Here are the top stories this evening:
India’s $3 trillion equity market cap justifies TINA tag for now: SBI Research
“Clearly, India seems to be enjoying the TINA (There Is No Alternative) factor as globally, all countries are facing the churn and India seems to the best-placed jurisdiction in terms of growth and inflation outlook in FY23,” State Bank of India’s research wing said in a note on August 30.
IDBI Bank and NSE-backed NSDL may pick 7 i-banks for 2023 IPO
NSDL (National Securities Depository Limited), the country’s first depository services firm, which is backed by key investors like IDBI Bank & NSE is likely to shortlist 7 investment banks as advisors as it prepares to launch an initial public offer in 2023, multiple industry sources with knowledge of the matter told Moneycontrol.
Rupee marks biggest gain in one year on strong foreign inflows
The rupee notched its biggest one-day gain in a year on August 30 against a wobbly dollar as local equities saw a rush of foreign investor inflows. The partially convertible rupee surged 0.6 percent to 79.45 in its best session since August 27, 2021. The currency had hit a record low of 80.12 on Monday, but closed at 79.9625.
ZEE Entertainment, Disney Star sign agreement for TV rights of ICC Men’s tournaments
Zee Entertainment Enterprises Limited (ZEEL) on August 30 announced that it has entered into a strategic agreement with Disney Star by way of which it will gain licensing of the television broadcasting rights of the International Cricket Council's (ICC) Men's and Under 19 (U-19) global events for a period of four years.
Zomato pilots inter-city food delivery, to rapidly scale new service over next few weeks
Zomato has launched a pilot of an inter-city delivery service called ‘Legends’ which will allow select users in parts of the National Capital Region to order food from restaurants in Kolkata, Hyderabad, Lucknow and other cities.
L&T sees international hydrocarbon orders picking up, but warns of supply chain disruptions
Larsen & Toubro (L&T) expects capital expenditure by the international hydrocarbon industry to pick up as global energy majors resume investments following a drop in crude oil price volatility, Subramanian Sarma, whole-time director and senior executive vice president of energy business at engineering major, told Moneycontrol in an interview.
Pakistan at a 'challenging economic juncture': IMF
Pakistan is at a "challenging economic juncture," the IMF has warned, as the country's economy has been buffeted by adverse external conditions, due to spillovers from the war in Ukraine, and domestic challenges that have resulted in uneven and unbalanced growth.Read more