Jindal Steel and Power was the top loser down 10% followed by Hindalco, Tata Steel, Tata Power which ended down between 0.5-3% each.
'Pockets of mid and small-cap indices are showing exuberance and are discounting even FY23 valuations now.'
The optic fibre cable infra was with Jio Digital Fibre and the tower infra with Reliance Jio Infratel
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Capital gains tax is no longer exempt even for investors coming via Mauritius, hence FPIs are now classifying it as interest income to save on taxes.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The time is ripe for a merger of eight fund houses indirectly owned and controlled by the central government, says N Sundaresha Subramanian.
One of the finest minds on foreign exchange management, monetary and fiscal policies, on debt and currency markets, on bank management and governance, and indeed on almost every aspect of modern finance and banking passes into the ages.
Sensex ends lower; govt schemes in focus.
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).
Move to hasten rollout and, if successful, set a precedent for new banking firms.
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
WhatsApp on Wednesday said it expects to facilitate the purchase of "affordable sachet-sized" health insurance through its platform by the end of the year as part of its efforts to provide users in India with greater access to financial solutions. The Facebook-owned company noted that its 'Payments' feature is now available to users across the country (currently up to 20 million users) with support from banking partners - State Bank of India, HDFC, ICICI and Axis Bank.
The agency is looking at alleged "diversion of funds and financial reporting frauds".
PFRDA will invite bids to appoint pension fund managers.
The need to allow government shareholding in public sector banks to come down below 51 per cent
The recapitalisation, the finance minister said, will enhance the lending capacity of state-owned banks and help them come out of RBI's Prompt Corrective Action framework.
Subrata Roy turned up at a New Delhi stadium, best known for hosting the Commonwealth Games, last week as part of his country wide Abhaar Yatra.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
A lot of work is needed to be done on the part of the insurance sector behemoth, and the government, before it is ready for its market debut.
Lower reduction in fiscal deficit is to stimulate demand in a weak economic environment post demonetisation.
An open offer for acquisition of additional stake in a listed company can move forward only after issuance of 'observations' by Sebi.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
While Toyota will acquire 4.94 per cent shares of Suzuki, worth $ 908 million, the latter will make a $ 454-million investment in the biggest automaker of Japan. Premium products from the Maruti stable such as the Baleno, Ciaz and Vitara Brezza will be sold under the Toyota brand with small changes.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ashok Leyland, ITD Cementation India have more than doubled.
ICICI Bank was the top gainer in the Sensex pack, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.
The NSE 50-share Nifty also closed higher by 61.60 points, or 0.59 per cent, at 10,504.80 after shuttling between 10,513 and 10,441.45.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
It could be a matter of concern that foreign shareholders of the NSE are registered in tax havens such as Mauritius and Cyprus.
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
Most large fund houses, such as HDFC MF, ICICI Prudential AMC, Reliance MF, Reliance MF, Birla SunLife MF and SBI MF, have the backing of large banks or financial institutions, giving them reach and understanding, they say.
There would be no retrenchment of employees and that their services conditions would also not be affected post merger.
Currently, banks follow system of internal benchmarks, including Prime Lending Rate, Benchmark Prime Lending Rate, Base rate and Marginal Cost of Funds based Lending Rate.
Calling out the high real interest rates -- the differential between the policy rate and headline inflation -- as an impediment to investment, the SBI report said the RBI can cut rates by 0.35-0.50 per cent at its next policy announcement.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
Persistent capital inflows by domestic institutional investors and retail investors kept the markets in fine nick
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