HDFC Merger - RBI Stance on Economy - Adani Capital Raise

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HDFC Merger - RBI Stance on Economy - Adani Capital Raise
By Rakshith Pai M • Issue #8 • View online
No:8 
Hi everyone, I’m Rakshith Pai M
I welcome you all to this week’s top news regarding Investment, Economy & Personal Finance. 
HDFC to merge with HDFC!
HDFC would combine with India’s largest private sector lender, HDFC Bank. Through this revolutionary merger, the public would control 100% of HDFC Bank, while housing finance firm stockholders would possess 41% of the private sector bank. Following this news, both HDFC and HDFC Bank’s shares rose more than 14% during the day.
Through this transaction, the bank intends to leverage its client base and expand its home loan portfolio. HDFC, on the other hand, will benefit from this deal because it will be able to get low-cost money.
With this, 42 shares of HDFC Bank will be exchanged for 25 shares of HDFC. Or, every 1 share of HDFC is equivalent to 1.68 shares of HDFC Bank. 
RBI’s stance on the Indian Economy:
The RBI has maintained interest rates at 4% and stated that it will continue to support growth for as long as required. It also lowered its GDP forecast for FY23 from 7.8% to 7.2 percent. The RBI maintains current interest rates but reduces GDP forecasts for FY23. 
It also says that the retail inflation forecast has been raised from 4.5% to 5.7% because of things like rising oil prices and growing geopolitical concerns. The next interest rate determination meeting of the RBI will take place from June 6 to 8, 2006.
Adani Enterprises to receive 2 billion $ as Capital!
Three Adani group firms are slated to receive $2 billion (about Rs 15,400 crore) in capital under the preferential allocation procedure from the Abu Dhabi-based International Holding Company (IHC). IHC intends to invest Rs. 3,850 crore in Adani Transmission, Rs. 7,700 crores in Adani Enterprises, and Rs. 3,850 crore in Adani Green Energy.
According to Adani Enterprises, the cash would be used to expand the various companies and further improve the balance sheet.
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News for the Week:
  1. To avert the delisting of around 270 Chinese businesses from US exchanges, the China Securities Regulatory Commission announced that it will amend confidentiality regulations prohibiting its overseas-listed companies from disclosing sensitive financial information.
  2. SoftBank is said to have liquidated nearly all of its assets in the internal hedge fund SB Northstar following losses of between $6 billion and $7 billion on so-called “Nasdaq Whale” transactions.
  3. Global billionaires dropped by 329 to 2,668, according to Forbes. Their combined wealth dropped slightly to $13.1 trillion in 2021 because of a drop in global stock markets after Russia invaded Ukraine.
  4. Over 1,33,995 accounts have been given loans totaling around Rs 30,160 crore under the Stand Up India Scheme, which was set up in 2016 to help people who want to start businesses, especially women and people from low-income groups, get the money they need to start their businesses.
  5. In March, the US economy added over half a million jobs. The Dow Jones industrial average is currently within 6% of its all-time high. And during the course of the epidemic, US families collected nearly $2.5 trillion in surplus savings. Despite the positive news, Wall Street is abuzz with forecasts of an oncoming recession.
  6. Elon Musk said that Tesla could get into the lithium mining and refining business directly and on a big scale because the price of the metal, which is used to make batteries, has gone up a lot.
That’s all the major updates for the week. See you next Sunday. Until then, Work hard, stay safe, and most importantly… Always believe in India!
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Week’s Website Articles & YouTube Videos:
  1. YouTube link: 3 Simple Habits To Get Out of Poverty and Become Rich! #Habits
  2. YouTube link: Approach Stock Market with “SMART SIP!” How Does SIP Works? #SIP #StockMarket
  3. Website link: Everything you need to know about Mutual Fund Investing:
  4. Website link: Fixed Income Investments & Risks Involved:
  5. YouTube link: What is a Mutual Fund? Beginners Guild to MF Investing via SIP - 2022 #MutualFund
  6. YouTube link: Top 3 Sectors You Must Invest In Indian Stock Market - 2022! #Sector
  7. Website link: Top 3 Sectors For Long-Term Investing:
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Rakshith Pai M

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