank’s Board of Directors approved of this fundraising endeavour in April. As per the regulatory filing, the private lending institution allotted a total of 28,274 senior unsecured redeemable long-term bonds, made available in …
The Rupee crashed by 76 paise, yet again against the American Dollar on June 17 2021, Thursday. The Indian currency now settles at 74.08 amongst a much stronger US currency after the US Fed reserve signalled an interest rate hike, which was earlier than expected. INR depreciated for the eighth session in a row. Meanwhile, …
As per recent reports, Wipro – the Indian IT giant has partnered with Germany-based Aachen, an FEV firm. This partnership aims to develop software-driven vehicles. In their recent regulatory filing to the stock exchanges, Wipro stated that they have jointly set up an innovation lab. It will develop different scalable software, electronic/electrical architecture for vehicles, …
The Department of Promotion of Industry and Internal Trade (DPIIT) has indicated the government’s decision to increase Foreign Direct Investment (FDI) threshold in the Indian insurance sector to 75% from 49% (2015). This statement was a result of poor density and penetration in the country’s indisposed insurance sector. What led to this announcement? According to …
On Friday, June 18, gold prices climbed, imitating gains in international markets as investors made the most of buy-the-dip opportunities. As a result, gold futures on the Multi Commodity Exchange surged 1% to Rs. 47,387 per 10 grams. On the other hand, silver futures surged to Rs. 68,440 per kilogram, representing a 1.24% increase. In …
As the global economy recovers from the impact of the pandemic, demand for crude oil is set to rise. Wall Street believes that the rally in prices has enough potential to move up in the near future. Francisco Blanch, the commodities strategist of Bank of America, stated in a research note that oil might hit …
Paytm is obtaining stakeholders’ approval to liquidate nearly Rs. 120 billion in new stock. If the Indian digital-first payments firm gets the nod from shareholders, this could turn into South Asia’s biggest IPO to date, worth a whopping $1.6 billion. This firm has the backing of Japan’s SoftBank (18.73%), Elevation Capital (17.65%), and China’s Alibaba …
On 18 June 2021, HDFC Bank declared a dividend of Rs. 6.5 per share (650% on the face value of Re. 1) for the year ended 31 March 2021. However, the proposal is up for shareholders’ approval at the Annual General Meeting scheduled on 17 July 2021. If shareholders approve this recommendation, the expected date …
Oil continued to hold gains on Wednesday and seemed to consolidate its seven-week high on hopes that two major markets- the US and Europe will kickstart steady consumption soon. The hope comes on the back of efforts of the two economies to reopen on a larger scale and bolster vaccination efforts. Steady reopening of major …
