Business

The government plans to raise approximately Rs 5,000 crore by selling up to a 2% stake in Coal India through an Offer for Sale (OFS). The floor price is set at Rs 412 per share, nearly 10% below the current market price. This move follows a successful OFS in Central Bank of India.

Wall Street surged Tuesday, buoyed by optimistic Iran conflict talks and robust tech stock performance. Easing bond yields further supported the rally, pushing major indices near record highs. United Airlines and Carnival saw gains as oil prices stabilized. Micron Technology was a standout performer, driven by AI optimism.

Union Bank of India has greenlit a substantial capital raise, aiming to secure up to Rs 8,000 crore. This strategic move involves issuing debt instruments, including Basel III-compliant bonds, to the tune of Rs 5,000 crore. Additionally, the bank plans to bolster its equity by Rs 3,000 crore through various public and private offerings.

Rising silver prices are fueling a surge of impure silver bars and coins in India, prompting calls for mandatory BIS hallmarking and licensing for refiners. Industry experts report widespread use of scrap silver containing prohibited elements, with limited quality testing infrastructure exacerbating concerns. Commodity exchanges are preparing to introduce quality-certified silver bars to standardize supply

India’s market regulator is exploring ways to deepen the corporate bond market by potentially easing disclosure rules for debt-only firms. A pilot project on bond tokenisation will also be launched to boost settlement speed and transparency.

Data from the US Citizenship and Immigration Services (USCIS) shows that nearly 540,000 family-sponsored green card applications and about 170,000 employment-based applications are currently pending.