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397 stories mentioning BSE SensexUpdated 1d ago

Trading amid India's rising May trade flows and projections of large REIT/InvIT inflows by 2030; imports rose 19% and exports 15.8%.

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Asia

Market Chatter: Managed Workspace Firm Tablespace Plans Up to $350 Million India IPO

Indian managed workspace provider Tablespace Technologies is set to file draft papers for an initial public offering by early August in a deal that could raise up to $350 million, Bloomberg News reported, citing people familiar with the matter.The proposed listing is expected to include a fresh issue of shares worth up to 10 billion rupees, along with an offer for sale by existing shareholders, the report said.Axis Capital, IIFL Capital Services, BofA Securities and CLSA are advising on the offering, according to Bloomberg.Tablespace did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

Asia Week Ahead: U.S. Interest Rate Decision, Japan's Data Deluge, Industrial Output

Several key data releases are scheduled this week, with a decision by the U.S. Federal Reserve on Wednesday regarding interest rates taking center stage.The economic release calendar will gain momentum as the week progresses.Following business and consumer confidence survey reports, industrial and production data, and import and export prices, the bulk of economic disclosures will be released Friday.Japan is set to announce an interest rate decision at the end of the week. The week ahead also features the usual end-of-month data deluge from Japan that could provide insights into its economic health and potential monetary policy direction.MONDAY, July 27The Monetary Authority of Singapore (MAS) tightened monetary policy for a second straight review, slightly raising the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band.Meanwhile, the city-state's manufacturing output rose 7.2% year over year in June, slowing from a revised 17.8% increase in May and missing the 9% forecast of Trading Economics.Elsewhere, profits of China's major industrial firms grew 15.1% year over year in June, softer than the 21.1% gain in May.TUESDAY, July 28India is expected to see a year-over-year rise of 5.3% in industrial production in June, according to economists at ING. Manufacturing production is projected to increase 5%, based on a Trading Economics forecast.South Korea will release consumer confidence data.WEDNESDAY, JULY 29Markets will be on the lookout for the U.S. Fed's interest rate decision, with Investing.com and Westpac expecting the regulator to keep the policy unchanged for the fifth straight meeting.Elsewhere, Singapore is set to release domestic supply and manufactured products price index data, as well as export and import price figures.THURSDAY, July 30South Korea will release its business confidence report, while Japan publishes its consumer confidence data.Singapore will report its unemployment statistics for June, with Investing.com projecting a 2.1% rise.FRIDAY, JULY 31Japan is expected to keep its interest rate steady at 1%, according to predictions by ING and Investing.com.Japan's Usual End-of-Month Data DelugeInflation: Tokyo inflation figures will give further insights into Japan's inflation outlook. Tokyo's annual inflation rate is estimated to rise slightly to 1.8% in July, according to market consensus forecast data quoted by ING and Westpac Economics.Retail Performance: June retail sales are expected to increase 2.8% year over year, according to a Trading economics consensus.Activity: Industrial production is estimated to increase 1.8% compared with a 2.1% decline a year prior.Unemployment: Japan's unemployment rate will likely remain unchanged in the month at 2.5%, according to a Trading Economics consensus.Elsewhere, experts at ING forecast a slowdown of China's manufacturing PMI to 50.1 in July from 50.3 the previous month. Non-manufacturing PMI is expected to decelerate to 50 from 50.2 in the previous month.ANZ Research, however, projects manufacturing PMI to fall to 49.9 amid a correction in commodity prices, which dampened business sentiment and corporate profit outlook, the Wall Street Journal reported citing Senior Rates Strategist Jennifer Kusuma.Westpac Economics sees manufacturing activity as broadly stable, alongside a focus on domestic demand for services.Other key indicators due Friday are South Korea's industrial output and retail sales data for June, as well as Singapore's business confidence report for the second quarter.

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Asia

Market Chatter: Honda India Bets on Ethanol-Fueled Two-Wheelers Over EVs

Honda's (TYO:7267) Indian two-wheeler unit is prioritizing ethanol-blended fuels over electric vehicles to cut emissions, citing practicality and customer needs, Bloomberg News reported on Friday, citing President Tsutsumu Otani.Otani said that sustainability must remain accessible and reliable for India's diverse market, rejecting a one-size-fits-all approach, the news wire said.Honda Motorcycle & Scooter India is advancing flex-fuel options like E85 and pure ethanol while staying on the EV sidelines, the publication said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Manipal Health Enterprises Seeks INR92.8 Billion in IPO

