It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
Ranbaxy's financial services provider and promoter group company Religare along with Evercore Partners, a US-based leading advisory and investment firm, have formed a joint venture to launch a new private equity fund. \n
Three stockmarket experts give their best picks for the New Year.
Financials ended mixed despite the status-quo on key rates by the RBI. SBI, ICICI Bank and Axis Bank ended up 0.4-2.5% each.
The stock, which is a play on the growth story of Indian Railways, has corrected 15 per cent from its 52-week high level of Rs 2,072.95 scaled on March 9. Yet, this has not deterred brokerages from holding a bullish view on the stock.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Tata Steel was the top loser in the Sensex pack, sinking over 5 per cent, followed by SBI, IndusInd Bank, Bajaj Finance, HDFC Bank and NTPC. NSE Nifty tanked 371 points to 16,614.20.
Cross-border deals are back after a brief lull in 2009. And, investment bankers say 2010 is going to be the year of outbound deals.
In his first two years, Tyagi, a Himachal Pradesh cadre IAS officer, has implemented challenging stock market reforms and taken action against high-profile corporate entities.
Sebi's move to curb volatility didn't work for the market as rules were applicable for both long and short positions which makes difficult new long positions while short positions caused more price damage due to lack of liquidity.
At least four top brokerages -- Religare Enterprise, Edelweiss Capital, Emkay Shares and Stocks and Modern Securities -- have delayed their fourth quarter results.
Investors took the Yes Bank event negatively because it raises a question on the stability of the overall Indian financial system.
Low home loan rates by banks could put large players in an advantageous position over smaller non-bank players, believe analysts.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra answers reader queries on the stock market.
Over-expansion, bad management, and multiple allegations irreparably taint Malvinder and Shivinder Singh
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While cost pressures could partly offset the expected gains, given the currency hedging by companies the gains will not accrue immediately.
Rakesh Jhunjhunwala-backed Nazara Technologies is all set to hit the primary market with its Rs 583-crore IPO on Wednesday. The diversified and online gaming firm's three-day issue will run through March 17-19 and will be entirely an offer for sale (OFS). While 5.29 million equity shares will be offloaded via OFS by some of the shareholders, Rakesh Jhunjhunwala, who owns 3.29 million shares or 11.51 per cent stake in the company as of September 30, 2020, has decided to hold on to his stake. The issue has a price band of Rs 1,100-1,101 and will be available in lots of 13 shares and multiples thereof.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The Sensex resumed lower at 28,566.50 and dropped further to 28,183.32 before finishing at 28,227.39, showing a loss of 490.52 points or 1.71 per cent.
"This is a huge positive and is expected to bring in $8-10 bn capital in the industry."
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The investment is through the asset manager's holding company IIFL Wealth Management Limited.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Readying itself for a bank licence, Anil Ambani-led group's Reliance Capital on Wednesday said Japan's Sumitomo Mitsui Bank and Nippon Life would become its strategic partners in the proposed banking venture, with each having 4-5 per cent stake.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In the case of Indian equities specifically, all eyes will now be on the next RBI monetary policy scheduled for September 29.
The civil aviation ministry received 20 applications and it granted NOCs to sixteen companies between 2009 till now
All shares held by SBI in the five associate banks will stand cancelled after merger.
Stock markets will remain closed on Tuesday
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The report contains names of entities eligible for bank licences. It was not immediately known how many applicants have been shortlisted by the high-level advisory panel.
Implementation of the Seventh Pay Commission recommendations, One Rank, One Pension are the other triggers going ahead, analysts say
Markets taking cue on future rate cuts from RBI policy.
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