Trade Financial News

Subscribe to enjoy similar stories. Mumbai: Mumbai-based financial services group Motilal Oswal wants to exit the home finance business and has put its housing finance company on the block, three people aware of the matter said. The development comes in the backdrop of increased deal activity in the affordable housing space in the past few months, both from private equity investors and in the primary markets.

Prashanth Prakash, founding partner of Accel India, has been conferred the Padma Shri, India’s fourth-highest civilian honour, in the Trade and Industry category.

Comprehensive Economic Partnership Agreement (CEPA) are likely to get “further impetus” during commerce and industry minister Piyush Goyal’s visit to Oman this week, the government said Sunday.

Piyush Goyal’s visit to Oman this week, the government said Sunday. Goyal will visit Oman from January 27-28 for the 11th Joint Commission Meeting with Qais bin Mohammed bin Moosa al-Yousef, minister of commerce, industry and investment promotion, Oman.

U.S. interest rates and declining oil prices. The downturn was primarily driven by a sell-off in pharma, real estate, and auto stocks. The benchmark BSE Sensex lost 329.92 points or 0.43% to close at 76,190.46, while the broader Nifty 50 index closed at 23,092.20, lower by 113.15 points or 0.49%.

IPO is entirely a fresh issue of 2 crore equity shares, according to the draft red herring prospectus (DRHP). The company is planning to use Rs 289.4 crore out of the IPO proceeds for acquisition of dry bulk carriers in the supramax category in the secondary market, and further use Rs 19.5 crore for repaying debt.

Malpani Pipes and Fittings is set to launch its SME initial public offering (IPO) on January 29, 2025, with a price band of Rs 85-90 per share. The IPO aims to raise Rs 25.92 crore through the issuance of 28.80 lakh fresh shares. Specializing in the manufacturing of high-quality pipes, including HDPE, MDPE, LLDPE, and Sprinkler and Drip Pipes under the Volstar brand, Malpani Pipes serves key sectors such as irrigation, telecommunications, and infrastructure.

Bitcoin and cryptoassets in the US, have nearly cemented digital assets as a mainstream financial asset class. Emerging markets too are increasingly embracing cryptoassets to modernize their financial systems. Amid this global momentum, India finds itself at a pivotal juncture, uniquely positioned to be a significant part of, and even lead, the global digital asset economy. Despite regulatory uncertainty and the risks involved, India is today a global Web3 powerhouse, contributing around 11% of the world’s Web3 developer base and ranking as the second-largest developer market globally. Indian founders now account for 5.4% of all Web3 startups worldwide, spearheading innovation across AI, DePIN (Decentralized Physical Infrastructure Networks), and scaling solutions.

Capital markets regulator Sebi on Sunday said it has launched a digital knowledge repository, "Dharohar — Milestones in the Indian securities market", on the occasion of the country's 76th Republic Day. The securities market, known for its diverse products, participants, and institutions, has a long-standing history of organised trading over the past 150 years, Sebi said. «Dharohar has been designed to document and showcase this rich heritage and evolution of the Indian securities market,» the regulator said in a statement.

US rate cuts and geopolitical tensions bolstered the appeal of silver last year. In the key London spot market, prices tested a 12-year high of $34.8 an ounce in October and ended the year with a gain of 37 percent. Meanwhile, domestic silver futures posted an 18 percent return, the highest annual return since 2020. Gold and silver have a strong positive correlation, and it usually exhibits similar price movements. Historically, both are considered precious metals and are often influenced by similar market factors. Last year gold surged more than 27 percent due to positive fundamentals like worsening geopolitical conditions and speculation over US rate cut decisions.

While the government has scope to accelerate capital expenditure given its current underspending, a substantial increase appears unlikely in the present economic climate, says Dhiraj Relli, MD & CEO at HDFC Securities. Edited excerpts from a chat on Budget expectations, Trump presidency and investing strategy for 2025:

US banks have announced bonuses. European banks have not. Before they do, it seems they are removing some senior heads. 

Nomura's FX business is not what it was. Bloomberg reported this week that eight people have left and noted that the Japanese bank hired David Leigh from Deutsche Bank to find some replacements. 

Citigroup’s reorganization is an ongoing project, and after the announcement of the 2024 results, focus has moved on to the next stage.  Cutting out the dead wood and simplifying the management structure is one thing, but you also have to decide who is going to manage the key business units in the future.  For example, there’s currently a vacancy in the investment bank for a Global Head of M&A, which definitely needs to be filled if Citi is to take advantage of the deal boom that everyone expects.

Scott Eichel, the global head of securitized products at Barclays, is leaving his job.

Who was Felix Bauckholt, the quant trader on an allegedly expired H1B visa who died after a shoot-out at the Vermont-Canada border this week?

Banks in London are cutting jobs. But the numbers are in the 10s rather than the 100s. 

Dr Agarwals Eye Hospital would utilize the funds raised through the forthcoming Initial Public Offering for payment of debts and to meet some general corporate purposes, an official said. The city-headquartered company, backed by Temasek Holdings and TPG is proposing to raise an aggregate of Rs 3,027.26 crore through its maiden IPO to open from January 29 to 31 at a price band of Rs 382 to Rs 402 per share. The public issue would be a combination of a 'fresh issue' of up to Rs 300 crore and an Offer for Sale of up to 6.78 crore equity shares worth Rs 2,727.26 crore by promoters and other shareholders.

Realty firm Macrotech Developers on Saturday reported 88 per cent increase in consolidated net profit at Rs 944.4 crore for December quarter FY25 on higher income amid strong housing demand. Net profit of Macrotech Developers, which sells properties under Lodha brand, stood at Rs 503.3 crore in the year-ago period. Total income rose to Rs 4,146.6 crore in the third quarter of this fiscal from Rs 2,958.7 crore in the corresponding period of the preceding year, according to a regulatory filing.

Ashwini Vaishnaw, Union Minister of Railways of India shared a video capturing a breathtaking sight of the Vande Bharat, India’s most iconic train, crossing the world’s highest railway bridge, the Chenab Bridge in Jammu and Kashmir. The dream of connecting Kashmir by rail has been a long-cherished aspiration, promising to transform the region by boosting tourism, horticulture, trade, travel, and education. Now, this remarkable moment was shared on X and has taken the internet by storm.

ICICI Bank on Saturday reported that its standalone Q3 profit after tax grew by 14.8% year-on-year (YoY) to Rs 11,792 crore while net interest income (NII) increased 9.1% YoY to Rs 20,371 crore during the December quarter. Its net interest margin stood at 4.25% in Q3 FY25 compared to 4.27% in Q2 of FY25 and 4.43% in Q3 of FY24. The net NPA ratio was flat sequentially at 0.42% while provisioning coverage ratio on non-performing loans was 78.2% at December-end.