Market players say following the tax cuts, the market mood had changed from bearish to positive, which should help sustain the rally.
Close to 21.5 per cent of this will be sold to Japan's Nippon Life, which will then become the sole promoter of the fund house.
The capital markets regulator exonerated former employees Subramanian Anand, Ravi Apte, and Umesh Jain, with respect to charges levelled against them.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
Increase in surcharge will adversely impact fund managers planning to shift to India. As a matter of fact several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain.
Half a dozen stocks from the large-cap universe and over two dozen from the mid-cap universe have been replaced.
These include increasing the public float in listed companies to 35 per cent from 25 per cent, increasing the minimum statutory limit for FPI investment in a firm from 24 per cent to the sectoral foreign investment, and lowering government holding in listed public sector undertakings.
In the past few months, 45 companies have signalled their intent to raise money through the institutional placement route.
The beleaguered Deutsche Bank announced major overhaul of its business, which included discontinuing loss-making equities trading business, creating a new 'bad bank', and cutting 18,000 jobs. Deutsche Equities India employs 35 people, all of whom could face the job axe.
'Equities are likely to be range-bound with a downward bias for the remaining part of the year.'
The tribunal, while adjourning the matter for September 16, directed Sebi to file a reply and gave three weeks to the Roys to file a rejoinder.
Fund managers's compensation is largely tied to the assets they manage and scheme performance.
Most brokerages have maintained their Sensex and Nifty targets as they believe there is little room for further re-rating in the backdrop of weak earnings.
There is a near consensus that at least a 25 basis points cut, if not 50, can be expected in the June policy.
Nearly three-fourths of the debt money, as of April 30, 2019, was invested in securities with duration of less than three years.
75 companies can dole out Rs 1.1 trillion from the 'extra cash' to shareholders.
NSE's board was to approve on Friday the annual financial statement for the year ended March 31, 2019, but it decided to defer the matter till its legal team firmed up a view on Sebi's order, sources said.
Based on a feedback, the exchange could cap a sector's weight at 25 per cent, or align with the broader market.
'The variables to watch include the monsoon, resolution of NBFC liquidity issues, GST collections, and NPA resolution.'
As share of cash volumes in trading mix sees decline, it will result in moderation of profitability from core broking operations.
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