In its red herring prospectus (RHP), NSE has highlighted its market leadership, scale, profitability, technology infrastructure and cash generation as key strengths. The exchange, however, has also flagged several risks, including dependence on trading volumes, regulatory changes and increased scrutiny.
With a stock price target price of Rs 1,250, the brokerage forecasts an upside of 17%. The lender will transition from a small-finance bank to a Universal bank that can lower funding cost, lift fees and strengthen brand to aid growth. Over FY26-29, strong deposit growth will aid credit growth of 22% CAGR and 29% in PPP (ex-treasury), highest in its coverage.
The Indian rupee fell by eleven paise on Friday, closing at 95.55 against the dollar as benchmark crude oil prices rose to $105 per barrel, fueling global uncertainties. The rupee faced mounting pressure from external factors during the week, with a notable demand for dollars from oil companies and dollar sales from state-run banks. It appears that the Reserve Bank of India stepped in to mitigate further currency depreciation.
Global investors are reducing Indian equity exposure due to a lack of AI investment themes. Foreign portfolio ownership has fallen to a seventeen-year low as funds exit the market. India now ranks as the least-favored market in Asia according to a recent survey. Local institutions are providing support, but foreign capital remains a concern. Investors seek more durable foreign direct investments to fuel manufacturing ambitions.
US stocks ended higher on Friday as accelerating consumer prices strengthened expectations of a Federal Reserve rate hike next week. The Dow, S&P 500 and Nasdaq all gained, while Dell surged to a record high. Oil prices fell but remained sharply higher for the week amid concerns over Middle East supply disruptions.
Demat 2.0 can allow investors to receive tokenised bonds instantly against payments made through the central bank digital currency (CBDC), significantly reducing the time gap in securities settlement, NSDL Managing Director Vijay Chandok said, while noting that wider trading will depend on regulatory approval and market readiness.
Granules India promoter Krishna Prasad Chigurupati sold 1.72 crore shares worth about Rs 1,500 crore through block and open-market deals. The sale funds the second tranche of a preferential issue, while promoter holding falls to 31.08% following the transaction today.
Sebi has concluded its proceedings against ninety-one commodity brokers linked to the NSEL issue, allowing these firms to participate in a settlement scheme. Many brokers consented to temporary limitations on proprietary trading and onboarding new clients, with some remitting settlement fees of up to thirty-six lakh rupees. This move aligns with the directive from the Securities Appellate Tribunal regarding an orderly settlement process.
Gold prices firmed over one percent on Friday, finding a short-term floor. Strong United States inflation data lifted expectations of a Federal Reserve rate hike next week. Market participants had a hike seventy percent priced in before the data release. Gold demand in India was subdued this week due to volatile prices. Investment demand remained strong in top consumer China, while silver and platinum also saw gains.
Recent inflation figures have exceeded expectations, leading many to anticipate a rate hike from the Federal Reserve. Core consumer prices increased more than what economists forecasted last month, and alongside rising oil prices, this trend indicates that inflation is on an upward trajectory. Traders are now estimating an 85% likelihood of a quarter-point increase in the upcoming meeting, with further rate hikes expected in December.
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