Jio could file draft IPO papers before Friday's AGM, FT reports. HDFC Bank prices $750M bond at 5.067%. RBI eases ECLGS capital norms. NHPC, Power Grid win long-cycle projects.
Reliance Jio Infocomm could file draft papers for its $4 billion IPO within days, the Financial Times reported Wednesday, citing sources. The timing puts the filing just before chairman Mukesh Ambani's annual speech to Reliance Industries shareholders on Friday. A deal that size would absorb meaningful equity liquidity from domestic and foreign funds.
HDFC Bank's GIFT City unit priced $750 million in five-year senior unsecured bonds on Tuesday, carrying a 5.067% coupon. Moody's assigned a Baa3 rating, S&P a BBB. The notes will list on the India International Exchange and NSE IFSC. The pricing signals foreign appetite for Indian credit risk at a time when global yields are shifting. HDFC Bank's stock sits at Alpha Score 44/100, reflecting the tension between resilient foreign bond demand and rising domestic funding costs.
A separate move touched bank capital. The RBI relaxed norms for the ECLGS 5.0 scheme, assigning a 0% risk weight to the 75% government-guaranteed portion of loans. That cuts capital consumption for banks making guaranteed loans, potentially freeing capacity for fresh credit. Bank of Maharashtra followed with MCLR increases: six-month to 8.80% from 8.70%, one-year to 8.95% from 8.85%. The rest of the curve held, suggesting the bank is managing margin rather than signalling a tightening cycle.
On the real-economy side, NHPC signed a memorandum with Arunachal Pradesh for the 3,097 MW Etalin hydro project on the Dri and Tangon rivers. The 40-year build-own-operate-transfer model means tariff certainty for the operator but requires years of capex before cash flows. Power Grid won a tariff-based bid for inter-regional transmission lines linking the western and eastern grids, including new substations in Jharkhand and Chhattisgarh. Both are long-cycle earnings stories for investors tracking capex cycles in utilities.
Infosys (Alpha Score 57/100, Moderate) appeared in the day trading guide alongside other stocks. The stock page offers the full scoring breakdown.
Commodities gave a mixed read. Brent crude gained 0.6% to $79.43 a barrel, recovering some of the prior session's 5% plunge as traders weighed the odds of a U.S.-Iran deal that could reopen the Strait of Hormuz. Aluminium futures, by contrast, are expected to fall to ₹330, with analysts pointing to short-term fluctuations before the downtrend resumes. The two moves tell different stories: oil is geopolitically binary, aluminium is demand-driven.
Embassy Developments said the Karnataka High Court has set aside an earlier order on land held by its subsidiary Embassy East Business Park Limited. The matter has been restored for fresh consideration regarding KIADB's resumption order concerning about 78 acres in Bengaluru. Nazara Technologies extended the timeline for fund infusion into its UK subsidiary to August 14, 2026. The company earlier proposed investing up to $100.3 million through equity and loan.
Tamil Nadu pollution board dropped scrutiny of Tata Electronics' iPhone plant in Hosur after tests showed no contamination, closing a wastewater case. Polycab's strong growth prompted partial profit booking amid high valuations and challenging macro conditions, the source noted.
Reliance shareholders get their cue on Friday.
Prepared with AlphaScala research tooling and grounded in primary market data: live prices, fundamentals, SEC filings, hedge-fund holdings, and insider activity. Each story is checked against AlphaScala publishing rules before release. Educational coverage, not personalized advice.