The Economic Times

Kotak Mahindra Bank raised $650 million through its debut five-year dollar bond, pricing notes at 108 basis points over US Treasuries. Strong demand from Asian and European investors helped tighten pricing from initial guidance, with orders reaching $2.1 billion.

Sebi is preparing to unveil a consultation paper focused on the distribution of corporate bonds. This initiative aims to refine the framework governing corporate bond sales and is evaluating additional distributor categories to broaden debt market participation. With the rise of online platforms, retail investors will gain improved access to privately placed bonds, while technological advancements are set to enhance transparency and efficiency in bond investments.

Sakarni Plaster has announced an ambitious plan to invest Rs 450 crore over the next two years. This investment will focus on establishing new manufacturing facilities for gypsum boards and paints, while also expanding the capacities of existing plants to cater to rising demand. The funding will be sourced from internal accruals and bank loans, reinforcing the company's strategy to consolidate its market position in India's building materials sector.

The U.S. witnessed a notable decline in single-family homebuilding last month, primarily due to elevated mortgage rates. An increase in unsold new homes exacerbated this downturn. However, there was a slight uptick in permits for future construction of single-family homes. The overall new residential construction permits also saw an increase. The housing market continues to grapple with affordability concerns and supply constraints.

Germany's property sector demonstrated a positive trajectory in June, marked by a nearly fourteen percent rise in apartment building permits. The tally reached twenty-one thousand six hundred units, showcasing a robust recovery compared to last year's statistics. However, experts highlight an ongoing necessity for heightened construction activity to meet growing housing demands and expectations in the market.

A staggering investment of over thirteen thousand crore rupees has been earmarked for the creation of senior living communities, enabling the construction of seventy-five thousand new units. The senior living sector is witnessing rapid growth, with more strategic collaborations emerging between providers and healthcare services. This rising market is increasingly recognized as a desirable lifestyle option for older adults.

Indian equities extended losses as fading Middle East peace hopes, elevated crude prices, rising US yields and weak global cues intensified risk-off sentiment. Sensex fell 493 points and Nifty 133 points, while technical indicators pointed to further downside.

Texas Stock Exchange secured its first primary listings as Texas Capital Bancshares plans to shift two ETFs from NYSE Arca. The milestone strengthens TXSEs challenge to New Yorks dominant exchanges as it expands trading operations and prepares for IPOs.

Crude prices, rising US yields and weak global cues kept Indian equities under pressure. Analysts remain bullish on Aeroflex Industries and JG Chemical, citing strong technical setups, key support levels and potential upside targets despite near-term market risks.

Ashok Leyland's June-quarter has an unusual contradiction. The company sold 48,763 commercial vehicles, its highest-ever first-quarter volume, and revenue from operations rose 10.43% to Rs. 9,634 crore. Yet, the operating EBITDA was Rs. 970 crore, almost the same as a year earlier. The Q1 FY 27 result must, therefore, be understood not in terms of greater demand, but in terms of why the record volumes and revenue did not lead to an increase in operating earnings.

U.S. Treasury yields surged for a third day on Tuesday, with the 30-year yield reaching its highest mark since 2007. The benchmark 10-year yields also increased, getting close to their recent highs. Inflation expectations remained heightened, as shown by breakeven rates. Moreover, an ongoing global bond selloff significantly influenced rising borrowing costs across different maturities.

Mark Walter's insurance company is adjusting its investment strategy as it faces increased regulatory examination. Both the prosecutors and the SEC are delving into his business activities over concerns of potential fraud. The firm is collaborating with regulators to rectify the issues with its investments, which surfaced after subpoenas and an internal review on investment categories. Nevertheless, the company continues to maintain robust capital and liquidity.

On Tuesday morning, major indexes on Wall Street experienced a downward trend as oil prices remained high due to falling hopes for a peace agreement between the U.S. and Iran. Additionally, government bond yields lingered near multi-year highs. The Dow Jones Industrial Average registered a drop of 105.3 points at the outset, and both the S&P 500 and Nasdaq Composite followed suit with declines.

The Kerala government will lease 18.16 acres of land to Cochin Shipyard. This land will support a ship block building project with an investment of Rs 5,000 crore. The project is expected to create approximately 2,000 direct jobs and many indirect employment opportunities. The government will receive an annual lease amount of Rs 1.45 crore, totaling Rs 1.70 crore with GST.

