As many as 10 public sector banks could be out of the infusion plan because of Sebi's minimum public shareholding norms.
IndusInd Bank, Kotak Bank, ICICI Bank, Sun Pharma, Bajaj Finance and Ultratech Cement were prominent gainers. NSE Nifty rose 176.65 points to 14,867.35.
Financial planners advise against putting capital to work by anticipating what might go up or down.
Here is some background on the candidates seen as potential successors to Rajan at the RBI
The benchmark National Stock Exchange Nifty has rallied 4 per cent, or 750 points, from this month's low to end at 19,732 on week ending November 17. Technical analysts say the market could consolidate around the current levels as it is nearing the resistance zone. "The near-term uptrend status of the market remains intact, but there is a possibility of some more consolidation or minor weakness for the Nifty in the next one to two sessions.
The ripples from November 8 may be seen in next year's state budgets.
Investors' wealth eroded by over Rs 4.90 lakh crore on Friday amid a sharp fall in equities. The 30-share BSE Sensex tanked 1,020.80 points or 1.73 per cent to settle at 58,098.92. During the day, it tumbled 1,137.77 points or 1.92 per cent to 57,981.95. The market capitalisation of the BSE-listed firms plummeted by Rs 4,90,162.55 crore to Rs 2,76,64,566.79 crore on Friday.
'The government must find worthwhile private owners for some of the banks, increase the share of private sector banking in the system, and then ask the remaining government banks to face the discipline of the market and compete, or shrink into irrelevance,' says T N Ninan.
In the past two months alone, four companies have garnered a cumulative Rs 22,400 crore via this route.
PEs and VCs are taking a closer look at their bouquet of investments. Leading voices in the sector are categorical that cash-burn rates -- that's blowing up equity to acquire market share -- as a business model can't continue to be the polestar.
'Modi knows the people here are opposed to this project, but he is using the might of government to push this port down our throats.'
Government announcements for the building of new roads, railways, and other capital expenditure (capex) projects may have hit an all-time low, according to numbers for the December quarter.
SBI Capital Markets Limited, the merchant banking arm of SBI, is eyeing the twin accounts of HPCL and BPCL for managing the divestment programmes of the 2 oil cos.
I hope those who underestimate Rajeev Chandrasekhar will be proved wrong in this fight for Thiruvananthapuram's future, notes Rajeev Srinivasan.
Policymakers should aspire to restore the pre-Independence environment where the rupee was trusted and used all over South Asia, in Southeast Asia, in West Asia, and in East Africa, suggests Ajay Shah.
Some lenders in talks with LIC for pvt placement
Food delivery major Swiggy has received approval from its shareholders for a $1.25 billion initial public offering (IPO), according to filings made with the Registrar of Companies sourced by Tofler. The Bengaluru-based firm plans to raise as much as Rs 3,750 crore (around $450 million) via a fresh issue and up to Rs 6,664 crore (around $800 million) through an offer-for-sale (OFS) component, the filings stated.
In a major step, SBI Capital Markets, India's leading investment banker, has decided to enter commodity broking and expand aggressively its online equity trading to take on competition from ICICI in the sector.
The 30-share Sensex is up 253 points at 29,263 and the 50-share Nifty has gained 68 points at 8,829.
It is up to the bank management to decide which application gets to interact with the CBS
The improved outlook on the Government of India announced by rating agency Moody's might need to be viewed with some scepticism. There is no doubt the performance of the Indian economy has sharply improved from the deep trough it hit last year. But the ability of the second largest global ratings agency to assess an upside and downside before events make everyone wise about India has been dismal for a long time, as the chart shows.
A lack of adequate disclosures raises the financing costs of corporate firms, especially sub-investment grade ones, and keeps the capital markets small, believes RBI deputy governor Viral Acharya.
Recent tribunal rulings open prospects of large haircuts and barriers to auctioning of personal guarantees, among other issues
Through the past 12 months, the Bank Nifty has risen 55%
India's economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24), the finance ministry said on Tuesday in its Monthly Economic Review for March. "We reiterate that downside risks to our official forecast of 6.5 per cent for real GDP growth in FY24 dominate upside risks," the review said. "Opec's surprise production cut has seen oil prices rise in April, off their lows of low-seventies per barrel in March.
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
Systemically important banks are subjected to higher levels of supervision to prevent disruption to financial services in the event of any failure.
This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.
The stock of State Bank of India (SBI) may re-rate soon, believe analysts, if the lender manages to safeguard its net interest margin (NIM) going ahead. This, along with controlled credit costs, should aid the outlook of the stock which has been underperforming the markets for some time now. "We believe delivery of growth on guided lines, sustenance of NIMs near current levels, and controlled asset quality parameters aiding controlled credit costs should lead to strong profitability and drive re-rating of the stock," said analysts at JM Financial.
Bankers need to take a call on whether they will allow technology firms to run banks or banks themselves will turn into tech firms, says Tamal Bandyopadhyay.
The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be 'extraordinarily generous' to Securities and Exchange Board of India (SEBI) and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
'The approach today is, instead of giving loans to 100 MSMEs, let us give one loan to a big-ticket corporate.' 'And so many of these big fish deceived the banks and the banks are in the doldrums now with high NPAs.'
This period of strong growth not only offers opportunities but also calls for strategic considerations to ensure sustainable development and equitable prosperity in the years to come, suggests Sujan Hajra.
PNB has rich experience in the integration of commercial banks.
'This issue is related to national security because they were compromising the entire capital markets's core infrastructure by leaking confidential information.' 'What would have happened if the servers had come down?' 'Or some confidential information leaked to terrorists who could have knocked out our capital market?'
'There are many things we need to work on.' 'At the heart of it is, one, the extent of inequality, which is not good for democracy and nation; two, a structural decline on how a country ought to function, how people should be held accountable, whose role is what.'
However, despite the reduction, their interest rates would be about 50-100 basis points higher than those of banks
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