Reliance announced energy asset sales worth around $ 16 billion; end of the investment cycle in telecom; bringing net-debt to zero in 18 months; value-unlocking options for real estate and financial assets; listing of telecom and retail in five years; and focus on dividends.
Experts said the 20 per cent drop in the market poses a challenge for companies that have set the ball rolling on their IPO plans as valuations will now have to realign. This could entail more dilution or lowering of the issue size.
India's huge digital prowess and potential will play a huge role in enabling digital lending, says Romita Majumdar.
In order to determine whether this would be sound strategy for them, one needs to look at two issues: One, on the alliances being built globally between telcos, on one hand, and cloud service firms, on the other, especially with the advent of 5G; and two, how their business strategies in India will blend into with such a deal.
Without exception, the top four majors beat Street estimates across all parameters - revenues, profitability, or net profit growth. However, what stood out were the large deal wins reported by the big two, TCS and Infosys.
Top losers in the Sensex pack included M&M, SBI, Yes Bank, Asian Paints, HDFC, Tata Steel and L&T, shedding up to 2.55 per cent. The broader NSE Nifty settled 79.80 points, or 0.72 per cent, down at 10,996.10.
'This encourages escapism through the politics and economics of nationalism, made worse by tribalism or nativism, the package accompanied inevitably by the erosion of institutional bulwarks and therefore State capture by powerful businessmen,' notes T N Ninan.
Rating agency expects current account deficit to remain at a modest 1.4% at end of FY16 and stay at similar level till 2018
Investments totaling over $9.5 billion in Jio Platforms by a clutch of private equity firms, following social media giant Facebook's $5.7 billion mid-April investment in the company, helped overall.
'We are in the middle of an unprecedented SIP revolution.' 'Monthly inflow through SIPs will be Rs 15,000 crore to Rs 20,000 crore soon.' 'Traditional avenues of Indian savings like bank fixed deposits, gold or real estate are no longer attractive to invest.'
Who is to take their place? Will a new generation of entrepreneurs start up with better business sense, or at least better luck? But the so-called unicorns are mostly copy-cat entrepreneurs whose cash flow is funded by overseas (including Chinese) money, notes T N Ninan.
The 30-share Sensex, after opening on a strong footing, continued its upward march to hit an all-time high of 35,827.70. The NSE Nifty also hit a record intra-day high of 10,975.10, before finishing at 10,966.20, up 71.50 points.
The sentiment got support from better-than-expected earning results by select companies and continuous buying by domestic financial institutions.
'Everything will be decided by the Centre.' 'Universities will have no autonomy to start a new course or introduce a new syllabus.'
Cross previous high of $72 billion in 2007 as Indian promoters overcome the selling taboo. Abhineet Kumar reports from Mumbai.
The rupee fell to an all-time low of 61.21 per dollar, forcing the Reserve Bank of India to intervene to stabilise the currency.
Major gainers which contributed to the Nifty were ICICI Bank, State Bank of India, Reliance Industries, ONGC, Tata Consultancy Services, Infosys, Bajaj Auto, Tata Power and Larsen and Toubro.
The new executive director of Reliance Capital has big shoes to fill in every way.
Vodafone Idea will gradually lose market share given its weak balance sheet and limited financial flexibility, says Fitch.
'At a time when the economy is depressed, a pandemic is raging, and the Chinese are making noises on the border, the NRC could be resuscitated.'
You may invest even at current market levels provided you have an investment horizon of five years or more.
Notable losers were ONGC, Axis Bank, ITC, SBI, ICICI Bank, NTPC, Hero Motocorp, Sun Pharma and Bharti Airtel who fell by up to 2.80 per cent.
Among the stocks that have seen the largest cut by MFs, the DVR shares (shares with differential voting rights) of Tata Motors have seen a cut of 243 basis points (bps) in MFs' stake.
The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end.
The Nifty finished the day at 10,265.65, a hefty gain of 98.95 points, or 0.97 per cent, after shuttling between 10,270.85 and 10,195.25.
The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
Ideally, one should opt for a 5 to to 10- year period in an MF scheme or exit when the goal is reached.
Markets under pressure; IT financials grab spotlight.
In a range-bound trading, the BSE benchmark Sensex ended a shade higher by 1.57 points in the special 90-minute trading today as funds refrained from making any major commitments in the absence of global cues.
Russian firms expand their footprint in India. And take bigger steps to do business with India's private sector.
Several critics including some rating agencies have doubted prospects of meeting this ambitious fiscal deficit target.
In the Sensex pack, M&M was the biggest loser, tumbling by 6.66 per cent, followed by TCS dropping 4.14 per cent.
Reliance Industries Limited, the country's largest private sector company, is raising $2 billion through a 10-year overseas syndicated loan for funding its oil and gas exploration in the D6 block of the Krishna-Godawari basin.
The BSE Midcap index has declined 5.7% thus far in May 2018. In comparison, the S&P BSE Small-cap index has lost 5.6%
Sesnsex ended the day flat on heavy selling pressure.
In the broader markets, the BSE Midcap and Smallcap indices extended gains and were up over 1% each
The rupee resumed higher at 60.13 per dollar as against the last closing level of 60.20 at the Interbank Foreign Exchange market, and hovered in a range of 60.07 and 60.18 per dollar before quoting at 60.08 at 1000 hours.
The move to allow payments through digital wallets could give a fillip to distribution and reach for these investment vehicles, say experts.
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