ONGC was the top loser in the Sensex pack, shedding around 4 per cent, followed by NTPC, PowerGrid, M&M, Nestle India, SBI and HCL Tech. On the other hand, HUL, Bajaj Auto, Bharti Airtel, Bajaj Finserv were among the gainers.
In eight cases, the banks would violate the minimum public shareholding norms if their promoter, the Government of India, infused capital as announced.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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.
A section of analysts feel now may not be a bad time to buy select PSBs.
This comes even after the Indian ambassador there had said this would affect the interests of other Indian companies.
Jaitley said the government had earmarked Rs 25,000 crore (Rs 250 billion) for recapitalisation.
In a series of tweets reacting to banks led by State Bank of India taking over management control of troubled Jet Airways, Mallya said, "...Only wish the same was done for Kingfisher".
NTPC was the top gainer in the Sensex pack, rallying around 4 per cent, followed by Titan, SBI, HUL, IndusInd Bank and UltraTech Cement. NSE Nifty advanced 63.15 points to 15,746.50.
Bank of Baroda has relatively better position on impaired assets.
The move towards indigenisation of defence procurement creates new opportunities for India's military industrial sector. The Government of India (GoI) has so far released five lists of items for positive indigenisation - these should be manufactured in India, rather than imported. Each item on these lists represents an opportunity for some local firm.
The Nifty Bank index has come off 15 per cent from its peak in February, underperforming the benchmark Nifty which is down 6%.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Employees of public sector banks have called off the strike planned on February 25 and 26
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Officials also said that the move to send out the emails was a conscious choice as part of a communication strategy for public interest.
SBI remains a favourite of most brokerages in the PSB segment.
The government on Friday slapped an export tax on petrol, diesel and jet fuel (ATF) while also joining nations like the UK in imposing a windfall tax on crude oil produced locally. A Rs 6 per litre tax on export of petrol and ATF and Rs 13 per litre tax on export of diesel is effective from July 1, finance ministry notifications showed. Additionally, a Rs 23,250 per tonne tax was levied on crude oil produced domestically.
Domestic institutional shareholders, who together hold around 39 per cent stake in the National Stock Exchange, are unhappy with the exchange's strategy of not charging transaction fees in the currency derivative segment.
He alleged that the public enterprises department headed by Heavy Industries and Public Enterprises Minister Sontosh Mohan Dev has been "pursuing a much narrower agenda, in which governance reform of PSUs does not figure
Titan was the top loser in the Sensex pack, shedding over 1 per cent, followed by TCS, HCL Tech, Reliance Industries, UltraTech Cement and Bharti Airtel. NSE Nifty settled 45.65 points down at 15,814.70.
Sensex catapults 1,241 points and Nifty vaults 382 points in two sessions in a row.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
The Central Bureau has summoned Trinamool Congress's member of Parliament Abhishek Banerjee's brother-in-law in connection with a case of alleged illegal coalmining from the mines of the Eastern Coalfields Limited (ECL) in West Bengal's Asansol, involving the "kingpin" of the racket, Anup Manjhi, officials said on Friday.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 46 per cent jump in net profit for the three months ended June on the back of bumper earnings from oil and telecom businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 17,955 crore during April-June period -- the first quarter of 2022-23 fiscal year -- from Rs 12,273 crore in the year-ago period, it said a stock exchange filing.
Through anchor allotment, a firm can demonstrate the demand for shares by getting marquee investors on board.
To address the shortage of COVID-19 jabs in the country, the government is exploring the possibility of boosting production of vaccines, including identifying manufacturing sites for indigenously developed Covaxin outside India, sources said.
The current power crisis is mainly on account of sharp decline in electricity generation from different fuel sources and not due to non-availability of domestic coal, a top official said on Sunday. The above statement assumes significance in the wake of reports of many states, including Maharashtra, facing power outages due to shortage of coal. In an interview to PTI, Coal Secretary A K Jain attributed the low coal stocks at power plants to several factors such as heightened power demand due to the boom in the economy post COVID-19, early arrival of summer, rise in the price of gas and imported coal and sharp fall in electricity generation by coastal thermal power plants.
There is the larger issue of whether PSUs should be going through such elaborate tendering procedures when no private company follows the same procedures. In today's ultra-competitive world, it does seem an invitation to disaster.
Employees of public sector banks on Wednesday withdrew their proposed strike on Friday, called to protest the cases filed by the management of Central Bank of India against its employees for going on strike last month.
IndusInd Bank was the top loser in the Sensex pack, shedding over 3 per cent, followed by HUL, ONGC, ICICI Bank, Axis Bank, Kotak Bank, M&M and Tech Mahindra. NSE Nifty tumbled 154.25 points to 14,696.50.
HCL Tech was the top loser in the Sensex pack, skidding over 4 per cent, followed by Tech Mahindra Dr Reddy's, Wipro, TCS, Titan and Infosys. NSE Nifty plunged 167.80 points to 17,110.15.
ITC was the top loser in the Sensex pack, shedding nearly 3 per cent, followed by Tech Mahindra, Axis Bank, Asian Paints, TCS, HCL Tech, HDFC and Kotak Bank.
The Central Bureau of Investigation (CBI) on Friday issued summons to Trinamool Congress secretary general and senior West Bengal minister Partha Chatterjee in connection with the I-core ponzi scam, sources in the agency said.
The move to make the appointment process more robust comes after last month's arrest of S K Jain, chairman and managing director of Syndicate Bank last month, over graft charges.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Star Indian sprinter Hima Das has donated her one month's salary to the Assam government to help the state combat the dreaded COVID-19 pandemic. Das, an Asian Games gold-medallist besides being an under-20 World champion in 400m, is employed with PSU major Indian Oil as an HR officer in Guwahati.
This comes after the arrest of Syndicate Bank Chairman S K jain.
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