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The March quarter tends to be the strongest for steel companies in terms of demand. Higher prices and strong demand should lift the operating profit made by steelmakers by ₹1,500-2,500 per tonne of steel sold, analysts said.

In absolute terms, unsecured loans were at ₹2.2 lakh crore between February 2022 and February 2023. This is almost double the amount banks lent to large corporates in the same period at ₹1.18 lakh crore (or 5% year-on-year) and inching closer to ₹2.49 lakh crore worth of home loans extended by commercial banks.

Initial talks on for around $100m transaction; SoftBank to sell small stake.

Infosys forecast its slowest revenue growth in six years of 4-7% for fiscal year 2024 as India’s second largest software exporter flagged “ramp downs” of client mandates amid an uncertain macro environment in its major markets of US and Europe.

Vedanta will be issuing up to 21,000 secured, unrated, unlisted, redeemable NCDs of face value ₹10 lakh each in one or more tranches, as per a stock exchange filing. Vedanta did not state the purpose for this fundraise in its note to the exchanges.

Typically, around 60% of government expenditure occurs in the first six months of a financial year. The Centre has earmarked Rs 10 lakh crore in the current fiscal for capex. Last fiscal, the government adopted a slower approach to capex spending until clarity emerged on its revenue streams, analysts said. According to analysts, it was likely that amid its large spending push, the government was currently availing of the WMA.

For instance, JPMorgan maintained its underweight rating and slashed its revenue estimate by 1% and margin by 20 basis points (bps), resulting in a 2% EPS cut for the next fiscal. Its revised price target represents a 15% downside from the current levels.

"This marks the third ESG-linked loan in our inclusive finance journey with $80 million raised so far," managing director Udaya Kumar Hebbar said.

All three major U.S. stock indexes surged more than 1%, with interest rate sensitive megacaps including Apple Inc , Microsoft Corp and Amazon.com providing the most upside muscle and pushing the tech-heavy Nasdaq up nearly 2% to its biggest one-day percentage jump in nearly a month.

The Monetary Authority of Singapore (MAS) surprised many by leaving policy unchanged, saying the tightening already underway would ensure inflation slowed sharply later this year.