India's retail investors piled into state-run companies like IRFC and IREDA during the January - March period, according to data from Prime Infobase. Retail investors bought IRFC shares worth ₹1,533 crore during the March quarter. Interestingly, IRFC has little free float in the market as the government still holds an 86% stake in the company. IREDA, the most recent PSU listing also caught t...
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Shares of state-owned banks, non-banking finance companies (NBFCs) and infrastructure firms plunged as much as 10% on Monday following the Reserve Bank of India's tougher draft guidelines on the financing and accounting of project loans. The proposed stricter lending criteria, with additional provisioning, are aimed at preventing accounting shocks.
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U.S. stock indexes closed higher on Monday, their third straight session of advances, as investors continued to gain hope that there was a greater chance of the Federal Reserve cutting interest rates this year. Expectations for rate cuts by the U.S. central bank have been tempered as the year has progressed, as inflation has proven stickier, and some investors had begun to worry.
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