Debt funds have exposure of nearly Rs 8,000 crore to Zee group papers. Aditya Birla MF, HDFC MF, Franklin Templeton MF, and ICICI Prudential MF have the highest exposure, reports Samie Modak.
A day after the Union Cabinet paved the way for the government reducing its stakes in Oil and Natural Gas Corporation (ONGC), Coal India Ltd (CIL) and NHPC, the shares of these companies fell 3.4-5.2 per cent on bourses.
The rupee came under pressure on demand from importers as the dollar strengthened overseas.
Radhakishan Damani is the only billionaire to see his wealth grow by around 20% during the lockdown.
The assignment was earlier given to global audit firm EY. But it has now been reassigned owing to 'certain conflict of interest', the Bengaluru-based company said.
The Centre has no objection to a proposal for setting up a panel of domain experts to look into strengthening the regulatory mechanisms for the stock market, the Supreme Court was told on Monday while it was hearing pleas relating to the Adani stocks rout after the Hindenburg report.
CreditSights has dialed back on its language on debt levels at richest Indian Gautam Adani's group but has maintained that the group's leverage is elevated. In a new note published after discussions with the group's management, CreditSights, a Fitch group firm, said it "has discovered calculation errors" in its recent debt report on two Adani Group companies but these did not change its investment recommendations. On August 23, CreditSights stated that the Adani group was "deeply over-leveraged" and may "in the worst-case scenario" spiral into a debt trap and possibly a default.
The global economy is fragile now. It continues to face both long-term and short-term issues.
FPIs, which are holding large exposures in Indian debt, could also be expected to book some capital gains as yields slide down
From the appointed date, the authorised capital of the private sector bank would stand altered to Rs 5,000 crore and the number of equity shares at 2,400 crore having face value of Rs 2 each.
The Sensex ended up 380 points at 27,888 and the Nifty advanced 111 points to end five points shy of 8,400.
The Sensex has slid 18.5 per cent from its January 2015 peak.
Investor wealth on Thursday soared by Rs 1 lakh crore, triggered by heavy buying in the stock market, with the BSE benchmark Sensex surging about 382 points to close at near six-week high levels.
Tata Consultancy Services (TCS) on Wednesday announced a mega-Rs 16,000 crore buyback plan at Rs 3,000 per equity share. In 2017 and 2018 too, TCS had undertaken buyback offers of similar sizes.
Labour Ministry has notified new investment pattern for EPFO.
So far the government has been silent on the charges being levelled, even after the stock price rout. Perhaps it is hoping for the share price to settle so that the matter goes away, predicts Aakar Patel.
The RBI is considering permitting FII and commercial banks to trade on Indian commodity exchanges.
Forbes said Prime Minister Narendra Modi's "economic experiments" barely affected India's billionaires while none gained more than oil-and-gas tycoon Mukesh Ambani, who cemented his decade-long hold on the top slot by adding a staggering USD 15.3 billion (67 per cent) to his last year's wealth to become one of Asia's top five richest.
Discussions are said to have been heating up over how long a tax indemnity clause, which is part of such deals, should run, according to multiple people familiar with the matter.
Overseas bourses may take similar action and stop providing data on foreign indices and commodities traded in India, Ashish Chauhan, chief executive officer, BSE said.
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
At a time when the whole world is going ga-ga over stocks and debt is too easy to borrow, do not forget gold, says Anil Rego.
India plans to launch trading of government bond futures within the next two months as part of efforts to deepen its financial markets, according to several sources involved in the discussions with the central bank.
The expansion in equity market volumes is driven by retail speculators indulging in heavy trading of complex derivatives that are economically unproductive, say Praveen Chakravarthy and T V Somanathan.
Sensex remained volatile through the day.
The majority of global equity trading and a significant proportion of trading in bonds, currencies, commodities and derivatives, is done on electronic platforms
'For someone who wants to invest for the future or his family, diversification is necessary.' 'Diversify across asset classes -- equities, gold, real estate, fixed income, commodities, and even cryptocurrency.'
LIC owns 3.69 per cent of the total listed universe based on available disclosures, the lowest since at least June 2009.
Besides the dairy business, the transaction also involves sale of 100 per cent shareholding in Sunfresh Agro Industries, a step-downsubsidiary of Prabhat, via a share purchase agreement, the company said.
Because they have become too big and pervasive and the time to regulate is long gone, points out Debashis Basu.
Decades after he received a letter from someone by the last name of Biden from Mumbai, soon after becoming a senator, Biden learned that his 'great, great, great, great, great grandfather' had worked in the East India Company. "There are five Bidens in Mumbai, India," Biden, then Vice President, told a Washington audience in 2015 at an event organised by the Confederation of Indian Industry and Carnegie Endowment for International Peace on the occasion of the 10th anniversary of India-US civil nuclear deal.
Nandan Nilekani said the co-founders have served the company "selflessly" and remain committed to the long-term success of Infosys.
Markets watchdog Sebi on Tuesday decided to tighten norms for utilisation of IPO proceeds by companies, introduce special situation funds to invest only in stressed assets and amend various regulations, including those on mutual funds and settlement proceedings. The board of Sebi, which met on Tuesday, also gave its nod for amending Foreign Portfolio Investor (FPI) regulations and introducing a provision for appointment or re-appointment of any person, including as a managing director or a whole time director or a manager, who was earlier rejected by the shareholders at a general meeting. Once the amended norms are in place, such appointments or re-appointments can only be done with the prior approval of the shareholders.
41 companies take back shares worth Rs 27,783 crore in FY17
Veteran banker Vikram Limaye will soon leave BCCI's Committee of Administrators to head the National Stock Exchange (NSE) and that will a big loss to the the already trimmed panel, said COA member Diana Edulji.
'Sebi has to make sure that investor interests are protected and at the same time, there isn't over-regulation so that companies don't get discouraged to list here.'
'The good news is that money continues to flow into India-focussed offshore funds.'
Reliance Capital and Reliance Home Finance said that PWC cited the companies' failure to convene audit committee meetings within the expected time, despite multiple letters of intent sent to them, as one of the reasons for the resignation.
A falling rupee and lower foreign buying in equities are signals investors should watch out for, says Devangshu Datta
'I can confidently say there will be another financial crisis soon enough, and probably more than one global crisis within the next century, given the increasingly integrated nature of the global economy.'
