BUSINESS
Indiabulls Housing Finance to raise up to Rs 1,000 cr via public issue of bonds
The Tranche II Issue offers various series of NCDs for subscription with coupon rates ranging from 8.33 per cent to 9.55 per cent per annum. The Issue will open for subscription on Monday, September 5 and closes on September 22. The NCDs under the Tranche II Issue have tenures of 24 months (Series I, II, III), 36 months (Series IV, V, VI), and 60 months (Series VII, VIII).
India's foreign exchange reserves fell by $3 bn in last week of Aug
According to the Reserve Bank of India's (RBI) weekly supplementary data, the country's foreign exchange reserves fell by $3 billion to $561.046 billion in the week ending August 26, compared to $564.053 billion in the previous week. This is the fourth straight week when foreign exchange reserves have continued with their declining trend.
Morgan Stanley classifies RIL as top pick, new capex to double earnings
In its latest report Morgan Stanley said RIL's fourth investment cycle this century with capex in chemicals, 5G, retail and new energy totalling over $50 billion over the next three years will double its earnings. Further RIL's capex will increase investor confidence on the $70 billion value creation pivot in the energy business, Morgan Stanley said while moving RIL's scrip to its top pick category.
SBI to raise up to Rs 7,000 crore via Basel-III AT1 bonds
Bidding for the bonds will take place on Wednesday between 11 a.m. and 12 p.m. Non convertible Taxable Perpetual Subordinated Unsecured Basel III compliant Additional Tier 1 Bonds in the nature of debentures of face value Rs 1 Crore each. AT1 Bonds are a type of perpetual bonds that don't have any expiry date which is issued to raise long term capital.
CARE Ratings places NDTV's bank facilities on 'credit watch', shares gallop
Meanwhile, credit rating agency CARE Ratings has placed ratings assigned to NDTV's bank facilities on credit watch with developing implications following takeover decision by the Adani group. NDTV, which had postponed its 34th annual general meeting (AGM)to September 27 from the earlier fixed date of September 20, said it has completed the dispatch of notice for the shareholders meeting on September 3, 2022.
Who were the other passengers in the ill-fated Mistry crash?
Former Tata Sons chairman Cyrus Mistry on Sunday died in a road accident while he was returning from Gujarat's Udwada to Mumbai. The three other occupants in the car were -- brothers Darius and Jehangir Pandole, and Darius Pandole's wife Anahita Pandole. Darius Pandole was CEO & MD of JM Financial Private Equity and earlier was on the board of Tata companies.
Cyrus Mistry's sudden death puts spotlight on SP group's holding in Tata Sons
There were media reports in March this year that SP group was taking a Rs 15,000 crore loan against the holding in Tata Sons. SP Group had talked about separation two years back in September 2020 before the Supreme Court. The largest shareholder in the Tata Group, SP Group had said before the Supreme Court Tuesday that a separation from the Tatas is necessary.
Cyrus Mistry's body to undergo autopsy in Mumbai, Pundoles critical but stable
According to the hospital medicos, Dr Anahita Pundole is suffering from pneumothorax and hip fracture, but her blood pressure is maintained and she is under observation. Her husband Darius Pundole has suffered bilateral jaw fractures with a displaced jaw causing airways obstruction. A surgeon has pulled out the jaw with with wire fixation and cleared the airway clear and he is also stable. The injured couple is being handled by a team comprising Dr Nita Warty, Dr Karl Vazifdar, Dr Mehli Nazir and others.
India's external debt of $620bn is sustainable: Finance Ministry report
In a recent report, the Department of Economic Affairs said the country's external debt continues to be sustainable and prudently managed. "As at end-March 2022, it stood at $620.7 billion, growing by 8.2 per cent over the level a year ago. External debt as a ratio to GDP (gross domestic product) was 19.9 per cent, while reserves to external debt ratio was 97.8 per cent," the report said.
Cyrus Mistry, the young tycoon who rose to Tata Group Chairman but fell from grace
Mistry, who was the sixth Chairman of Tata Sons, succeeding Ratan Tata, was unceremoniously removed from the position in October 2016, over disagreements over running the conglomerate. He was the younger son of Pallonji Mistry, head of the Shapoorji Pallonji Group, a diversified conglomerate which had begun as a construction company started by Pallonji Mistry's grandfather in the 19th century.
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