Posts in category Economic Times
US Treasury selloff pauses, though rate cut hopes recede (18-04-2024)
The selloff has come as investors and the Federal Reserve reevaluate the need for interest rate cuts in the face of resilient economic data and signs of strength in the labor market. In an appearance on Tuesday, Fed Chair Jerome Powell was among several Fed speakers over recent days who have said they would need to see drivers of inflation weaken before cutting rates.
Tesla asks investors to approve Musk’s $56 billion pay again (18-04-2024)
Tesla Chair Robyn Denholm criticized the Delaware Chancery Court's January decision, writing in the proxy that it amounted to second-guessing shareholders who had approved Musk's performance-based award in 2018. Chief Judge Kathaleen St. J McCormick described the company's directors as "supine servants of an overweening master" and said they hadn't looked out for the best interests of investors.
Fed there done that: Banks see delay in rate cuts by RBI, too (18-04-2024)
Federal Reserve Chair Jerome Powell Tuesday did not provide any guidance on when interest rates may be cut, saying instead that monetary policy needs to be restrictive for a longer period.
FPO funds to take care of Vi’s capex needs for 3 years: Akshaya Moondra, CEO (18-04-2024)
The balance sheet doesn’t pose any worries, with bank debt at less than Rs 4,500 crore, Moondra said, adding that the FPO will raise enough money to meet capital expenditure needs for three years, with 4G expansion the priority. This will help narrow and ultimately stem subscriber losses and lead to a financial turnaround.
Analysts positive on Vodafone Idea FPO, risk-reward looks favourable (17-04-2024)
The public offering, which closes on April 22, has been priced in the band of ₹10-11 apiece, which is 17-29% below the stock's Tuesday closing price of ₹12.9. Financial markets were shut on Wednesday for Ram Navami.
Credit demand, low liquidity boost deposit rates at banks (17-04-2024)
Despite RBI's unchanged rates, lenders raised deposit rates by 96 bps in FY24 due to rising credit demand. Liquidity tightened with incremental cash reserve ratio, leading to a multi-year high liquidity deficit.
Avaada Energy bags 250 MW solar-wind project in NTPC auction (17-04-2024)
Avaada Energy secures 250 MW hybrid project in NTPC auction, offering Rs 3.47/kWh tariff. PPA spans 25 years, expected to power 5L households, reduce carbon emissions, and contribute to India's green energy supply.
Angel One Q4 Results: Profit rises 27% to Rs 340 crore aided by jump in trading activity (17-04-2024)
The company's profit rose to Rs 340 crore ($40.7 million) in the quarter, boosted by an increase in trading activity, especially among retail investors, as the country's stock market touched record highs and commodity prices rose sharply.
Tata Communications Q4 Results: Profit drops 1.5% YoY to Rs 321 crore; revenue jumps 25% (17-04-2024)
Tata Communications Q4 Results: The Board of Directors has also recommended a final dividend of Rs 16.70 per share for the financial year ended March 31, 2024. As per the latest financial report submitted to the exchanges, the company's EBITDA rose by 2% to Rs 1,056 crore in contrast to the EBIT margin, which declined from 23% to 19%.
NARCL invites application for MD & CEO post (17-04-2024)
The National Asset Reconstruction Company (NARCL) is seeking a new managing director and CEO with 25 years of banking experience. The company has appointed P Santhosh as interim chief after the abrupt exit of MD&CEO N Sunder. The new MD and CEO will be given a three-year tenor and will acquire about Rs 2 lakh crore stressed assets in phases.