The government move comes after seeing the diagnostic study done by SBI Caps. On government request SBI Caps studied 15 state-owned closed down sugar mills. It recommended re-opening of eight mills, saying they were viable units.
Following a go-ahead from the Court, the two entities have put in place a mechanism to auction these properties.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
M&M was the biggest gainer in the Sensex chart, rising 6.51 per cent, followed by NTPC, PowerGrid, SBI, HDFC Bank, Asian Paints and Wipro. In contrast, Axis Bank, ITC, HUL, Nestle India and Sun Pharma were among the laggards.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
At the reserve price, these auctions will take the total fund raising to at least Rs 3,100 crore (Rs 31 billion).
TCS is the most valued Indian company.
Equity investors became richer by Rs 2.4 lakh crore as key benchmark indices Sensex and Nifty scaled new peaks in morning trade on Tuesday, amid persistent foreign fund inflows. Analysts said foreign institutional investors have reversed their selling strategy and have been consistent buyers during the last seven days. This momentum is a reflection of institutional confidence in the Indian market, they said.
Small and midcap schemes may impose restrictions on redemptions, cap employee withdrawals, and increase the exit load, while ensuring a proportionate liquidation of the portfolio during market crises to safeguard the interests of all investors. These measures have been outlined in the investor protection policies recently put out by mutual fund (MF) trustees. The policies for small and midcap schemes were prepared by MF trustees following directives from the Securities and Exchange Board of India (Sebi) earlier this month.
IPOs worth Rs 50,000 crore including Hyundai, NTPC Green Energy and Swiggy are set to hit the market in late October or early November.
rediffGURU Nikunj Saraf suggests considering small-cap, mid-cap, and multi-cap mutual funds.
Asia's richest man Mukesh Ambani drew nil salary from his oil-to-telecom-and-retail conglomerate Reliance Industries for the fourth straight year in a row while his children earned a sitting fee and a commission for being on the board of India's most valuable company. Ambani, 67, had capped his annual remuneration at Rs 15 crore from financial year 2008-09 (April 2008 to March 2009) to 2019-20 (FY20); and since FY21, he opted to forego his salary, due to COVID-19 pandemic, until the company and all its businesses were fully back to their earnings potential.
'IPOs have performed exceptionally well, with a notable increase in average ticket size from Rs 800 crore in the last financial year to around Rs 1,300 crore in this financial year.'
We do not expect any major price action at SBI counter as the swap ratio being largely neutral
Jason Unsworth is the founder and CEO of Atmosphere Intercontinental Airlines, which would establish a new premium airline group in four different countries.
The SBI board has given the largest lender an "in-principle" approval to invest in the capital-starved Yes Bank. The central board of SBI discussed the matter at a meeting on Thursday, it informed the exchanges.
Seven of the 10 most valued domestic companies together added Rs 1,31,173.41 crore in market valuation last week, with HUL and TCS emerging as the biggest gainers. Reliance Industries, Infosys, HDFC, Bajaj Finance and Wipro also saw a rise in their market valuations, while HDFC Bank, ICICI Bank and SBI suffered losses. The market capitalisation (m-cap) of Hindustan Unilever Limited (HUL) zoomed Rs 50,234.21 crore to Rs 6,15,016.63 crore.
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rediffGURU Ulhas Joshi answers your mutual fund queries.
The base price for the property was set at Rs 150 crore (Rs 1.5 billion).
The country's six largest smallcap schemes would require more than 20 days to liquidate half of their holdings, despite most of them maintaining high cash levels and having considerable exposure to more liquid largecap stocks, stress tests conducted by fund houses reveal. For midcap funds, the time required to sell half of the assets of the top six schemes varies between seven and 34 days, according to disclosures made by asset management companies. The Securities and Exchange Board of India (Sebi) had called for such tests in the face of strong inflows into smallcap and midcap funds, despite concerns over high valuations, to keep investors better informed.
ICICI Bank's valuation tumbled Rs 6,883.44 crore to Rs 3,48,532.24 crore, taking the worst hit among the top-10 firms.
A series of failed loan recast programmes continues to haunt banks.
In the top 10 list, only HDFC Bank and HDFC suffered losses in their m-cap for the week ended Friday.
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While Tata Consultancy Services, HUL, ITC and Infosys saw a rise in their market capitalisation (m-cap) for the week ended Friday, RIL, HDFC Bank, HDFC, Maruti Suzuki India, SBI and Kotak Mahindra Bank suffered losses.
Bidders have to deposit a security fee of Rs 25 crore as well as minimum guarantee fee.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
The Adani group has the maximum number of companies in the trillion club at five, followed by the Tata group (four).
SBI Life Insurance on Wednesday hiked its paid-up capital to Rs 250 crore (Rs 2.5 billion) from Rs 175 crore (Rs 1.75 billion) and foreign equity in the company may go up to 49 per cent if the government hikes the foreign direct investment limit in
The market capitalisation of the BSE-listed companies reached an all-time high of Rs 220.74 lakh crore on Thursday, helped by a bullish sentiment in the equity market. At the close of trade, their market capitalisation stood at Rs 2,20,74,421.11 crore. The 30-share BSE benchmark closed 97.70 points, or 0.19 per cent, higher at 51,115.22 on Thursday.
It couldn't be immediately ascertained whether he has partnered with any entity or airline for the bid.
'To achieve a corpus of Rs 10 crores in the coming years, I would suggest you increase your SIP, advises Nikunj Saraf, vice president, Choice Wealth.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
Among the Sensex constituents, 20 stocks ended the session in green with HDFC Bank, Titan, Tech Mahindra, and Asian Paints being the major gainers. TCS, Maruti, Kotak Mahindra Bank and Bajaj Finserve were the other gainers. In contrast, SBI, Bharti Airtel, JSW Steel, PowerGrid, ITC and Reliance closed the trading with losses.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries:
The lenders are offering 31.2-75 per cent stake in the company on a fully diluted basis.
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