The Securities and Exchange Board of India's (Sebi's) proposal to re-introduce "hard underwriting" is seen as step to boost India's moribund initial public offering (IPO) markets. The regulator has proposed that in case an IPO fails to garner full subscription, the investment banker or a third-party can buy the unsubscribed shares. This practice was common during fixed-price issues prior to 1999. However, under the new book building regime, underwriting is allowed only to the extent of shortfall due to technical rejection of bids - this is referred to as "soft underwriting" and is rarely invoked.
The 30-share Sensex provisionally ended up 366 points at 27,275 and the 50-share Nifty ended up 132 points at 8,235.
'The Opposition parties will continue to woo Chandrababu Naidu even though he has said he will support the BJP.'
The decision was taken at a council meeting on Thursday after the home ministry wrote to the civic body to cancel the company's first right of refusal.
Pharma shares extended losses after the government's ban on combination drugs.
Given the economic trends, it might make sense to allocate some savings to gold.
Shares of ING Vysya Bank and Kotak Mahindra Bank rallied by up to 6% on the BSE on reports that Kotak Mahindra Bank in final stages to buy the bank.
Standard and Poor's raised the outlook for India's "BBB-minus" rating back to "stable" from 'negative,' saying Prime Minister Narendra Modi government's 'strong' mandate would allow it to implement fiscal and economic reforms.
Sensex closed the day 416 points higher.
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
A long crisis with a lack of sound short-term, long-term actions can result in sluggish growth in India, similar to that in Japan.
Rate-sensitive sectors like banks, auto and realty witnessed strong buying demand in trades today
The question mark over Vodafone Idea's survival is gone after the government's telecom package, managing director and chief executive officer Ravinder Takkar said in an interaction recently. The extended moratorium for spectrum payments and adjusted gross revenue (AGR) dues has indeed ensured that Vodafone Idea survives, at least for the time being, but questions remain. Answers to those questions may determine the future of Vodafone Idea and its power to stay in a difficult telecom market in the coming years.
Broad-based buying aided sentiment and the market registers record turnover at Rs 6.86 lakh crore
Sensex, Nifty end the day in red on unfavourable cues from global markets.
Investors globally pulled out more than $3 billion from equity funds focused on Emerging markets including India in a week amid concerns over the US Federal Reserve's plan of curtailing its stimulus drive starting later this year.
'The solution is to enable a graceful transfer of the deposit and funding 'franchise' from capital-deficient firms to capital-surplus firms.' 'This will expand credit intermediation, bring down its costs, and put the financial sector on a definite path of recovery,' argues former RBI deputy governor Viral Acharya.
Global disinflation has finally caught up with India's high-cost economy.
The rupee on Thursday plummeted to an over three-month low of 63.32 by losing 50 paise against the US dollar.
The rupee extended its fall for the fourth consecutive day by losing another 6 paise to hit a fresh one-month low of 62.31.
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.
After a volatile session, Sensex closed the day 563 points lower
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.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Benchmark share indices gained for the fifth straight session on Thursday led by index heavyweight Reliance Industries.
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.
Above normal monsoon forecast and strength in Asian equities lifted sentiments.
The broader markets are outperforming the benchmark indices.
'The toughest challenge is not to satisfy the luxury customer.' 'The toughest challenge is to satisfy the budget customer.'
Private-equity funds made an average annual return of just 7 per cent between January 2007 and December 2013 while the Sensex was up 11 per cent.
Referring to the COVID-19 pandemic, Modi said India has always prided itself as the first responder in the region - a friend in need.
Buying stocks during bad times can lead to good returns.
With scrutiny that comes with a public listing, Deepinder Goyal's leadership could face its sternest test yet.
What will be its impact on the banks's balance sheets? Since banks need to provide for 10 per cent of the loans restructured, they would need Rs 50,000 crores to Rs 80,000 crore for this purpose, notes Tamal Bandyopadhyay.
'The government has used the current macro situation to its advantage.'
Market breadth was weak with 1,260 advances and 1,597 losers on the BSE.
For the seven months since February 2014, the benchmark index surged nearly 27%.
The top gainers on the Sensex were Cipla, Bharti Airtel, Maruti Suzuki, Hero Moto & Sesa Sterlite.
Infosys, TCS, HUL and Reliance Industries were the top gainers of the day.
Sensex, Nifty put up a good show in closing trade.
