Sunday, August 16
Mumbai: Banks led by State Bank of India will reassess extending fresh funds to Vodafone Idea after the government last week approved a relief package freezing the telco’s adjusted gross revenue (AGR) dues and stretching repayment over 16 years.Bankers said the decision has altered the company's liability profile, adding that clarity on its funding needs and future business plans are crucial for considering fresh funding.Banks have been wary of lending to Vi because of its huge liabilities, majorly consisting of statutory dues including deferred spectrum payment and AGR liabilities, strained cash flows, and doubts about its ability to service new loans. “Our team will reassess (extending fresh funds) in the light of the new developments,” a senior bank executive familiar with the det
The Nifty enters the new week on a weak footing after breaking key trend supports and short term moving averages, signalling a bearish bias. Persistent selling on intraday recoveries and rise in volatility suggest downside risks toward the 25,300–25,350 zone, while sentiment is unlikely to stabilise unless the index decisively moves back above the 25,900–26,100 resistance band.SOMIL MEHTA HEAD OF ALTERNATE RESEARCH, MIRAE ASSET SHAREKHANWhere is Nifty headed? The Nifty has broken below its ascending trendline and closed under the key 20-day moving average (DMA) of 26,062 and the 40-DMA at 25,970, confirming short-term weakness. Momentum indicators have flashed a negative crossover. The index could drift toward 25,300, with a “sell on rise” strategy advisable until a decisive break
ET Intelligence Group: Tata Consultancy Services (TCS) is expected to report a modest 0.3% sequential improvement in revenue to $7,486.6 million for the December quarter amid seasonal weakness due to holidays and delayed recovery in discretionary spending by clients. It will be the fifth consecutive quarter for the country's largest IT exporter to clock below 1% sequential top-line growth in dollar terms. The company is slated to declare quarterly performance on Monday. The estimates are based on the average of the forecast by ETIG and 11 broking firms.126473267 Rupee Weakness Equirus Securities expects Tata Consultancy Services to report 1% constant currency sequential growth in revenue. "...tepid growth is largely due to seasonal softness, lower billing days in international markets and
Germany has announced a visa-free transit facility for Indian citizens passing through the country, a move aimed at easing travel and strengthening people-to-people ties between India and Germany. The announcement was made during German Chancellor Friedrich Merz’s official visit to India, where Prime Minister Narendra Modi welcomed the decision at a joint press conference. Under the new facility, Indian travellers transiting through Germany will no longer need a separate transit visa, reducing paperwork and delays during international journeys. PM Modi thanked Chancellor Merz for the step, linking it to broader cooperation between the two countries.“The comprehensive roadmap on higher education that we have developed today will give a new direction to our partnership in the field of ed
