Friday, October 02
Tata Capital, a subsidiary of Tata Sons, is likely a step closer to launching its ₹17,200 crore initial public offering (IPO).Market regulator Securities and Exchange Board of India (Sebi) has cleared the non-banking financial company's draft papers for the public issue, which were filed through the confidential route, said two people familiar with the development.After the Sebi clears the confidential draft red herring prospectus (DRHP), the company files an updated draft publicly on the regulator's website. The company would then file the red herring prospectus (RHP) with the regulator just before the launch of the IPO.Tata Capital could file for an RHP in the first week of July, according to one of the two people quoted above. An email query to Tata Capital went unanswered until Frida
Gold prices were steady on Friday and poised for a weekly loss after U.S. President Donald Trump delayed a decision on entering the Israel-Iran conflict. Spot gold was little changed at $3,368.68 an ounce, as of 0142 p.m. EDT (1742 GMT), its lowest since June 12, while the index was down 1.8% for the week. U.S. gold futures settled 0.7% lower to $3,385.70. "Gold is holding steady as Trump backtracks on an 'imminent' attack on Iran. For the moment, it seems all the bad news is out," said Tai Wong, an independent metals trader. "A drawdown towards $3,250/oz is possible, but dips have been aggressively bought in this gold rally." Trump will decide in the next two weeks whether the United States will get involved in the Israel-Iran air war, the White House said on Thursday, raising pressure on
