India’s removal of the National Company Law Tribunal approval for reverse flip mergers is accelerating the return of Indian startups domiciled abroad. This change has reduced the process time significantly, encouraging companies like Razorpay and KreditBee to return in anticipation of better IPO prospects in India’s flourishing market.
Posts in category Economic Times
Stock to watch: Adani Enterprises shares in focus after company approves Rs 4,200 cr share sale to investors via QIP (10-10-2024)
Adani Enterprises has approved a Rs 4,200 crore share sale to large investors through a QIP issue, setting a floor price of Rs 3,117.4750 per share. The issue, managed by SBI Capital Markets Limited, Jefferies India Private Limited, and ICICI Securities Limited, aims to raise funds for the company.
China central bank kicks off 500 billion yuan swap facility to aid stock market (10-10-2024)
China’s central bank is initiating a 500 billion yuan funding scheme for financial institutions to bolster the capital market. Eligible firms, including securities, fund companies, and insurers, can apply to use assets as collateral for highly liquid assets. This move follows recent stock market declines.
Oil prices rise on Israel-Iran conflict fears and U.S. storm (10-10-2024)
Oil prices increased on supply concerns in the Middle East and higher fuel demand due to a major storm in Florida. Israel is planning to strike Iran. U.S. President Biden discussed the issue with Israeli Prime Minister Netanyahu. A recent storm has raised demand for gasoline in Florida, contributing to higher crude prices.
US equities rise after Fed minutes; inflation data and earnings in focus (10-10-2024)
Wall Street stocks rose on Wednesday, with the S&P 500 and Dow reaching record highs after Federal Reserve meeting minutes were released. Alphabet shares dropped 1.5% amid potential antitrust actions. Investors are eyeing upcoming inflation data and the earnings season. Hurricane Milton threatens Florida while Boeing shares declined following union talks breakdown.
Gold prices flat ahead of US inflation print (10-10-2024)
Gold prices remain stable as traders anticipate U.S. inflation data, which could influence the Federal Reserve’s monetary policy. Spot gold is nearly flat at $2,609.72 per ounce. Markets see a high chance of a rate cut in November. Lower rates can make holding gold more attractive. The U.S. CPI data is awaited.
Dollar hovers near two-month peak as Fed easing bets ebb before inflation data (10-10-2024)
The U.S. dollar nears a two-month high as traders scale back expectations for rate cuts, spurred by strong payroll data. Markets anticipate steady core inflation from the upcoming CPI report. The euro and yen show minimal movement, while the Australian dollar dips amid China’s lackluster stimulus news.
Asian equities climb as US record high lifts mood (10-10-2024)
Shares in Japan, South Korea and Australia climbed while Hong Kong equity futures also rose. An index of US-listed Chinese companies fell in New York trading, following the biggest drop in more than four years for mainland China’s benchmark index on Wednesday.
GIFT Nifty up 110 points; here’s the trading setup for today’s session (10-10-2024)
Foreign portfolio investors turned net sellers at Rs 4,563 crore on Wednesday. DIIs bought shares worth Rs 3,509 crore.