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President Trump met with leaders from five Central Asian nations at the White House. The discussions focused on securing vital rare earth metals for American technology. This move aims to reduce reliance on China for these critical minerals. Central Asian countries expressed interest in increased trade and security cooperation with the U.S. Kazakhstan also agreed to join the Abraham Accords.
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News and Media
Digital payment firm Pine Labs aims to raise over 3,800 crore via fresh equity and an offer for sale. Despite robust revenue and transaction growth, the company posted losses primarily due to ESOP costs, though Q1FY25 saw a net profit. Investors with a higher risk appetite may find this IPO appealing for long-term prospects.
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News and Media
Adani Enterprises is set to launch its largest fundraising yet, a 25,000 crore rights issue. This will be spread over six to eight months in four tranches. The company plans to use a significant portion to repay loans from its promoters. This move will free up capital for future debt. The rights issue details are expected soon.
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News and Media
MSCI has updated its global indices. Fortis Healthcare, GE Vernova T&D India, Paytm, and Siemens Energy India are now part of the Global Standard Index. This move is expected to bring substantial investment into these stocks. Changes also affect the India Small Cap Index. Several companies will see their index weights adjusted, influencing fund movements.
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News and Media
State Bank of India and France's Amundi will sell a 10% stake in their asset management firm, SBI Funds Management. This will be done through an initial public offer. SBI will divest 6.3% and Amundi 3.7%. The IPO is expected to be completed in 2026. SBI Funds Management will be the third SBI subsidiary to list.
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News and Media
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