Latest Stock Market News

Representatives of Vedanta Resources are traveling to Singapore and Hong Kong to meet bondholders, as the junk-rated Indian miner faces repayment of about $2 billion of notes next year.

Shares in S&P heavyweight Apple Inc fell for a second straight day on news that China had widened curbs on iPhone use by state employees, requiring staff at some central government agencies to stop using their mobiles at work.

The onshore yuan, which touched its weakest level since 2007 on Thursday, has fallen nearly 6% against the dollar so far this year to become one of the worst performing Asian currencies alongside its offshore counterpart.

Some banks are opposed to taking up the resolution plan submitted by SpaceMantra as it is too close to the liquidation value, while some others are inclined to accept the only offer on the table. Voting was supposed to end on Thursday but has now probably been extended until September 15, people familiar with the process said.

“The Nation First Transit Card powered by RuPay and National Common Mobility Card (NCMC) technology, is set to revolutionise the commuting experience and is aligned with the national vision of One Nation One Card,' said Dinesh Kumar Khara, chairman, State Bank of India said.

"This is going to be revolutionary. This will be another UPI (Unified Payments Interface) moment for the credit. That is very clear. In the next one to one-and-a-half years, this will change the landscape of lending," RBI executive director Ajay Choudhary said at the Global Fintech Festival 2023.

RBI deputy governor T Rabi Sankar said on Thursday that the number of retail CBDC transactions would rise exponentially in coming months as interoperability with UPI QR codes would kick in.

The prescriptions for regulating cryptos could serve as global baseline minimum standards for countries that wish to adopt them. “A comprehensive policy and regulatory response for crypto-assets is necessary to address the risks of crypto-assets to macroeconomic and financial stability," the paper said.

The urgency to name a key official in an FPI is felt as it is often not possible to know who calls the shots in a fund which is often structured in multiple layers, with each vehicle in separate jurisdictions. Under the circumstances, the regulator had earlier said that the key official in the apex vehicle, which is at the top of the FPI chain, would be considered as the SMO.

On Thursday, shares of Cochin Shipyard soared 20% to an all-time high of ₹1,146. Mazagaon Dock Shipbuilders shares jumped by 9.51%. Indian Railway Finance Corporation, KIOCL, Power Finance Corp, REC rose by 4-7%. The BSE PSU Index gained 1.5% and the benchmark Sensex advanced 0.6%.