Mumbai: Vedanta Resources Finance II, a subsidiary of Vedanta Resources, raised $300 million by tapping its existing $900-million bonds at 9.998%. The fund-raise happened within the initial price guidance of 10.07%. The funds will be used to partially refinance $606 million of its outstanding 13.875% notes due in 2028, people aware of the development said. … Read more
Economists raised their full-year projections for India’s economy sharply after data on Thursday showed growth outperformed last quarter, fueled by a manufacturing boom. Barclays Plc and Citigroup Inc. predict the economy will now expand 6.7% in the fiscal year ending in March, up from previous forecasts of 6.3% and 6.2%, respectively. Several other analysts also … Read more
The pent-up demand fuelled by pandemic time savings is beginning to peter out for goods, but may last for some more time for services, say economists. Overall consumer demand is also expected to come under pressure from tighter monetary conditions and lesser pull from rural India. However, high-end consumption is expected to provide some support. … Read more
Mumbai: Delhi International Airport (DIAL) has raised ₹1,200 crore through bonds maturing in April 2030 at a rate of interest of 9.75%, sources aware of the development said. ICICI Bank, Barclays and HSBC were the arrangers for the issue, the sources said. In September 2022, ET reported that GMR Airports, which operates the Delhi and … Read more
Mumbai: The Reserve Bank will opt for a larger, 0.50 per cent, hike in key rates at its next monetary policy review in June to protect medium term economic stability in face of the uncomfortable inflation situation, a British brokerage said on Thursday. The central bank will likely revise its inflation estimate to 6.2-6.5 per … Read more
The Reserve Bank of India is “in a bind”, given the present situation of inflation heating to above the mandated band and weakening growth, a British brokerage said on Tuesday. The central bank may hike the repo rate only by the first quarter of next fiscal (April-June 2022) and continue to maintain the accommodative stance … Read more
Blaming the slow pace of vaccinations and uncertainty around the number of those infected and dead in the second COVID-19 wave, global brokerage firm Barclays cut India’s FY22 GDP growth estimate to 10 per cent from earlier 11 per cent. If the ongoing localised lockdowns continue till June, it will lead to economic losses of … Read more
Following are five big themes likely to dominate thinking of investors and traders in the coming week. GONG HEI FAT CHOY!It’s the Lunar Year of the Ox. Since the same Chinese character can be used to denote a bull, some investors might see that as a good omen for world markets. Higher bond yields could … Read more
By David Randall NEW YORK: U.S. small caps joined in the broad market rally in the days after Election Day as investors priced in the likelihood of a divided Washington with Democrat Joe Biden president and Republicans maintaining their Senate majority. Yet some investors and analysts warned that smaller companies may lose steam as the … Read more
By Silla Brush The global financial industry is under the spotlight again after a cache of leaked documents show years of transactions handled by the world’s largest banks linked to money laundering, corruption and fraud. The report dubbed the FinCEN files, released by the International Consortium of Investigative Journalists and based on leaked documents obtained … Read more