The research paper written is jointly by Amar Nath Yadav, Vivek Kumar and Jyoti Kumari of the Reserve Bank of India s Department of Statistics and Information Management and the external contributor Alok Kumar Chakrawal , vice-chancellor of Guru Ghasidas Vishwavidyalaya, Chhattisgarh. The views expressed are not necessarily of the central bank.
India will buy back 400 billion rupees ($4.80 billion) worth of securities, the country's central bank said on Friday. The securities offered for buyback are 6.18% GS 2024, 9.15% GS 2024 and 6.89% GS 2025, the Reserve Bank of India said in a statement. "The choice of securities suggests this buyback is a liquidity redistribution exercise by the government as they have clear visibility on their shorter-term funds," said Vivek Kumar, economist at QuantEco Research.
Apple's stock surged by over 6 per cent in after-hours trading on Thursday after the tech giant surpassed analysts' subdued expectations for quarterly revenue and announced the largest share buyback program in US history.
Asian stocks surged today, buoyed by Wall Street's tech-driven rally. Apple's record buyback plan lifted its shares, while the yen strengthened and oil prices rose. Labour also made gains in local elections. Attention now turns to the US non-farm payrolls report for economic cues.