The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country's largest insurer LIC. Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said. "Government has finalised the book running lead managers and some other advisors for the IPO of LIC," DIPAM Secretary Tuhin Kanta Pandey tweeted. The divestment department had invited applications for the appointment of merchant bankers on July 15.
Despite the current bout of volatility, debt-oriented hybrid funds remain well suited for risk-averse investors.
.jpg)
In an hour-long chat on rediff.com on Friday, A K Prabhakar, senior VP and Head -- Equity Research (Retail), Anand Rathi Financial Services Ltd, discussed the best stocks to put the investors' money in.
At 12:25 PM, the barometer index, the S&P BSE Sensex was down 358 points or 1.3% at 26,368.
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
To manage anxious crowds, as many as 3,400 personnel of paramilitary and Delhi Police along with 200 quick reaction teams have been deployed at ATMs and banks.
One crucial revenue source that can help the government achieve its fiscal-deficit target is the proceeds from the sale of its stakes in public sector companies.
.jpg)
The Bharatiya Janata Party government at the Centre is firmly committed to ensure security all Northeast states said Prime Minister Narendra Modi while addressing a large gathering of BJP workers at the Sarusajai National Games stadium in Guwahati.
The bear market has lasted 10 months and the Nifty is down by over 20 per cent from its all-time peak of 9,119 in March 2015.
.jpg)
The Reserve Bank on Monday warned lenders against outsourcing their credit processing activities to third-party entities.
Food and fuel are two perennial areas of concern.
Urjit Patel as the new RBI governor whose focus is on taming inflation has lowered the probability of interest rate cut soon
Govt has already approached World Bank seeking termination of contract. The progress of the project was just 20 per cent though the contract was awarded in 2016.
Despite all of the PM's many strengths, it is increasingly clear that he does not necessarily have a coherent and clear worldview on matters of macro policy.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The department of investment and public asset management (Dipam) can also seek in-principle approval from the Cabinet Committee on Economic Affairs (CCEA) for strategic divestment of PSUs on a case-to-case basis considering investor appetite and sectoral trends.
Equity benchmarks erased early gains after realty, capital goods, teck, auto, PSU, IT, power and bankex counters came under selling pressure, falling up to 1.28 per cent.
Gains were led by realty, auto, capital goods, banking, infrastructure, metals, power, oil & gas, PSU and consumer durables sectors, which rose up to 3.30 per cent.
Instead of a consumption stimulus the government must address the NPA issue with a war footing and invest in infrastructure, affordable housing and exports, says Sanjeev Nayyar.
Most expect the Budget to be path-breaking.
After years of disappointing growth, the economy and the markets are poised for a breakout, notes Akash Prakash.
Losses largely came from the metal index, followed by power, infrastructure, realty, PSU, oil and gas, capital goods, FMCG, healthcare, auto and banking.
Initial public offerings (IPOs) by start-ups are bringing cheer to investors and investment bankers alike. After food delivery company Zomato, Nykaa has issued the fattest pay cheque to the managers of its share sale -- Rs 148 crore, or 2.8 per cent of its issue proceeds of Rs 5,300 crore. In absolute terms, this is the second-highest amount paid to investment bankers for handling an IPO, while in percentage terms, it is the highest for large IPOs (>$300 million) in the last one year, shows an analysis of the data provided by Prime Database, a primary market tracker.
'MFs have a combined exposure of Rs 3.2 lakh crore to NBFCs, out of which Rs 1.1 lakh crore matures by September 2019.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
ICICI Bank extended yesterday gains, rising 10% in two trading sessions
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The Bank of Japan's action has nullified the effects of the end of the US' quantitative easing programme but the dependence of foreign institutional investors remains a concern
Dr Rakesh Mohan, former RBI deputy governor, and Dr Pronab Sen, former chairman of the Indian Statistical Commission discuss the issues facing the Indian rural and manufacturing sectors and what the government must possibly do to improve demand and perk up the Indian economy
Sun Pharma was the top gainer after SPARC received Sebi nod to raise up to Rs.250 crore through a rights issue
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Government hits back, tells rating agency to introspect on processes.
Power, oil and gas, PSU, metal, banking, auto, capital goods, infrastructure and healthcare sector stocks witnessed heavy buying through the session.
The flows may stem and redemptions pressure increase following the market meltdown of Monday amid mounting cases of coronavirus infection globally.
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
Among Sensex constituents, Vedanta fell 3.40 per cent, followed by SBI 3.17 per cent, Yes Bank 3.11 per cent, Axis Bank 1.68 per cent, ONGC 1.60 per cent, Power Grid 1.52 per cent and HDFC 1.48 per cent.
Have conviction in your bets and use stop-loss as a defence mechanism to curtail losses.
Wondering if you did the right thing with your mutual fund investments?
