It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
Fund managers said investors remained positive on the pharma manufacturing activity in India, which further strengthened during the Covid-19 period, on account of restrictions imposed on pharma imports from China.
The NSE held 25 to 100 per cent stakes in these entities through its subsidiary NSE Investments as of September.
While Dhanlaxmi Bank faces governance issues similar to those in Lakshmi Vilas Bank, the financial profile of the Kerala-based bank is better.
Nearly half of the investments by various US-based investors have been made in Reliance subsidiary Jio.
T'I am not going to buy small- or mid-cap stocks at very high valuations if it doesn't make sense for the investors.'
The drop was the result of the change in FDI rules, which was amplified by the border standoff between India and China.
As a result, the deadline for filing June quarter results ends on August 15. However, only 1,538 companies out of the 4,000-odd listed firms managed to declare their results within the usual deadline.
Recovery was largely driven by the European Union markets.
The pandemic has confined students across all ages to home and digital education is the only way to continue learning.
As macroeconomic numbers continue to disappoint, reaching pre-Covid level is unlikely in FY21.
China is the world's second-largest - both in terms of GDP and m-cap. At $10 trillion, its m-cap is second only to the US at $38 trillion.
Several brokers used shares of dormant or inactive clients to provide margins for other more active clients. This prompted Sebi to rework its entire system of pledging.
The company signed a JV agreement with Coal India to set up 5000 Mw of solar and thermal projects. These projects are expected to commence between 2023 and 2027.
Market players said the new norms were more suited for online brokers, where clients were typically internet savvy.
Increase in kharif sowing area, good monsoon, rural cash flows and base effect among factors that have driven volumes.
The dispute arose after Nissan alleged that Tamil Nadu hadn't paid certain incentives under a 2008 agreement to set up a car plant at Oragadam, near Chennai.
An EV has to be purchased along with the battery as there are hardly any battery swapping, rental, or leasing business models available across India.
The issue also underscores the growing scrutiny by investors and voting advisory firms of the performance of board members.
'We see the defence industry as one of the leading sectors, which will significantly contribute to the growth of the Indian economy, but more importantly, bring atmanirbharta to national security.'
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