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The Reserve Bank of India approved Power Finance Corporation to establish a wholly-owned finance subsidiary at Gujarat's GIFT City's International Financial Services Centre. This move is anticipated to broaden PFC's global reach and business prospects, as per the company's announcement. PFC operates as an infrastructure finance entity under the Ministry of Power.
The RP invited lenders to vote on whether to consider Adani's unsolicited offer since he has already filed an application with the NCLT. In the last week of December, lenders unanimously voted to consider the offer. KPMG-backed RP Saurabh Kumar Tikmani has applied to the NCLT seeking direction on holding an auction with Adani's offer as an anchor bid. The tribunal is scheduled to hear the matter on January 16.
Open interest indicates that bulls are likely to dominate the following counters. In Thursdays trading session, the following five stocks witnessed a build of fresh long positions. Let us first understand how this conclusion is reached whether the stock has seen a buildup of fresh long position or not. When the stock prices move up and open interest on the counter also moves upward, it is taken as a sign of a long buildup.
Data from the Ministry of Power showed that all current payments of gencos are up-to-date and the legacy dues of gencos have come down by 63 percent from Rs. 1.396 lakh crore to Rs. 51,268 crore in just over a year since the late payment surcharge rules were notified.
The S&P BSE 100 index will also see a dynamic shift as seven counters will change. As per IIFL, it is an active largecap benchmark. Tata Elxsi, Adani Power, Voltas, Bandhan Bank, Mphasis, Crompton Greaves Consumer Electricals and ACC are to be dropped from the index