Vedanta share price rises after Anil Agarwal says ‘$1 billion is peanuts for us’, dismisses debt concerns
Vedanta share price rose 0.53% to Rs 286.60 on Thursday after the group’s chairman Anil Agarwal assured investors that the company has enough funds to pay upcoming debt maturities worth $900 mln. The billionaire in an interview said that the group’s commodities businesses were ‘throwing off enough cash’ and expects $9 bln of profit across the group for the coming year, adding that ‘$1bn is peanuts for us.’ The statement came as a relief to investors as the shares of Vedanta have fallen over 7% in the past one month while the stock has tanked nearly 23% in the last one year. “Vedanta has less than $13 bln total debt and becoming a zero-debt company is not a distant dream, but a medium-term, achievable goal,” Anil Agarwal said.?
Divgi TorqTransfer Systems IPO share allotment: Check status online, grey market premium; listing on 14 March
Divgi TorqTransfer Systems’ Rs 412 crore IPO concluded on 3 March and was subscribed 5.44 times after receiving healthy interest from all categories of investors. The price band for the IPO has been fixed at Rs 560-590 a share. Meanwhile, the share allotment will be finalized by the company this week on Thursday, while refunds will be initiated tomorrow, 10 March. IPO investors can check their share allotment status online through either BSE website or the IPO registrar, Link Intime India’s portal. Ahead of share allotment, Divgi TorqTransfer Systems IPO shares are commanding a grey market premium of Rs 23 today, down from the GMP of Rs 70 on 5 March.
Bond yields surge, time to lock high returns; here’s how to choose debt securities, duration, allocation
Bond yields in India across categories are on the rise, making it an ideal time to foray into debt investment, according to market experts. Yields have spiked by 30-45 bps across various types of fixed-income assets over the past few months as India’s central bank hiked its repo rate, leading India’s 10-year government security yield to 7.418%, Axis MF said in a note earlier this week. There is a general consensus that the RBI is nearing its rate-hike cycle peak, therefore putting the debt market in a sweet spot, where higher yields can be locked in for better returns over a longer period.
India’s first international ETF debt fund: Features, suitability, where it invests
India’s first international ETF debt fund will soon be a reality for the Indian investors. IDFC mutual fund is launching ‘US Treasury Bond 0-1 year Fund of Fund’, an open ended FoF scheme investing in an overseas fund with US treasury securities in the 0-1 year maturity range. The NFO opens March 10, 2023 and closes on March 23, 2023.
EPF interest rate 2023: Will EPFO give higher Provident Fund interest or reduce it this year?
Employees Provident Fund (EPF) interest rate 2023: Salaried employees may not get a higher interest rate on their Provident Fund contributions in the current fiscal. They may have to wait for another year for an increased PF interest rate as it is expected to be around 8% in the current fiscal, The Financial Express?reported?today.