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Mumbai: Delhi International Airport (DIAL) is planning to raise ₹3,550 crore through a 15-year bond issue, according to people familiar with the matter. The proposed bond issue is expected to be priced at about 9.50%, although the final coupon is yet to be determined and will depend on market conditions and investor demand, they said….
Oil held onto gains as fading hopes for a deal to reopen the Strait of Hormuz revived inflation concerns before key US data this week. Brent crude was steady near $87.70 a barrel on Tuesday after gaining about 10% over the previous four sessions. The advance in oil weighed on Treasuries, pushing the benchmark 10-year…
Mumbai: The rupee declined by 11 paise to end at ₹95.28 per dollar mainly due to a firm US dollar and an uptick in global crude oil prices. The rupee opened at 95.18 and traded in a narrow range of 95.18-95.31 during the day before ending at ₹95.28, down from its previous close of 95.17…
Kolkata: Bhagwati Products, an electronic manufacturing services JV between Micromax Informatics and China’s Huaqin Technology, may postpone its proposed IPO by two to three quarters as volatility in memory chip prices makes it difficult for brands to provide production forecasts, director Rajesh Agarwal said. The ₹18,000-crore company, which has clients including Vivo, Oppo and Hisense,…
Mumbai: At least 34 companies headed for initial public offerings (IPOs) are racing against an end-of-September deadline and face a daunting task. They must initiate share sales within the next 35 trading sessions – about one issue every trading day – or risk a fresh cycle of regulatory approvals. These companies, seeking to collectively raise…
ET Intelligence Group: Milky Mist Dairy Food, a dairy products maker, plans to raise ₹1,428 crore through a fresh issue for capital expenditure and repay debt. It will also raise ₹125 crore through an offer for sale. The promoter group’s stake will fall to 79.5% after the IPO from 93%. The company manufactures products such…
Mumbai: BSE shares are set to be part of rival NSE‘s benchmark Nifty 50 from September 30, replacing tech firm Wipro in the index, according to a press note issued by the National Stock Exchange of India on Monday. Wipro, which has been part of the 50-stock benchmark since January 17, 2002, is likely to…
Kolkata: HDFC Bank, the country’s biggest private-sector lender, lowered its marginal cost of funds based lending rate (MCLR) by 5 basis points across maturities, while Bank of Baroda announced a 10-basis-point rise in its three-month MCLR. One basis point is a hundredth of a percentage point. The MCLR is the internal benchmark for lenders to…
Mumbai: Aditya Birla Sun Life Mutual Fund expects Indian equities to scale fresh highs over the next year, betting that stronger earnings growth, a more stable rupee and a continuing pipeline of new listings will outweigh concerns around elevated valuations. However, the fund house cautioned that gains are likely to be more measured than in…
Mumbai: State Bank of India shares fell 2.2% on Monday, underperforming a largely flat market, even after the country’s largest lender’s June-quarter earnings came in above analyst expectations. Read more: Indian equities could hit new highs next year: Aditya Birla MF The stock closed at ₹1,072 even as most brokerages retained their positive stance on…