By the end of September, the gap between credit and deposit growth in India’s banking system has narrowed to 162 basis points from 220 basis points. This change reflects regulatory efforts to increase deposits while de-risking the financial system, as demand for loans continues to rise.
Posts in category Economic Times
Reliance Power board approves raising $500 million through FCCBs (03-10-2024)
Reliance Power’s board approves raising $500 million via unsecured foreign currency convertible bonds issued to affiliates of Värde Investment Partners, LP. This follows a recent Rs 1,525 crore fundraise. The funds will be used for business expansion, debt reduction, and corporate purposes. ESOS for employees has also been formulated.
Rakesh Gangwal invests over $100 million in Southwest Airlines shares (03-10-2024)
According to filings with the Securities and Exchange Commission, Gangwal bought the shares between September 30 and October 1, at prices ranging from $29 to $30 per share. This move aligns Gangwal’s interests closely with those of Southwest’s shareholders, strengthening his role in influencing the airline’s strategic direction, say experts.
RBI’s overseas investments earn it a handsome 52% return in Q1 (03-10-2024)
The Reserve Bank of India’s income from reserve assets surged 52% to $4.1 billion in the June quarter, driven by higher returns on bonds and deposits. However, US Federal Reserve rate cuts could affect these gains. Higher commission on dollar sales and valuation gains from gold prices contributed significantly.
Rupee suffers worst fall in two months, closing at 83.96 vs US dollar (03-10-2024)
The local unit weakened 14 paisa for the fourth consecutive day and ended at 83.96 per US dollar, versus its previous close of 83.82/$1, LSEG data showed. Likely central bank intervention kept the local currency from crossing the 84/$1 mark, traders said.
Sebi raises contract size and limits options to curb retail trading risks (03-10-2024)
The Securities and Exchange Board of India (Sebi) Tuesday increased the minimum contract size in index derivatives to Rs 15 lakh from the current Rs 5 lakh, making options trading costlier. At the same time, it reduced weekly index product offerings to just one per exchange, seeking to curb frenzied speculation among retail traders.
DMart Q2 update: Standalone revenue rises 14% to Rs 14,050 crore (03-10-2024)
Avenue Supermarts (DMart) reported 14% growth in standalone revenues for Q2 FY25. Total stores increased to 377. The company aims to add 45 stores in FY25. In Q1 FY25, DMart clocked 17% growth in net profit and 19% growth in revenues.
Despite market mayhem, these 4 stocks hit fresh 52-week highs (03-10-2024)
Reaching a 52-week high is a notable achievement for a stock, as it signifies the highest price attained within the past year.
Ahead of Market: 10 things that will decide stock action on Friday (03-10-2024)
Indian indices fell sharply on Thursday, dragged by Middle East tensions. Nifty closed at 25,250, down 2.12%. Analyst Rupak De sees a bearish trend reversal, with support at 25,070. Tejas Shah sees potential for a minor pullback rally, with support at 25,200-25,050 and resistance at 25,475-25,700.
Market Trading Guide: Coforge, Deepak Fertilizers are stock recommendations for Friday (03-10-2024)
Indian indices fell sharply on Thursday, dragged by Middle East tensions. Nifty closed at 25,250, down 547 points. Analyst Jatin Gedia sees a negative outlook for the market, with support at 25,300.