Manipal Health Enterprises, which operates the Manipal Hospitals chain, has launched its initial public offering, seeking to raise around 92.8 billion Indian rupees at a price band of 560 to 590 rupees per share, according to its red herring prospectus filed on Friday.The IPO comprises a fresh issue of shares worth 80 billion rupees and an offer for sale (OFS) of up to 21.6 million shares, valued at roughly 12.8 billion rupees at the upper end of the price band.The issue will open for public subscription on July 29 and close on July 31, with anchor investors permitted to place bids on July 28.Promoters Imperius Healthcare Investments and Manipal Education and Medical Group India, along with investors TPG SG Magazine, Seventy Second Investment Company, Ammar, Novo Holdings Invest Asia and Phoenix Bear Investments, will sell shares through the OFS, the document showed.The company plans to use 55.5 billion rupees of the fresh issue proceeds to redeem the outstanding non-convertible debentures issued by its subsidiary, Manipal Hospitals.It also plans to deploy 5.74 billion rupees to acquire a minority stake in step-down subsidiary Sahyadri Hospitals, while the remaining amount will be used for general corporate purposes.

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International

India's Services Activity Slows in July, Flash PMI Shows

Services activity in India eased in July, with the HSBC Flash India Services Purchasing Managers' Index (PMI) falling to 53.1 from 57.4 in the previous month, according to preliminary data compiled by S&P Global and released on Friday.The reading missed the 59 forecast tracked by Trading Economics. A reading above 50 indicates expansion in the sector, while a figure below signals a contraction.The latest performance was driven primarily by increasingly challenging market conditions, competitive pressures, order cancellations, reduced client inquiries and shortages of key raw materials.

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International

India's Private-Sector Expansion Slows to Four-Year Low in July, Flash PMI Shows

Business activity across India's private sector expanded in July, with the HSBC India Composite Purchasing Managers' Index (PMI) falling to 54.3 from 57.1 in the previous month, according to flash data compiled by S&P Global and released on Friday.The reading remained well above the 50 mark that separates expansion from contraction.The moderation was driven by a sharp slowdown in the services sector amid challenging market conditions, competitive pressures, order cancellations, weaker client inquiries and shortages of key raw materials.The manufacturing PMI, released the same day, eased to 53.9 from 54.2 the previous month, while the services PMI business activity index declined to 53.1 from 57.4 in June.The manufacturing output index rose to 57 from 56.3.

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International

India's Manufacturing Activity Slows in July, Flash PMI Shows

Manufacturing activity in India contracted in July, with the HSBC Flash India Manufacturing PMI falling to 53.9 from 54.2 the previous month, according to preliminary data from S&P Global released on Friday.A reading above 50 indicates expansion in the sector, while a figure below signals a contraction.The latest performance signals a "below-trend improvement in overall factory conditions," the report said.

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International

Trump Administration Slaps Up to 12.5% Tariffs on 60 Nations Over Forced Labor Concerns

US President Donald Trump's administration on Thursday imposed new tariffs of up to 12.5% on South Korea, Japan and 58 other trading partners over forced labor concerns.The imposition of tariffs followed Section 301 investigations into whether these economies fail to prohibit or enforce a ban on imports made with forced labor, according to White House statement on Thursday.Japan, South Korea, and Switzerland face a net 12.5% cap, meaning their effective tariffs are reduced by their existing Most-Favored Nation (MFN) duties.Australia and China will face a straight 12.5% tariff on all goods while Taiwan and the European Union will see tariffs capped at a net 10% (the difference between the MFN rate and 10%).Southeast Asian nations received mixed treatment: Malaysia, Indonesia India, and Bangladesh were assigned a 10% tariff with additional textile tariff-rate quotas (TRQs) to encourage U.S. cotton and textile imports, while the Philippines, Singapore, Thailand, and Vietnam were lumped into the 12.5% category.There is a proposed 10% tariff on goods from economies that have a forced labor import ban in place but are not yet effectively enforcing it.The six economies falling into this category are Canada, Ecuador, the European Union, Indonesia, Mexico, and Pakistan.

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International

India's Central Bank Sold $6.1 Billion in Forex Market in May, Data Shows

The Reserve Bank of India sold a net $6.10 billion in the foreign exchange market in May, down from net sales of $8.94 billion in April, according to data released in the central bank's bulletin on Wednesday.It purchased $22.2 billion and sold $28.3 billion in the spot foreign exchange market during the month.The central bank's outstanding net forward dollar sales widened to $106.7 billion at the end of May from $95.3 billion at the end of April.

