Unpaid obligations: NAV of debt mutual funds falls due to interest delays by DHFL

Mutual funds have invested around Rs 4,423 crore across 135 debt schemes in instruments issued by DHFL

DHFL, debt mutual funds, NAV, Tata MF, BNP Paribas MF, Reserve Bank of India, Aditya Birla Sun Life, Reliance Low Duration Fund News

DHFL commercial paper downgraded to ‘default’ by Icra, Crisil

Crisil, in a note, said the downgrade to 'default' or 'D' reflects delays in debt servicing by DHFL on some of its non-convertible debentures (NCDs) because of inadequate liquidity. The payments were

Markets News

Wipro ADS holders need to become direct shareholders to participate in buyback

IT major Wipro Wednesday said its ADS holders can participate in Rs 10,500 crore-buyback programme by becoming a direct shareholders prior to the record date of June 21.

Markets News

Asia markets climb as Fed signals possible rate cut

Asian markets largely rose Wednesday, tracking rallies on Wall Street after the US Federal Reserve chief indicated greater openness to lowering interest rates and acknowledged the impact of trade tens

Markets News

How DHFL’s delay in bond repayment of over Rs 900 crore may impact mutual fund investors

With Dewan Housing Finance Corporation (DHFL) delaying repayment of debt-related obligations on Tuesday of more than Rs 900 crore, it may require the mutual funds with exposure to the company’s fina

CARE Ratings downgrades DHFL debt worth Rs 1.13 lakh crore News

Dollar hovers near 7-week low as Fed officials open door for rate cut

Rate cuts by some central banks in recent weeks could potentially signal the start of a global monetary easing cycle to stave off a sharper economic downturn.

The dollar index against a basket of six peers barely budged, moving up 0.03% at 97.105 News

Oil prices drop as US stockpiles report stokes fears of glut

Oil is teetering on the edge of a bear market after falling almost 20% from a peak in late April as an aggressive U.S. trade policy stokes fears that the global economy is headed for a sharp slowdown.

The American Petroleum Institute reported U.S. crude stockpiles rose by 3.55 million barrels last week, according to people familiar with the data. (Reuters File image) News

Wall street pooh-poohs Facebook, Google `nuclear options’

“Nuclear options” such as mandated breakups of Google, Facebook or Amazon, or exposing search or feed algorithms, are “fairly low,” Baird’s Colin Sebastian wrote in a June 3 note.

Wall street pooh-poohs Facebook, Google `nuclear options' News

Oil prices fall after surprise build in US inventories

Oil prices have fallen sharply on fears about slowing global demand, but won a respite on Tuesday after a global stock market rally on hopes of a cut in U.S. interest rates.

Markets News

Selling pressure: Sensex, Nifty slip from record highs ahead of RBI monetary policy

In spite of selling pressure across the board due to higher valuation of stocks, both Sensex and Nifty managed to close above the crucial 40,000 and 12,000 levels, respectively

Sensex, Nifty slip, sensex highs, RBI monetary policy, sensex Selling pressure, Nifty, RBI, Monetary Policy Committee, Shaktikanta Das, rbi policy rate, Inflation, oil News

Stock corner: Retain ‘sell’ on Timken India at revised fair value of Rs 620

While the company’s growth prospects remain strong due to pickup in industry demand and increase in localisation, we believe that profitability is not sustainable at 4QFY19 levels. Valuations are ex

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Airtel Africa to raise $750 million via IPO to reduce debt

Airtel Africa has a presence in 14 countries in Africa. As on December 31, 2018, Airtel Africa was the second largest mobile operator in Africa by number of active subscribers, according to Ovum.

Airtel Africa, Bharti Airtel, Initial Public Offering, Raghunath Mandava, ICICI Securities News

RBI Monetary Policy: Four key things to watch for rate cut transmission

The second Bi-monthly policy meeting is largely expected to deliver 25bps rate cuts amid lower CPI prints and slowdown in Q4 GDP.

