Market regulator Securities and Exchange Board of India (Sebi) in its investigation against Indiabulls Housing Finance has found the mortgage financier non-compliant with regards to unavailability of certain information on its website as well as its internal policy. Thereby, it has directed the company to take corrective measures and inform the stock exchanges in a months' time. Several public interest litigations (PILs) and FIRs were filed against Indiabulls Housing Finance back in 2019, alleging irregularities, siphoning of funds, and other violations committed by the promoters of the company.
'The structural story of India is a multi-decadal story.' 'One should stay invested in that story and avoid reacting to what is happening globally.'
'The favourable rupee-dollar exchange rate, there are opportunities we can tap.'
The Asian life assurance business of AIG, is expected to set a price range for its initial public offering early next week and hopes to strike agreements with big 'cornerstone' investors who could take one-fifth of the shares sold a few days after that, the report said citing sources.
Among the Sensex firms, ICICI Bank and SBI led the index with the maximum gains of 4.68 per cent and 3.99 per cent, respectively. Other major gainers were Larsen & Toubro, Kotak Mahindra Bank and HDFC Bank. On the other hand, Wipro and Tata Motors defied the trend and traded in negative.
The froth in the small and midcap (SMID) space is limited to a few pockets, but regulatory scrutiny could lead to sustained volatility, observe India's top-drawer wealth managers. They add that they have been advising clients to reduce their exposure to smallcaps. Anand Rathi Wealth, which manages investor wealth through mutual funds (MFs), reports that its exposure to smallcap stocks, both through MFs and directly, has decreased by nearly 7 percentage points in the past few months, now standing at 23 per cent.
'Investors with foreign currency-denominated goals, such as foreign education or foreign travel, should go for US equity funds.'
'We emphasise the importance of not basing investment decisions solely on electoral outcomes.' 'Instead, focusing on investing in high-quality businesses capable of prospering regardless of the political landscape is paramount.'
Benchmark BSE Sensex closed above the historic 66,000-mark for the first time while NSE Nifty hit a new all-time closing high driven by heavy buying in IT counters and fresh foreign fund inflows. Optimism in global equity markets also helped the local markets maintain their winning momentum for a second day. The 30-share BSE Sensex jumped 502.01 points or 0.77 per cent to settle at its new all-time closing high of 66,060.90.
Domestic equity benchmarks ended marginally higher on Thursday, with the Nifty settling at a fresh record, amid mixed cues from global markets.
The insatiable greed for money and power is too large, too repugnant to thwart. And no one epitomised that better than Harshad Mehta, notes Dhruv Munjal.
Benchmark Sensex closed above the 85,000 level for the first time while Nifty scaled the 26,000 peak at close on Wednesday as fag-end buying in banking and power shares helped stock markets recoup early losses. After a see-saw trade during the day, the 30-share BSE Sensex rose by 255.83 points or 0.30 per cent to settle at an all-time high of 85,169.87. During the day, it surged 333.38 points or 0.39 per cent to hit a record intra-day peak of 85,247.42.
Jimmy Patel, MD & CEO, Quantum Mutual Fund, suggests some valuable financial gifts for your children.
RIL's Rs 53,124 crore rights issue was India's largest-ever rights issue. It was also the world's largest rights issue by a non-financial institution in the last ten years.
Hike in planned public-sector capital expenditure will be credit-positive for infra cos
Capital markets regulator, I-T department suspect tax evasion and market manipulation
Tata Consultancy Services has won the 'The Banker Technology Award 2003', co sponsored by the UK-based Financial Times Group and the Banker Magazine's, in the stock exchange category
To strengthen corporate governance practices and disclosure requirements, Sebi has notified new rules, including that top 1,000 listed firms will have to formulate a dividend distribution policy. The regulator has also put in place a framework in relation to applicability, constitution and role of the Risk Management Committee (RMC) and eased norms for re-classification of a promoter as a public shareholder, according to a notification dated May 5. In addition, the regulator has asked listed firms to make available audio and video recordings of analyst and investor meets on their websites as well as stock exchanges within 24 hours or before the next trading day and also notified rules regarding Business Responsibility and Sustainability Report (BSSR).
Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has terminated merger agreements with Zee Entertainment, which could have otherwise created a USD 10 billion media enterprise in the country.
