Mired in corruption, politics and with a history of suicides by its hapless depositors, PMC Bank's revival is a challenge very different from Yes Bank and LVB, both for the regulator and the rescuer, observes Tamal Bandyopadhyay.
From the 30-share pack, 24 companies fell, with Yes Bank emerging as the top loser, dropping 8.36 per cent, followed by NTPC, M&M and Vedanta.
'Today, bankers don't want to take risks as the good decisions taken by them were not protected.' 'There is risk involved in all decisions, like businessmen taking risks in their businesses.' 'A banker must have taken a decision when the economic condition was different, and you cannot question him on the basis of the present situation in hindsight.' 'Naturally, this has affected the morale of bankers.'
'Some business families would probably have to revert to their core businesses, which the IBC will ensure.'
From the 30-share pack, 18 stocks ended with gains led by SBI, which surged 27.58 per cent, and ICICI Bank 14.69 per cent.
The draft amalgamation scheme of Punjab and Maharashtra Co-operative (PMC) Bank with Unity Small Finance Bank (SFB) allowed quick relief to depositors with savings of up to Rs 5 lakh, but a long wait for those who had their nest egg with the scam-tainted bank. If the scheme gets approved, 96 per cent (or 880,000 of 924,000) depositors will get their full money straightaway after PMC is merged with Unity SFB. According to the draft scheme, retail investors may get up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC) instantly, and then some more in phases till they can recall their full deposits after 10 years.
New law could pose challenges of cost escalation, increased paperwork, fear developers.
Investors became richer by over Rs 6.34 lakh crore on Monday as markets gave a big shout-out to the Budget 2021-22, which analysts termed as 'unprecedented' against the backdrop of the pandemic-induced slowdown. Cheering the Budget proposals, the BSE benchmark Sensex zoomed 2,314.84 points or 5 per cent to close at 48,600.61. During the day, it jumped 2,478.63 points to 48,764.40. This was the best Budget-day gain for the markets since 1997, analysts said. Following the extremely positive market sentiment, the market capitalisation of BSE-listed companies rallied Rs 6,34,069.67 crore to Rs 1,92,46,713.70 crore.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
The Sensex posted its biggest single-day jump in over a decade at 1,921 points and investors' wealth soared by a staggering Rs 6.8 lakh crore after Finance Minister Nirmala Sitharaman delivered a surprise cut in corporate tax rates on Friday.
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
A fourth of the property market is cash-based and this has affected home sales after high value notes were scrapped.
'Investors should reduce cash gradually and look for value investing.'
Experts said equity raising was also hampered due to flight of capital from foreign investors. FIIs have sold more $500 million (Rs 3,200 crore) in October.
Average salary has grown faster than average business income for three of the last five years. This has implications in a country like India. Most people in India are self-employed, with 51.4% of the population falling in that bracket.
The surge in IT, auto and FMCG stocks were led by investors seeking safety against market volatility.
Experts say a lot of new wealth is being generated by promoters selling their stake.
The market last tumbled 10% or more in December 2016 following demonetisation. The decline was followed by a sharp rebound. This time the chances of such a v-shaped recovery are less.
UltraTech currently has 19% market share with Shree Cement commanding 22% of the market
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
Even as rising crude oil prices, trade war fears and a sliding rupee cast a shadow on market sentiment, Nischal Maheshwari, chief executive officer for institutional equities and advisory at Centrum Broking, tells Puneet Wadhwa that in the next one year, the outcome of the 2019 general election is a bigger challenge for the market.
'But you cannot encroach upon the spaces that belong to the public.' 'For this new Parliament building, we envisage a minimum of 400 trucks, the huge long trailer trucks will be coming in day in and day out right into the heart of the national capital.' 'It will completely destroy Delhi's peace.' 'The beautiful sylvan surroundings of the quiet, beautiful, New Delhi is going to be destroyed for all time to come.'
Reserve requirements, mandatory investment in G-secs under Companies Act may slow lending for HNI investment in IPOs.
Yes Bank was the top gainer in the Sensex pack, surging 3.76 per cent, followed by SBI at 3.18 per cent.
The consolidated entity can target good growth FY18 onwards, analysts say.
Metal shares were the top gainers with Hindalco up over 5%.
Markets end in green with auto, banks on a steady climb.
Reports have suggested Rs 400-650 as the possible IPO price
A tally around 150 in Gujarat can see the index hit 10,700 levels going ahead
'The approach towards Mallya is not right because his unit could have been turned around earlier with additional funds from his side and the bank's side.'
Raghuram Rajan's decision to go back to academics might spell short term negativity for the stock, currency and bond markets.
Jindal's house was raided by the CBI on Tuesday.
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Bigger and broader indices do relatively poorly as investors get selective; experts see opportunity if scrips chosen with care.
In Q3, E&P business accounted for just 1.5% of gross revenue
Wiping off nearly Rs 4 lakh crore of investors' wealth during the day, benchmark Sensex crashed on Friday.
While office and mall properties enjoyed revival and saw some big PE deals, residential real estate was hit by double whammy - stagnating prices and demonetisation
Fifteen months after taking power, Modi's credibility as an economic manager is on the line.
Sensex witnessed the biggest single day gain since May 2009 in absolute terms.
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