The RBI had retained its "neutral" stance after the rate cut in April News

India’s May gold imports jump 49% on demand during Akshay Tritiya festival

India's gold imports in May jumped 49% from a year earlier to 116 tonnes as a correction in local prices during a key festival boosted retail demand, a government source said on Tuesday.

Commodities News

Government creating 50,000 tonne of onion buffer to curb price rise

The Centre has started creating a buffer stock of 50,000 tonne of onion to check prices in the coming months in view of drought conditions in producing states, a senior food ministry official said Tue

Commodities News

What SEBI show cause notices to HDFC MF, Kotak MF mean for FMP investors in Essel securities

After SEBI sent separate show cause notices to HDFC Mutual Fund and Kotak Mutual Fund seeking details of the terms of investments and extension of maturity of fixed maturity plan (FMP) due to Essel Gr

Markets News

SoftBank Group to book 1.2 trillion yen profit on sale of Alibaba shares

The sale dates from 2016 when SoftBank sold part of its Alibaba stake via derivatives to fund its acquisition of British chip designer ARM.

Markets News

Bharti Airtel’s Africa arm to proceed with initial public offering; looks to raise $750 million

The telecom company looks to raise $750 million which it will deploy in reducing the debts.

IPO News

Share market HIGHLIGHTS: Sensex slides 184 points; Nifty ends below 12,050 mark; Yes Bank gains around 3%

The Indian headline indices- Sensex and Nifty ended lower on Tuesday ahead of RBI monetary policy meet on June 6. While Sensex fell 184 points, Nifty ended at 12,021 level. Yesterday, both Sensex, Nif

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Gold holds near 3-month peak as trade fears boost safe-haven demand

Gold prices rose on Tuesday, holding near a more than three-month high hit in the previous session, as worries over a global recession due to trade conflicts drove investors to find refuge in safe-hav

Spot gold was up 0.1% at $1,326.49 per ounce by 0136 GMT, after touching its highest since Feb. 27 at $1,327.90 on Monday. News

Asian shares edge up but growth worries cap gains

Investor focus has shifted to monetary policy this week with Australia's central bank all but certain to cut interest rates to a fresh low at its meeting on Tuesday and India also tipped to ease on Th

But Japan's Nikkei gave up early gains to turn down 0.29%. (Representative image) News

Oil prices fall amid economic slowdown, despite ongoing OPEC supply cuts

Crude oil futures are now around 20% below their 2018 peaks reached in late April.

U.S. West Texas Intermediate (WTI) crude futures were at $52.94 per barrel, down 31 cents, or 0.6%. News

Dollar on defensive as US bonds surge on Fed rate cut prospects

The dollar traded little changed at 108.045 yen after brushing 107.885 overnight, its lowest since early January.

The dollar index against a basket of six major currencies was steady at 97.220 after shedding 0.6% the previous day. News

RBI rate cut hopes push Sensex above 40,000

Yield on benchmark govt bond hits lowest level seen since Nov 2017

Reserve Bank of India, RBI rate cut Sensex, prices of crude oil, BSE Sensex, Nifty trends, FDI, foreign investors News

Mahindra shares worth Rs 1,424 crore picked up Canada’s CDPQ

CDPQ bought another 27.84 lakh shares of M&M at the same price from M&M Employees Welfare funds, according to the BSE. Shares of M&M ended Monday’s trading session up 1.05%, at `653.90 a piece.

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Stock corner: ‘Hold’ Grindwell Norton with revised target price of Rs 569

GWN is well placed structurally over the long term bolstered by market leadership and robust product portfolio.

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Stock corner: ‘Reduce’ PNB, Q4 shows bank still in weak terrain

Management continues to focus on recoveries, sale of non-core assets and conservation of capital. We, however, believe a weak earnings profile, structural operational issues and a diluted franchise (C

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