The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said. Finance Minister Nirmala Sitharaman had last week reviewed the progress of the initial public offering (IPO) of Life Insurance Corporation (LIC) in a meeting with top officials of the ministry. The official said the September 2021 quarter financials of LIC are getting finalised as well as fund bifurcation is in progress.
Taxation has played spoilsport despite double digit returns.
Reliance Industries raced to 52-week high on better than estimated earnings and announcement of bonus share.
Jaitley said the government had earmarked Rs 25,000 crore (Rs 250 billion) for recapitalisation.
A case has been registered at the Kotwali police station on a complaint filed by the Trust's secretary and Vishwa Hindu Parishad leader Champat Rai, a senior police official said.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
About 24 fund houses saw a decline in their debt AUMs in the past one year.
Low home loan rates by banks could put large players in an advantageous position over smaller non-bank players, believe analysts.
The IPO is an offer for sale of 38 million shares by SBI, BOB, LIC, PNB and T Rowe Price. Barring T Rowe and PNB, the others are selling stake to comply with Sebi norms.
BSE benchmark Sensex nursed losses on Friday as investors pocketed gains after a five-session winning streak amid a bearish trend overseas. A depreciating rupee and foreign fund outflows further soured risk sentiment, traders said. The 30-share gauge, which had started the trade on a firm note, soon gave up all the gains and finally ended 651.85 points or 1.08 per cent lower at 59,646.15. The broader NSE Nifty snapped its eight-day rally to close at 17,758.45, down 198.05 points or 1.10 per cent.
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
From the enactment of the capital control Act to the recognition of the BSE as a stock exchange and the infamous Harshad Mehta scam, here are the 18 biggest events for stock markets from 1947 to 1993.
'EPFO's investments this financial year should be Rs 1 lakh crore'
According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
Wondering if mutual fund investments can help you make you enough money for your retirement and child's marriage? Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
Jet's operating fleet reduced from 103 planes in October 2018 to 35 now, leading to massive cancellations and a surge in airfares
SBI was the top loser in the Sensex pack, shedding around 3 per cent, followed by Kotak Bank, IndusInd Bank, NTPC, ICICI Bank, Axis Bank and HDFC Bank. On the other hand, HUL, ITC, L&T, Bajaj Finserv and Tech Mahindra ended with gains.
HNI investors need an optimal mix of oversubscription and listing-day gain to make money on leveraged bets, notes Sanjay Kumar Singh.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
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.
Inflation indexed bonds assure a positive return over inflation.
UTI's legacy and brand recognition, together with a robust distribution network and access to public sector money, could work in its favour, and help it command a premium
RBI on Monday conducted an unprecedented level of liquidity infusion to the tune of Rs 3.3 lakh crore, in which banks bid for as much as Rs 4.5 lakh crore. The central bank said it would conduct a liquidity infusion auction of Rs 1 lakh crore on Tuesday as well, to help banks tide over the liquidity crisis.
As and when the GST comes in, Budget projections will have to be unbundled and revised. In fact, the pragmatic decision would be to present another Budget! This makes the passage of the Finance Bill with its multiple unrelated amendments seem even more dubious, says Devangshu Datta.
In another development, SBI Capital Markets, which had issued the expressions of interest on April 8, extended the deadline for submission of initial bids to April 12.
The Employees' Provident Fund Organisation and the Labour Ministry are in touch with the Prime Minister's Office for the purpose, a senior official said.
'Everyone is still trying to understand the quantum of impact demonetisation will have on the economy.'
State Bank of India hikes lending rates, and other banks pick up the signal.
'Is taxable amount above 1 Lac is also to be shown as income from other sources?'
In the 30-share Sensex constituents, 16 ended lower and 14 gained, helping the benchmark indices trim losses.
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
A host of lenders, including State Bank of India, IDBI Bank, Indian Bank and Andhra Bank, have lined up meetings of their asset-liability committees this week, to review their lending and deposit rates.
Food ordering platform Zomato, whose Rs 9,375 crore IPO opens on July 14, is planning to launch a grocery section on its app soon, a senior company official said. The company recently invested USD 100 million (around Rs 745 crore) for acquiring a minority stake in grocery delivery platform Grofers. "It (grocery) is a large opportunity. The online grocery is nascent right now but is growing rapidly not just in India but across the world... "We are actively experimenting in that space and recently invested $100 million for a minority stake in Grofers, with the idea of getting more exposure to that space and building our strategies and plan around that business," Zomato CFO Akshant Goyal said.
In 2015, foreign investors slowed net buying of Indian equities.
The central bank is the money manager of the government, and not a guarantor of any debt.
'Largely, new demat accounts are now being opened by the younger crowd, particularly GenZ.' 'This is great news since younger investors start their journey with very little capital, so they are risking less.'
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.
'Mostly, the relief, if needed, would be for housing loans where a person has lost a job and is unable to pay his EMI or there has been a temporary salary cut.'
'The company's transition from an individuals-driven private firm to a board-driven listed public one will be carried out in a well-thought-through and well-executed manner.'
