Shapoorji Pallonji Group plans to raise $2.5 billion next year to retire high-cost debt. The infrastructure conglomerate is contacting existing investors to gauge their repayment preferences, aiming to refinance $1.7 billion of existing debt. This move is part of a capital restructuring for group entity Goswami Infratech.Read More

ReNew Energy Global Plc has agreed in principle to an $8.15 per share cash buyout offer from a consortium of four key shareholders. This move aims to delist the company from Nasdaq, where it has underperformed since its 2021 listing.Read More

The Reserve Bank of India is expected to reject bids above 7.18% for its upcoming ₹5,000 crore sovereign green bond auction, mirroring a previous cancellation due to high yield demands. Domestic investors currently treat green bonds like regular ones, lacking a ‘greenium.’ This, coupled with limited liquidity and no specific green fund mandates, poses challenges...Read More

Aditya Birla Capital is poised for MSCI index inclusion. A recent block deal by Jomei Investments has boosted the stock’s free float. Analysts predict potential inflows of $230 million. The stock is seen as a good tactical play with room for growth. This development is expected to be a significant event for the company.Read More

Orkla India is set to launch its IPO, aiming to raise ₹1,668 crore by offering shares. The company, known for brands like MTR and Eastern, has seen revenue and profitability growth over the past three years. With a strong base in South India and significant export presence, investors with a high risk appetite may find...Read More

Tech megacaps propelled stocks to new highs, fueled by AI-driven earnings expectations. Microsoft’s OpenAI pact and Apple’s market cap milestone highlight the sector’s strength. Investors anticipate continued demand for AI infrastructure, with the “Magnificent Seven” projected to outperform the broader S&P 500 despite a slowdown in profit growth.Read More

Securities and Exchange Board of India has asked Multi Commodity Exchange of India for a detailed report. A technical glitch caused a delay of over four hours in trading on Tuesday. Brokers and traders could not log in or execute trades. MCX shifted operations to a disaster recovery site. Trading resumed later in the afternoon.Read More

September saw record spending on credit cards and a surge in new card additions. Festivals and tax cuts fueled domestic consumption. Total monthly card spends exceeded ₹2.16 lakh crore, a significant year-on-year increase. E-commerce spending was particularly strong. This trend is expected to continue into October with ongoing festive promotions and discounts.Read More

Orkla India secured Rs 500 crore from anchor investors. This precedes its Rs 1,667 crore Initial Public Offering opening on October 29. The company, known for MTR and Eastern brands, is offering shares through a complete Offer for Sale. Promoters and other shareholders are divesting stakes. Orkla India will list on November 6.Read More

Markets are holding steady ahead of the Federal Reserve’s interest rate decision on Wednesday. Investors are anticipating a 25 basis point rate cut. Recent US data on consumer confidence and private payrolls showed minimal impact on Treasury yields. Attention is also on how the Fed will consider the US government shutdown’s economic effects.Read More