Sebi has barred merchant banker Corporate Capital Ventures from taking new assignments for one month due to multiple compliance lapses, including failing to update IPO track records, misleading office location disclosures, and neglecting mandatory NISM certifications for key management personnel.

Four Indian private lenders are accelerating dollar bond plans before August 31. They aim to raise $1.85 billion, taking advantage of a central bank swap facility. Kotak Mahindra Bank leads this effort, setting final price guidance for its issuance. Other banks like YES Bank, IDFC First Bank, and Federal Bank are also preparing offerings. This comes after ICICI Bank and Axis Bank successfully raised over $1 billion.

Klarna has adjusted its full-year volume and revenue forecasts downwards, citing difficulties in the German market. This decision resulted in a notable decrease in the company's shares during premarket trading. Nonetheless, a surprising profit in the second quarter was reported, buoyed by growth in the U.S. market, which helped mitigate some of the adverse effects of the forecast.

Augmont Enterprises has fixed its Rs 825 crore IPO price band at Rs 750-788 per share. The issue opens August 21, featuring fresh shares, OFS and a minimum retail investment of Rs 14,972 at the upper band.

HDFC Securities retained its Buy rating on MCX with a Rs 3,600 target, citing regulatory easing, FPI participation and new bullion and metals index options. The brokerage expects these changes to boost options premiums, volumes and earnings while improving capital efficiency.

Indian government bonds saw a decline for the second consecutive day, erasing previous gains as high oil prices and the premature conclusion of a deposit scheme weighed on investor sentiment. Following the central bank's policy announcement, the benchmark bond yield rose sharply. Swap rates also jumped, indicating a negative shift in market mood. Future bond yields will be influenced by both global and local factors.

On Tuesday, yields on longer-dated euro zone bonds surged to levels not seen in years. The increasing oil prices, spurred by diminishing expectations for a quick resolution to the conflict in Iran, intensified inflation worries throughout the markets. Consequently, investors are anticipating a quarter-point interest rate hike from the ECB, while apprehensions about fiscal stability in various nations add pressure on global bonds.

Global borrowing costs are hitting multi-decade highs again as inflation fears rise. The United States has seen its 30-year Treasury yields surpassing five percent, while Japan's 10-year borrowing costs approach a peak not seen in nearly 30 years. Additionally, long-term yields in Europe have reached some of their highest levels in years, creating ripple effects in economies and financial markets around the globe.

India Exposition Mart has filed draft IPO papers with Sebi, comprising a fresh issue of up to 75 lakh shares and an offer for sale of 2.3 crore shares. The company plans to use Rs 63.8 crore for capital expenditure at India Expo Centre.

Indian equities extended losses for a sixth session as geopolitical tensions and elevated crude prices weighed on sentiment. Nifty fell 0.55% and Sensex 0.63%, while IT, PSU banks and realty stocks declined. Analysts flagged 24,300 as Niftys immediate resistance.

Non-bank lender L&T Finance is planning to open 500 gold loan branches in this financial year, increasing its network from 330 branches as of March 31, to expand its footprint in the sector that is projected to grow at a compounded annual growth rate of 30% for the next two years.The expansion follows the companys entry into the gold loan market last year through the acquisition of the gold loan business of Chandigarh-based Paul Merchants Finance Private Ltd. L&T Finance paid Rs 537 crore for th

Jefferies retained its Buy rating on Belrise Industries and raised its target price to Rs 280, citing strong automotive orders, two-wheeler demand and expanding renewable energy and aerospace businesses. The brokerage expects robust earnings growth, though customer concentration and margins remain key risks.

The Bharat International Rice Conference 2026 will showcase 200 rice varieties and 50 global cuisines. This event will be held in New Delhi from October 23 to 25. Nine experience zones will highlight rice through culture, technology, and nutrition. The conference will trace rice cultivation, consumption, and trade across generations. It will also examine rice's role in shaping global trade networks.

The Indian rupee experienced a minor decline on Tuesday, with speculation that the Reserve Bank of India intervened to bolster its position. Contributing factors included high oil prices and climbing global bond yields, which put additional stress on the currency. Concurrently, yields on Indian government bonds rose, and there was a slight dip in local stocks, shifting focus to the forthcoming minutes from the central bank's policy meeting.

Defence stocks surged up to 10% after the Defence Ministry unveiled its sixth Positive Indigenisation List covering 405 items with Rs 3,070 crore business potential. The move aims to boost domestic manufacturing, innovation and investment while reducing Indias dependence on defence imports.

