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US Federal Reserve keeps its key interest rate unchanged at 1.75-2% and indicates that it is likely to raise rates next month as the economy remains strong.
UK manufacturing PMI was 54 in July, down from 54.3 in June.
GRT Hotels & Resorts plans to invest Rs 900 cr to open nine new hotels in the South by 2025.
NBCC (India) wins a Rs. 400 cr project to construct the India Pavilion at Dubai World Expo 2020.
SBI and Reliance Jio, which are partners in a payment bank venture, extend the same to the digital payments space.
Hindustan Copper plans a Qualified Institutional Placement (QIP) to fund Rs. 5500 cr expansion.
Cipla’s Uganda arm Cipla Quality Chemical Industries plans an IPO and a listing on the East African country’s stock exchange.
ONGC gained 3 % intraday today as company posted better numbers in the quarter ended june 2018.
Kotak Mahindra Bank to raise up to Rs 500 cr by issuing preference shares on a private placement basis.
Government / Regulatory News:
According to SEBI data, funds mobilised by Indian firms through issuance of shares to institutional investors plunged by 85% to nearly Rs 4100 cr during the first quarter of the current fiscal in comparison to the year-ago period.
India plans to delay the imposition of retaliatory duties on US goods to allow time to resolve disputes that worsened after President Donald Trump imposed tariff hikes on steel and aluminium.
RBI hikes the repo rate to 6.50%. Consequently, the reverse repo rate under the LAF stands adjusted to 6.25%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.75%.
The Monetary Policy Committee (MPC) revises its inflation forecast to 4.8% for the second half of this fiscal year from 4.7%, and projects it at 5% in April-June 2019, with risks evenly balanced.
Government’s GST collections rose to Rs 96483 cr in July from Rs 95610 cr mopped up in June.
The Cabinet approves a fresh equity issue of 15% by Hindustan Copper which will help the company raise Rs 900 cr.
ICICI Prudential Mutual Fund will revise the exit load structure of seven schemes with effect from 1st Aug. Subsequently, five schemes– ICICI Prudential Equity Savings Fund, ICICI Prudential Banking & Financial Services Fund, ICICI Prudential Infrastructure Fund, ICICI Prudential Technology Fund and ICICI Prudential FMCG Fund, an exit load of 1.00% will be charged on redemption of units within 15 days from the date of allotment.
Franklin Mutual Fund has launched NFO – Franklin India Equity Savings Fund– open ended fund. NFO opens on 03-Aug-2018 & closes on 17-Aug-2018.
IIFL Mutual Fund has appointed Anup Maheshwari as the joint CEO & C.I.O with effect from mid-August 2018.
Credit Access Grameen’s initial public offering (IPO) to open for subscription between August 8-10.
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