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The company proposes to utilise the issue proceeds towards the early redemption of non-convertible debentures issued to CDC Emerging Markets and expansion. Kotak Mahindra Capital, JP Morgan India and IIFL Securities are the bankers to the issue.

India’s consumer price index (CPI), which overshot the RBI’s upper tolerance band of 6%, is fuelled by the escalating Russia-Ukraine conflict that has upset the global supply chains. The conflict and its accompanying sanctions on Russia have also posed great risks to global growth. The CPI print rose to 6.95% in March which is a 17-month high.

The main role for monetary policy through a nominal anchor such as CPI is to deliver low and stable long run inflation and IE.

Commercial papers (CPs) are shorter duration debt instruments generally issued by companies with maturities up to one year. One basis point is 0.01 percentage point.

The Dow Jones Industrial Average fell 65.4 points, or 0.19%, at the open to 34,727.38.

BofA felt that despite markets correcting since the October 2021 peak, the prevailing 1-year forward Nifty valuations at 19.2 times look elevated given global geopolitical, monetary tightening and elevated inflation backdrop.

The company reported a profit of Rs 52 crore, down 31% year-on-year, despite a 22% jump in revenues to Rs 808 crore.

The MPC minutes reflect the urgency to rein in consumer prices, but there are some hints that the rate-setters at Mint Street are not considering going all guns blazing when it comes to raising interest rates.

Adani Group flagship Adani Ports SEZ on Friday said it has agreed to acquire a 100 per cent stake in Ocean Sparkle Limited, which is a leading third party marine services provider, for Rs 1,530 crore. It is engaged in the business of port operations and marine services.

The creditors voted on Thursday in a National Company Law Tribunal (NCLT) mandated process to seek shareholders’ and creditors’ approval for a deal that has been lingering for 20-months amid opposition from Amazon. The struck down of the Reliance transaction by the creditors has now make it imminent for Future Group to go into bankruptcy, experts said.