However, RIL has exceeded the mandatory 2% prescribed limit, spending the maximum amount of Rs 761 crore
Infosys, TCS, HUL and Reliance Industries were the top gainers of the day.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
'If this first instalment of advance tax is paid by June 30, instead of June 15, then the interest on delayed payment will be levied at 0.75% per month instead of 1% per month,' notes Homi Mistry, a partner with Deloitte India.
'If an investor is ready to stay put for the next five years, one can consider investing in mid- and small-cap funds, but through SIPs.'
Under the watchful eyes of five wise men, who know the industry well, banks will not find it easy to hoodwink the system, says Tamal Bandyopadhyay.
'I was shocked by the kidnapping episode. I could have lost my life.'
Reflecting the bearish mood, all sectoral indices, led by metal, teck and healthcare, ended in the negative zone.
HDFC Life has a balance between traditional policies and Ulips
The 30-share Sensex provisionally ended up 366 points at 27,275 and the 50-share Nifty ended up 132 points at 8,235.
A glance back at some of the important ups and down Indian Inc faced in 2018.
Sun Pharma stock has appreciated at 35% a year for 20 years
Inflow of more funds is likely to widen the reach of insurance and drive M&A activities in the sector where growth has stalled.
Investors indulged in profit booking at attractive and higher valuations
The 30-share Sensex ended higher by 30 points.
The Congress vice-president's office and staff have been revamped after the party's electoral defeat in 2014
Additional levy to eat into Rs 6,000-crore income of top promoters
Highest-ever mobilisation in first half of any fiscal year; bankers expect the trend to continue, given strong pipeline
'When Pinnacle Trust bought the stake of Supreme Energy, it included a liability of Rs 640 million. The purchase was at a fair market value (prevailing price) of Rs 8.80 per share,' Deepak Kochhar said in a telephonic conversation with Business Standard.
Analysts mostly prefer domestic plays beside select films with foreign exposure.
Increasing awareness about mutual funds, ease of transactions through digitisation and sharp surge in equity markets have aided asset management companies to add a staggering 3.17 crore investor accounts in 2021-22, with experts saying the trend is likely to continue this fiscal as well. This was a significant rise from 2020-21 when 81 lakh accounts (or folios in mutual fund parlance) were opened, data with the Association of Mutual Funds in India (Amfi) showed. The ongoing financial year too appears to be promising in terms of folios as increase in investor accounts will enable people to move beyond fixed deposits and savings accounts, said Priti Rathi Gupta, founder of LXME, a financial platform for women.
India's top banker Chanda Kochhar shares valuable life lessons in a letter to her daughter.
Budget this year has allowed PSBs to bring down govt stake to 51%
Only double-income households can buy flats in India's top 8 cities, except Mumbai
Bupa and Axa have already declared their intention to raise stakes.
About 12 other lenders with combined exposure of Rs 1,200 crore likely to follow
Retail investors have matured and have moved away from investing in only in-vogue products, says the managing director and chief executive officer of ICICI Prudential AMC.
While the recent volatility in the secondary markets is a concern, experts believe the sentiment towards IPOs is still buoyant.
Chanda Kochhar, managing director of ICICI Bank, says the new government must take effective action bringing clarity around tax laws.
Two out of three times, the market has delivered positive returns.
