The Asian Development Bank's President, Masatsugu Asakawa, has revealed the bank will consider issuing bonds in the rupee denomination, which would cut forex volatility. Market conditions and the balance between supply and demand will drive the bank's decision. Multilateral funding agency the ADB has raised funds through rupee bonds before, financing projects in India
Nykaa's shares have lost 57% in value over the past year, with a 25% loss in the last six months. Competitors such as Tata Group, Reliance and Shoppers Stop now challenge Nykaa, and regulatory scrutiny over the company's bonus share issuance has further undermined investor faith. Five senior executives, including the Chief Commercial Operations Officer and the Chief Business Officer, have left Nykaa this year
A total of 6,114 shares changed hands on the counter till 10:52AM (IST)
The Nifty Auto index was trading 0.15 per cent up at 13209.45.
The stock traded at a P/E multiple of 15.73, while the price-to-book value ratio stood at 1.3.
A total of 326,478 shares changed hands on the counter till 10:41AM (IST)
Shares of Kotak Mahindra Bank fell up to 2% despite strong profit growth and highest QoQ NII growth. The decline may be attributed to investors' concern over the expected peaking of NIM in the next few months. However, brokerages hold a positive outlook on the stock with CLSA downgrading to outperform and other firms holding neutral to buy ratings with target prices ranging from Rs 1,860 to Rs 2,513. Motilal Oswal remains neutral with a target price of Rs 2,050, while Phillip Capital maintains a buy rating with a revised target price of Rs 2,200.
Turkey and Argentina are the world's largest adopters of cryptocurrencies due to soaring prices and plummeting local currencies amid high inflation. Over a quarter of the population in Turkey owns digital currencies, while around 23.5% in Argentina owns them. The most traded digital currencies in these countries are stablecoins like Tether (USDT) and USD Coin (USDC), which are pegged to the US dollar, providing a safe haven to shield people's money from the collapsing local currencies. The global ownership rate of cryptocurrencies is estimated to be 11.9%.
RBL Bank, incorporated in the year 1943, is a banking company (having a market cap of Rs 9701.01 Crore).