In the year to date, 61 PSUs have lost an average of 22 per cent, with five companies losing more than half their share value. The BSE PSU index is down 10.6 per cent.
Ninety-nine companies, which also include some unlisted ones, have more than Rs 100 crore each of minimum alternate tax credit on their books, cumulatively adding up to Rs 75,000 crore. By utilising MAT credit, many companies will be able to bring down their effective tax cost.
As many as 40 staffers, in the key equities and investment banking division in India, could be asked to go as part of the London-headquartered lender's global layoffs, said people aware of the development. HSBC India declined to comment.
The number of equity schemes rose to 562 from 519 two years ago. Equity NFOs, in fact, have mopped up more than Rs 16,000 crore since 2018 - 2.7 times the Rs 5,948 crore collected in the preceding three calendar years.
Market players say following the tax cuts, the market mood had changed from bearish to positive, which should help sustain the rally.
In the first eight months of 2019, 70 per cent stocks in the BSE 500 universe were down. These stocks account for 94 per cent of India's total market capitalisation.
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.
In the past few months, 45 companies have signalled their intent to raise money through the institutional placement route.
They have been on an unbroken selling streak since the Union Budget, spooked by increase in income-tax surcharge, taxes on buybacks, and lack of stimulus to prop up the economy.
According to PRIME Database, there are nine companies with active buyback programmes of Rs 8,605 crore. Among these, Infosys's share repurchase programme is the biggest at Rs 8,260 crore.
'Equities are likely to be range-bound with a downward bias for the remaining part of the year.'
Fund managers's compensation is largely tied to the assets they manage and scheme performance.
Market players said a big upmove by the market will depend on policy action by the government to revive economic growth and corporate earnings revival.
Monsoons have had limited effect on market returns for a given year, report Sachin Mampatta and Sundar Sethuraman.
Nearly three-fourths of the debt money, as of April 30, 2019, was invested in securities with duration of less than three years.
'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.
Starting April 1, a non-executive director of 75 years or more can be appointed or re-appointed only by way of a special resolution, which requires 75 per cent 'for' votes.
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