Market Bizzz

The division bench of Acting Chief Justice SV Gangapurwala and Justice SM Modak, in its detailed order, have upheld the plea filed by Axis Trustee Services and other petitioners, challenging the move of administrator appointed by the Reserve Bank of India (RBI).

The company had said if it were to participate in the bid process, the final composition of the bidding consortium would be different, and that a security clearance on the existing firm would not remain relevant, the sources said.

Yes Bank had written off AT-1 bonds worth Rs 8,415 crore as part of the bailout in March 2020

A flurry of U.S. data on Thursday indicated the world’s biggest economy was slowing down after multiple hefty interest rate hikes from the Federal Reserve as traders hope for a pause in tightening this year.

Tesla, meanwhile, will continue to take market share as global oil demand falls by 30% or more over the next five years, Wood estimated. The company’s recent moves to lower its prices will likely continue “aggressively” and put pressure on other automakers to match them, hurting its competitors “significantly,” she said.

In response to an additional question, more than 60% of respondents, 55 of 89, said the Fed was more likely to hold rates steady for at least the rest of the year than cut. That view lined up with the survey’s median projection for the first cut to come in early 2024.