Profits of domestic brokerages fell substantially in the quarter ended March 31, thanks to subdued participation of retail investors and continued increase in the share of the low-margin options segment in the overall market volume.
If the deal materialises, Angel will have to pay at least Rs 800-1,000 crore (Rs 8-10 billion) for a 51 per cent stake, valuing the brokerage at Rs 1,500-2,000 crore (Rs 15-20 billion). The talks are at an early stage.
Sebi had acted against 10 brokerages after over 10,000 investors failed to get shares in last year's Coal India IPO in spite of legitimate applications.
With global investors shifting focus from developed to emerging markets in the last few days, India has emerged as a major beneficiary.
An ETF is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities or bonds.
This makes stock-picking by retail investors difficult, but market experts say they need to understand that institutional players do not have a cookie-cutter approach to investing.
During his tenure with the group, Bagchi has held several key positions in retail banking, corporate banking and treasury.
Inflation and political unrest in Egypt will haunt shares in the near term
Smart order routing (SOR) has finally taken off in India, with the country's two premier bourses resolving their long-standing dispute over the audit trail of orders. SOR allows brokers' trading engines to automatically choose the best price for stocks from multiple exchanges.
To make its stock market investments transparent and avoid further controversy, Life Insurance Corporation (LIC) has discontinued deals that were first negotiated over the telephone and then executed on the stock exchange platform, according to brokers familiar with the matter.
The management graduate from IIM-Ahmedabad has been with ICICI group for over 15 years. She is likely to be replaced by Anup Bagchi, executive director at ICICI Securities, sources said. Both Buch and Bagchi are also ICICI Securities board members.
Bank to argue with the Reserve Bank that new norms don't apply to floating rate schemes.
The loss followed a massive fraud allegedly committed by Shivaraj Puri, a relationship manager at the bank's Gurgaon branch.
Life Insurance Corporation (LIC), one of the largest institutional investors in the Indian stock market, has become active on the bourses again. This is after a brief lull last month following the bribe-for-loan scam and questions around its stock market dealings.
Revival in demand for IPOs has prompted the companies to tap primary market.
Banks and housing finance firms may seek legal mortgage as well as completion guarantee clause.
Investors are shying away from securitised loans of micro-finance institutions (MFIs), as the ordinance issued by the Andhra Pradesh government has slowed recoveries, creating uncertainty around the underlying portfolio.
The index compiler will add Coal India's stock into FTSE All-World Index and FTSE All-Emerging Index on a fast entry basis.
Mutual funds breathed easy today, with the flow into liquid and liquid-plus schemes soaring to Rs 30,000-35,000 crore. This is in contrast to the situation over the past few days when a liquidity squeeze caused by the Coal India issue soaking up cash forced companies and banks to withdraw money from mutual funds.
Emerging markets guru Mark Mobius believes the Indian market is no longer cheap but the country has been enjoying a premium over peers due to its growth prospects. In an interview with Business Standard, the executive chairman of Templeton Emerging Markets Group says India's relatively strong fundamentals and accumulation of foreign exchange reserves put it in a much stronger position to weather external shocks.
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