Benchmark indices failed to sustain gains and retreated from day's high dragged primarily by the losses in metals, information technology and bank shares as investors started to book profits in late noon deals. Earlier, markets had scaled fresh all-time highs on the surprise post-budget rate cut by Reserve Bank of India (RBI). The 30-share Sensex ended down 213 points at 29,380 and the 50-share Nifty closed down 74 points at 8,922. Intra-day, Sensex reached the all-time high mark of 30,024.74 while Nifty touched the life-time high level of 9,119.20. In the broader market, both the BSE Midcap index and Smallcap indices, down 1% and 1.2% each underperformed the front-liners. Market breadth in BSE ended negative with 1,882 declines against 1,010 advances. A day after signing an agreement with Finance Ministry on inflation targeting, RBI surprised the markets with an early post-budget repo rate cut of 25 bps (basis points) to 7.5% from 7.75% which was again outside of central bank's scheduled policy review meetings as the earlier rate cut effected on January 15. "RBI's latest rate cut of 25 basis points, while a surprise in its timing is in-line with our expectations of a sharp rate-cutting cycle over the coming quarters. With inflation sustainably lower by 500bps, the RBI has in recent months acknowledged the scope for rate cuts and was only waiting for additional comfort that the government's fiscal policy would not play spoil-sport," said Dinesh Thakkar, chairman and managing director at Angel Broking in a note. Analysts at Karvy believe that further monetary policy action will depend on number of factors including easing of supply constraints, improved availability of power, land, minerals and infrastructure, fiscal consolidation, the pass through of rate cuts by banks and the expected monsoon. Citing weakness in some sectors of the economy and the overall global trend towards monetary easing as rationale for the rate cut the central bank also exuded confidence in the road map for fiscal consolidation as laid out in the Union Budget, 2015. Commenting on how the markets reacted to RBI's surprise move, K Subramanyam assistant vice-president (institutional research), Asit C. Mehta Securities said, "The unexpected cut did take the market by surprise .However, credit off-take is not dependant only on interest rates. A gradual revival in the economy would be of more help which would trigger credit off-take. Hopefully this will follow and RBI's action would prove helpful. From market point of view this is bullish as equity becomes more attractive vis-a-vis falling interest rates." On the macro-economic front, the HSBC services PMI rose to an eight-month high of 53.9 in February up from 52.4 in January indicating strong expansion in output across the sector. Respondents cited robust growth of new business as the principle factor for the increase in activity. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 773 crore on Tuesday, as per provisional data. Buzzing Stocks 9 out of the 12 sectoral indices of BSE ended in red. BSE Metal index, down 2.4% was the top loser followed by BSE Oil & Gas and Power indices, down 1.3% each. BSE Healthcare index, up 1.2% and BSE FMCG index, up 0.9% were the top losers. Bank stocks came under during late noon trades as traders booked profits at higher levels. However, RBI rate cut may encourage large lenders to cut their lending rates boosting demand for home and auto loans and provide funds for various stalled and new projects. Many stalled projects across the country are waiting for cash to restart work. The stock of stalled projects at the end of December 2014 stood at Rs 8.8 lakh crore or 7% of GDP. ICICI Bank ended down 0.1%, Axis Bank and SBI declined over 3% and HDFC Bank shed 1.5%. Sun Pharma gained over 6% on approval granted to Sun Pharma Advanced Research Company (SPARC) by US FDA for an antiepileptic drug. The product will be manufactured by Sun Pharmaceutical Industries at its Halol (Gujarat) facility in India. SPARC was formed in 2007 when Sun Pharma separated out its active projects in drug discovery and innovation into a new company. Dr Reddys Lab and Cipla have gained over 1% each. ITC gained over 1% after consecutive sessions of losses on the proposed larger-than-expected hike in excise duty on cigarettes in the Union Budget. The biggest ever auction of spectrum by the Department of Telecommunications (DoT) started on Wednesday in the morning where government expects to garner Rs 80,000-1lakh crore from the sale of spectrum. Idea Cellular gained over 2%, Reliance Communication gained around 1% and Bharti Airtel closed 0.5% higher. Metal stocks were under pressure in today's session. Hindalco declined over 3%, Sesa Sterliteended down over 4% and Tata Steel closed down 2%. Profit-taking in IT stocks led to Wipro losing around 1.8%, Infosys declining 0.7% and TCS losing 1.5%.
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
In July-Sept 2016-2017, TCS had missed street expectations with 7.8% growth in revenue.
A customer wanting to buy a car would have to wait a long time for delivery.
The 30-share Sensex closed down 115 points at 28,444 and the 50-share Nifty ended down 31 points at 8,524.
The breakdown of talks between Greece and its international creditors raised fears of Greece's exit from the euro zone.
Half a dozen companies looking to tap the market as the Indian rupee stabilises and oil prices cool down.
Sensex is under pressure due to concerns in the global market.
After a 25-year stint at ICICI Bank, Mor suddenly quit as he wanted to add more value in the bigger areas of health care and financial inclusion.
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