The regulator last year proposed to halve the minimum amount of shares large companies had to offer in their IPOs, allowing those valued at above Rs 5 lakh crore ($57 billion) after listing to sell just 2.5% of their paid-up capital. This has now been formally notified by the government
US stocks experienced a downturn on Friday, with major indices set to end the week lower amid mixed economic data and escalating Middle East conflict. Investors are now anticipating fewer Federal Reserve rate cuts this year, as rising energy costs and slowing economic growth fuel stagflation fears.
The rupee hit a fresh closing low of 92.46 against the dollar on Friday, driven by concerns over rising crude oil prices and geopolitical worries in the Middle East. Sustained foreign fund outflows and importer demand further pressured the currency, with the Reserve Bank of India intervening to slow its fall.
India is set to shelve the bids it received for a majority stake in its state-owned IDBI Bank , as the amounts were below the minimum price sought, Bloomberg News reported on Friday, citing people with knowledge of the matter.
The Reserve Bank of India injected Rs 50,000 crore into the banking system via an open market operation to manage liquidity ahead of tax payments. This move supported India's benchmark 10-year bond yield, which remained flat. The RBI has infused a total of Rs 3.50 lakh crore through OMOs this calendar year.
After a strong rally this year, U.S. consumer staples stocks are falling out of favor, with investors starting to question the high valuation as earnings prospects dim, analysts said.
The surge in energy prices triggered by the conflict in the Middle East has significantly strengthened the dollar, paradoxically undermining US President Donald Trump's economic objectives.
Radhakishan Damani sold 16 lakh shares worth ₹52 crore in Tata Motors Passenger Vehicles through a block deal with Derive Trading and Resorts Private Limited. The sale comes as the stock has plunged over 50% in a year amid weak earnings and a cyber incident impact.
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