Reseñas

Adani Green Energy’s 4.375% bond due Sept. 2024 declined more than 12 cents on the dollar to 66.75 cents in high-yield secondary trading, according to Trace data. One of Adani’s other green bonds fell 9 cents on the dollar, but did not yet reach distressed level.

Meta stock surged nearly 19% in after-hours trade. If gains hold on Thursday, it would set up the shares for their biggest intraday surge in a decade and added more than $75.5 billion to its existing $401 billion market capitalization.

Policymakers lifted the Fed’s target for its benchmark rate by a quarter percentage point to a range of 4.5% to 4.75%. The smaller move followed a half-point increase in December and four jumbo-sized 75 basis-point hikes prior to that.

“For investors to reclaim unclaimed shares and unpaid dividends from the Investor Education and Protection Fund Authority with ease, an integrated IT portal will be established,” said finance minister Nirmala Sitharaman in the budget speech.

Another reason for calling this budget a solid one is that there is minimum tinkering with taxes and tax rates, both direct and indirect. Despite this being the last full budget before the 2024 Lok Sabha elections, the finance minister very wisely chose not to play to the gallery.

“Due to SCRA limitations, branches of foreign banks were unable to issue p-notes from IFSC and were therefore unable to move their trading desks to IFSC,” said Suresh Swamy, partner, Price Waterhouse & Co LLP. “With this proposed change, GIFT IFSC will be able to compete with other leading financial Continue Reading

The Sensex, which fell below the 59,000-mark in the closing stages of Wednesday’s trading, ended at 59,708, up 158 points, or 0.27%, from its previous close. The index made an intraday high of 60,773.

“Given the unprecedented situation and the current market volatility the company aims to protect the interest of its investing community by returning the FPO proceeds and withdraws the completed transaction,” the company told exchanges after a board meeting Wednesday evening.

The budget has also paved the way for easier flow of collateral-free funds, lower cost of funds and timely payments to MSMEs besides easier norms for statutory audits. An infusion of ₹9,000 crore in the Credit Guarantee Fund will enable additional collateral-free guaranteed credit of ₹2 lakh crore while the Continue Reading

The finance minister has proposed to increase the agriculture credit for the next fiscal year to ₹20 lakh crore, with focus on animal husbandry, dairy and fisheries, from ₹18 lakh crore for FY23. The budget has also laid emphasis on the fisheries sector, with a new sub-scheme called the PM Continue Reading