The Indian government is mulling various steps to prevent further depreciation of rupee against the dollar. One of the steps considered by the government is to ask financially strong state-run companies to raise debt from overseas investors. According to one estimate, state-run companies could raise $25-30 billion of capital through issue of bond
FlashNews:
Hindalco to be a force for good with engineered solutions transformation: Kumarmangalam Birla
HSR Needs Fast Tracking
RECPDCL Handovers Ratle Kiru Power Transmission Limited, a SPV of Transmission Project, to IndiGrid 2 Private Limited
RECPDCL Handovers 3 Nos. SPVs of transmission projects viz. Banaskantha Transco Limited, Kurnool-IV Transmission Limited & Rajasthan V Power Transmission Limited to Power Grid Corporation of India Limited
Showcasing India’s Supply Chain Revolution
Highlighting the Future of Smart, Sustainable Infra
Driving Sustainability Through Innovation
REC Signs ₹18,360 Cr MoU with Govt. of Kerala for Pump Storage Projects
IIFCL Launches its Gender Equality and Social Inclusion (GESI) Cell on the occasion of International Women’s Day 2025.
IIFCL and CBI Sign Expression of Interest to promote Sustainable Infrastructure Financing in India
CCI India presents 1st edition of CEO Round Table Conference on Agriculture
Jayesh Ranjan & Cement Expo Forum Leaders converge in Hyderabad
Fluence Launches Advanced Smartstack Platform for New Energy Storage Era
NBCC inks MoU with NIT Kurukshetra valuing Rs. 300 Crore
REC Foundation Commits ₹6 Crore to Sankara Eye Hospital for Cataract Surgeries Benefiting 8,000 EWS Patients
Integrated Exhibition Cum Convention Centre (IECC), better known as Bharat Mandapam, achieves prestigious GRIHA 4-Star Rating
REC Limited Signs Agreement with CVPPL, to provide ₹2147.508 Crore Term Loan to Develop 1000MW Pakal Dul Hydro Electric Project
NBCC Reports Robust 40% Surge in Net Profit
The time to invest in India’s energy sector is now, says PM Modi
Govt mulls overseas debt issuance by PSUs
The Indian government is mulling various steps to prevent further depreciation of rupee against the dollar. One of the steps considered by the government is to ask financially strong state-run companies to raise debt from overseas investors. According to one estimate, state-run companies could raise $25-30 billion of capital through issue of bond
Indian rupee may trade in 58-62 range
Indranil Sen Gupta, India Economist at DSP Merrill Lynch (India) expects the Indian currency to trade in the range of 58-62 against the US dollar at the cost of 50 basis points of economic growth. This assumes that the July 23 measures are reversed before the busy October-March season, Gupta
Govt may relax ECB norms
After holding consultation with Indian companies, especially in the infrastructure sector, the government may relax guidelines for accessing funds through external commercial borrowing (ECB), media reports indicate. Under the ECB route, borrowers can raise dollar-denominated loans directly from international banks, international capital markets, multilateral financial institutions such as International Finance Corporation and
Govt may relax ECB norms
After holding consultation with Indian companies, especially in the infrastructure sector, the government may relax guidelines for accessing funds through external commercial borrowing (ECB), media reports indicate. Under the ECB route, borrowers can raise dollar-denominated loans directly from international banks, international capital markets, multilateral financial institutions such as International Finance Corporation and
IOC raises $500 mn via bond issue
Indian Oil Corporation (IOC) raised $500 mn through issue of 10 year dollar denominated bonds at a coupon of 5.75 percent. The state-run oil marketing company (OMC) roped in Deutsche Bank, HSBC and Standard Chartered Bank as the joint book-runners for the bond sale. Around 400 investors across the globe offered bids worth about $3.5 bn for subscribing to the bonds. The bidd
Punj Lloyd to convert part of rupee loan into dollar
In order to align its business operation, engineering major Punj Lloyd plans to convert part of its rupee debt into dollar debt. Profitability of the firm took a hit because of the mismatch between the interest payment on debt (which is mostly in rupees) and revenue (which is mostly in dollar). While the company derives 65-70 per cent of its business from abroad, its 65-70 per cent of debt is in rupe
OMCs raise petrol price 4th time in 6 wks
On the backdrop of the depreciation of rupee against dollar, state-run oil marketing companies (OMCs) raised the price of petrol by a steep Rs 1.55 a litre, excluding local sales tax or VAT. According to the traditional price revision cycle, the change in the petrol price should be effective from July 16. But it was raised a day earlier. The hike, which is the fourth time in six weeks, comes as the falling value of rupee against the dollar incre
RBI may take steps to arrest rupee weakness
Some market analysts expect Reserve Bank of India (RBI) to take steps to arrest further depreciation of rupee against the dollar. In order to meet the demand for dollar to import crude oil by oil marketing companies (OMCs), RBI may look at opening a special window from where these firms could buy dollars. A large part of demand for dollar comes from OMCs and if this demand is eliminated from the m
CII survey calls for reforms to stem rupee weakness
A survey conducted by industry body Confederation of Indian Industry (CII) highlights the importance of economic reforms in arresting the depreciation of rupee against dollar.Some of the key reforms mentioned by the participants of the survey are relaxing the sectoral cap on foreign direct investment (FDI), controlling fuel and fertiliser subsidies, removing hurdles to infrastructure proje