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The Securities and Exchange Board of India (Sebi) on Monday relaxed the norms for valuing perpetual bonds. The norms, which had sought to value banks' deemed residual maturity of Basel III additional tier 1 (AT1) bonds as 100-year debt from April 1, were strongly opposed by the finance ministry. In a statement released on Monday, the regulator said the maturity would be 10 years until March 31, 2022, and would be increased to 20 and 30 years over the subsequent six-month period.
Heavyweights such as Coal India, L&T and SBI ran up losses, taking cues from overseas markets.
Bharti will move FIPB soon for increasing Axa's stake to 49%
Investment in market leaders with a safety-first approach could yield reasonable returns across sectors.
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.
Top losers in the Sensex pack included IndusInd Bank, Yes Bank, SBI, L&T, Tata Steel, M&M, Bajaj Finance, Vedanta, Tata Motors and RIL, tumbling up to 6.97 per cent.
The NSE Nifty too ended 58.60 points, or 0.54 per cent, higher at 10,967.30 after shuttling between 10,985.15 and 10,928 during the session.
Top gainers in the Sensex pack included Bajaj Finance, ONGC, Yes Bank, HDFC, HCL Tech, Tech Mahindra, TCS, ICICI Bank and RIL, rising up to 3.57 per cent.
Shares of ING Vysya Bank and Kotak Mahindra Bank rallied by up to 6% on the BSE on reports that Kotak Mahindra Bank in final stages to buy the bank.
Investors will maintain a cautious stance.
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
'At the first board meeting I chaired, I sensed that corporate governance is an issue in this company.' 'I started taking steps that may have aggrieved a few.' 'This has now become a mission I intend to accomplish before I step down.'
IT, FMCG and manufacturing sectors are less attractive to foreign portfolio investors
Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
The biggest gainers in the Sensex pack in Friday's session were Yes Bank, Bharti Airtel, Tata Motors, Vedanta, SBI and Axis Bank, spurting up to 3.05 per cent. The losers included HCL Tech, TCS, Infosys, Hero MotoCorp, IndusInd Bank and Sun Pharma, falling up to 1.55 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Rise in crude oil price and rally in global equities aided the sentiment
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Bond issuances dipped 31.4% during January-June
Investment guru and mutual fund expert Ashok Kumar, answers all your MF related queries.
In the first nine months of 2017, investment banks pocketed Rs 500 crore for helping companies raise Rs 30,853 crore through IPOs.
'Pockets of mid and small-cap indices are showing exuberance and are discounting even FY23 valuations now.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
As the government plans to take sector-specific steps to tackle the slump, Finance minister Nirmala Sitharaman will soon hold talks with representatives from various sectors to get and take steps so that the confidence of those sectors can be restored.
Sensex eneded 374 points higher on rate cut expectation from the RBI.
BSE Mid-cap index ended at a record closing high of 10499.86 and CNX Mid-cap index ended at a record closing high of 12672.85 levels.
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The 30-share Sensex lost 22 points to close at 27,090 and the 50-share Nifty gained 7 points to end at 8,121.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Major gainers include L&T, Asian Paints, Vedanta, Tata Steel, Coal India, Infosys, M&M, Adani Ports, Maruti Suzuki, Axis Bank, HDFC, Power Grid, ONGC, Tata Motors, Sun Pharma, ITC, IndusInd Bank, HDFC Bank and SBI
Bupa and Axa have already declared their intention to raise stakes.
'Our preference remains for the less-expensive industrial stocks, which are showing good earnings momentum.'
The optic fibre cable infra was with Jio Digital Fibre and the tower infra with Reliance Jio Infratel
European Investment Bank to set up office in India.
The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).
The BSE Mid-and Small-cap indices outperformed their larger peers rising 72 per cent and 52 per cent, respectively, during Samvat 2070.
Sensex hit a record high of 27,225.85 and Nifty hit a record high of 8,141.90 in the intra-day trades today.
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