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Asia

S&P Says Currency Depreciation Has Mixed Impact on Asian Corporates

Asian corporates will face mixed effects from currency depreciation, S&P Global Ratings said Wednesday.Exporters will see gains from weaker currencies while importers are pressured by their inability to pass on greater costs, the rating agency said.India, Indonesia, Japan and South Korea have experienced weaker local currencies, but S&P said most rated companies should be able to manage the risks.However, some issuers show greater vulnerability to depreciation amid mismatches in operational and financing foreign exchange, S&P analyst Simon Wong said.Firms that mostly use domestic revenue and cash flow to anchor notable amounts of US dollar debt are subject to greater refinancing risk under steep depreciations, the analyst said.Still, S&P views companies as stronger compared to past instances of depreciation, given natural or financing hedging of foreign currency debts, manageable volume of maturing US dollar notes, and less dependence on US dollar borrowing.

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Asia

India Top Diplomat Pushes China to Address Fair Market Access, Trade Balance

Indian Foreign Minister Subrahmanyam Jaishankar told Chinese counterpart Wang Yi to address fair market access and trade balance during a meeting in Manila, Philippines, on Wednesday."Fair market access and a trade balance ranks high in that regard There are also concerns about predictability of supply chains. Facilitating both official and people-to-people exchanges merit our attention," Jaishankar said in his opening remarks at the sidelines of the ASEAN Post-Ministerial Conference in the Philippine capital.The statement comes as both nuclear powers try to mend ties after clashes on their borders erupted in 2020, according to a Reuters report the same day.Both Prime Minister Narendra Modi and Chinese President Xi Jinping held talks that helped improve relations between New Delhi and Beijing in 2024, according to the newswire.

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International

India's Central Bank Proposes Overhaul of Foreign Investment Rules

The Reserve Bank of India (RBI) released draft regulations proposing an overhaul of the country's foreign investment rules to simplify compliance and align forex laws with national investment policy.Under the proposed rules, an Indian entity would be considered foreign-controlled if a foreign investor holds at least 10% of its voting rights, can appoint a majority of its directors, or can influence management or policy decisions.The RBI said the draft was prepared following a government-led review announced in the Union Budget 2026-27.Comments on the proposed rules are invited until Aug. 31, after which the framework will be finalized.

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Asia

Market Chatter: Coca-Cola Ropes in JPMorgan, Citi as Bankers for Indian Bottling Unit's IPO

Beverage giant Coca-Cola has appointed JPMorgan and Citi as bankers for the proposed initial public ​offering of its Indian bottling unit, Hindustan Coca-Cola Holdings, in 2027, Reuters reported Monday, citing people with direct knowledge of the matter.Coca-Cola disclosed in June that it was exploring a 2027 public listing for the Indian bottling unit alongside the potential sale of a portion of its stake.Bankers had made their pitch to Coca-Cola for the IPO mandate in London earlier this month, after which JPMorgan and Citi were appointed, Reuters said. Kotak and Morgan Stanley have already been appointed as bankers on ​the IPO, said one of the sources cited in the report.The investment banks and Coca-Cola did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

RBI's Special Swap Facility Raises $20.7 Billion as of Mid-July

The Reserve Bank of India's special swap facility attracted $20.7 billion in total foreign currency inflows as of July 17, according to data released by the central bank on Monday.A majority of the funds, amounting to $17.4 billion, came via Foreign Currency Non-Resident (Bank), or FCNR(B), deposits. The central bank's terms allowed lenders to offer elevated yields on non-resident Indian foreign currency accounts.Companies have also raised $1.34 billion through external commercial borrowings (ECB), while overseas foreign currency borrowings (OFCB) brought in another $1.97 billion, the RBI said.Unveiled on June 5 and operationalized on June 8, the special swap window was designed to reinforce India's external capital buffer and support the rupee.The RBI noted that the concessional swap facility for FCNR(B) deposits will remain open through Sept. 30, while the window for OFCBs and ECBs will continue through Dec. 31.

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International

India's Core Industries Grow 5% in June

India's combined Index of Core Industries (ICI) provisionally grew by 5% year over year in June, according to data released Monday.The Department for Promotion of Industry and Internal Trade released the revised series of ICI with base year 2022 to 2023, which will now include iron ore to have nine industries, to replace the existing series of ICI with base year 2011 to 2012.Iron ore, electricity, cement, steel, and coal saw a growth rate of 43.9%, 9.8%, 9.8%, 4.6%, and 1.4%, respectively, year over year.On the other hand, natural gas, crude oil, refinery products, and fertilizers saw negative growth in the month.

