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sbi
Business Four of Top 10 Firms Add Rs 1.43 Lakh Crore; SBI Leads Gains
Indian markets ended the week higher, with four of the ten most valued companies adding Rs 1.43 lakh crore to their market capitalisation. State Bank of India led with a Rs 63,922.03 crore gain, while Reliance Industries, TCS and L&T also advanced; six other top-10 firms lost Rs 1.23 lakh crore combined.
Finance RBI's Swap Scheme May Attract $80-85 Billion in Forex Inflows, Says SBI Report
The Reserve Bank of India's concessional swap facility could attract $80-85 billion in foreign currency inflows, led by FCNR(B) deposits, according to a report by SBI Research. By July 17, inflows reached nearly $20 billion, providing a positive reprieve for India's external sector. The report projects a balance of payments surplus of over $50 billion for FY27.
Manufacturing India's EV Boom Could Save Rs 1 Lakh Crore in Oil Imports by 2030, Says SBI Report
According to an SBI report, India could save nearly Rs 1 lakh crore if electric vehicles account for 20% of the market by 2030. The report projects 35 lakh additional EVs will replace petrol vehicles between 2027 and 2030, and notes that EV registrations are climbing rapidly. However, charging infrastructure must keep pace, with fast chargers only 30% of the network.
Business NSE Files DRHP for $2-Billion IPO; Tiger Global, SBI Among Major Sellers
The National Stock Exchange has filed its draft red herring prospectus with Sebi for an estimated $2-billion IPO, nearly nine years after its first attempt was stalled by the co-location controversy. The issue is entirely an offer for sale, with Tiger Global, SBI, IDBI Bank, and others selling shares. The exchange received a no-objection certificate from Sebi earlier this year, clearing the final regulatory hurdle.
Trade SBI, Apple India Executives Join India's Board of Trade
SBI Chairman C S Setty and Apple India MD are among 29 new members appointed to India's Board of Trade. The board aims to enhance export strategies and performance.