Ecbs

Stocks to Watch on March 6: TCS, LIC Housing Finance, Wipro, Zydus Lifesciences and more

On March 6, several key stocks are in focus. TCS has partnered with Vantage Towers to launch a digital service platform aimed at enhancing property owner experiences in telecom tower leasing. LIC Housing Finance plans to raise ₹1,22,500 crore in FY2025-26 through various instruments, including NCDs and ECBs, to bolster its funding capacity.

LIVE: ECBs 25bps rate hike | Mastercard's new chairman | Takeshi's Castle reboot? | Newspresso

In this edition of Newspresso, watch out for these stories; ECB raised interest rates for the 10th time in a row on Thursday to counter stubborn inflation but signalled that it is likely done tightening policy. The central bank for the 20 countries that use the euro lifted its deposit rate to 4% from 3.75%. In other news, Former State Bank of India Chairman Rajnish Kumar was appointed as chairman of Mastercard India. And onto the trends; with re-runs gaining momentum, "Takeshi’s Castle" is making a comeback on Prime Video with YouTuber and actor Bhuvan Bam, replacing the legendary commentary of Jaaved Jaaferi. Watch this edition of Newspresso with Stacy Pereira for the latest news updates across the globe.

Indian companies raise $1.34 billion from foreign markets in October; down 34% from last year, says RBI

As per RBI data, companies raised as much as $1.32 billion by way of external commercial borrowings from the automatic route

India Inc's overseas borrowing dropped by 47% to $1.75 billion in August 2020, shows RBI data

In June 2020, India Inc's borrowing from foreign markets fell by over 81 percent to $1.01 billion, while in April 2020, it plunged by 68 percent to $996.04 million.

RBI reduces mandatory hedging of overseas borrowings to 70% from 100%

A borrower has to hedge in a manner that the projected cash flows match expectations irrespective of the fluctuations in the foreign currency

Telecos hint at tariff hikes; may go on fund hunt

The final 2G auctions may have given the government a big reason to smile, but telecom companies, at their end, are not feeling as euphoric.

Essar Ports PAT up 4% to Rs 94cr

With an eye to complete existing developmental work, the company expects to double its volumes in the next 2-3 years and increase third-party cargo.

Won't be much impacted by RBI forex norms: BoB's Dhawan

Bank of Baroda‘s Ranjan Dhawan is hopeful that there will be a slow revival in the GDP growth, investment demand and NIIs going forward.

Chidambaram to meet US Treasury Secy, FIIs next month

Faced with a high current account deficit and declining forex reserves, Finance Minister P Chidambaram in his forthcoming US visit will meet FIIs in San Fransisco to woo investments.

India Inc raises $3.71 bn in July via ECB, FCCB routes

Under the automatic route, as many as 72 companies raised USD 1.39 billion through the automatic route which does not require approval from the RBI or the government, data on the RBI website showed today. Under the approval route, ten companies raised around USD 2.32 billion through ECBs/FCCBs.

RBI suspends external borrowings in Chinese Yuan

The Reserve Bank of India (RBI) on Tuesday discontinued the facility of external commercial borrowings (ECBs) in renminbi, the Chinese currency. Indian companies in the infrastructure sector were allowed to avail this fund raising route subject to a maximum of cap of USD one billion.

Urban Housing Fund norms to be finalised shortly: NHB head

The National Housing Bank (NHB), the regulator for housing finance companies in India is ramping up its efforts on affordable housing, typically priced below Rs 25 lakh. It has almost finalised the scheme for Urban Housing Fund (UHF) of Rs 2,000 crore, recently announced in the Union Budget 2013.

Indian cos raise USD 2.34 bn in February via ECBs, FCCBs

Indian companies seem to be losing their appetite for foreign funds as they mopped up just USD 2.34 billion from overseas markets in February, nearly one-third lower than the amount mopped up in the previous month.

RBI allows hotels to prepay loans through ECBs

Providing relief to hospitality sector, the Reserve Bank today allowed companies owning hotels to prepay loans out of external commercial borrowing proceeds.

Unexecuted order book currently at Rs 9500cr: ABG Shipyard

The company has just announced that they have got a repeat order from the defence ministry worth Rs 485 crore to build a cadet training vessel for the Navy. Dhananjay Datar, CFO, ABG Shipyard spoke to CNBC-TV18 regarding the repeat order and why it is prestigious."

RBI raises ceiling for external commercial borrowings

RBI on Tuesday enhanced the limit of external commercial borrowings by any individual company. Currently, a company is allowed to raise 50% of the average annual export earnings during the same time mentioned above.

High level committee on ECBs to meet tomorrow

The high level committee on External Commercial Borrowings (ECBs) will meet tomorrow to review the guidelines for this fiscal.

More measures coming to revive growth momentum, says Montek

Plan panel Deputy Chairman Montek Singh Ahluwalia has said more such measures as announced by RBI today are in the offing to revive growth momentum and boost inflow of foreign funds.

Rupee slide: Will it become a senior citizen soon?

Well, market is clearly divided on this. The Indian rupee on Friday touched a record low at 57.32 against a US dollar before closing at 57.12. This has again broached a debate over rupee sliding to 60, the age bar to become a senior citizen.

Indorama to expand spandex facility with Rs 600 cr

Indorama Industries, on Tuesday announced an investment of Rs 600 crore to expand its spandex manufacturing facility in Himachal Pradesh

Sunset clause brings new light to power sector: JSW Energy

In an interview to CNBC-TV18 NK Jain tells the cut in custom duty and reduction in imported coal duty is a welcome move for the ailing power sector. He also says that factors like hike in central excise and service tax will add some burden to the sector.