The Yes Bank Reconstruction Scheme 2020, shall come into force on March 13, the gazette notification said.
All Sensex components ended in the red. SBI was the top loser, followed by ONGC, Axis Bank, ITC, Titan, Bajaj Auto, TCS and IndusInd Bank.
The optic fibre cable infra was with Jio Digital Fibre and the tower infra with Reliance Jio Infratel
SBI was the biggest loser in the Sensex pack, shedding 2.40 per cent, followed by Yes Bank, Bharti Airtel, L&T, Sun Pharma, M&M, ICICI Bank, ONGC, RIL, Asian Paints, Vedanta and HUL, which lost up to 2.37 per cent.
Earlier this month, market regulator Sebi had given go- ahead to the disinvestment department's proposal to give preference in share allotment to those PSUs located in states in which Neyveli's generating units were located.
The government cleared the proposal despite opposition from the petroleum ministry, which says this is not the right time for divestment as the sector is moving from trade parity to export parity pricing.
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
Finance Minister Arun Jaitley on Saturday proposed to infuse Rs 7,940 crore funds next fiscal in the public sector banks.
These bonds carry AAA/stable rating from Crisil. The tenure of this paper is expected to be 10 years. "The yields on the 10 year government bonds dipped from around 8.6 per cent at the end of September to about 5.7 per cent now. Hence, the bank will save on costs as it will be in a position to place bonds at lesser rates now," a senior SBI official said.
Lower reduction in fiscal deficit is to stimulate demand in a weak economic environment post demonetisation.
'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.'
However, the government's draft policy on e-commerce companies has forced consumer companies to also adapt to the changes. For Dabur India, e-commerce channel continues to be a key driver of growth in urban India. The contribution of online sales to its entire portfolio is at six per cent compared to 1.5 per cent before the pandemic.
the broader NSE Nifty settled 114.90 points, or 0.96 per cent, higher at 12,086.70. Axis Bank was the top gainer in the Sensex pack, rallying 4.21 per cent, followed by Vedanta 3.75 per cent, SBI 3.39 per cent, Maruti 3.20 per cent, IndusInd Bank 3.07 per cent and Yes Bank 2.87 per cent. Bharti Airtel slipped 1.98 per cent, Kotak Bank 1.38 per cent, Bajaj Auto 0.88 per cent, Asian Paints 0.31 per cent, HDFC Bank 0.05 per cent and HUL 0.03 per cent.
Among major Sensex gainers, ITC rose the most by 2.32 per cent, followed by TCS, M&M, SBI and Bharti Airtel.
Deal comes within days of Abu Dhabi's TAQA pulling out of agreement.
The initial numbers for the last installment of advance tax payment on Thursday by top corporates based in the financial capital present a tepid growth in the levy mop-up, with banking and financial institutions leading the pack.
The airline has proposed to raise authorised share capital to Rs 2,200 crore. This would comprise Rs 680 crore of equity capital and Rs 1,520 crore of preference share capital.
A key trigger for the increased retail participation in equities has been the lockdown triggered by Covid-19 that saw investors channelising their savings to capital markets in search of better return on their investments and the need to increase their disposable income.
These PSU banks also account for the lion's share of bad loans or NPAs plaguing the sector and need crores of rupees in new capital in the next two years to meet global Basel III capital norms.
Titan was the top gainer in the Sensex pack, rising around 4 per cent, followed by HDFC, Nestle India, IndusInd Bank, UltraTech Cement and Bharti Airtel. On the other hand, Bajaj Auto, Tata Steel and NTPC were the laggards.
The Securities and Exchange Board of India (Sebi) has directed Franklin Templeton MF to pay Rs 5 crore as penalty, return over Rs 450 crore collected as 22-month investment management and advisory fees, and imposed a two-year ban on launching new debt schemes for alleged irregularities in running six of its debt schemes that were shuttered last year.
The government may infuse about Rs 10,000 crore (Rs 100 billion) as equity capital in nationalised banks in addition to an identical amount in the country's largest lender, State Bank of India (SBI). Nationalised banks with the government holding closer to the floor of 51 per cent are likely to receive the capital infusion support.
One-sponsor-one-fund rule may set off merger as Amundi seen sponsoring two funds following buyout.
'Pockets of mid and small-cap indices are showing exuberance and are discounting even FY23 valuations now.'
Around 15 years ago, when Reliance Industries (RIL) struck natural gas in the Krishna-Godavari (KG) basin off the east coast, the government made plans to supply that fuel cheaply to scores of generators that sprang up in India triggered by the discovery. Most of the plants, which account for 6 per cent of India's total generation capacity, operate sparsely after the KG-D6 area first failed to meet production targets, and then finally shut shop. Affordable domestic gas was why those thermal plants came up and the rate of the fuel today is why those generators hardly operate. Record liquefied natural gas (LNG) rates may yet again unravel India's ambitions to expand use of gas in industries, households and vehicles. Rates, while volatile, may stay strong this decade as developed nations with higher purchasing power embrace gas as the transition fuel.
Top laggards in the Sensex pack included Kotak Bank, ICICI Bank, HDFC Bank, Tata Motors, L&T, SBI, Tata Steel and Axis Bank, falling up to 3.46 per cent.
Property sold via HDFC Realty for Rs 58 cr; 60 properties on sale via e-auction
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
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
To counter the pandemic, air transport was suspended from March 25 till May 24 which rendered zero traffic at AAI airports. Even after resumption of flights, traffic is yet to pick up at airports due to quarantine measures implemented by states and an overall fear of flying.
An advisory body of EPFO has rejected a proposal to engage private banks -- ICICI, Axis and HDFC Bank -- for collection of PF contribution from employers.
Domestic mutual funds (MFs) and foreign portfolio investors (FPIs) have been net buyers of stocks in August. Domestic fund houses have continued to invest in stocks, propelled by the success of various new fund offers (NFOs) and strong flows into equity funds. MFs had purchased stocks worth more than Rs 8,300 crore until August 23, according to the data provided on the Securities and Exchange Board of India (Sebi) website. Jimmy Patel, MD and CEO at Quantum AMC, says: "The surge in equity investments by MFs is because of two key reasons. One, equity NFOs are getting a strong response from investors, and fund houses need to deploy that money in the markets.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
All Sensex components ended in green, with Bajaj Finserv, HCL Tech, Bharti Airtel, IndusInd Bank, L&T, TCS, ONGC and ICICI Bank, Bajaj Finance and SBI gaining up to 6.64 per cent.
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.
Prefer proposal for airline to float bonds guaranteed by govt.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
PowerGrid was the top gainer in the Sensex pack, rallying over 4 per cent, followed by NTPC, UltraTech Cement, Tech Mahindra, Reliance Industries and IndusInd Bank.
