Gold Silver Reports (GSR) – India’s second largest private bank ICICI Bank Ltd. has expressed its “full faith” in chief executive Chanda Kochhar to dispel concerns that resurfaced around the sanctioning of loans to debt-laden Videocon Industries Ltd, and alleged loans to a firm founded by her husband.
Money Market
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LIC Bought 70% Of Shares In Hindustan Aeronautics’ IPO
Gold Silver Reports (GSR) – LIC Bought 70% Of Shares In Hindustan Aeronautics’ IPO — The Life Insurance Corporation of India bought more than two-thirds of the shares that were up for grabs in state-owned Hindustan Aeronautics Ltd.’s initial public offering.
Fortis Healthcare To Demerge Hospitals Business Into Manipal Hospitals
Gold Silver Reports (GSR) – Fortis Healthcare Ltd. will demerge its hospitals business into TPG-backed Manipal Hospitals and divest management control of its diagnostics business to the same entity in a two-step deal.
Indian Equity Benchmarks, Bonds and Rupee
Indian equity benchmarks, bonds and rupee rose after the government decided to cut its first half market borrowing to 48 percent of its annual borrowing plan.
The S&P BSE Sensex rose 0.4 percent or 130 points to 33,196 and the NSE nifty 50 index advanced 0.4 percent or 45 points to 10,175.
Bond Yields Drop As Government Lowers Borrowing Target
Bond Yields Drop As Government Lowers Borrowing Target — Yield on 10-year sovereign government bond fell sharply to 7.356 percent against yesterday’s close of 7.623 percent after …
Solid Gold Casts of Nelson Mandela’s Hands Sell for $10 Million in Bitcoin
It’s one of the more unusual deals in the art world. After more than a decade, an Alberta businessman has finally found a buyer for his prized collection of gold castings of Nelson Mandela’s hand. The final price? Ten million dollars — in bitcoin.
India Considers Joint Venture Between Largest Power Producer, Financiers To Buy Stressed Plants
Gold Silver Reports (GSR) – India is considering a proposal for a joint venture between the nation’s biggest electricity producer and two state-run power financiers to bid for stressed power assets, one of the largest contributors to the nation’s bad loans.