L&T was the top loser in the Sensex pack, dropping 4.99 per cent, after the engineering major posted a 45 per cent decline in consolidated net profit for the September quarter. Titan, ONGC, Axis Bank, HUL, NTPC, M&M and HDFC were the other major laggards, shedding up to 3.32 per cent. NSE Nifty fell 58.80 points or 0.50 per cent to 11,670.80.
In the third infrastructure sharing agreement between firms run by brothers Mukesh and Anil Ambani, Reliance Industries' telecom arm has agreed to use Reliance Communication Ltd's intra-city fibre network to roll out 4G services.
All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, says Financial Services Secretary Debasish Panda.
It is likely to have a similar tax efficient pass through status, for PPP and other infrastructure projects.
Sensex hit a record high of 27,225.85 and Nifty hit a record high of 8,141.90 in the intra-day trades today.
Select companies in infra, capital goods, private banks, auto, oil & gas, and mining could be considered by investors.
The fundamental issue between banks and fintech would be who will own the customer and who will be the service provider.
Rating agency Crisil on Monday said banking system can increase their funding capacity to the infrastructure sector by Rs 1,00,000 crore (Rs 1000 billion) over the next four years, without impacting their asset-liability profiles.
The latest to join the list of projects that have achieved financial closure are two power projects -- 1,050 Mw GMR Kamalanga Energy of GMR Energy coming up at Dhenkanal in Orissa and the second phase 300 Mw Rosa power project in Uttar Pradesh promoted by Reliance Power. Experts said financial closure for another Rs 100,000 crore worth of projects are likely to be achieved in this calendar year, mainly from the power and infrastructure sector.
The Indian Space Research Organisation on Sunday faced a blip in its plan to tap the small satellite launch vehicle market, as an anomaly in the placing of the satellites by the rocket led to deviation on its path thereby becoming 'no longer usable', Chairman S Somanath said on Sunday.
Over the past two decades, India has evolved economically as well as from the market's perspective.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
Operating margins for some companies dipped in Q3, 2021-22 but this sector could be nearing the bottom of the cycle in terms of profits.
Private participation remains lacklustre.
Finance Minister Nirmala Sitharaman presented her third Budget on February 1.
Piramal, controlled by billionaire Ajay Piramal, and APG will invest in local infrastructure companies through rupee-denominated mezzanine instruments.
As record stock market rally continues, the value of shares directly owned by next-generation business leaders at 20 major corporate houses has soared over 18 per cent to Rs 17,000 crore.
To attract capital into infrastructure projects, the ratings system needs a fresh look.
At India Economic Convention organised by India Foundation, Parekh said the country needs $1 trillion in the 12th Plan of which 47 per cent was to come from private sector, but it has not happened in the first two years of the Plan period.
Among other proposals, she said NRI portfolio route would be merged with the FPI route for seamless investment in stock markets.
Sorting infra mess will require a pragmatic approach by the Centre and states. It could take longer than the market expects
The government decided to withdraw its two nominees from the Maytas Infra board following the Company Law Board order handing over the reins of Maytas Infra, promoted by kins of disgraced founder of Saytam, R Ramalinga Raju, to IL&FS.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In a meeting with stakeholders last week, the authority mooted setting up a Special Purpose Vehicle along with airlines and state-owned oil marketing companies to develop common infrastructure to import ATF, among others, at Chennai and Kolkata airports. While AAI and OMCs will hold 76 per cent in the proposed SPV, the airlines will participate in the remaining 24 per cent equity.
More than 10% (40 of 498 companies) have lost at least half their market value.
Budget might turn out to be neutral for the sector.
'We have to make doing business in India easier.'
Key relaxations traced in final regulations.
Leeway on CRR and SLR was a long-standing demand from banks, which the RBI did not agree to till recently.
The assumption clearly was that project execution timelines would be adhered to and revenues would flow in as scheduled.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
If the government delivers its election promises, then activity in the industry should increase.
Yes Bank and Tata Motors were the biggest losers in the Sensex pack, slumping 8 per cent.
Two stock market experts discuss their wishlists for Union Budget 2017 with Rediff.com's Aslam Hunani.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore, the firm said in a statement. Net profit, however, fell 12.6 per cent sequentially -- breaking a six-quarter chain of quarter-on-quarter improvement.
As FIIs pull out of road projects, doubts have surfaced about the future of new highways and roads
'This will have a multiplier effect in generating more jobs.'
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
