Sunday, October 18
The Indian Premier League 2025 will resume on May 17, following a week-long suspension due to India-Pakistan border tensions. The tournament, which saw high-profile teams like CSK and SRH already eliminated, was abruptly halted after an air raid siren and blackout during the Punjab Kings vs Delhi Capitals clash in Dharamshala on May 8.During the match between PBKS and DC, air raid sirens sounded and the stadium was plunged into a blackout due to tensions near the India-Pakistan border. Following this, the BCCI announced a one-week pause to the tournament.On May 9, the BCCI officially paused the league, and later released a revised schedule for the final 17 matches. The league stage ends May 27, and the IPL final is scheduled for June 3. This new timeline now overlaps with England's tour of
ET Intelligence Group: The stock of Aditya Birla Capital (ABCL) has gained over 5% in the two trading sessions after the company declared its fourth quarter performance on Tuesday. The company reported double-digit assets under management and disbursement growth, lower credit cost and improving asset quality. It is expected to sustain the momentum in the coming quarters driven by improving traction in the high-margin personal and consumer loans amid falling interest rate cycle. Analysts have raised target prices by 6-9%.In the nonbanking financing (NBFC) segment, ABCL has gradually increased the share of secured loans to nearly 46% in FY25 from 44% in FY22. A higher secured book reduces the lending risk and credit cost. The size of the secured loan book increased by 33% annually during the
India's forex reserves increased by $4.5 billion to $690.62 billion for the week ending May 9, according to data by the Reserve Bank of India on Friday.Previously, India's forex reserves dropped $2.06 billion to $686.06 billion for the week ending May 2, snapping an eight-week gaining streak that had lifted reserves to a near six-month high. The forex reserves had touched an all-time high of $704.885 billion in end-September 2024. For the week ending on May 9, foreign currency assets, a major component of the reserves, increased $196 million to $581.37 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold r
Mumbai: The India-Pakistan military conflict has reignited investor interest in some of the country's largest defence companies.Shares of Cochin Shipyard, Bharat Dynamics, Mazagon Dock Shipbuilders, and Paras Defence and Space Technologies surged between 10% and 35% since April 22-when the terrorist attack in Pahalgam happened, leading to the fighting between India and Pakistan. Nifty India Defence index went up nearly 13% as investors bet that the government may look to boost defence spending again."Post the recent cross-border tension between India and Pakistan, defence stocks moved in anticipation that India will have to not only replenish its inventory of equipment but also order new ones to keep up its technological edge," said Mahesh Patil, CIO, Aditya Birla Sun Life AMC."Owing to th
Mumbai: The Reserve Bank of India's open market operations to purchase bonds on Thursday saw strong demand, with market participants offering bonds worth nearly thrice the notified amount. Bids offered for this OMO were worth ₹71,194 crore, versus the notified amount of ₹25,000 croreThe paper maturing in 2035 saw the highest bids worth ₹28,612 crore, while the paper maturing in 2032 saw the lowest bids worth ₹3,735 crore, RBI data showed. The OMO had papers maturing between 2029 and 2036. "Compared to the OMOs conducted in March, the recent auctions are better received. Market participants, while selling their bonds, are not selling aggressively and hence the discount to market price has reduced," said Rajeev Pawar, head of treasury at Ujjivan Small Finance Bank. "People seem to be
