BSE proposes two models for making gold trading and investment transparent
The latest circular from BSE that sought to cap the price movement of select scrips, especially the mid-, small-cap segments, traded on the exchange is not without a reason. A quick calendar year-to-date price check on the stocks from the categories put under 'Add-on Price Band Framework' by the BSE reveals a total of 210 stocks have seen their market price more than double. Among individual stocks, SC Agrotech, Adinath Textiles, Waaree Renewable Technologies, Steel Strips Infrastructure, Unistar Multimedia, Texel Industries, Raja Bahadur International and Hindustan Everest Tools from the BSE's X and XT group have rallied over 500 per cent during this period. Topping the charts is Gita Renewable Energy, which has zoomed 3,964 per cent to Rs 272.35 now from Rs 6.7 as on December 31, 2020.
Indian economy is doing well and the performance of domestic stock markets is not as bad as that of other nations.
Sources said that the capital markets regulator Securities and Exchange Board of India has come across quite a few cases where GDR route could have been used for round-tripping of funds in the name of capital-raising activities of listed companies from abroad.
Media Firm Zee Entertainment Enterprise Ltd (ZEEL) sold its sports channel Ten Sports to Sony Pictures Networks for a US$ 385-million (about Rs 2,579 crore) in an all cash deal.
The Adani Group on Friday said it has acquired 27.26 per cent equity stake in NDTV from Prannoy Roy and his wife Radhika Roy -- founders of the news broadcaster. "RRPR, an indirect subsidiary of the company and member of the promoter/promoter group of NDTV, has acquired a 27.26 per cent equity stake in NDTV from Prannoy Roy and Radhika Roy by way of inter-se transfer...," said a regulatory filing from Adani Enterprises. On December 23, Prannoy Roy and Radhika Roy had announced to sell 27.26 per cent out of their remaining 32.26 per cent shareholding in the NDTV to the Adani Group.
Above normal monsoon forecast and strength in Asian equities lifted sentiments.
You also avoid capital gains tax during redemption in case the gold price is higher, making them tax efficient.
There were no evidence of any kickbacks, inappropriate contracting or unreasonable expenses
'EPFO's investments this financial year should be Rs 1 lakh crore'
As of now, unlisted companies are not allowed to directly list in overseas markets without prior or simultaneous listing in Indian markets.
'The entire idea behind the serial bomb blasts was to strike fear in the minds of Indians.' 'I don't think the blasts were targeted to derail the Indian economy; the idea behind the blasts was retribution.'
The company faces a potential tax demand.
The number of times public sector undertakings (PSUs) have held conference calls with investors, their capital management, and debt financing are among the parameters that the Centre will use to judge their performance for the first time, a senior official in the know said. The government will evaluate PSUs for FY22 based on new parameters that were finalised by the Department of Public Enterprises (DPE) in consultation with the Department of Investment and Public Asset Management (DIPAM) last year, the official said. The government had included more conditions in the memorandum of understandings (MoUs) - used to set annual targets - that public sector enterprises sign with the DPE every year. These included a consistent dividend policy, which seeks to transfer dividends by PSUs every quarter; and market capitalisation or share price improvement over the sectoral index on an annual average basis for listed companies.
The Sensex jumped 412.23 points on Friday, braving heavy volatility during the day, amid the Reserve Bank of India maintaining status quo on the benchmark lending rate and buying in index heavyweights Reliance Industries Limited and ITC. The BSE Sensex climbed 412.23 points or 0.70 per cent to settle at 59,447.18. During the day, the benchmark hit a high of 59,654.44 and a low 58,876.36. The Nifty also gained 144.80 points or 0.82 per cent to finish at 17,784.35.
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
China is battling a property downturn, industrial overcapacity, sluggish demand and struggling exports.
Cairn said it had initiated arbitration.
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
On Wednesday, FIIs sold shares worth Rs 1,573 crore.
They now believe their money will be repaid after completion of the tenure of the instruments they have invested in, says Anup Roy.
The IIT-Madras alumnus, who moved to Canada for an MBA programme and settled there, is not new to investing in India.
Equity indices gave up early gains to close in the red for the third session on the trot on Wednesday, weighed by selling in banking and finance counters amid inflationary pressures and persistent foreign fund outflows. A weak rupee and lacklustre global cues also kept buying sentiment in check, traders said. The 30-share BSE Sensex opened on a firm footing but failed to hold on the momentum, finishing 237.44 points or 0.41 per cent lower at 58,338.93. On similar lines, the broader NSE Nifty dipped 54.65 points or 0.31 per cent to close at 17,475.65.
In a letter to the Prime Minister, the Women of Big Bazaar SOS group said: "Future Retail and Reliance had entered into an arrangement through which Future's retail stores will continue to be operated by Reliance. Reliance has also committed to clear all debts and dues owed by Future Retail to suppliers and vendors."
Congestion on Mumbai roads has become chronic.
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
He topped the list with a personal fortune of $4 billion.
The government on Friday modified FDI policy allowing unlisted companies to directly list on stock exchanges abroad to raise funds for acquisitions or retiring overseas debts, a move which may help India in containing high current account deficit.
Banking shares are down up to 11% after the Reserve Bank of India has increased the policy repo rate by 25 basis points from 7.25% to 7.5% with immediate effect.
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Cairn India said it has always been fully compliant with all Indian income tax laws.
At the end of October, Sri Lanka President Maithripala Sirisena handed over the deeds for the transfer of 116 hectares in Colombo Port City to China Harbour Engineering Company on a 99-year lease to build a financial centre.
Axis Bank was the top gainer in the Sensex pack, soaring over 13 per cent, followed by ICICI Bank, HDFC Bank, IndusInd Bank and Bajaj Finance. On the other hand, Sun Pharma, UltraTech Cement, Titan and Asian Paints were among the laggards.
Auto stocks are weighing on the indices.
The market intermediaries have also been told to appoint designated directors to ensure compliance with new norms, who would face penal action for any lapses.
The move will help increase participation of retail investors, providing momentum to the primary market.
The 30-share Sensex provisionally ended up 112 points at 28,555 and the 50-share Nifty closed 24 points higher at 8,561 after hitting a record high of 8,626.95.
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Modi had released the first batch of eight eight spotted felines -- five females and three males -- from Namibia into a quarantine enclosure at Kuno on his 72nd birthday on September 17 last year.
Investing in ETFs is similar to buying and selling shares on exchanges through your trading account, points out Ashwani Bhatia, MD and CEO, SBI Mutual Fund.
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