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 Infosys’ collaboration with Bpost, also find out about JSW Steel entering into a pact with SMS Group Business Term of the Day: Know your Customer Read more
In this episode, find out about Infosys’ collaboration with Bpost, also find out about JSW Steel entering into a pact with SMS Group Business Term of the Day: Know your Customer Read more
In this episode, find out about TCS’ tie-up with US-based C&S Wholesale Grocers, also find out about Ujjivan Small Finance Bank’s QIP Business Term of the Day: Intra-day Read more
In this episode, find out about TCS’ tie-up with US-based C&S Wholesale Grocers, also find out about Ujjivan Small Finance Bank’s QIP Business Term of the Day: Intra-day Read more
In this episode, find out about Adani’s plan to overhaul the board of ACC, Ambuja Cements and also find out about Reliance Petroleum Retail’s plan to acquire Shubhalakshmi Polyeste ... Read more
In this episode, find out about Adani’s plan to overhaul the board of ACC, Ambuja Cements and also find out about Reliance Petroleum Retail’s plan to acquire Shubhalakshmi Polyesters Business Term of the Day: Personal Guarantee Read more
In this episode, find out why Reliance Jio going is close to finalizing its contract with telecom gear maker Ericsson and what are government's plans for Vodafone Idea. Read more
In this episode, find out why Reliance Jio going is close to finalizing its contract with telecom gear maker Ericsson and what are government's plans for Vodafone Idea. Read more
In this episode, find out about Sembcorp Ind’s plan to sell entire stake in Sembcorp Energy, also find out about DreamFolks’ IPO plans Business Term of the Day: Multibagger Read more
In this episode, find out about Sembcorp Ind’s plan to sell entire stake in Sembcorp Energy, also find out about DreamFolks’ IPO plans Business Term of the Day: Multibagger Read more
In this episode, find out about Tamilnad Mercantile Bank’s IPO opens today, also find out about Mahindra Lifespace is targeting a 2.5 fold jump in annual sales bookings over next 3 ... Read more
In this episode, find out about Tamilnad Mercantile Bank’s IPO opens today, also find out about Mahindra Lifespace is targeting a 2.5 fold jump in annual sales bookings over next 3 years Business Term of the Day: NRE Deposit Read more
In this episode, find out about Aurobindo Pharma’s arm’s plans to invest Rs 300 cr for capacity expansion, also find out about Adani Enterprise’ entry into NSE Nifty50 index Busine ... Read more
In this episode, find out about Aurobindo Pharma’s arm’s plans to invest Rs 300 cr for capacity expansion, also find out about Adani Enterprise’ entry into NSE Nifty50 index Business Term of the Day: F&O expiry Read more
In this episode, find out about Indiabulls Housing Finance’ plan to issue NCDs and also find out about Dish TV Chair Jawahar Goel’s decision to step down Business Term of the Day: ... Read more
In this episode, find out about Indiabulls Housing Finance’ plan to issue NCDs and also find out about Dish TV Chair Jawahar Goel’s decision to step down Business Term of the Day: Forward Premium Read more
In this episode, find out about TMB’s IPO set to open on September 5 and also find out about India’s Q1 GDP to be released today Business Term of the Day: Business Cycle Read more
In this episode, find out about TMB’s IPO set to open on September 5 and also find out about India’s Q1 GDP to be released today Business Term of the Day: Business Cycle Read more
In this episode, find out about BPCL’s plan to scale up its renewable energy portfolio to 10 GW by 2040, and also find out about Mahindra Electric Mobility Limited (MEML)’s all-ne ... Read more
In this episode, find out about BPCL’s plan to scale up its renewable energy portfolio to 10 GW by 2040, and also find out about Mahindra Electric Mobility Limited (MEML)’s all-new cargo electric three-wheeler – Zor Grand. Business Term of the Day: Jackson Hole Economic Symposium Read more
