The private lending institution, ICICI Bank, managed to raise over Rs. 2827 crores through bond issuance on a private placement basis. ICICI Bank’s Board of Directors approved of this fundraising endeavour in April. As per the regulatory filing, the private lending institution allotted a total of 28,274 senior unsecured redeemable long-term bonds, made available in …
The Rupee crashed by 76 paise, yet again against the American Dollar on June 17 2021, Thursday. The Indian currency now settles at 74.08 amongst a much stronger US currency after the US Fed reserve signalled an interest rate hike, which was earlier than expected. INR depreciated for the eighth session in a row. Meanwhile, …
As per recent reports, Wipro – the Indian IT giant has partnered with Germany-based Aachen, an FEV firm. This partnership aims to develop software-driven vehicles. In their recent regulatory filing to the stock exchanges, Wipro stated that they have jointly set up an innovation lab. It will develop different scalable software, electronic/electrical architecture for vehicles, …
The Department of Promotion of Industry and Internal Trade (DPIIT) has indicated the government’s decision to increase Foreign Direct Investment (FDI) threshold in the Indian insurance sector to 75% from 49% (2015). This statement was a result of poor density and penetration in the country’s indisposed insurance sector. What led to this announcement? According to …
An Overview of Top NBFCs’ Strategy In the next six months or even one year, many other non-banking financial companies (NBFCs) are expected to lift stocks to access robust markets for money. NBFCs can scout for funds through a variety of paths, including initial public offers (IPOs), capital markets (QIPs) and commercial foreign bonds (ECBs). …
Overview IRDAI has permitted insurers to invest a portion of the investment in their “Fund of Funds” (FoF). FoF is a pooled fund that invests in other Alternative Investment Funds (alternative investment funds) into which some of its investment funds have already been approved by insurers. Insurers can diversify their investment to a secure and …
Retail gold prices have been seeing some sparkle in the recent past as they shot up to Rs 50,160 per 10 grams (24 carat) and Rs 46,000 per 10 grams for 22-carat gold in Mumbai on Friday. Earlier on Thursday, gold prices stood at Rs 48,534 per 10 grams, an increase of Rs 357 in …
An Overview of Gold’s Surge In Indian markets today, gold and silver prices edged higher, reflecting positive global cues. On the MCX, gold prices increased 0.24 percent to a four-month high of 48519, while silver prices increased 0.5 percent to 71,440 per kg. Gold was down 0.22 percent in the previous session, while silver was …
An Overview of Recent Rise in Oil Prices Oil rose above $64 a barrel as more signs that the US economy is quickly recovering from the pandemic outweighed concerns that reviving the Iran nuclear agreement would result in a rise in global supply. After rising 2.5 percent on Friday, West Texas Intermediate was up 0.8 …
Tesla CEO Elon Musk is no stranger to courting controversy on Twitter. On May 1 last year, he took Tesla shareholders by the storm and declared that the “Tesla stock price is too high imo”. Not surprisingly, the stock collapsed and Tesla shareholders wailed at the entrepreneur billionaire soon after. Yesterday, another of Musk’s tweets …
