30/09/2024
- Bank of Tokyo could buy a 20% stake in HDB Financial, a subsidiary of HDFC Bank. Bank of Tokyo could invest close to $ 2 billion with the total company value estimated at around $9-10 billion. Another value unlocking from HDFC Bank.
- BSE and NSE has declared a trading holiday on May 20 on account of elections.
- Pegatron in talks to hand over its only iPhone plant in India to the Tatas.
- India and China in race to transform military, bolster firepower this year. It is sometimes good to have powerful enemy like China at your border. That will keep India always ready and in that way India will continue to be future ready to handle any geopolitical crisis.
- India’s consumer price inflation likely eased to 4.91% in March.
- India’s fuel demand up by about 5% in FY24, a new financial record. Total crude oil requirement for the FY24 stood at 233.3 million tons, about 4.67 million barrels per day, up from 223.02 million tons in FY23.
- Bain Capital will sell stake in Axis Bank worth about Rs 3577 crores in a block deal.
- As Vistara scaled down operations, fares rise by up to 25% on major routes.
- Ratio of GST collections to GDP is increasing albeit at a slow pace.
- Hyundai, Kia tie up with Exide for electric vehicle battery localisation.
- US March inflation tops estimates and stood at 3.5%. So, some wait before interest rates come down. US Fed may wait until Sept before it cuts rates.
- Fitch cuts outlook on China to negative.
- Indigo has piped US based Southwest Airlines to become the third most valuable airlines company in the world. Delta Airlines with market cap of around $30.5 billion and Ryanair with a market cap of $26.94 billion are the top two ones. Indigo market cap jumped to $17.61 billion. So, a long way to go before it can beat the top two.