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U.S. and Chinese officials convened in Madrid for six hours, addressing critical issues like TikTok's future, existing tariffs, and broader economic concerns. Treasury Secretary Scott Bessent indicated progress on TikTok divestment but highlighted challenges in other areas due to China's "aggressive ask." Experts remain skeptical of a major breakthrough, anticipating a possible extension for TikTok's U.S. operations divestment deadline.
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News and Media
Muthoot Finance, Indias largest gold loan NBFC, has raised USD 600 million through an international bond issuance under its External Commercial Borrowing (ECB) programme. The proceeds will fund lending activities, allowing the company to extend more credit across India. The issuance saw strong global participation, highlighting investor confidence in Muthoot Finances growth strategy and fundamentals.
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News and Media
Eternal (formerly Zomato) emerged as mutual funds' top pick in August, attracting 7,200 crore, surpassing giants like Infosys and HDFC Bank. Several AMCs, including Aditya Birla Sun Life and Axis Mutual Fund, significantly added the stock, while SBI Mutual Fund reduced its holdings. Overall, equity mutual funds decreased cash balances, deploying funds into opportunities like Eternal's Ant Block deal.
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News and Media
Jaiprakash Toshniwal of LIC MF Asset Management sees a positive turn for Indian stocks. Festive demand and a resilient economy are key factors. He favors IT, banking, and retail NBFCs. He advises caution on overvalued staples. He notes improved conditions in the metals sector. Domestic factors and steady foreign investment should support markets.
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News and Media
SEBIs board didnt announce changes to derivative contracts but plans to release a consultation paper soon. Potential tweaks, such as altering expiries or contract sizes, could impact exchange earnings, especially for BSE, according to a Nuvama report.
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News and Media
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