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Morgan Stanley has upgraded Grasim Industries to 'Overweight,' citing the paints business's scaling and improved visibility. The brokerage anticipates a 29% upside, raising the price target to 3,500. Grasim is expected to become a formidable number three player in the paints sector by FY28, with Ultratech Cement remaining a key value driver.
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News and Media
Wealth managers are offering Shapoorji Pallonji Group's $3.4 billion NCDs to high-net-worth individuals, requiring a minimum 10 crore investment in the secondary market. This move follows past volatility where smaller HNIs quickly exited positions. The current unrated tranche has less disclosure, aiming for patient capital and avoiding wide domestic HNI distribution.
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News and Media
Following the Reserve Bank of India's policy rate cut, several banks including HDFC, ICICI, IDFC First, and Kotak Mahindra have decreased fixed deposit interest rates by 10-35 basis points. Public sector banks like Canara Bank and Indian Bank have also adjusted their rates downwards. These adjustments reflect lenders' responses to the lower benchmark interest rates, impacting retail depositors.
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News and Media
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