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.
Financial year 2010-2011 saw high wealth erosion for investors in the IPO market.
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.
Market intermediaries, who are constantly on the lookout for avenues to reduce overhead and compliance costs, have found a new tool.
With global investors shifting focus from developed to emerging markets in the last few days, India has emerged as a major beneficiary.
With the new financial year kicking in and the equity markets showing signs of stability, the government is expected to soon initiate its divestment programme with renewed vigour.
An ETF is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities or bonds.
While there are still some months left before two of the three members retire, the industry is already abuzz with talk that they might get an extension.
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
After introducing the call auction mechanism in Sensex and Nifty stocks, the Securities and Exchange Board of India (Sebi) is mulling extending this to the proposed platform for small and medium enterprises (SMEs), although with a few changes.
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.
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.
The mega real estate loan scam could delay the initial public offers of over half a dozen real estate developers because of poor investor sentiment, said bankers and analysts tracking the sector.
The new Takeover Code that proposes sweeping changes in the way mergers and acquisitions are done in India is unlikely to get the final regulatory approval in the next couple of months. It is expected that the new set of regulations will be implemented only around the end of the current financial year.
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.
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