U.S. stocks dipped once again today as Federal Reserve remained resolute in its hawkish stance to battle inflation. Treasuries pared losses with 10-year yield rising three basis points to 3.76%.
The S&P 500 fell 2.2%; the tech-heavy Nasdaq joined with downturn with 3.1% decline. Meanwhile, oil rose 0.2%, amid OPEC+ discussions over slashing output at its meeting next week. Gold changed little, whereas Bitcoin held on to the $19,000-level.
India’s stock benchmarks closed at record on Friday and posted weekly gains aided by metal, pharma and capital goods stocks.
The S&P BSE Sensex advanced 0.31% to 56,124.72, the first ever close above the 56,000-mark. The NSE Nifty 50 added 0.41% to 16,705.20, again the first ever close above 16,700.
Four bidders in the final race for Reliance Home assets
January 27, 2021
acre, ares ssg, Capri Global, Kotak Special Situation Fund, avenue capital Assets Care & Reconstruction Enterprise Ltd (ACRE) along with Hong Kong-based private equity Ares SSG, Capri Global, Kotak Special Situation Fund and Us-based investment firm Avenue Capital are among the four bidders that remain in the final to acquire Reliance Home Finance Limited (RHFL)
Avenue Capital has partnered Asset Reconstruction Company (India) Limited for the bid. While lenders favour proposals for the entire company, Capri Global is understood to have emerged as the highest bidder for the retail assets of RHFL.
Centrum-BharatPe, Liberty group in race for beleaguered PMC Bank Steel baron Sanjeev Gupta’s Liberty Group of the UK, the Jaspal Singh Bindra-led Centrum group and BharatPe combine, and two business families from Mumbai and Hyderabad have expressed interest for beleaguered Punjab and Maharashtra Co-operative Bank (PMC Bank). This is the first time that corporates, non-banking financial companies, and high-net-worth individuals have shown eagerness in taking over an urban-cooperative bank (UCB).
Paediatric coronavirus vaccine work may begin in India by mid of 2021 The pandemic year has turned the conventional way of developing vaccines on its head. Though immunisation worldwide is a paediatric medical event, the first Covid-19 shots developed were for people aged 18 years and above. Work on paediatric versions of Covid-19 vaccine, however, is not far behind, according to vaccine manufacturers in the race.