Page 45 - Rec News Today

“We are a Government of India company and getting navratna status is the Government of Indias process. We are meeting all the criteria and I believe that the recent meeting was quite satisfactory. Since it is the Government of Indias internal process and decision, I will not divulge what we have discussed there. We are hopeful that the process will get completed soon”.

Shriram Finance, which has a market cap of Rs 75,215.33 crore, has surged nearly 50% over the last 12 months as against the 23% drop seen in UPL share price during this period. In the meantime, the returns by Nifty have been 13%

Investor confidence is often bolstered when a stock is widely held across various mutual fund schemes

Adani Power had offered Rs 3,650 crore, as reported by ET on November 2. The unsolicited offers are made almost 10-11 months after 95% of lenders voted for a plan by the Power Finance Corp (PFC) led consortium.

This marks RECs sixth line of credit under the Indo-German Development Cooperation and demonstrates the commitment to enhance the distribution infrastructure of discoms (distribution companies) in line with the Revamped Distribution Sector Scheme (RDSS) of the Government of India (GoI).

The bonds have been rated ‘AAA’ by ICRA and India Ratings

"Since corporate bond yields had not risen sharply in the rate hike cycle, going ahead, they may not go down drastically," said Shameek Ray, head of debt capital markets at ICICI Securities Primary Dealership.

Positive setup was seen in HPCL, Ambuja Cement, Eicher Motors, BPCL, ICICI Bank, IOC, GAIL, Canara Bank, REC, L&T, HDFC Bank, DLF, Bajaj Auto, Bharti Airtel, etc, among others. Since it is the beginning of the new expiry, Options data is scattered at various strike prices. On the weekly options front, the maximum Call OI is placed at 21,000 and then towards 20,700 strikes.

Indian companies are set to borrow more than $25 billion abroad this year, trumping the $19 billion raised in 2022, according to a top HSBC executive. The UK-headquartered bank has emerged as the No. 1arranger of foreign currency loans this year across league tables.

"As we look into 2024, some of the sectors which have done well in this year will continue to do well, which include names like capital goods, infrastructure, auto companies, The momentum is still there. Some sectors which should pick up next year will be financial which generally remained subdued this year, at least on the largecap side."