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 Hindustan Zinc’s plans to talk to the mines ministry to acquire Vedanta assets, also find out about Indian Oil’s clarification on the Adani Gas deal ... Read more
In this episode, find out about Hindustan Zinc’s plans to talk to the mines ministry to acquire Vedanta assets, also find out about Indian Oil’s clarification on the Adani Gas deal Business Term of the Day: Big bath Read more
In this episode, find out about the block deal in IndiGo, also find out about Vodafone Idea’s 5G rollout plans Business Term of the Day: Additional Surveillance Measure (ASM) Read more
In this episode, find out about the block deal in IndiGo, also find out about Vodafone Idea’s 5G rollout plans Business Term of the Day: Additional Surveillance Measure (ASM) Read more
In this episode, find out about Phone Pe’s latest fund raising, also find out about wholesale price inflation easing to 4.7% in January Business Term of the Day: Disinflation Read more
In this episode, find out about Phone Pe’s latest fund raising, also find out about wholesale price inflation easing to 4.7% in January Business Term of the Day: Disinflation Read more
In this episode, find out about Kotak Mahindra Bank’s move to sell stake in the general insurance business, also find out about Nissan’s plans to invest Rs 5000 cr in India Busine ... Read more
In this episode, find out about Kotak Mahindra Bank’s move to sell stake in the general insurance business, also find out about Nissan’s plans to invest Rs 5000 cr in India Business Term of the Day: Commercial Real Estate Read more
In this episode, find out about Kotak Mahindra Bank’s acquisition of Sonata Finance, also find out M&M’s plan to roll out its first EV from Telangana Business Term of the Day: ... Read more
In this episode, find out about Kotak Mahindra Bank’s acquisition of Sonata Finance, also find out M&M’s plan to roll out its first EV from Telangana Business Term of the Day: Rating outlook Read more
In this episode, find out about Bharti Airtel’s partnership with Vultr, also find out about Aditya Birla Group’s foray into premium dining Business Term of the Day: Free float Read more
In this episode, find out about Bharti Airtel’s partnership with Vultr, also find out about Aditya Birla Group’s foray into premium dining Business Term of the Day: Free float Read more
In this episode, find out about ONGC’s talks with energy giants for deep water exploration tech, also find out why Bharti Airtel’s Q3 earnings missed estimates Business Term of t ... Read more
In this episode, find out about ONGC’s talks with energy giants for deep water exploration tech, also find out why Bharti Airtel’s Q3 earnings missed estimates Business Term of the Day: Standing Deposit Facility Read more
In this episode, find out about RIL-Ashok Leyland’s move to launch India’s first hydrogen internal combustion engine powered heavy-duty truck, also find out why the government is o ... Read more
In this episode, find out about RIL-Ashok Leyland’s move to launch India’s first hydrogen internal combustion engine powered heavy-duty truck, also find out why the government is opposing Hindustan Zinc’s plan to purchase Vedanta Resources’ global zinc assets Business Term of the Day: Credit Deposit Ratio Read more
In this episode, find out about NSE’s decision to place Adani group companies under ASM framework, also find out why the government is not looking to sell additional shares in LIC ... Read more
In this episode, find out about NSE’s decision to place Adani group companies under ASM framework, also find out why the government is not looking to sell additional shares in LIC Business Term of the Day: Budget Estimate Read more
In this episode, find out about why Citigroup’s weath arm has stopped accepting Adani Group securities, also find out why the budget announcement can hit life insurance business ... Read more
In this episode, find out about why Citigroup’s weath arm has stopped accepting Adani Group securities, also find out why the budget announcement can hit life insurance business Business Term of the Day: Artificial Intelligence Read more
