Noel Tata’s appointment as chairman of Tata Trusts is likely to ease tensions with Shapoorji Pallonji Group. This could allow SP Group to consider partial monetisation of its 18.4% stake in Tata Sons. Improved relations may help reduce SP Group’s debt through asset divestment and other financial strategies, benefiting both sides.
Posts in category Economic Times
RTGS soon in dollar, euro and pound: RBI (14-10-2024)
An expanded RTGS using major trade currencies would accelerate access to cheaper cross-border payments and remittances. The RBI has often spoken of the need for more cost-effective cross-border payment systems, with deputy governor T Rabi Sankar stating in September 2023 that the prevailing high costs for cross-border remittances were “simply unconscionable”.
National Insurance Company picks out assets to sell amid poor solvency (14-10-2024)
National Insurance Company faces an ₹8,000 crore solvency shortfall, with a negative 0.49% solvency margin against the regulatory minimum of 1.5%. The insurer plans to address the gap by liquidating key assets, including stakes in Agriculture Insurance Company and India International Insurance Singapore, pending necessary approvals.
Hyundai India raises Rs 8,315 crore from anchor investors ahead of IPO opening (14-10-2024)
Hyundai Motor India raised Rs 8,315 crore from 225 anchor investors for its upcoming IPO, allotting shares at Rs 1,960 per share. The IPO, exclusively an offer for sale, will see proceeds go to Hyundai Motor Global. Operating with high capacity utilization, Hyundai plans to drive innovation using the raised funds, while maintaining strong revenue and profit growth.
Ahead of Market: 10 things that will decide stock action on Tuesday (14-10-2024)
Indian indices closed higher on Monday, led by banking and IT stocks. Nifty gained 164 points, closing at 25,128. Sensex gained 591 points, closing at 81,973. Retail inflation accelerated to a 9-month high of 5.49% in September. Analysts expect Nifty to continue its upward momentum.
RIL Q2 Results: From earnings to new business update, here are top 5 takeaways (14-10-2024)
Reliance announced that its first new energy giga-factory is expected to start producing solar PV modules by the end of the year. Chairman Mukesh Ambani mentioned that the new energy business, with its diverse range of renewable solutions, including solar, energy storage systems, green hydrogen, bio-energy, and wind, is set to become a major player in the global clean energy transition.
Market Trading Guide: Oberoi Realty, BSE and Bombay Dyeing among 3 stock recommendations for Tuesday (14-10-2024)
Indian indices ended higher, driven by banking, IT, and realty stocks. Nifty reclaimed 25,000 mark. Nifty formed a green candle, indicating strength. Support at 24,900, resistance at 25,270 and 25,400. Consider “buy on dips” strategy
Reliance Retail sees 3.5% revenue decline amid weak demand in fashion (14-10-2024)
The focus on strengthening our retail operations will help us rapidly scale-up this business in the coming quarters and years and sustain our industry-leading growth momentum,” Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited, said
SBI likely to raise up to Rs 5,000 crore via AT-1 bonds soon (14-10-2024)
SBI is likely to raise up to Rs 5,000 crore through AT-1 bonds next week to boost its core equity capital amid strong credit demand. AT-1 bonds are perpetual bonds used by banks to augment their core equity capital