Top gainers from the Sensex pack are Asian Paints, Bajaj Auto, ITC, NTPC, L&T and HDFC, all up 2% each
Uncertainties like the bankruptcies bill, rising non-performing accounts at banks and political uncertainty are expected to drive gold demand higher in India.
From fantasy to football, OTT is beaming with all kinds of goodies this week.
Bankers say debt resolution bills are coming high as resolution professionals are giving the human resources and audit/legal consulting to outside firms to plug all the loopholes.
The bills, including some key finance legislations, were passed during the course of a few hours in the post-lunch period.
Even existing cases might come under the proposed law, including those of Vijay Mallya, Nirav Modi and Mehul Choski. But, the law would not cover earlier cases.
The government would be ironing out issues related to the controversial 'bail-in' clause in the earlier Bill, explore hiking the deposit insurance cover of customers, and decide whether the resolution framework should apply to public sector banks.
The session of Rajya Sabha came to an end on Friday after passing 12 bills and wasting 19 hours due to disruptions over various issues like imposition of President's rule in Uttarakhand and AgustaWestland helicopter deal controversy.
The markets will be eyeing the amendments.
Aviation Working Group (AWG), a global aviation leasing body comprising major planemakers and lessors, on Monday further downgraded India as lessors have not been able to repossess their planes from Go First more than four months after the airline filed for insolvency. The leasing cost stands as a prominent expense for Indian airlines. With AWG's downgrade, it is likely that lessors will increase the aircraft leasing rates for Indian carriers.
Currently, confiscation can be done through multiple laws, but it is a complicated process.
The system envisaged under the FRDI Bill, if implemented properly, would help improve the efficiency of capital allocation without harming consumers, and without risking the stability of financial firms, says Ajay Shah.
Mutual funds, bonds, PPFs, equity and real estate are some options which offer varying rates of return.
Day 6 of Parliament's monsoon session 2020. Watch all the action in both houses LIVE here.
Benches of the National Company Law Tribunal (NCLT) should not get into questioning a company's default once it is established by the creditors, particularly financial creditors, for admission to the corporate insolvency process. This is one of the key themes of the draft guidelines for the NCLT, which are being finalised by the Ministry of Corporate Affairs (MCA), a senior official said. According to the official, while the company law matters could involve the "principle of natural justice" and justify extended proceedings to hear all parties concerned, the same does not apply to the Insolvency and Bankruptcy Code (IBC) proceedings.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
Top 5 losers include Infosys, TCS, ITC, M&M and HUL.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
'In the long run, I don't foresee major ramifications [about Trudeau's allegations].' 'There's just enough hypocrisy among Western nations for India to douse the outrage.'
The finance minister said the government was open to suggestions.
Congress members also vociferously pressed for a discussion on the Comptroller and Auditor General report.
Will the new Congress government implement the five 'guarantees' that helped it in part to wrest power from the Bharatiya Janata Party in toto or will they now add a "conditions apply" clause?
Stock selection in India remain relatively low-beta given the lack of any conviction here on any near-term upturn in the investment cycle
Mallikarjun Kharge, meanwhile, came to the defence of his son, saying he never made those comments.
Parliament may witness another stormy day in both Houses.
The opposition will seek to target the government on the issue of farmers' plight as well as their demand for a legal backing for minimum support price.
In between spells of adjournments, the House conducted business for a brief period and passed two Bills -- the Mineral Laws (Amendment) Bill and the Insolvency and Bankruptcy Code (Second Amendment) Bill - amid continuous protests by the Opposition.
Opposition is expected to raise these issues in the session beginning July 19. It will be the first session of parliament after the outbreak of the devastating second wave of Covid.
The Securities and Exchange Board of India (Sebi) has just released a proposal to alter the regulations pertaining to the sponsor system for mutual funds. One of the reasons for the proposed changes is that there are two conflicting regulations that need to be clarified. The other reason is that the sponsor system may itself be outdated as it stands, and the proposed changes would allow new entities such as private equity funds and portfolio management services to enter this space.
Bhupender Yadav's entry to the Modi government as a Cabinet minister is seen as his just reward after serving as a party office-bearer for the longest term among all current occupants.
Business failures rise when growth declines. When Indian growth slowed in the last decade, defaults increased. This is the normal working of the market economy, points out Ajay Shah.
The Opposition on Monday charged the government with trying to promote crony capitalism, creating fear by giving "unbridled power" to taxmen, trying to snoop into people's lives through increased use of Aadhaar through the provisions of the Finance Bill.
Prime Minister Narendra Modi on Thursday slammed the opposition alliance INDIA as a collection of arrogant dynasties who will take India back by two centuries as he exuded confidence that people will bless the "garib ka beta" with a record-breaking mandate in the 2024 Lok Sabha polls.
Finance Minister Nirmala Sitharaman on Monday said the government is planning to extend the suspension of fresh insolvency proceedings for another three months, a move which will provide major relief to corporate borrowers hit by the coronavirus pandemic. Addressing the Bangalore Chamber Of Industry And Commerce (BCIC), she said the government has taken several measures, including deferment of tax payment date, to help businesses and people.
Priorities include the amendments of the Companies Act and the Motor Vehicle Act
The government last year introduced the Insolvency and Bankruptcy Code.
The states recording the highest number of such deaths include Karnataka (14.3 per cent), Maharashtra (13.2 per cent), and Madhya Pradesh (11.3 per cent). Tamil Nadu (9.4 per cent) and Telangana (7.5 per cent) were the other two in the top five.
The Lok Sabha session was on Wednesday brought to a sudden end, two days before the scheduled culmination of the session during which the budgetary exercise was the highlight.
All you need to know about the Winter session of Parliament.
People like Manmohan Singh and P Chidambaram, who as finance minister had fully supported the NPS, refuse to exercise their moral and political influence to try and stop Ashok Gehlot and others hell-bent on wrecking the states' finances, notes Virendra Kapoor.
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