Morgan Stanley has an overweight rating on JSW Steel with the target price at Rs 1,300. Analysts said that along with JFE’s technological expertise, JSW is looking to leverage its project execution capabilities to participate in multi-decade growth opportunities. Under a new pact between JFE and JSW, JFE will invest about Rs 15,800 crore in…
Good Morning, Asia. Here’s what’s making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas. Hashed says the crypto market is finally shifting from storytelling to structure…
PM Modi presents Russian edition of Gita to Putin (@narendramodi) NEW DELHI: Prime Minister Narendra Modi presented a copy of the Russian edition of Bhagavad Gita to Russian President Vladimir Putin after receiving him at Delhi’s Palam Airport. Sharing a picture from their interaction, PM Modi highlighted the inspirational teachings of the Gita.“Presented a copy…
MUMBAI: British American Tobacco, the second largest shareholder of ITC Hotels, is looking to sell 7% stake in the hospitality company, worth Rs 3,000 crore, on Friday. The stake-sale is part of its broader strategy to exit ITC Hotels.The maker of Dunhill and Rothmans cigarettes is looking to sell its ITC Hotels shares at Rs…
NEW DELHI: There were unprecedented disruptions at IndiGo and misery at airports across India, with about 300 IndiGo flights cancelled on Thursday. IndiGo’s problems had consequences for passengers of other airlines too at places like Pune. The airline, the DGCA said, admitted grossly under-estimating pilot requirements for its current schedule under new crew duty rules.These…
MUMBAI: The Cayman Islands, one of the biggest financing hubs for investing globally, has offered to sign memorandum of understanding (MoUs) with markets regulator Sebi and also with the regulator for India’s finance hub GIFT City. The MoUs will facilitate transparent exchange of information between the regulators, André M Ebanks, Premier, the Cayman Islands, said…
A group of former executives of Signature Bank, the crypto-friendly bank shuttered in 2023 March, announced on Thursday the launch of a new blockchain-powered, full-reserve bank aiming to offer programmable U.S. dollar payments. Dubbed N3XT, the bank operates under a Wyoming Special Purpose Depository Institution (SPDI) charter, settles payments instantly using a private blockchain system…
Ashok Vaswani, MD & CEO, Kotak Mahindra Bank MUMBAI: Kotak Bank chief executive Ashok Vaswani said large banks that sold stakes in their financial-services subsidiaries to foreign investors lost considerable long-term value, arguing that full ownership of such businesses is a strategic advantage.Speaking at a media gathering on Wed, Vaswani urged reporters to “go and…
BENGALURU: Electric motorcycle maker Ultraviolette raised $45 million in fresh growth capital from Zoho Corporation and European investment firm Lingotto as part of its ongoing series E round. The company said the funding will be used to scale production and sales of its flagship F77 electric sportbike and the new X-47 crossover, as well as…
CEO & chairman of the executive board Herman Gref with Putin (AP photo) NEW DELHI: Sberbank, Russia’s largest lender, is looking to ramp up its operations in the country, opening up to 10 branches, investing surplus rupees from bilateral currency trade in Indian govt bonds and getting Russian investors to park funds in Nifty stocks.“We…
