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Atlanta Electricals made a strong market debut, listing at a 14% premium over its IPO price, aligning with grey market predictions. The Rs 687 crore IPO, priced at the upper end, was heavily oversubscribed. Analysts are cautiously positive, viewing the company as a potential long-term investment due to its strong order book and position in India's growing power sector.
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News and Media
Oil prices fell as Iraq's Kurdistan region restarted crude exports via Turkey. This adds to global supplies. OPEC+ also plans another oil output hike in November. Brent and WTI crude futures slipped one percent. This follows price increases last week. Ukraine's drone attacks had cut Russia's fuel exports.
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News and Media
Asian markets opened cautiously Monday as investors eyed a potential U.S. government shutdown, which could delay key economic data and marginally impact the Fed's October rate cut decision. Despite this, S&P 500 futures rose, while gold neared a record high and oil prices slipped on increased supply.
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News and Media
Microfinance business is significantly impacting small finance banks like ESAF, Suryoday, and Utkarsh, with nearly a fifth of their microloan books under severe stress. This deterioration in asset quality, driven by high unsecured microloans, is weighing heavily on their profitability and has led to rating downgrades and losses for some.
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News and Media
India's central bank has set a September 30 deadline for Tata Sons, the holding company of the Tata Group, to list publicly. Classified as an upper-layer shadow bank, Tata Sons faces this mandate under new RBI regulations for large NBFCs. The group, however, argues it's not ready and has sought deregistration, creating a significant regulatory face-off.
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News and Media
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