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CXMT Corp shares surged 466 percent on their Shanghai trading debut. This IPO became Asia’s largest this year, boosting the chipmaker’s valuation. The company is now China’s most valuable listed firm, surpassing a major bank. Investor interest stems from exposure to the current memory supercycle. This strong performance occurred despite recent global tech stock selloffs.
Asian equities dropped as artificial intelligence spending concerns fueled chipmaker selloffs. Crude oil extended its decline, with Brent slumping significantly on Monday. Investors await policy decisions from the Fed, Bank of Japan, and Bank of England. Earnings from megacap technology companies are also a key focus this week. Geopolitical developments and oil prices remain significant…
Tata Sons posted standalone net profit of ₹31,961 crore for the year ended March, up from ₹26,232 crore a year ago, while revenue rose 9.1% to ₹42,367 crore. The board suggested a dividend of ₹1,10,717 per share.
Indian stocks and currency surged significantly on Monday after crude oil prices collapsed. The BSE Sensex and NSE Nifty both saw substantial gains, reflecting renewed investor confidence. The Indian rupee climbed against the US dollar, nearing its all-time low from the previous week. Lower crude oil prices are beneficial for India, easing inflation and current…
Adani Energy Solutions has launched a qualified institutional placement to raise funds. The company aims to secure ₹3,500 crore through this share issuance. Proceeds will support capital expenditure and debt repayment plans. Potential acquisitions and general corporate needs are also covered. This placement offers shares at a discount to market prices.
UAE investments in India are set to significantly increase in coming months. Key sectors like artificial intelligence and logistics will see substantial growth. Sovereign wealth funds are actively exploring new opportunities within the Indian market. Bilateral trade targets are ambitious, aiming for two hundred billion dollars by 2032. This partnership focuses on mutual growth and…
India has attracted nearly $32 billion in foreign capital since the RBI announced special inflow measures on June 5, Governor Sanjay Malhotra said. FCNR(B) deposits have already exceeded the 2013 record, but strong dollar demand linked to costly oil imports and weak exporter hedging continues to keep the rupee near record lows.
Kotak Mahindra Bank plans a $600 million loan from HSBC and CTBC Bank. Bank of India also secured $600 million through a dual-tranche term loan. These foreign currency facilities aim to attract dollars into India. The funds will likely support overseas clients making FCNR (B) deposits. This move leverages a special swap facility from the…
Small and mid-sized Indian banks are ramping up FCNR(B) deposit rates to attract non-resident Indians after interest rate deregulation, offering returns above 7.4–7.5% without leverage benefits. In contrast, larger banks are focusing on structured offerings with high leverage (9–19x) but keeping base rates below 7%, leveraging their global partnerships and strong NRI relationships.
Bank of Baroda has filed a preliminary claim under its cyber insurance policy after a suspected data breach exposed nearly 1 TB of customer data on the darknet. The claim, lodged with lead insurer National Insurance Company, is currently an intimation of loss while forensic investigations continue.