Multi-Commodity Exchange of India is the only listed bourse in the country
'The voice which came wherever I travelled was that we are proud taxpayers. We are honest taxpayers. We want to continue to serve the country by being good taxpayers.' 'But what do you think about the kind of things you can do for us?'
Market experts say booking profits could be unwise. If you are nervous, go for dividend-yield stocks.
Mukesh Ambani has reclaimed the top position on the 2023 Forbes list of India's 100 Richest with a net worth of $92 billion. The fortune of infrastructure magnate Gautam Adani, who rose meteorically to overtake Ambani as India's richest person for the first time last year, has slipped to the second position. Adani's net worth, which includes that of his family, fell by a whopping $82 billion to $68 billion, after a report by US short-seller Hindenburg Research in January sent his group's shares tumbling.
People in full-time jobs should especially avoid intraday trading as it results in loss of focus and affects performance.
'Historically, equities have consistently outperformed debt, gold, property, and other assets over a reasonable period.'
'...you evaluate three key factors before committing your money.'
Educational technology company Byju's chief financial officer Ajay Goel has quit after completing the audit process for the financial year 2022 and will return to Vedanta, the company said in a statement. The edtech major has roped in industry veteran Pradip Kanakia as senior advisor, and president (finance) Nitin Golani has been given additional responsibility as India chief finance officer (CFO) to handle the finance function of the company.
From bhikshus of Ashokan 3rd century BC and medieval Sufis to Oxfam, Omidyar and Soros now, non-State actors have any real power only when they work in conjunction with a real State, asserts Shekhar Gupta.
The proposal to merge the Gujarat International Finance Tec-City (GIFT City) units of the National Stock Exchange (NSE) and BSE has reached an advanced stage, and both bourses could file an application before the National Company Law Tribunal as early as this month, according to a top regulatory official. Sources indicate that the merger proposal has received approval from their respective boards. Both the NSE and BSE are arch rivals when it comes to onshore trading.
The National Stock Exchange listed the Dow Jones Industrial and S&P 500 on its platform last week.
Manchester United ruled out holding new talks over a possible bid for the club by Malcolm Glazer, the Financial Times reported.
Finance Minister Nirmala Sitharaman on Tuesday said the securities transaction tax (STT) will be increased on futures and options (F&O) trade from October 1 to discourage retail investors from investing in the risky instrument.
Hindalco's first quarter (Q1FY23) results indicate healthy domestic volumes for aluminium and copper, and lower cost of production. Subsidiary Novelis saw weak volume trends but it managed to push operating profit margins on a better mix and pricing hikes. The weak global outlook on aluminium is a cause for ongoing concern.
Ambani and Adani account for a fifth of the net worth of all billionaire promoters in the country and half the combined net worth of the top 10.
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
Jack Ma, founder of China's e-commerce giant Alibaba suffered a major setback on Tuesday as Shanghai and Hong Kong Stock Exchanges suspended dual listing of the shares of his world's biggest initial public offer of $39.7 billion of the group's subsidiary - the Ant Group, 48 hours before the highly-anticipated trading was due to start. The Shanghai Stock Exchange surprised market investors with an abrupt announcement late on Tuesday that it will suspend Ant Group's IPO, as regulators and the public debate the balance between financial innovation and risk control, state run Global Times reported. According to media reports, the Hong Kong exchange followed suit several minutes later.
Few financial products could match its derivative contracts that always sold at a premium. But the exchange forgot one crucial link: to back its contracts with solid assets.
Markets regulator Sebi on Thursday came out with detailed modalities for implementation of the accredited investors framework, a move expected to open up a new channel of raising funds from sophisticated investors. The regulator has issued guidelines on eligibility criteria for accredited investors (AIs), procedure as well as validation for accreditation, procedure to avail benefits linked to accreditation and flexibility to investors to withdraw "consent", according to a circular. Sebi had earlier this month introduced the concept of "accredited investors" in the Indian securities market.
We have millions of newbie investors who are clueless about how to handle sudden and severe adverse market reactions, which arrive from time to time, observes Debashis Basu.
Gearing up to ensure greater compliance by companies to listing agreement, NSE is planning to increase its headcount to bring in more efficacy in its oversight role as a front-line regulator of the securities market.
