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Reliance and Apollo have been in dialogue with global banks and financial institutions to stitch together funding for what would arguably be its largest cross-border acquisition till date.

Rates on T-bills have shot up nearly 130 basis points since before the off-cycle rate hike in early May, but benchmark bond yields have risen just over 30 basis points, leading to expectation that corporate capital expenditure may not have to bear the higher cost of funds.

Sales shrunk across categories in May led by commodities like edible oil and packaged atta which fell 32% followed by home care and confectionery which declined by 10% respectively.

The deal values the remaining 64.2% stake of Greaves Cotton in GEM at Rs 2,398 crore. It forms two-third of Greaves Cotton’s market capitalization of Rs 3700 crore a day before the deal announcement.

The RBI has been vehemently opposed to cryptocurrencies like Bitcoin, saying there is no underlying value for such instruments which are essentially speculative in nature. It has gone public with the same, even as the government has yet to make its stance clear.

IIFL Securities has set a target price of Rs 442, meaning a potential downside of over 22 per cent for the stock. In comparison, Credit Suisse, which sees a strong moat in terms of scale, has a target price of Rs 675.

Microsoft, which gets about half its revenue from outside the United States, lowered its revenue forecast for all three segments, including Windows products, cloud and personal computing.

Though it stayed sideways during the last half hour of the session, but largely maintained the gains. The headline index closed with a net gain of 105.25 points (+0.64%).

The U.S. central bank has raised interest rates by three quarters of a percentage point this year, and most Fed policymakers back raising interest rates another half of a percentage point at each of their next two meetings.

Sandberg, 52, has been one of the most influential women in Silicon Valley and her departure comes as the social media juggernaut faces an uncertain future and fierce competition.