Business

India’s equity valuations are trading marginally below their historical averages but continue to remain expensive compared with regional peers, raising concerns amid slowing earnings growth.The benchmark Nifty currently trades at a price-to-earnings (PE) ratio of 21.97 times, lower than its five- and 10-year averages of 24.4 and 24.8, respectively. In contrast, Hong Kong’s Hang Seng…

Infosys’ announcement of its largest-ever share buyback, valued at Rs 18,000 crore and priced at Rs 1,800 per share, has sparked investor interest. The offer, representing about 10 crore shares or 2.41% of the company’s equity, comes at a 19% premium over Thursday’s closing price of Rs 1,512 and is positioned as a “buy on…

India’s capital markets regulator Sebi on Friday approved a wide range of reforms to expand market participation, simplify processes and enhance investor protection. The decisions were taken at its board meeting, with measures spanning IPO norms, foreign investor access, mutual funds, and oversight of market intermediaries, PTI reported.Key highlights of Sebi’s decisions: Easier IPO route…

The initial public offer of app-based beauty and home services platform Urban Company Ltd witnessed massive investor participation, with the Rs 1,900-crore IPO getting subscribed 103.63 times on the final day of bidding on Friday, according to NSE data.Bids were received for 11,06,46,08,960 shares against 10,67,73,244 shares on offer. The Qualified Institutional Buyers (QIBs) category…

Russia’s central bank on Friday reduced its benchmark interest rate by one percentage point to 17%, signalling an attempt to support the economy as growth slows and government spending on the war in Ukraine drives the budget deficit higher.The bank, which had previously raised the key rate to 21% to curb inflation, acknowledged that economic…

India is set to emerge as the world’s next manufacturing powerhouse, and policy stability will be crucial to realise this potential, Maruti Suzuki India MD and CEO Hisashi Takeuchi said on Friday. Speaking at the annual convention of the Automotive Component Manufacturers Association of India (ACMA), Takeuchi highlighted the country’s unique strengths and opportunities amid…

Wall Street edged higher on Friday, heading for its best week in five, as investors priced in expectations of a Federal Reserve interest rate cut next week. The S&P 500 held steady near record levels, the Dow Jones Industrial Average fell 51 points (0.1%), and the Nasdaq composite rose 0.1% after setting all-time highs in…

Gold rate today: Gold and silver prices surged to record levels on Friday, buoyed by strong global demand and rising expectations of an interest rate cut by the US Federal Reserve next week. In the national capital, 99.9% purity gold touched Rs 1,13,800 per 10 grams, while silver crossed Rs 1,32,000 per kilogram, according to…

The Securities and Exchange Board of India (Sebi) on Friday approved a series of reforms aimed at strengthening India’s capital markets, including relaxed IPO norms for very large companies, streamlined access for foreign investors, and a revised framework for anchor investors in public issues. The decisions came during the third board meeting chaired by Sebi…

India’s foreign exchange reserves rose by $4.038 billion to $698.268 billion in the week ended September 5, driven largely by a jump in gold holdings, the Reserve Bank of India (RBI) said on Friday.Gold reserves surged $3.53 billion to $90.299 billion, PTI reported. While foreign currency assets, the largest component of the reserves, increased by…