ICICI Bank was the top loser along with index heavyweights RIL, ITC and HDFC.
Fix India's real estate sector. Fix India's public sector banks, advises Tamal Bandyopadhyay.
RBI awaits fiscal stance, inflation to cool off to decide on rates.
Listing of LIC will help bring in greater transparency, public participation and also deepen the equity market.
Banks have Rs 10 trillion in stressed assets - Rs 7.8 trillion of bad loans and Rs 2.2 trillion of restructured ones.
There is also a lobby within the bureaucracy that wants to see Rajan's influence curtailed
Budget for 2022-2023 has returned to its agenda for protectionism in the name of creating a self-reliant India, points out A K Bhattacharya.
On October 27, the Reserve Bank of India had allowed start-ups to borrow up to $3 million or around Rs 20 crore a year either in rupees or any convertible foreign currency.
...but when they awaken, it's going to be overly optimistic to assume everybody will walk off the sleeping bed and come back to full life, Rajan noted.
RBI said at the current juncture, the all-out effort is to maintain and sustain, with the hope that when life is secure, resources, energy and time can be marshalled to rebuild and revive.
The US dollar surged to fresh one-year high after the Fed chief's testimony to the US Senate on Wednesday bolstered the expectations of interest rate hikes, though gradually.
There's only a slim chance of a substantial drop.
Top 5 losers include Lupin, Cipla, Sun Pharma, Dr Reddy's Lab and GAIL down 1.6%-11%.
Being one of the early commentators to flag economic slowdown and caution investors on corporate earnings, Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction.
In the Sensex pack, M&M was the biggest loser, tumbling by 6.66 per cent, followed by TCS dropping 4.14 per cent.
No discrimination on basis of gender, age, religion, caste and physical ability.
"I invite each one of you to become a partner in India's growth story. And once again assure you of our wholehearted support."
The government's stance in the face of uncertain prospects for the private sector has been that public sector investment will drive the system.
Much of the tardy reaction to competition is the result of LIC's legacy.
While everybody is talking about the vast potential of 5G, the uptake of such services in India depends on operators getting around 100 Mhz 5G spectrum. At the reserve price proposed by Trai, getting this spectrum will cost a telco around Rs 490 billion. Which amount could be difficult for operators to mop up, given the financial stress they are undergoing, says Kiran Rathee.
'Since the NDA took office in 2014, and aggressively since 2019, the Union government seems hell bent on centralising all power and resources, only to fail spectacularly.'
The ministry seeks to make lending requirements flexible for banks financing key stalled projects.
We require a very pivotal kind of leadership now from the central bank in order to work with the government
The policymaker said the RBI had not reached the point where specific actions were under consideration.
The minister further said the rupee will regain the ground it lost against other currencies in the past few days.
The government is mulling allowing foreign direct investment (FDI) in the country's largest insurer LIC, a move which would help overseas investors take part in the company's proposed mega IPO, sources said. The proposal is under discussion between the Department of Financial Services and Department of Investment and Public Asset Management (DIPAM). "Discussions have been going on for the proposal for the last few weeks. "It would also go for inter-ministerial discussions and would also require Cabinet nod," a source said.
Debt fund managers think the Reserve Bank governor might at best go for one rate cut in April.
Allowing it to lapse leaves you unprotected and can, in some cases, cause loss of premiums paid, experts tell Sanjay Kumar Singh.
The government is unlikely to come up with the IPO of Life Insurance Corporation (LIC) in the current financial year ending March 2022, as the valuation of the state-owned behemoth is taking more than anticipated time, and the preparatory work is still far from complete. There are still some issues that need to be addressed with regard to the valuation of LIC, a senior official of one of the merchant bankers said. Even after the valuation, there are several regulatory processes that have concluded, the official said.
'When an institution believes its knowledge and capability is superior to everyone, it behaves like a frog in the well.' 'And this is precisely the cause for the mess,' says J N Gupta.
'It will be best for investors to have a systematic investment plan in mid-cap and small-cap funds with a three-/five-year horizon.'
The Union Cabinet has cleared disinvestment of the country's largest insurer LIC and a panel headed by the finance minister will now decide on the quantum of stake dilution, a senior official said on Monday. The Department of Investment and Public Asset Management (DIPAM) had in January appointed actuarial firm Milliman Advisors LLP India to assess the embedded value of LIC ahead of the IPO (initial public offering), which is touted to be the biggest public issue in Indian corporate history. The Budget amendments to the LIC Act has been notified and the actuarial firm is expected to finalise the embedded value of the life insurer. Under the embedded value method, the insurance company's present value of future profit is also included in its present net asset value.
It can be noted that the rupee lost nearly 7 per cent since the beginning of May as FIIs have pulled out nearly $4 billion from the domestic debt, as bond yields fell on expectation of RBI cutting rates on Monday.
At the Mumbai launch of his latest book, The Third Pillar: How Markets And States Leave The Community Behind, former RBI governor Raghuram Rajan served up an interesting mix that included Taylor Swift, Donald Trump, privileged families and a strong dose of commonsense economics.
sharper-than-expected economic recovery back home, analysts say, can fuel a further rally in domestic cyclicals, industrials, and financials as global central banks continue with their easy money policy.
RBI Governor flayed easy monetary policy of central banks in advanced economies saying it is "more cause than medicine".
One of the finest minds on foreign exchange management, monetary and fiscal policies, on debt and currency markets, on bank management and governance, and indeed on almost every aspect of modern finance and banking passes into the ages.
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
A glance back at some of the important ups and down Indian Inc faced in 2018.
'Give cash assistance of Rs 75 per person per day and an android phone and you will see the economy reviving.'
