Can HDFC AMC make it Back to The MSCI Index After Abrdn Stake Sale?

Abrdn’s clean-up block trade of a 10.2 percent stake in HDFC AMC will increase the company’s free float market capitalisation but the stock has to rally over 10 percent from the current level to make it back to the MSCI index. “As per the latest global market cap cut-off, HDFC AMC needs to move above Rs 2,220 levels before the cut-off date in July to make a re-entry in MSCI Standard Index in the forthcoming…

"Can HDFC AMC make it Back to The MSCI Index After Abrdn Stake Sale?"

Global banks raise forecast to 4% peak for key ECB rate

Goldman Sachs (NYSE:GS), BNP Paribas (OTC:BNPQY), Uncredited (BIT:CRDI) and RBC Capital Markets had earlier expected the ECB’s terminal rate to peak at 3.75%, following a 25 basis points (bps) hike in July, they said in notes after the central bank meeting. The ECB raised euro zone borrowing costs to their highest level in 22 years on Thursday and said stubbornly high inflation all but guaranteed another move next month and likely beyond that too. “The…

"Global banks raise forecast to 4% peak for key ECB rate"

Japan Foreign Reserves Fall For Third Month After Intervention

Japan’s foreign reserves extended declines in October, following the previous month’s record drop, the Ministry of Finance said on Tuesday, reflecting the largest ever amount of yen-buying, dollar-selling interventionThe data comes alongside separate figures that confirmed Japan did not conduct stealth intervention in September and only entered the market to buy yen for U.S. dollars on Sept. 22 as announced, its first foray into the market to prop up the Japanese currency since 1998 Market…

"Japan Foreign Reserves Fall For Third Month After Intervention"

Canara Bank plans to invest Rs 1,000 crore in digital banking infrastructure

Canara Bank, a public sector lender, wants to invest Rs 1,000 crore in a digital banking ecosystem, including a super-app, over the next three years. Next month, the Bengaluru-based bank will reveal its super app (which has yet to be named). According to K Satyanarayana Raju, managing director of Canara Bank, this would entail upgrading the mobile banking platform with 262 features that mimic branch banking. The super-app is now under beta testing to get…

"Canara Bank plans to invest Rs 1,000 crore in digital banking infrastructure"