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Cyient DLM has raised INR 259.64 crore ($40m) from 20 anchor investors ahead of its initial public offering (IPO), set to open on Tuesday. The company plans to allot the shares at an anchor investor allocation price of INR 265 per equity share, including share premium of INR 255 per equity share. The eight domestic mutual funds behind the investment included ICICI Prudential, Founders Collective Fund, HDFC MF and Tata Infrastructure Fund. Cyient DLM said it intends to use the net proceeds towards funding incremental working capital requirements, inorganic growth through acquisition and for general corporate purposes.

Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

Janakiraman will look after the departments of consumer education and protection, supervision, financial inclusion and development, inspection, premises, and Rajbhasha. Deputy governor Michael Patra will handle the departments of monetary policy, financial markets regulation, financial markets operations, deposit and credit guarantee corporation, and economic and policy research, amongst others.

Barely months before unveiling the CBDC pilot in both retail and wholesale segments, the central bank allowed rupee settlement for international trade as a step towards internationalisation of the rupee. Banks from 18 countries have opened rupee vostro accounts since July last year, helping their importers settle payments in the rupee.

Analysts said gains in the stock market have been restricted in the past when 70% of the stocks on the NSE 500 index trade above the 200-DMA.

ICICI Bank said in an exchange filing that its board on June 29 will consider a proposal for the delisting of equity shares of ICICI Securities pursuant to a scheme of arrangement with the Bank under a special provision of the SEBI Regulations, 2021.

Markowitz was best known as the father of modern portfolio theory, which he introduced in 1952 in an article published by the Journal of Finance. He broke with traditional investment analysis by focusing on combinations of assets, rather than individual securities.

On Monday, the one-year annualised dollar-rupee forward premium rate was at 1.86% as against 1.76% a week ago. A year ago, the premium was at 4.22%. The sharp narrowing of the forward premium rates is owing to the higher quantum of rate hikes carried out by the US Federal Reserve vis-a-vis the tightening conducted by the RBI.

IRFC raised ₹1,940 crore through bonds maturing in October 2028 at a rate of 7.45% and ₹2,000 crore through bonds maturing in October 2026 at a rate of 7.41%, sources aware of the development said. The bonds are rated AAA by rating agencies Crisil, ICRA and Care.

While many businesses - driven by commercial convenience, balance of payments, and terms of global reinsurers - often prefer to deal in hard, convertible currencies, New Delhi is pursuing its aim to internationalise the local currency.