Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
Institutional investors - both foreign and domestic - lapped up the government's big-ticket share sales on Friday, helping it add nearly Rs 9,000 crore to its revenue kitty.
Issues Rs 358 crore interim dividend, 1:10 bonus and 10:1 split
You can still save money, says Samkit Maniar
There's lot more to be done for the masses, says Modi.
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
Co-founder Nilekani could take the role of non-executive chairman, becoming a bridge between the board and Murthy, reports Ayan Pramanik.
Some lenders in talks with LIC for pvt placement
Jayshree P Upadhyay ' Mumbai September 9, 2014 Last Updated at 22:50 IST Top Stocks to Buy in 2014 8-10 Best Stocks for 2014 per month Highly Accurate Calls, Free Trial stockaxis.com/Stocks-to-buy-in-2014 Ads by Google 3 Add to My Page RELATED NEWS Foreign investor cap in bourses may be raised Sebi sets foreign portfolio investor limit of 10% per firm Sebi move on FPI regime grounded No clarity yet on FPI regime Jaimini Bhagwati: Correcting tax and disclosure anomalies Karbonn Titanium S5 Plus Be 1st to own latest Android phone with Dual SIM, 8 MP Camera & more!www.karbonnmobiles.com/S5_Plus 1Cr Life Cover @ Rs 543* Compare Premium of 46 Insurers Buy Online and save upto 55%www.policybazaar.com/TermInsur_Rate Ads by Google In a move that could increase the stake of foreign investors in Indian stock exchanges, the government is considering a threefold increase in the single-investor investment ceiling. Currently,a foreign portfolio investor (FPI) investment in an exchange is capped at five per cent. The finance ministry has written to the regulatory authorities to increase the ceiling to 15 per cent, said sources. The proposal is said to have in-principle approval from the Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI). The move would bring the FPI investment limit in line with those for financial institutions such as insurance companies and banks. NEW POLICY IN THE WORKS Single foreign investor limit in exchanges to be revised from 5% to 15% Sebi and RBI have given in-principle approval to the proposal Government to amend foreign investment policy BSE has 8 foreign shareholders holding 31% stake NSE has close to 20 foreign shareholders holding 36% stake The government allowed the foreign investors to invest in stock exchanges in 2006, with an overall cap of 49 per cent. This latter cap is likely to be unchanged. BSE and the National Stock Exchange (NSE), the two large nationwide bourses, are likely to benefit from the increase in limits. BSE has eight foreign investors, which cumulatively own about 31 per cent in it. The shareholding of Deutsche Boerse Group and Singapore Exchange Ltd are a little below the five per cent ceiling. NSE has about 20 foreign shareholders, holding around 36 per cent. Cyprus' Gagil and Goldman Sachs own five per cent each; Citi Group has around two per cent. "The finance ministry has received representations stating that the present limit of five per cent is a deterrent in attracting long-term anchor and strategic foreign investors in stock exchanges. Following which, the ministry has sought comments from both Sebi and RBI," said a person privy to the matter. A higher foreign investor limit will not only encourage more investment in Indian bourses but help in exchange of technology and products, said exchange officials. "A five per cent limit on the shareholding of any single investor or investor group is too small to encourage them to take sufficient interest in growth of the exchange," said an official associated with one, asking not to be named. The regulator and the government are also mulling a change in the shareholding of clearing corporations, which could also see individual foreign investors' cap being increased to 15 per cent. Some sections of the market believe that allowing a single FPI to own 15 per cent in a exchange could be detrimental to having a diversified shareholding. The Bimal Jalan committee, in the previous review of ownership and governance of stock exchanges in 2010, had debated whether there was a need to revise the cap. It was in favour of having an anchor investor, such as a bank or financial institution, which would own up to 24 per cent. Read more on: Fpi ' Sebi ' Rbi ' Nse ' Foreign Investor ' Singapore Exchange ' Finance Ministry Read More Investors vie for shares of stock exchanges Pick-up in sentiment, volumes boost bourses' unlisted shares HDFC Life Click2Protect+ Get Lump Sum + Monthly Income Benefit* @ Affordable Rate. Buy Now hdfclife.com/Click2ProtectPlus Retirement Calculator Plan Your Retirement Online in 2Min Calculate & Compare Premium Here! policybazaar.com/Retirement Ads by Google Advertisements Get a freedom to choose your own plan. Click here to know more... Data transforming the match-making business. click here Open a free Trading & Demat A/c with Sharekhan Leadership and Corporate Accountability-India. Click here Great fares to Europe from INR 54,000* Amsterdam. Click here Start Investing with the best Broker in india Important Facts about Infant Hearing Screening Gifting Solutions. Make easy & perfect! Find out what converged solutions can do for you. Smart Cloud Virtualized Server Recovery. Learn more. The perfect drive the perfect style. Book a test drive 3 Add to My Page Back to Top Quick Links Go LATEST NEWSAll NewsIn this section Ebola threatening Liberia's existence, minister warns IS threatens to assassinate Twitter employees Motherson Sumi, Eicher Motors, TVS Motor gain inclusion in F&O segment ABG, Bharati Shipyard rallies on hopes of government sops Pre-market: Five stocks to watch out for in trade today US manufacturing industry pushes India for