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Purvah Green, an RP Sanjiv Goenka Group company, has withdrawn its ₹5,750 crore bid for GVK Energy, citing uncertainties from the Gulf war. The decision follows a broader trend of cost rationalization and strategic reshaping due to the geopolitical situation. Adani Group had submitted the second-highest offer of ₹5,725 crore.Read More

The currency market’s carry trade strategy is seeing its best returns in three years. Rising oil prices, triggered by the Iran war, are boosting this approach. Traders are borrowing in countries with low interest rates, like Japan, and investing in economies benefiting from higher energy costs. This strategy is performing well even as other global assets face volatility.Read More

State Bank of India successfully raised ₹6,051 crore through its second Tier 2 bond issuance for the financial year. The bonds carry a coupon rate of 7.05% and have a 10-year tenor with a call option after five years. The issue attracted significant interest from 47 institutional investors, with bids received twice the base issue size.Read More

CFM Asset Reconstruction Company has acquired Punjab National Bank’s ₹514 crore loan to Gammon India for ₹140 crore. This acquisition gives CFM control over a significant portion of Gammon’s legacy non-performing asset, primarily targeting its real estate assets. The deal represents a substantial haircut for PNB, highlighting the challenges in recovering debt from EPC companies.Read More

Standard Chartered Bank has settled a case with market regulator Sebi. The bank agreed to pay Rs 57 lakh for alleged lapses as a designated depository participant for foreign portfolio investors. Sebi found failures in monitoring FPI disclosures and reporting changes in beneficial ownership. Delays in processing investor grouping updates were also noted. The settlement resolves multiple compliance issues.Read More