The Mumbai-listed metals conglomerate, Vedanta Ltd, currently undergoing a revenue stream-wise demerger, is set to raise up to Rs 5,000 crore through a private placement of debt instruments with leading mutual funds, insurers, and alternative investment funds (AIFs), according to sources familiar with the development.The company will issue secured non-convertible debentures (NCDs) in two tenures,…
Shares of Ircon International Ltd soared nearly 14 percent on Wednesday following a flurry of new project wins and optimism around infrastructure-linked capital expenditure.At 2:47 pm, Ircon’s stock was trading at Rs 220.97, up Rs 27.03 or 13.94 percent for the day. The intraday high touched Rs 221.03, marking a strong recovery amid broader market…
India’s services sector showed continued strength in May, with businesses reporting solid growth in activity, hiring, and international demand. The HSBC India Services PMI Business Activity Index edged up to 58.8 from 58.7 in April, reflecting another sharp expansion. A reading above 50 indicates growth, while anything below signals contraction. The sector’s momentum was underpinned…
NEW DELHI: Adani Airports Holdings Ltd (AAHL) Wednesday said it has raised $750 million via external commercial borrowings (ECB) from a consortium of international banks. The transaction was led by First Abu Dhabi Bank, Barclays PLC, and Standard Chartered Bank. The company says it will “use the proceeds to refinance existing debt, invest in infrastructure…
The rupee opened on a weak note at 85.69 on Wednesday and slipped further by 25 paise to hit 85.86 against the US dollar during early trading hours. The fall follows a 22 paise drop on Tuesday, when the domestic currency settled at 85.61. Currency traders attributed the rupee’s decline to ongoing outflows of foreign…
Gold price prediction: This week will remain volatile and set tone in terms of new direction in prices. (AI image) Gold price prediction today: Gold prices ended the last week down and also continued to consolidate during the entire May month below record highs touched in April. Meanwhile, spikes seen in prices in recent sessions…
NEW DELHI: The Maggi crisis, which unfolded in June 2015 and led to a nationwide ban of the popular instant noodles, was “one of the greatest challenges” of my career, said Suresh Narayanan, chairman and MD of Nestle India, said in his final letter to shareholders before his retirement on July 31.Narayanan, who took over…
PARIS: They are a study in contrast: One is an electronics goods maker, the other a footwear manufacturer. One has its base in Chennai, the other up North.But, both are focusing on ramping up at breakneck speed, hoping to cash in on overseas players seeking to tap India, not just for its domestic market but…
NEW DELHI: India’s economy is projected to grow by 6.3% in 2025-26 and 6.4% in 2026-27, the Organisation for Economic Cooperation and Development (OECD) said on Tuesday. It forecast global growth to slow to 2.9% in 2025 and 2026 due to substantial barriers to trade, tighter financial conditions, diminishing confidence, and heightened policy uncertainty.The projections…
NEW DELHI: For Airbus, IndiGo and Air India are now among the top three airline customers globally with the maximum backlog or aircraft yet to be delivered, according to the aerospace major’s EVP (sales, commercial aircraft) Benoit de Saint-Exupery. It has to deliver 916 and 344 aircraft, majority of which are narrow body, to IndiGo…
