State Bank of India plans to borrow up to $1.25 billion, in what would be the largest dollar-denominated loan from the country’s financial sector this year, according to people familiar with the matter. CTBC Bank, HSBC Holdings Plc and Taipei Fubon Bank are arranging the five-year loan, which carries an interest margin of 92.5 basis points over the risk-free Secured Overnight Financing Rate.
Open FlipCLSA retains its 'Outperform' rating on Reliance Industries, citing an "attractive entry point" with a 30% upside to its target price of ₹1,650, driven by new energy projects and potential value unlocking in Jio and Retail businesses. CLSA also sees a potential 72% upside to ₹2,186 if these projects materialize.
Open FlipBrokerage JM Financial said Zomato and Jio Financial Services could be added to Nifty 50 in the upcoming February 2025 review, based on the new F&O inclusions. The announcement for the March rebalancing of the Nifty will be made in February next year. BPCL (Bharat Petroleum) and Eicher Motors are likely to be the exclusions from the index.
Open Flip