9:50 am
FDI key to India’s aspiration to become a $5 trillion economy, says Deloitte CEO
Deloitte CEO Punit Renzen said foreign direct investment (FDI) is crucial for India to become a $5 trillion economy, noting that two of the 1,200 business leaders surveyed—the US, the UK, Japan and Singapore— The fifth addition or the first are planning. Time investment in India, a . According to PTI report good.
At the same time, it is still recognized that India is a challenging place to do business. He said that this perception is due to less awareness about government programmes, incentives and reforms, especially those which have been announced by the government now.
9:36 am
PE major Advent buys Eureka Forbes for ₹4,400 crore
The Shapoorji Pallonji Group has closed the sale process of its consumer durables business under the Eureka Forbes label by opting for a 72% stake in US private equity fund Advent International’s ₹4,400 crore offer. PTI informed of.
The sale process, which began in November 2019, will help the 156-year-old SP Group reduce its debt pile of over ₹20,000 crore, of which around ₹12,000 crore is under moratorium till 2023, and focus on major Do it. The construction and engineering business under Afcons, the report noted.
9:19 am
Indian benchmark indices opened lower on weak global cues
Indian indices opened with a fall today on weak global cues. Sensex opened down 381.20 points at 58,634.69, while Nifty opened down 141.30 points at 17,443.85.
On Friday, the 30-share BSE Sensex ended 125.27 points or 0.21% lower at 59,015.89, while the broader NSE Nifty slipped 44.35 points, or 0.25%, to 17,585.15.
9:09 am
Global trends to impact trading in domestic equity market this week
With no major domestic macroeconomic data announcement this week, equity markets will eagerly track US Fed interest rate decisions and other global trends to decide their further movement, PTI Reported citing analysts.
In addition to the US Federal Reserve, the Bank of Japan will also come out with its monetary policy on September 22, the report said, adding that the dollar index and US bond yields will play a significant role in the volatility behavior. markets like India.
The BSE benchmark jumped 710 points or 1.21% during the last week. Market benchmark Sensex jumped 59,000 points for the first time on Thursday.
9:00 am
Asia shares fall, Hong Kong at 11-month low
Asian stocks fell on Monday, ahead of a week packed with less than a dozen central bank meetings, highlighted by the Federal Reserve that it is likely to take another step towards tapering, Reuters informed of.
As concerns remain over the health of China’s economy and Beijing’s crackdown on tech firms, stocks in Hong Kong fell more than 3% to their lowest in nearly 11 months, the report said.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.4%, with a 1.5% drop in Australia, after falling 2.5% last week. Japan’s Nikkei was closed, but futures were down 400 points from Friday’s cash close.
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