Nifty saw the biggest weekly gain since the first week of September and comfortably maintained its crucial 8250 levels in today's session
The target of mopping up Rs 1.75 lakh crore from divestments of some of the public sector companies, including LIC and BPCL during the current fiscal, is on track and groundwork is being prepared for the goal, Chief Economic Advisor Krishnamurthy Subramanian said on Monday. On the COVID-19 pandemic, Subramanian said the impact of the second wave is lesser than that of the first one. In an interactive session, organised by Federation of Telangana Chambers of Commerce and Industry, the CEA said robust GST collections, over Rs one lakh crore per month for eight months in a row shows that consumption is picking up indicating positive signal for growth.
Government-owned companies are more generous in rewarding their shareholders with dividends.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
Banking services are likely to be affected for the next four days as employees of PSU banks plan to go on a zone-wise relay strike beginning with Southern region from Tuesday, after wage revision talks failed.
The Nifty PSU Bank pared losses to end flat after falling as much as 1.05%
'Flush with funds, lending became a cash management exercise.' 'Road projects, power generation plants, airports etc were financed left and right with apparently no regard for the projects' ability to repay,' explains S Muralidharan, former managing director, BNP Paribas.
The 50-component Nifty closed at 10,214.75, a solid gain of 96.70 points, or 0.96 per cent
The top 100 companies have accounted for 63% of the gains (Rs 51 trillion out of Rs 81 trillion), while firms beyond the top 100 have contributed 37 per cent (Rs 30 trillion).
From the 30-share pack, 18 stocks ended with gains led by SBI, which surged 27.58 per cent, and ICICI Bank 14.69 per cent.
'It really doesn't matter that investors getting allotments sell their IPO stock holdings on listing day because a new set of investors are entering.' 'This explains the continued rise in stock prices even after the first day of listing.'
Budget this year has allowed PSBs to bring down govt stake to 51%
Raghuram Rajan rejected the argument that inflation has come down largely because of "good luck" stemming from low oil prices.
Telecom, metal and healthcare came as dampeners.
There were more than three losers against every gainer on BSE
Covering-up of pending short positions on expiry of the July derivatives contracts and a strengthening rupee propped up the markets at high levels
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
India's state banks are under pressure to improve profitability.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
Cyber crime wing has been receiving 4-5 complaints every day involving impersonation
Banks in India must have a modern approach, suggests a panel comprising of banking bigwigs.
'Under Modi Ji's 'Jan Dhan Loot Yojana', another scam!' he tweeted.
Adani group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The group has maintained it complies with all laws and disclosure requirements.
When a former police constable was appointed Gujarat unit chief, everyone was surprised. Now workers are laying bets on when he will be elevated to the Union Cabinet, notes Aditi Phadnis.
Banks are clear that lending rates are not going to fall further, say Hamsini Karthik and Anup Roy.
'They want (the ownership and management of PSU banks) to pass into the hands of a private sector entity.' 'Ownership of these banks will go from the public sector to private sector.'
The mid-cap index fell while small-cap advanced.
Market breadth depicted strength. There were almost 3 gainers against every loser on BSE
'It is going to be a buyers' market and you will get a good number of companies at reasonable valuations and that's when one has to be very greedy.'
If a 5% to 10% fall in the equity market gives you sleepless nights, you are not cut out for a 75% to 80% allocation to equities and must reduce it.
Earnings growth, attractive valuations and change in FPI flows from negative to positive over the next 12 months are some of the key triggers for an upside. "A poor monsoon, high inflation and further rate hike are some of the key risks
The market breadth, indicating the overall health of the market, turned negative from positive
Trai chairman Rajiv Khullar says, India has to pull up its stocks in order to achieve financial inclusion.
NPCI has launched several consumer friendly systems including one that allows users to transfer money to people over mobile phones across India.
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
The Centre is in "mission mode" to fill vacancies in government departments and ministries. The Department of Expenditure is currently following up with other wings of the government to expedite pending appointments. Regular follow-ups are being made to fill the vacant positions, so that the stated target of eliminating 1 million vacancies is met by December 2023, ahead of the next Lok Sabha elections. Even as the nodal ministry for filling vacant positions in the government is the Department of Personnel and Training (DoPT), the Department of Expenditure's Establishment Coordination (Personnel) division is providing support for the recruitment drive.
The steep fall in rupee came on a day when the Reserve Bank of India in its first quarter review of monetary policy kept the all key rates unchanged but cut the gross domestic growth forecast to 5.5 per cent for FY'14 from 5.7 per cent earlier.
Rajan said the process of dialogue with the government did not reach a stage where he could have agreed to stay on
Improved credit profile may make you eligible to transfer your existing home loan to another lender at a much lower rate.
Among the states due for election next year are AP, Haryana and Odisha, which have a fair share of agri credit. If these states individually announced debt relief, the combined waiver would be at least around Rs 600 bn to Rs 700 bn. Clearly, this will be a frightening challenge for Indian banks.
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