Saturday, October 03
Shares of IndusInd Bank climbed as much as 3.9% on Wednesday to Rs 841 on the BSE after global brokerage Nomura upgraded the stock to a ‘buy’ and sharply raised its price target, citing improved governance, a cleaned-up balance sheet, and a stronger earnings outlook.Nomura increased its price target on the private lender by 50%, from Rs 700 to Rs 1,050, and upgraded its rating from ‘neutral’ to ‘buy’. The new target implies a potential 30% upside from Tuesday’s closing price.“The past few months have been turbulent for IndusInd Bank owing to governance failings and accounting lapses. However, the bank has undergone a significant clean-up of its books and has taken one-time provisions to address legacy issues,” Nomura said.The brokerage noted that the bank’s board is sho
Nissan Motor Co has a defined product introduction plan for India, where it intends to continue its operations, global CEO Ivan Espinosa told ET, dispelling speculation that the Japanese automaker could exit the market.“India is a very important market for Nissan and we're in India to stay,” said Espinosa. “We have a very clear roadmap of our product portfolio and also the capacity required to produce these vehicles.”Elaborating on the plans, he said, “In the next 18 to 24 months, we will have a lot of activity of product introduction for India…these vehicles will not only be for India, but they will also be exported to many, many markets around the world.”The top Nissan executive’s comments follow partner Renault SA announcing this March the acquisition of the former’s 5
Market regulator Securities and Exchange Board of India (Sebi) on Wednesday relaxed the rules around Employee Stock Options (ESOPs) for start-up founders. Founders classified as promoters who received share-based benefits at least one year before filing the Draft Red Herring Prospectus (DRHP) will now be allowed to retain or exercise these benefits post-listing, a shift from the earlier requirement to liquidate them before an IPO.Under the existing regulations, promoters are ineligible to hold or be granted share based benefits, including ESOPs and if they held such share based benefits at the time of filing of DRHP they are required to liquidate such benefits prior to the IPO.This provision has been found to be impacting founders classified as promoters at the time of filing of DRHP, the
As the Middle East slides into its most dangerous flashpoint in years, doomsayers warn that Brent prices could surge past $150 per barrel in a worst-case scenario, a geopolitical shock big enough to sever key oil routes and ignite panic across global markets. While such an outcome is far from consensus, traders are beginning to price in the tail risks as Israel–Iran tensions simmer.Brent crude held near $73 a barrel on Tuesday, up from sub-$67 levels last week, after Israeli strikes hit Iranian energy and military infrastructure. Tehran has vowed retaliation, and though ship-tanker traffic through the Strait of Hormuz remains intact, there’s growing anxiety that the conflict could spill into the waterway that carries a fifth of the world’s oil. The geopolitical premium in crude has u
India's market borrowing program has seen a stable and orderly evolution in recent years, with net borrowings remaining under control despite the country's growing economic needs.Data from a report by SBI showed that the government is actively managing its debt through various instruments while adhering to fiscal discipline under the FRBM Act.It said, "G sec borrowing trend.... Keeping the borrowings in check."As per the data, gross market borrowing through government securities (G-secs) is estimated at Rs 14.8 lakh crore in the Budget Estimates for FY26, while net borrowing is projected at Rs 11.5 lakh crore.So far in FY26, the government has raised Rs 3.2 lakh crore as gross borrowing, and Rs 2.4 lakh crore as net borrowing.In the previous financial year (FY25), gross borrowing stood at
