Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
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.
State Bank of India partnered GE Capital in 1998 for its credit card business.
'Indians are great savers, but they are lousy investors.'
Sensex remained volatile through the day.
Radhakishan Damani is the only billionaire to see his wealth grow by around 20% during the lockdown.
'The virus of trust deficit seems to be taking a toll of the friendship built over the years by succeeding leaderships of the two countries,' notes Rup Narayan Das.
The wider Nifty hit a low of 10,033.35 before finishing at 10,044.10, down 74.15 points or 0.73 per cent.
Participants are eagerly waiting for the key macrodata -- IIP and CPI numbers due to be released later today.
India has asked refiners that owe about $6.5 billion to Iran for oil imports to build up dollar and euro balances to avoid downward pressure on the rupee if six world powers and Tehran reach a final nuclear deal.
The S&P BSE Sensex ended up 28 points at 25,844 and the Nifty50 ended flat at 7,915.
'It is a worrying trend as we are not seeing too much fresh capital being raised for new projects, plants, expansion or diversification. It's just private equity or venture capital or promoters cashing out.'
Foreign portfolio investors were net buyers in equities to the tune of Rs 119 crore, as per provisional stock exchange data.
Sensex sinks into red at close on growth concerns.
An NBFC must actively manage its collateral positions, differentiating between encumbered and unencumbered assets, and monitor such assets so that they can be mobilised in a timely manner, central bank says in circular.
RIL's December quarter performance is likely to be muted
The broader Nifty too fell for the second straight session and closed with a loss of over 62 points, or 0.54 per cent, at 11,520.30, after hovering between 11,496.85 and 11,602.55.
The rupee had lost 15 paise to hit two-week closing low of 60.68 against the dollar in yesterday's trade on consistent demand for the US currency from importers and some banks on strong global cues.
The broader NSE Nifty closed below the 10,600 mark by plunging 98.15 points, or 0.84 per cent, to 11,582.35 after shuttling between 11,567.40 and 11,751.80.
In a chat on rediff.com, Feroze Azeez offered valuable tips.
Investor wealth slumped by Rs 1.55 lakh crore on Thursday today, dragged down by massive selling in the stock markets where nearly seven out of ten shares closed lower.
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
S&P upgraded India's credit outlook to 'stable' from 'negative' earlier.
FMCG major ITC and private banking major ICICI Bank were the top Sensex losers
Pharma shares extended losses after the government's ban on combination drugs.
The S&P BSE Sensex ended down 371 points at 24,966 and the Nifty50 closed 101 points lower at 7,615.
Surprisingly, RIL scrip also fell by 2.73 per cent to 1,029.15, becoming the second biggest loser in the index
Equity benchmarks erased early gains after realty, capital goods, teck, auto, PSU, IT, power and bankex counters came under selling pressure, falling up to 1.28 per cent.
Index heavyweight RIL surged 3% to end above Rs 1,000 mark while IT majors were also the top gainers.
Shares of rate-sensitive realty, bank and auto sectors were on buyer's radar on Wednesday.
The 30-share Sensex ended down 604 points at 28,845 and the 50-share Nifty ended down 181 points at 8,757. The Bank Nifty ended down 602 points at 19,146.
The 30-share Sensex ended 53 points higher at 28,439 and the 50-share Nifty closed 18 points higher at 8,494.
A large number of successful IPOs ensured that the total investor wealth, measured in terms of cumulative valuation of all listed shares, rose by nearly Rs 6 lakh crore during the year to Rs 106.23 lakh crore
Nifty50 surged 87 points to end at 8,157, highest closing levels since Oct 29, 2015.
ITC, Sun Pharma, HDFC and Coal India were among the top gainers.
The Reserve Bank of India kept its policy interest rate unchanged at a five-year low of 6.50 percent on Tuesday.
Nifty September F&O series ended lower after seven consecutive positive series with Metal Index falling the most
Most adult Indians should have access to bank deposits, credit and remittance facilities as well as insurance and mutual fund products in the next decade, and technology will play a big role in this transformation, says Tamal Bandyopadhyay.
Government has forecast annual economic growth to rise to 7.4%.
