With more firms now offering stock options to their chief executives, the salaries of these managers are sky-rocketing.
While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
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The new provisions strengthen the hands of minority shareholders and will improve corporate governance.
The sharp rally in the markets thus far in fiscal 2023-24 (FY24) has left analysts struggling to find investment-worthy themes. The S&P BSE Sensex has surged nearly 7 per cent thus far in FY24 and hit a fresh 52-week high of 63,601.71 levels on June 22, mostly led by foreign institutional (FII) flows. "The Indian market has seen a broad rally in the past few months but headline indices have seen more modest performance. "We are not very clear about the reasons for the rally and the divergent performance and struggle to find ideas in the consumption, investment and outsourcing sectors after the sharp run-up in several of our favored sectors and stocks in the past two months," wrote Sanjeev Prasad, co-head, Kotak Institutional Equities, in a recent co-authored note with Anindya Bhowmik and Sunita Baldawa.
Various online platforms let you invest in direct mutual funds.
'For HNIs, shifting economic activities outside India by creating regional hubs for businesses is a better option.'
The Securities and Exchange Board of India's (Sebi's) planned research analyst regulations will also apply to proxy advisory services which provide advice on corporate governance and issue voting recommendations to institutional shareholders regarding company resolutions.
Infosys needs to be more innovative and disruptive with its product and services, keeping its focus on growth.
The board will first need to unpack IL&FS - it has 169 group companies with 24 direct subsidiaries, 135 indirect subsidiaries, six joint ventures and four associate companies, says Amit Tondon.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
The paper will invite comments on whether or not the royalty ceiling applicable till 2009 should be re-imposed.
The joint venture of Jio Financial Services and BlackRock to foray into India's asset management space could be disruptive but not disastrous for incumbent industry players, analysts said on Thursday. As an investment strategy, analysts suggest investors stay put in shares of those AMCs that consistently improve business metrics, and where market capitalisation-to-asset under management (AUM) valuation is not stretched. However, growth expectations of incumbent players may get trimmed in the medium-to-long term, analysts said, once the Jio-BlackRock JV unveils its plans, discounting the looming challenge as significant enough to dent their profitability.
The clarifications came directly from the board of directors.
Because they have become too big and pervasive and the time to regulate is long gone, points out Debashis Basu.
As many as 10 public sector banks could be out of the infusion plan because of Sebi's minimum public shareholding norms.
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Since the cash flows will be impacted in a big way, DLF will have to resort to selling non-core assets in a substantial and significant manner through the next few quarters.
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
On the 30-share index, Maruti was the biggest loser, shedding 3.60 per cent. Other major laggards were Yes Bank, IndusInd Bank, Tata Steel, Hero MotoCorp and NTPC -- ending up to 2.33 per cent lower.
Analysts say the Essar Group has been following a policy of delisting just when its businesses begin to record substantial upside, denying shareholders their share of decent returns.
Some big ones hoard cash unduly and others borrow to keep up payments to shareholders
The rupee ended higher for the second consecutive week.
Sebi has pushed for better corporate governance of listed companies through measures such as the need for a succession policy
The Indian diaspora remain bullish despite single-digit equity market returns since May 2014, says Pavan Burugula.
Corporate affairs ministry sending notices seeking details of fund disbursal
After a sharp outperformance in the mid-and small-cap segments in the first half of calendar year 2023 (H1-CY23), analysts are now turning cautious on these two market segments and suggest investors stay selective and look for valuation comfort and earnings visibility before investing. The S&P BSE Midcap index has surged 13.7 per cent in H1-CY23, and the S&P BSE Small-cap index gained 12.7 per cent during this period, data shows. The S&P BSE Sensex, in comparison, has moved up 6.4 per cent.
Investors also appreciate the role being played by the founders; analysts, too, remain unperturbed.
'Today, according to the law, you can't even claim legal expenses when fighting a case as a non-executive director unless you are acquitted. Given how high legal expenses are, that alone is enough to scare anyone away.'
Increase in surcharge will adversely impact fund managers planning to shift to India. As a matter of fact several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
Some overseas investors refuse to be part of roadshows, citing environment risks
There is positive correlation between crude oil prices and Indian equities and investors can expect more upside after the recent rally in Brent crude price.
Compared to their Indian peers, MNCs have higher return ratios.
It was a year of big gains for equity investors.
NTPC was the top gainer among the Sensex stocks, rising by 3.53 per cent. Coal India, ONGC and Sun Pharma also rose up to 2.41 per cent.
This is first time in 25 years that a benchmark equity index in India is trading at a P/E multiple of 40x or higher.
These transactions have come for shareholders approval because of requirements under the new companies law and amended listing agreements.
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
