Investors’ wealth eroded by Rs 6 lakh crore in a single day on Wednesday as the BSE benchmark Sensex tumbled over 790 points. The 30-share BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88. During the day, it slumped 872.93 points or 1.19 per cent to 72,222.29.
Posts tagged Rediff
Why HDFC Bank is shunning high-cost deposits (28-02-2024)
HDFC Bank has been conscious in not accepting high-cost deposits, which have resulted in slower growth in October-December, said Sashidhar Jagdishan, managing director and chief executive officer, during an interaction with Goldman Sachs recently. He said during times of tight liquidity, short terms hardened, as was the case in October-December. “Not only did we participate, but we also gave up which came up for maturity,” he said.
New Challenges Facing Banks (28-02-2024)
As the fight for deposits intensifies, the cost of money will rise and the margin will be under further pressure, points out Tamal Bandyopadhyay.
US Targets India’s Russian Oil Source (28-02-2024)
Urals and Sokol accounted for every 4 out of 5 barrels of Russian supplies to India last year.
Adani Green to raise $409 mn bonds to repay loan (27-02-2024)
Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani’s conglomerate, plans to raise $409 million through US dollar-denominated bonds to repay a debt obligation falling this year. In a regulatory filing, the company said the bond will have a door-to-door tenor of 18 years. The proceeds will be used to redeem the $500 million 6.25 per cent senior secured notes due 2024, it said adding these notes were issued on June 10, 2019.
Voda Idea plans to raise about Rs 45,000 cr via equity (27-02-2024)
Vodafone Idea board on Tuesday approved a fund-raise of up to Rs 20,000 crore through a combination of equity and equity-linked instruments, the crisis-ridden telco said, adding promoters will also participate in the proposed equity raise. Overall, Vodafone Idea plans to raise around Rs 45,000 crore through a mix of equity and debt, the company said. The company has been fighting a desperate battle for survival — it has a debt of Rs 2.1 lakh crore and is reporting quarterly losses, amid massive subscriber churn.
Voda Idea plans to raise about Rs 45,000 cr via equity (27-02-2024)
Vodafone Idea board on Tuesday approved a fund-raise of up to Rs 20,000 crore through a combination of equity and equity-linked instruments, the crisis-ridden telco said, adding promoters will also participate in the proposed equity raise. Overall, Vodafone Idea plans to raise around Rs 45,000 crore through a mix of equity and debt, the company said. The company has been fighting a desperate battle for survival — it has a debt of Rs 2.1 lakh crore and is reporting quarterly losses, amid massive subscriber churn.
Misleading ads: SC comes down heavily on Patanjali (27-02-2024)
The Supreme Court on Tuesday came down heavily on yoga guru Ramdev’s Patanjali Ayurved for prima facie violation of the undertaking given by it in the court about its products and also about statements claiming their medicinal efficacy. A bench of justices Hima Kohli and A Amanullah issued a notice to Patanjali Ayurved and its managing director asking why contempt proceedings should not be initiated against them.
Sensex climbs 305 pts on buyingi in index heavyweights (27-02-2024)
Among the Sensex firms, Tata Motors, Tata Consultancy Services, IndusInd Bank, Power Grid, Bharti Airtel, Sun Pharma, JSW Steel and Tata Steel were the major gainers. On the other hand, Bajaj Finance, State Bank of India, Bajaj Finserv, Axis Bank and NTPC were among the laggards.
Are Indian Markets Overstretched? (27-02-2024)
The index is currently trading at 149 per cent of its historical P/B valuation, surpassing its previous peak of 125 per cent made in 2020-21.