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In a Reuters survey of 29 market analysts and traders, all participants predicted no change to the one-year LPR, while a vast majority of them also expected the five-year rate to remain steady.

Oil prices rise on supply deficit concerns

Updated at : 2023-09-20 07:25:01

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Oil prices rose in early trade on Tuesday for the fourth consecutive session, as weak shale output in the U.S. spurred further concerns about a supply deficit stemming from extended production cuts by Saudi Arabia and Russia.

In his letter addressed to the board, the largest shareholder, B Ravindran Pillai, proposed "removal of Mr Sridhar Kalyanasundaram from the board of directors", said two people aware of the development at the bank. Pillai proposed a special resolution at the annual general meeting scheduled on September 30 to remove Kalyanasundaram.

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In June the Fed paused, but the quarterly economic projections accompanying that decision showed 12 of 18 policymakers still anticipated two more quarter-point rate increases by the end of the year.

Total eyeing 50:50 JV with Adani Green

Updated at : 2023-09-20 07:25:01

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French energy major TotalEnergies is reportedly close to investing $300 million in a 50:50 joint venture with Adani Green Energy. The joint venture will house around 1 GW of renewable energy projects, including solar and wind power assets. TotalEnergies will contribute the equity investment, while Adani Green will provide the renewable energy assets.

​​Promoters buying shares of their companies is considered positive as they are perceived to know best about their firms’ prospects. Securities and Exchange Board of India regulations permit a promoter to purchase up to 5% equity of his company in a financial year from the open market through the creeping acquisition route.

Torrent Pharmaceutical is in preliminary talks with Apollo Global Management to secure a loan of up to $1 billion to help fund a planned bid for Cipla, Reuters reported.

RBI extends HDFC Bank MD’s tenure by 3 years

Updated at : 2023-09-20 06:35:01

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The Reserve Bank of India has approved the re-appointment of Sashidhar Jagdishan as MD and CEO of HDFC Bank. Jagdishan, a chartered accountant with over 31 years of experience, joined the bank in 1996 and has played a critical role in its growth.

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