State Bank of India is set to raise up to 25,000 crore via a QIP, its first since 2017, aiming to boost its CET-1 capital ratio from the current 11%. Six investment banks, including Kotak and Morgan Stanley, will manage the issue, potentially Indias largest QIP to date.
India's foreign direct investment surged to $8.8 billion in April, a 22% increase year-over-year, bolstering the RBI's foreign exchange reserves. While non-resident deposit inflows slowed, overall external commercial borrowing rose significantly. Despite a drop in foreign portfolio investment, India's external sector remains resilient, with forex reserves reaching $698.95 billion in June.
Trading on Wall Street is mixed early Wednesday as a fragile truce between Israel and Iran appeared to be holding and oil prices stabilized after a two-day slide.
Reliance Infrastructure share price: Reliance Infrastructure shares surged 5% after its arm, Reliance Defence, bagged a Rs 600-crore export order from Germanys Rheinmetall, boosting global defence ties and investor sentiment. The order supports its Make in India growth plans.
Gold prices slipped Rs 300 to Rs 98,600 per 10 grams in the national capital on Wednesday due to unabated selling by stockists in line with weak global trends, according to the All India Sarafa Association.
Radhika Gupta, MD & CEO of Edelweiss Mutual Fund, suggests investors should not focus on one-year returns. She says this creates unrealistic expectations. Gupta emphasizes rolling returns for better investment decisions. Edelweiss's campaign, 'Advice Zaroori Hai', promotes investor education. Rolling returns show fund performance across market conditions. Gupta urges platforms to educate investors about long-term strategies.