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International

Asia Week Ahead: Bank Indonesia Decision, Japan Inflation, Korea GDP

Several key economic releases are due across Asia this week, including central bank decisions, inflation data, gross domestic product figures and flash purchasing managers' index reports.The week begins with China's benchmark lending rates on Monday, followed by Taiwan's June export orders on Tuesday.Indonesia's central bank will announce its interest rate decision on Wednesday. On Thursday, South Korea will report second-quarter gross domestic product, and Singapore will publish June inflation figures.The week wraps up with July flash PMI data from India and Japan on Friday. Japan will also release inflation numbers.Here's what to watch in the week ahead.MONDAY, July 20The People's Bank of China left its benchmark lending rates unchanged for the 14th consecutive month, matching the consensus forecast tracked by Investing.com.The one-year loan prime rate, which serves as the benchmark for most corporate and household loans, was held at 3%. Meanwhile, the five-year LPR, the reference rate for residential mortgages, was maintained at 3.5%.Elsewhere, Malaysia's trade surplus narrowed to 14.9 billion ringgit in June from 39.9 billion ringgit in May.Total exports grew 45.4% year over year to 177.9 billion ringgit, while imports rose 43.9% to a record 163 billion ringgit.India's infrastructure output for June is also expected later today.TUESDAY, July 21Taiwan will report June export orders, with ING economists forecasting a 43.9% increase, slower than the 47.2% rise in May.WEDNESDAY, July 22Bank Indonesia is expected to hike rates by 25 basis points to 6%, according to a forecast by ING, adding that the increase underscores the central bank's commitment to foreign exchange stability by attracting foreign inflows and stabilizing the local currency.The hike is anticipated to be the last of the cycle, according to DBS economists.South Korea's producer prices are forecast to have risen 8.2% year over year in June, slowing from 8.5% in the previous month, according to Trading Economics.Elsewhere, Japan may see a trade deficit of 120 billion yen in June, narrowing from the 378.7 billion yen recorded in May, according to consensus estimates.Exports and imports are expected to climb 18.6% and 21% year over year, respectively.THURSDAY, July 23South Korea will release its Q2 GDP. ING said the economy likely grew 4.2% year over year in the April to June period, up from 3.8% in the first quarter, driven by positive net exports.Singapore will publish inflation data for June, with ING economists forecasting core inflation at 1.7%, and Trading Economics at 1.6%. This compares to 1.4% in May.FRIDAY, July 24Japan will release inflation figures for June. Trading Economics expects the nation's core consumer price index, which excludes volatile fresh food prices, to be 1.5%, slightly higher than May's 1.4%.Flash PMI reports for Japan and India are also due on Friday.Lastly, Singapore will post industrial production numbers, with Trading Economics forecasting a 9% year-over-year boost in June, slowing from May's 13% growth.

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Asia

Market Chatter: Manipal Health May Reduce Valuation to INR800 Billion for Planned IPO

Manipal Health Enterprises, which operates the Manipal Hospitals chain, is said to be looking at a lower valuation of around 800 billion Indian rupees for its proposed initial public offering, Bloomberg reported on Friday, citing sources.The healthcare services company aims to raise up to 110 billion rupees through its IPO, which is expected to be launched in the week starting July 27.The targeted valuation for the share sale is below the $10 billion to $12 billion marketed range floated in April, sources told Bloomberg.Manipal Hospitals did not immediately respond to MT Newswire's request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Tata Electronics to Start Chip Production With Older Technology

Tata Electronics is preparing to begin semiconductor wafer production in India using an older manufacturing process than originally planned, Bloomberg News reported Friday, citing people familiar with the matter.Tata Group's technology unit plans to produce chips primarily using 90-nanometer process technology at its upcoming fabrication plant in Dholera, Gujarat, the report said. The facility is reportedly expected to be India's first large-scale semiconductor fabrication plant.The project is being developed in partnership with Taiwan's Powerchip Semiconductor Manufacturing (TPE:6770), according to the report.Tata Electronics did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: More Than 100 Firms Eye Treasury Operations in India's GIFT City

More than 100 companies have engaged with JPMorgan Chase over the past year to explore banking and payment services for corporate treasury operations in India's Gujarat International Finance Tec-City (GIFT City), Bloomberg News reported Friday.The companies are expected to establish treasury centers in GIFT City over the next 12 to 18 months, the report quoted Guhaprasath Rajagopal, managing director and head of payments at JPMorgan India, as saying.Prospective clients include multinational corporations, as well as insurance companies and fintech firms, according to the report.GIFT City, an initiative of Indian Prime Minister Narendra Modi aimed at developing a global financial hub, had more than $100 billion in banking assets as of September 2025, double the level two years earlier, Bloomberg said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: India Seeks Local Alternatives for $51 Billion of Critical Imports

India is identifying about $51 billion of imports for potential domestic production as the government seeks to reduce reliance on overseas suppliers, Reuters reported on Wednesday, citing government sources.A government review reportedly found that goods worth about $398 billion out of India's total imports in the 12 months ended March 2026 could potentially be replaced through local manufacturing, with the $51 billion subset considered critical for domestic industries.The initiative will initially focus on about 100 items across sectors including textiles, footwear, electric vehicles and solar panels, Reuters noted.Indian government did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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