Tuesday, October 13
Japan's struggling Nissan is considering raising more than 1 trillion yen ($7 billion) from debt and asset sales which would include a syndicated loan guaranteed by the UK government, Bloomberg News said on Wednesday. The country's third-biggest automaker plans to issue as much as 630 billion yen worth of convertible securities and bonds, including high-yielding U.S. dollar and euro notes, Bloomberg News said, citing documents it had seen. Nissan is also considering taking out a 1 billion pound ($1.35 billion) syndicated loan guaranteed by UK Export Finance, the report said. The report said Nissan is also looking at selling part of the stakes it holds in French automaker and long-standing alliance partner Renault and in battery maker AESC Group, as well as plants in South Africa and Mexico
Amid a rebound in the dollar index, gold June futures contracts at MCX opened flat at Rs 95,230/10 grams, marginally higher by Rs 87 or 0.09% after the yellow metal settled lower in the previous trading session.However, around 11 am, the metal witnessed buying from the lower levels and was trading 0.36% higher at Rs 95,490/10 gm. This is a surge of nearly Rs 350 from its closing price on Tuesday.Meanwhile, silver July futures contracts recovered from their day’s low on Tuesday and also opened higher by Rs 566 or 0.58% at Rs 98,041/kg.On Tuesday, gold and silver settled on a weaker note in the domestic and international markets. Gold June futures contract settled at Rs 95,143 per 10 grams with a loss of 0.83% and silver July futures contract settled at Rs 97,475 per kilogram with a loss o
Anticipating a potential cyclical recovery in Aarti Industries, global brokerage firm UBS has issued a double upgrade on the stock, raising its rating from ‘sell’ to ‘buy’ and setting a target price of Rs 625. Following the upgrade, shares of Aarti Industries jumped 3.4% to hit an intraday high of Rs 494 on the BSE.The stock’s target price denotes an upside of 30.8% from its previous closing price on the BSE.The brokerage firm noted that their ‘seel’ rating was set against the backdrop of a peaking chemical cycle and risk to guidance/consensus expectations for the energy segment (n-methyl aniline, MMA). However, these factors have largely played out, with a likely bottoming of chemical cycles and a reset of MMA volume growth expectations after a sharp correction in gasoline-n
