Latest Stock Market News

​

In September 2022, Reliance Power entered into an indicative memorandum of understanding with Varde Partners for availing debt of up to ₹1,200 crore for the settlement and discharge and/or acquisition and restructuring of certain financial debt availed by Reliance Power. In June 2021, Varde Partners invested ₹550 crore in Reliance Infrastructure.

Bankers are anxious about the operational challenges of exchanging the ₹2,000 currency notes and are keen not to repeat the mistakes of the first few days of demonetisation in 2016. Although this time the percentage of notes being exchanged is much smaller, banks will have to deploy staff and are likely to provide a separate exchange counter for the exercise.

Axis Bank features on the buy lists of most investors seeking a slice of Indian top-draw private banking. Since Amitabh Chaudhry stepped into the corner office in 2019, the stock is up nearly 50%, although it still trails peers. In an interview with Saloni Shukla and MC Govardhana Rangan, Chaudhry says that growth triggers are in place that could make it as good as the leader. Edited excerpts:

Investor meets are considered a soft indicator of their interest in the stocks, and in many cases in the past, institutional holding rose in those stocks post the meetings.

The euro, Swiss franc and sterling are predicted to rise further versus the US currency, potentially spelling trouble for the Stoxx 600 equity index which, according to data compiled by Bloomberg, relies on North America for nearly a third of its sales.

Even if a deal is struck before the last minute, the long uncertainty could drive up borrowing costs and further destabilize already shaky financial markets. It could lead to a pullback in investment and hiring by businesses when the U.S. economy is already facing elevated risks of a recession and hamstring the financing of public works projects.

Several large global structured credit and special situations funds are among potential bidders for the distressed airline. However, it is unlikely there will be many bidders for the airline, so all efforts are being made to bring in a good strategic investor through the National Company Law Tribunal route.

​Nifty has a strong base around 18,050, which also coincides with the support zone of the short-term moving average. Its sustainability would fuel gradual recovery and help the index to retest 18,500- 18,700. In case of a breakdown, 17,850 would offer cushion.

Transworld holds a 70.44% stake in SSL. The delisting is expected to give Transworld greater operational and financial flexibility. The price for the delisting will be determined through the reverse book-building mechanism. NovaaOne Capital is the manager of the delisting process. The delisting is subject to various conditions.