SBI Funds Management Ltd., the asset management arm of State Bank of India (SBI), has raised ₹1,655 crore from 30 investors through a pre-IPO share sale ahead of its ₹11,692.91-crore initial public offering (IPO). According to an exchange filing by SBI, the bank has entered into share purchase agreements dated July 9 to sell 2,88,32,748…
India’s securitisation market is expected to grow to ₹2.6 lakh crore-₹2.7 lakh crore in FY2026-27, driven primarily by non-banking financial companies (NBFCs), according to ratings agency ICRA. The projected growth comes after securitisation volumes stood at around ₹2.5 lakh crore in FY2025-26, with NBFCs expected to remain the key contributors to market activity this financial…
Copper surged during a widespread rally for industrial metals, as investors ignored a new round of US strikes on Iran in favour of larger gains in riskier assets. The industrial metal erased losses earlier in the week caused by the development of the Iran crisis, rising 2.5% to end at $13,489.50 per metric tonne in…
Shares of Lenskart Solutions Ltd. are expected to be in focus on Friday, July 10, after global brokerage firm JPMorgan initiated coverage on the stock with an ‘Overweight’ rating. The brokerage has assigned a price target of ₹635 per share, implying an upside of nearly 16% from Thursday’s closing price of ₹547.10. JPMorgan believes Lenskart…
US equities saw a rise for a second straight week. This came in even as investors processed the record US listing of South Korea’s SK Hynix Inc. and rekindled tensions in Iran ahead of second-quarter reports. Gains in materials and communication services drove the 0.4% increase in the S&P 500. The Nasdaq 100 saw a…
Gold, silver prices: How precious metals moved this week amid renewed geopolitical tensions? Key factors decoded (Image source: Shutterstock/ET NOW) Gold, silver prices this week: Gold and silver rates were under pressure in the overseas markets this week as investor sentiment remained cautious amid renewed geopolitical conflict and uncertainty over the US Federal Reserve’s policy…
The Indian rupee opened 13 paise stronger against the US dollar on Friday (July 10), supported by softer crude oil prices and broad-based weakness in the US dollar. The domestic currency opened at 95.26 per US dollar, compared with Thursday’s (July 9’s) closing level of 95.39, gaining 13 paise in early trade. The rupee has…
The order has been awarded to HFCL’s overseas wholly owned subsidiary for the supply of optical fibre cable-based data centre connectivity solutions by a leading international customer. 1 Min Read Shares of HFCL Ltd. gained in early trade on Friday, July 10, after the company announced that it had secured an export order worth $51.98…
Laser Power & Infra expects to scale its annual revenue to around ₹4,000 crore over the next three years, driven by existing capacity, rising demand for power transmission infrastructure and limited additional capital expenditure. The company also plans to use a large part of its IPO proceeds to repay debt, strengthening its balance sheet and…
Global markets may remain volatile amid US-Iran developments and the Q1 FY27 earnings season. (AI Generated Image) Global equity markets have witnessed heightened volatility over the past four months, with weekends often bringing fresh statements and counter-statements related to the US-Iran conflict, according to an analysis by The Economic Times (ET). The developments have frequently…
