Latest Stock Market News

IDBI Bank is 95% owned by Life Insurance Corp of India (LIC) and the government, but the Reserve Bank of India (RBI) has classified it as a private lender.

China will seize the time window to implement policy measures to support the economy, aiming for an improvement in growth in early 2023, state media on Wednesday quoted the cabinet as saying.

The falling stockpiles come as demand for heating oil is set to soar with a powerful winter storm hitting the United States, expected to bring sub-zero wind chills as far south as Texas and record-breaking lows to Florida and the eastern states.

Currently, it is in a short-term correction. The stock can find support near the 31 level. Long-term investors should keep holding their positions as long as it sustains above the major support level placed around Rs 22. On the higher side, 36 and then 44 levels can be seen.

With this, secured lenders of both the assets, which include Punjab National Bank, Union Bank, Indian Overseas Bank, Deutsche Bank, JP Morgan and L&T Infra Credit, with combined debt of over Rs 630 crore, will get 100 per cent recovery through restructuring of their debt under Invit. Besides, group creditors (IFIN, ITNL, IL&FS) will receive Invit units as settlement of their dues, which will subsequently be transferred to the lenders of the group creditors as a resolution of their debt.

External members believe that the worsening economic conditions, influenced by the global slowdown and past rate increases since early summer, require the MPC to pause and assess conditions before continuing on the path of further rate tightening, minutes of the last MPC show.

Hinduja Group made the second-highest offer, of Rs 8,110 crore, for the core investment company that houses 20 financial services entities, ranging from insurance to broking, the people said.

Global companies have begun looking at India as a viable alternative to traditional low-cost destinations. That offers ample opportunities for investors.

"Banks had taken board approvals to raise capital this fiscal and they are now tanking up as the busy season approaches. This is probably the last tranche of Tier 1 issues by public sector banks for this fiscal and this keeps them ready for the likely increase in loan demand in the fourth quarter," said a banker aware of the transactions.

Through the sale the entities are looking at raising close to Rs 650 crore.