MUMBAI (Reuters) – India’s Kotak Mahindra Prime plans to raise 2.50 billion rupees ($31.50 million) through reissuance of 6.55% April 2025 bonds, three merchant bankers said on Thursday. The company will offer a yield of 7.33% to investors and has invited bids from bankers and investors on Friday, they said. The bonds are rated AAA …
India’s Kotak Mahindra Prime to re-issue April 2025 bonds – traders Read More »
By Aditya Kalra NEW DELHI (Reuters) – India’s new privacy law draft is “very close” to being released and the government is targeting a parliamentary approval by early 2023, the country’s IT minister told Reuters on Wednesday. India’s government had earlier in the day withdrawn the data protection and privacy bill, which was first proposed …
India targets early 2023 approval for new privacy bill – minister Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices traded in a tight range on Wednesday, pressured by a stronger dollar and Treasury yields as hawkish comments from U.S. Federal Reserve officials pulled the metal further away from last session’s one-month peak. Spot gold rose 0.1% to $1,761.76 per ounce by 2:37 p.m. ET (1837 GMT), seesawing …
Gold range-bound as dollar, T-bond yields pick up steam Read More »
BENGALURU (Reuters) – Shares of India’s SpiceJet Ltd closed nearly 13% higher on Wednesday, following a report that promoter Ajay Singh was exploring the option of selling a portion of his stake in the budget carrier. SpiceJet is in talks with a Middle Eastern carrier for the sale and discussions are also ongoing with a …
India’s SpiceJet surges on report of potential stake sale by promoter Read More »
By Nimesh Vora MUMBAI (Reuters) – India’s record high trade deficit in July signals a further deterioration in the country’s external balances, which is likely to keep the rupee under pressure, analysts said on Wednesday. Trade deficit in Asia’s third largest economy widened to an all-time high of $31 billion, data on Tuesday showed, prompting …
Record trade deficit adds to India’s external balance challenges, rupee woes Read More »
By Aftab Ahmed and Nivedita Bhattacharjee NEW DELHI (Reuters) – Softening commodity prices are holding out hope for Indian consumer-goods firms that have struggled with inflation, particularly in the large but price-sensitive rural market. While reporting a 4.5% fall in second-quarter profit and higher expenses, Nestle India said on July 28 it could see softening …
Easing raw material costs promising for Indian consumer companies Read More »
MUMBAI (Reuters) – Small Industries Development Bank of India, or SIDBI, plans to raise funds selling commercial paper maturing in seven months, three merchant bankers said on Wednesday. The state-run financial institution will offer a yield of 6.20% on this issue, and has received commitments worth around 12 billion rupees ($151.94 million), the bankers said. …
By Swati Bhat MUMBAI (Reuters) – The Indian rupee weakened sharply in afternoon trade on Wednesday, as worries over the country’s worsening external balance were heightened following a record trade deficit, while losses in the domestic stock market also added to the fall. The partially convertible rupee was trading at 79.04 per dollar by 0800 …
Indian rupee weakens in afternoon trade; RBI policy in focus Read More »
MUMBAI (Reuters) – India’s banking system liquidity surplus rose to more than 2 trillion rupees on Wednesday, after dropping to a near three-year low below 500 billion rupees ($6.34 billion) last week. The surplus rose more than four times to 2.02 trillion rupees, compared with last week, as inflows from the government’s month-end spending helped, …
India’s bank liquidity surplus rises after sharp drop last week Read More »
MUMBAI (Reuters) – India’s Tata Capital Housing Finance plans to raise funds through sale of a two-part bond issue, three merchant bankers said. The housing finance company plans to raise at least 500 million rupees ($6.35 million) through three-year bonds and will pay an annual coupon of 7.55% on this issue, which will have a …
India’s Tata Capital Housing Finance to issue bonds – traders Read More »