India's tanker exports surged dramatically in the June quarter, soaring six times compared to previous figures. The UAE emerged as the top importer, while Singapore and various Middle Eastern nations also boosted their purchases of Indian tankers. This impressive growth reflects India's evolving shipbuilding capabilities and a notable shift towards international markets embracing Indian-built vessels.

Bitcoin hovered near $64,000 as cooling inflation, lower Treasury yields and reduced expectations of further US monetary tightening supported crypto markets. Ethereum and select altcoins also gained, though analysts cautioned the rebound remains fragile. Investors now await FOMC minutes, inflation data and labour indicators, with $64,500 emerging as key resistance.

To safeguard its local glass industry, India has enacted a minimum import price for clear float glass, directly benefiting manufacturers like Saint-Gobain. This policy, announced by the Directorate General of Foreign Trade, will restrict imports priced below thirty-four thousand rupees per tonne and will be in effect for the next year, aiming to enhance domestic production.

Tata Play and Spotify have partnered to offer a complimentary music trial. Eligible Tata Play Binge subscribers can receive four months of Spotify Premium. This collaboration aims to expand music offerings and customer reach for both companies. The service provides ad-free listening and access to millions of songs. This partnership complements Tata Play's existing television and OTT aggregation services.

Succession planning involves connected legal and tax events, not just death. Income earned before death must be reported by the deceased's representative. Income arising after death is taxable to the executor or administrator. Individual and HUF property tax treatments differ significantly based on acquisition. Proper record-keeping is essential for calculating capital gains and tax liabilities.

As private credit, venture debt and co-investments gain traction, Indias family offices and institutional investors are increasingly diversifying portfolios in search of differentiated sources of alpha.

Hindustan Copper plans significant capital investment over the next five to six years. This expansion drive includes exploration and mine revival initiatives. The company is also pursuing strategic partnerships for growth opportunities. Rising domestic copper demand fuels these ambitious expansion plans. Hindustan Copper aims to bolster India's mineral security through these efforts.

RBI faces challenges forecasting demand for banknotes as currency in circulation continues to grow at double-digit rates despite rising digital payments. Deputy Governor SC Murmu said cash remains widely used, particularly in rural areas, among low-income groups and small businesses.

Leakage in concealed plumbing lines of 1st floor bathroom led to ground floor residents facing water leakage; Maharashtra court rules housing society cannot be held responsible for leakage or repairs inside individual units

A strengthening El Nio could disrupt global supplies of cocoa, coffee and sugar through drought, heat and excessive rainfall. Forecasters see a greater than 90% chance of a very strong event, posing fresh risks to major producing regions.

Global bond yields surged on Tuesday, with US, Japanese and German government borrowing costs hitting multi-year or multi-decade highs. Rising oil prices, inflation concerns, tighter Japanese monetary policy expectations and mounting fiscal pressures added to the bond market selloff, raising concerns over higher borrowing costs worldwide.

VFS Global has unveiled Maharashtra's inaugural Model Sub-Registrar Office in Pune, aiming to revolutionize property registration. This venture includes a five-year agreement to set up sixty similar centers throughout the state. These facilities will augment current government services, providing efficiency and transparency, ultimately enhancing the overall experience for citizens in property transactions.

Three mainboard IPOs from 2026, Omnitech Engineering, SEDEMAC Mechatronics and Shadowfax Technologies, have emerged as multibaggers, gaining over 100 per cent from issue prices. With 44 mainboard debuts raising Rs 67,185.6 crore so far, analysts say sustained momentum will depend on earnings execution and broader secondary market performance.

SBI paid Rs 40.62 lakh rent to three landlords but erroneously reported entire TDS against one landlord's PAN, leading to tax dept denying Rs 2.7 lakh TDS credit as landlord only declared 1/3rd rent in ITR; Landlord fights in ITAT Agra and wins case; Know why

European shares edged lower on Tuesday as rising crude prices and euro zone bond yields heightened inflation concerns. The STOXX 600 fell 0.2%, while energy stocks gained 0.6% as Brent crude rose to $91.41 a barrel. Germanys 10-year Bund yield hit its highest level since 2011, while investors awaited the US Federal Reserves meeting minutes for interest-rate cues.

Wyoming voters head to the polls for the 2026 primary election on August 18. Key Republican races include contests for the U.S. House and Senate seats. Voters can verify polling locations and check registration status online. Wyoming law permits same-day registration for eligible citizens at polling places. Winners will advance to the general election scheduled for November 3.