free trade Dollar gains on Fed outlook, hurts shares Wall St ends lower as Apple shares fall post launch Ukraine ceasefire 'mostly holding': US Flipkart launches third private label Citron News you can use Rss icon Errors to avoid when filing returns What is Gratuity? What are NEFT and RTGS? Check your Income Tax Credit credit status form-26AS online Saving capital gain tax on sale of property Calculate tax on your house property income How to Check your EPF Balance & status online Featured Videos iPhone killers? The biggest threats to Apple's dominance video Jaguar takes the battle to BMW video The 5 biggest IPOs in U.S. history video Here is the next-gen spy plane... a blimp video MOST POPULARReadSharedCommented Supreme Court reserves order on coal block allocations Apple launches Watch, two iPhones & Apple Pay Guj rains: Hundreds evacuated in Vadodara, Army on stand-by Neel Mukherjee's book in Man Booker shortlist Mumbai airport keeps airlines guessing on Airbus A380 parking bay Market News A fourth of mutual fund equity assets concentrated in 10 stocks ICICI Bank, HDFC Bank, Infosys, SBI and L&T among fund managers' preferred bets Den Networks: Investing in new growth avenues Its tie-up with Snapdeal to launch a shopping TV channel looks like a win-win deal Sensex, Nifty retreat from record highs on profit taking The BSE Sensex and Nifty fell on Tuesday from their record highs in the previous session as investors chose to book profits in recent ... High agri imports under govt lens Dept of commerce seeks ideas to curb import dependence for supply of commodities, writes to sector bodies MCX hopes FTIL stake sale will conclude by month-end The exchange's clarification came in the wake of FMC rejecting its demand to allow approvals for contracts for the March quarter of 2015.
Indian economy is expected to expand at 8.5-9 per cent over 10-15 year time frame once the structural issues hampering growth are addressed by the government.
Analysts say the company remains on a firm footing, stake sale by the founders will not impact fundamentals.
Indian Railways has tied up funds for the next two years for its ambitious modernisation programme.
In advanced economies where the financial system is more matured, the form of shadow banking is more of risk transformation through securitisation.
Cases across the country against defaulters who owe over Rs 1 crore each, reveal CIBIL data.
It could be a matter of concern that foreign shareholders of the NSE are registered in tax havens such as Mauritius and Cyprus.
Retail investors may burn their fingers investing in them, especially if the markets correct, experts tell Sanjay Kumar Singh
In the broader markets, the BSE Midcap and Smallcap indices were up 0.5% each
Half of the sharp rise in stocks in 2014 was driven by re-ratings - rise in price-to-earning ratios on hopes the new government would turn around the economy which will reflect in corporate earnings.
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Net investments by foreign investors in the equity market were $2.2 billion (Rs 13,166 crore) from July 1-25, while they amounted to $3 billion (Rs 17,829) in the debt market, taking the total to $5.2 billion (Rs 30,995 crore), as per the latest data.
Mr Prabhu has set the railways on a course of investing big .
The board will have to take a decision that he cannot remain a permanent director and also have to decide to whether to amend the article of association of the exchange in this regard.
ICICI Bank, ONGC and Tata Motors contribute to nearly 50% gain seen on the Nifty.
The gap between Nifty's price-earnings multiple and economic growth is at a 12-year high
SBI was the top gainer after it reported lower-than-expected rise in bad loans
RBI has, since January, cut its policy rate four times.
With a sole mandate of inflation targeting, RBI wears many hats.
What is it about Arohan that puts it in the top league of microfinance institutions in the country?
The bill seeks to ensure health-care, treatment and rehabilitation of persons with mental illness "in a manner that does not intrude on their rights and dignity."
Taking exception to Health Minister Harsh Vardhan not mentioning the death of healthcare workers due to Covid-19 in his statement in Parliament, the Indian Medical Association has published a list of 382 doctors who died due to the viral disease and demanded that they be treated as "martyrs".
Recent incidents suggest these safeguards perform well in simulated conditions and mock drills, but often fall short when actual threats emerge.
Yes, you need to be safe when dealing with third party agents who act as intermediaries between you and the lending institutes.
Farmers have suffered a lot on account of natural calamities.
The goal of the Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households, a panel chaired by Nachiket Mor that submitted its report to the Reserve Bank of India last week, is truly a BHAG.
Investments and expenses under section 80 C allows various tax benefits, says Harjot Singh Narula
As many as 10 public sector banks could be out of the infusion plan because of Sebi's minimum public shareholding norms.
Fraudulent emails exhorting people to deposit cash for reward are on the rise.
'The Insolvency and Bankruptcy Code is neither beneficial to banks nor helpful for the borrower.' 'Genuine people who are caught in economic stagnation will lose everything and thousands will lose jobs.'
'As the growth momentum reverses benefiting from re-monetisation, it will be accompanied by a rise in inflation.'
The Sensex ended up 48 points at 28,386 and the Nifty gained 13 points to close at 8,476.
Analysts expect modest recovery in Indian economy.
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