MUMBAI: State Bank of India has cut rates on select deposits and reduced lending benchmarks. The move follows the 25 bps reduction in policy rate. The revised rates come into effect from Dec 15. The bank has cut the rate on its 444-day deposit from 6.6% to 6.5%.SBI has cut rates on select deposits and…
MUMBAI: The Rs 10,600-crore IPO for ICICI Prudential Mutual Fund was subscribed 72% on day 1 with the institutional investors portion subscribed nearly two times. The high net worth part was subscribed 37%, the retail portion 21% while the part reserved for shareholders of ICICI Bank was subscribed 44%. Through the bidding round, Prudential Corp…
Automakers saw a strong rise in factory dispatches to dealerships in November, indicating that consumer demand remained strong even after the festive season ended. Companies noted that cars, two-wheelers and three-wheelers recording strong double-digit growth as compared to the same period, a year earlier. Industry body SIAM said that the month turned out to be…
A California jury ordered Johnson & Johnson to pay $40 million to two women who claimed its talc-based baby powder caused their ovarian cancer. The women testified that decades of use led to major surgeries and chemotherapy. Johnson & Johnson plans to appeal, stating the verdict is aberrant and lacks evidence. A California jury on…
MUMBAI: New York-based alternative asset manager Brookfield is lining up investments worth over $1 billion (around Rs 9,000 crore) to set up a global capability centre (GCC) in Mumbai, raising its bets on India. The GCC, which will be Asia’s largest, is being developed through an agreement between Mumbai Metropolitan Region Development Authority (MMRDA) and…
NEW DELHI: Investment management firm Fidelity International has acquired a 6.3% stake in e-commerce firm Meesho, according to regulatory filings. Fidelity’s stake is valued at around Rs 3,155 crore based on the issue price of Rs 111 apiece. Meesho shares listed at over a 53% premium on Wednesday. Agencies Source link
Most US stocks rose on Friday even as artificial-intelligence names came under renewed pressure, keeping Wall Street’s benchmark indices near record highs, AP reported.The S&P 500 dipped 0.1% in early trade, retreating slightly from its all-time high, while the Dow Jones Industrial Average gained 103 points, or 0.2%. The Nasdaq composite fell 0.4% as selling…
NEW DELHI: Retail inflation inched up marginally in Nov from a record low in Oct, led by an some uptick in prices of vegetables, eggs, meat and fish, spices – prompting experts to say that it is expected to remain benign for now.Data released by the National Statistics Office (NSO) on Friday showed retail inflation,…
The Union Cabinet has approved significant reforms for the stock market and insurance sectors. The plan includes allowing 100% foreign investment in insurance, aiming to boost penetration and consumer choice. NEW DELHI: The Cabinet on Thursday cleared rewriting of laws in two critical sectors – stock markets and insurance. The plan is to allow 100%…
Rupee depreciation: Experts are of the view that this weakness may persist in the near term. (AI image) The rupee has been in a downward spiral versus the US dollar – hitting new historical lows and even crossing the 90 mark. The depreciation has been steep, and even more on a real effective basis. In…
