FED rates up..Ather IPO, Shriram mergers

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Fed signals aggressive rate hikes ahead, cuts GDP growth outlook

Federal Reserve officials raised their main interest rate by three-quarters of a percentage point — the biggest increase since 1994 — and signaled they will keep hiking aggressively this year, resorting to drastic measures to restrain the rampant inflation they failed to forecast.

Share Market ;;Opens positive but dives to negativity.

Indian shares snapped a four-session decline on Thursday,but reverses soon….surge short-lived– boosted by financials, after the US Fed hiked policy rates along expected lines. The Fed approved its biggest interest rate hike–75 bps–since 1994 but assured such aggressive increases will be rare going ahead

Indian equity markets rose on Thursday, tracking positive global sentiments. Stocks and US equity futures climbed after Federal Reserve Chair Jerome Powell said super-sized interest-rate hikes will be rare following the central bank’s biggest increase in borrowing costs since 1994. At 11am, Sensex was up 170.90 points at 52,712.31, while the broader Nifty rose 36.10 points to 15,728.30

Shriram Group has secured RBI approval for the merger of Shriram City Union Finance and Shriram Capital Ltd with Shriram Transport Finance Company:

EV Scooter maker -Ather Energy IPO soon…

Bengaluru-based electric 2-wheeler maker Ather Energy has initiated discussions with investment banks, exploring the possibilities of going public in the near future, said two people aware of the development, speaking on the condition of anonymity.

Ather is one of India’s leading electric two-wheeler companies, founded by Tarun Mehta and Swapnil Jain in 2013.

“Ather has met a few of the major domestic and foreign investment banks in recent weeks to discuss the feasibility of an IPO. These are very preliminary talks and they are trying to understand what valuations they can expect if they were to go ahead with an IPO in the coming quarters, as early as end of the year, but most likely in the first half of next calendar year,” said the first person cited above.

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