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NHB is set to issue three-year non-convertible debentures (NCD) maturing in July 2026 with a base size of ₹500 crore with a green shoe option of ₹1,500 crore, sources aware of the development said. Bidding for the bonds will likely take place on May 24.

Mining company Vedanta has declared a 1,850% interim dividend for the financial year 2023-24, totalling Rs 6,877 crore. The dividend would be given as per law, the company said. Vedante reported poor Q4 profits, hit by declining metal prices as revenue from its core aluminium business dropped to 33% from 39% on year.

JPMorgan Chase expects to see its net interest income rise by $3bn after acquiring First Republic Bank, which was closed by regulators earlier this year. The bank now predicts its net interest income will increase to $84bn by 2023, up from a previous estimate of $81bn. The acquisition will also add $3.5 billion in integration costs to its expenses this year. JP Morgan is optimistic but warned of sources of uncertainty and challenges resulting from rising interest rates, inflation and the erosion of savings buffers by consumers. It also plans to modestly increase its number of branches.

Adani Group stocks moved sharply in Monday’s trade to rally up to 18%. ​

Benchmark equity indices in India rose for the second consecutive session, driven by strong performances from index heavyweight Reliance Industries and IT stocks. The 30-share BSE Sensex rose 234 points to settle at 61,963.68, while the Nifty surpassed the 18,300 level. Despite strong market gains, caution is advised around the important retracement resistance zone. Experts recommend buying Maruti Suzuki Futures and Infosys Futures, due to bullish indications and patterns on daily and 4-hourly time frames.

The Reserve Bank of India (RBI) has said that movements of government bond yields over recent quarters are a signal of neutral financial conditions, which could allow businesses to raise long-term debt resources more easily and benefit the Indian economy. The flat yield curve suggests inflation expectations have been re-anchored. While the near-term yields reflect slower growth in 2023-24, RBI expects a moderate 6.5% real GDP growth in 2023-24, down from the 7% rate in 2022-23. The RBI said it sounded positive for private capex decisions, as businesses look to raise long-term resources.

Wall Street is experiencing small gains and losses as a deadline looms for a deal to avoid a possible federal default. Futures for Dow and S&P rose less than 0.1%, while Federal Reserve Chair Jerome Powell hinted that interest rates may remain stable at the next meeting in June.

Morgan Stanley Investment Funds Emerging Markets Equity Fund has sold a 0.58% stake in Gland Pharma via open market transactions. The sell-off consisted of 9.6 lakh shares at a weighted average price of INR9,306.69 ($124.51). Majority promoter-owned Gland Pharma is injectables-focused and operates a business to business model. It manufacturers a range of injections, including vials, ampoules, pre-filled syringes, lyophilised vials, oncology and ophthalmic solutions. The company reported a 56% decline in Q4 profit in May 2021, dragged down by weak domestic and international sales.

The Board has also recommended dividend of Rs 4 per equity share for the financial year ended March.

Torrent Power board will consider a proposal to raise up to Rs 3,000 crore through the issuance of non-convertible debentures on a private placement basis. A meeting of the Board of Directors is scheduled to be held on Monday, May 29, 2023, to consider and approve the raising of funds by issuance of non-convertible debentures up to Rs 3,000 crore through private placement basis, a BSE filing showed