Title –Monetary Policy Committee to announce rate action today
Description – In this episode, find out PNB to invest Rs 500 crore in PNB Housing Finance, also find out about HDFC Bank hiking MCLR rate
Business Term of the Day: Yield curve
All eyes will be on the Reserve Bank of India’s (RBI) policy action after it concludes their 3-day monetary policy committee (MPC) meet. Experts anticipate the central bank to raise interest rates by at least 40 basis points to tame inflationary pressures. Besides that, investors’ will eye RBI’s growth trajectory and inflation forecast for FY23-24.
Cineline India: Cineline India Ltd, which operates the multiplex chain MovieMax, on Tuesday said its promoters would subscribe to convertible warrants worth ₹35.1 crore. Following this preferential issue, the promoters’ holding in Cineline India would increase to 69.6 per cent from the current 67 per cent, a company statement said.
Indian Hotels: Indian Hotels Company Limited (IHCL) on Tuesday announced the signing of a 88-rooms Vivanta hotel in Jammu, Jammu and Kashmir. Located in the heart of the city, the existing hotel will be upgraded into the Vivanta brand post renovation, IHCL said in a statement.
Finance minister Nirmala Sitharaman urged regulators to stay ahead of the curve when dealing with digitization while emphasizing the critical role they played during the lockdown when companies were allowed to complete compliances virtually.
The private lender hiked its marginal cost of funds based lending rate (MCLR) by 35 bps across all tenures, effective June 7. HDFC Bank has hiked its MCLR by 60 bps since the off-cycle 40 bps rate hike by the Monetary Policy Committee (MPC) in early May
The government has appointed Alok Kumar Choudhary as the managing director of the state-run bank for a period of two years. Choudhary, who was deputy managing director (finance) until this appointment, had started his career at SBI as a probationary officer.
The state-run bank’s board has approved an investment of Rs 500 crore by participating in the rights issue of PNB Housing Finance. The latter is also looking to raise Rs 2,000 crore by issuing non convertible debentures (NCD) on a private placement basis.
Moving on to markets
Indian indices are likely to witness a flat start on Wednesday.
Indian investors will keep an eye on RBI’s rate hike decision likely to be announced today.
Wall Street stocks finished a roller-coaster overnight session higher, while the yen touched a fresh 20-year low against the dollar in anticipation of more US monetary tightening.
Globally, the Chinese trade data and Europe’s first quarter GDP data will be keenly watched out
That apart, oil prices remained on the boil as Brent Crude hovered above $120 per barrel, whereas, WTI Crude climbed to $119 a barrel.
Business Term of the day
A yield curve is a line that plots yields (interest rates) of bonds having equal credit quality but differing maturity dates. The slope of the yield curve gives an idea of future interest rate changes and economic activity. There are three main shapes of yield curve shapes: normal (upward sloping curve), inverted (downward sloping curve), and flat.
In this episode, find out about NCLT's order on Zee Ent, also about L&T's joint venture partnership for submarine worth Rs 43,500 crore Business Term of the Day: Production Lin ... Read more
In this episode, find out about NCLT's order on Zee Ent, also about L&T's joint venture partnership for submarine worth Rs 43,500 crore Business Term of the Day: Production Linked Scheme (PLI) Read more
In this episode, find out about Bajaj Auto seeking RBI nod for new NBFC, also about IOC's Rs 22,000 crore fund raise. Business Term of the Day: Refinance Read more
In this episode, find out about Bajaj Auto seeking RBI nod for new NBFC, also about IOC's Rs 22,000 crore fund raise. Business Term of the Day: Refinance Read more
In this episode, find out about IdeaForge Technology's stellar listing on the bourses, also about TCS training its employees on generative AI. Business Term of the Day: Currency in ... Read more
In this episode, find out about IdeaForge Technology's stellar listing on the bourses, also about TCS training its employees on generative AI. Business Term of the Day: Currency internationalisation Read more
In this episode, find out about LIC offloading 2% stake in India Cement, also about Tata AMC on increasing stake to 7% in DCB Bank. Business Term of the Day: Aircraft lease Read more
In this episode, find out about LIC offloading 2% stake in India Cement, also about Tata AMC on increasing stake to 7% in DCB Bank. Business Term of the Day: Aircraft lease Read more
In this episode, find out about CreditAccess selling 5.8% stake in CreditAccess Grameen, PowerGrid's idea to aggregate investment of Rs 388.94 crore, Natarajan Chandrasekaran's dee ... Read more
In this episode, find out about CreditAccess selling 5.8% stake in CreditAccess Grameen, PowerGrid's idea to aggregate investment of Rs 388.94 crore, Natarajan Chandrasekaran's deep concern over the TCS controversy, MCX services deal with software vendor 63 Moons Technologies and also about BPCL's plan to raise Rs 18,000 crore via rights issue. Business Term of the Day: Account Aggregator Read more
In this episode, find out about Vedanta Foxconn's plans to resubmit application to set up an electronic chip manufacturing plant, also about SBI's picking up SBI Capital's 20% stak ... Read more
In this episode, find out about Vedanta Foxconn's plans to resubmit application to set up an electronic chip manufacturing plant, also about SBI's picking up SBI Capital's 20% stake in SBI Pension Fund Business Term of the Day: Refinance. Read more
In this episode, find out about Federal Bank appointing AP Hota as the part-time chairman, also about SAT's hearing on the Zee-Sebi case Business Term of the Day: Expense of Mana ... Read more
In this episode, find out about Federal Bank appointing AP Hota as the part-time chairman, also about SAT's hearing on the Zee-Sebi case Business Term of the Day: Expense of Management. Read more
In this episode, find out about Hinduja Group’s plan to invest Rs 10,000 crore in Indusind Bank, also about Asian Paints’ acquisition of stake in White Teak Business Term of the ... Read more
In this episode, find out about Hinduja Group’s plan to invest Rs 10,000 crore in Indusind Bank, also about Asian Paints’ acquisition of stake in White Teak Business Term of the Day: Financial influencer Read more
In this episode, find out about SEBI's ban on Eros International & its promoters, also about RBI asking the PTC India Financial Services’ CEO to step down Business Term of th ... Read more
In this episode, find out about SEBI's ban on Eros International & its promoters, also about RBI asking the PTC India Financial Services’ CEO to step down Business Term of the Day: EdTech Read more
In this episode, find out about Carlyle offloading a 2.5% stake in Delhivery via a block deal, and also about TCS’s $1.1 bn deal from UK’ Nest. Business Term of the Day: Insurance ... Read more
In this episode, find out about Carlyle offloading a 2.5% stake in Delhivery via a block deal, and also about TCS’s $1.1 bn deal from UK’ Nest. Business Term of the Day: Insurance Broker Read more
