Get ready to pay more for margin trading
April 3rd, 2024 06:27
Brokers' borrowing costs from NBFCs for margin funding have surged to 10-11% from 8-8.50% earlier. Industry officials ET spoke to attributed the decision to increase loan rates to brokers to two reasons. One is that the Reserve Bank of India nudged NBFCs to do so amid concerns about elevated leverage in the stock market.
Govt bond yields rise to 2-month highs
April 3rd, 2024 06:27
Yield on the 10-year benchmark government bond rose 7 basis points to settle at 7.12% on Tuesday, its highest closing level since January 31. Bond prices and yields move inversely.
AB Capital stock could double in 3 years: Macquarie
April 3rd, 2024 06:27
The price target implies an upside potential of 14.4% from Tuesday's closing. The stock hit ₹202 - the highest level since November 2017 - before closing at ₹201.05. Macquarie said the company is its top pick among NBFCs and has the potential to double in three years.
Oaktree invests Rs 1,600 crore in Sesa's bonds
April 3rd, 2024 06:27
The funds are raised by mortgaging fixed and movable assets of Vedanta and Sesa Resources. The company has also pledged its entire shares as security against loans.
Bourses give 'prior nod' for change in Reliance Securities' ownership
April 3rd, 2024 06:27
The brokerage had sought approvals from the bourses for transferring shares owned by existing promoter Reliance Capital to Aasia Enterprises LLP - a Hinduja Group entity. The approvals come in the wake of a successful bid for Reliance Capital by Hinduja group entity IndusInd International Holdings (IIHL), a promoter entity of IndusInd Bank.
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