Sensex climbs higher on favourable global cues.
State-owned companies have been set stiff targets to increase accountability as they get ready for divestment. Nikunj Ohri explains why meeting them will be challenging.
The 30-share Sensex ended higher by 177.46 points at 28,885.21 and the Nifty gained 63.90 points at 8,778.30.
Privatisation or consolidation into half a dozen large banks might not rescue public sector banks from the crisis they find themselves in.
There would be no retrenchment of employees and that their services conditions would also not be affected post merger.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
State Bank of India (SBI) may carry out a planned Rs 10,000 crore sale of infrastructure bonds in the market this week, with the securities likely to be of 15-year maturity, sources told Business Standard. SBI, the country's largest bank, had last week said its board had approved the issuance of infrastructure bonds in the current fiscal year. It, however, had not mentioned the maturity of the bonds or when the sale would take place.
'We are working with a few housing finance companies to drive affordable lending because that's where we believe our sweet spot is.'
CII said working capital limit enhancement should be accompanied by relaxing norms related to collaterals.
Henry Kravis, co-founder of global private equity firm Kohlberg Kravis Roberts & Co, thinks India should go for a bad bank to deal with bad assets in banks. In an interaction with journalists in Delhi, he says there are plenty of opportunities in India. He was joined by India CEO Sanjay Nayar.
Motilal Oswal of Motilal Oswal Financial Services tells Puneet Wadhwa why he thinks the current market levels will sustain.
Seven consecutive sessions of decline in the equity market has eroded the wealth of investors by a whopping Rs 10.42 lakh crore and the benchmark Sensex has tumbled more than 2,000 points during this period. Concerns over more rate hikes by developed economies, weak global equity markets and fresh foreign fund outflows from the domestic market have dented investor sentiments. On Monday, the BSE Sensex dropped 175.58 points or 0.30 per cent to end at 59,288.35 points, marking a decline for seven straight trading sessions.
As many as 10 public sector banks could be out of the infusion plan because of Sebi's minimum public shareholding norms.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
India has a huge untapped population which doesn't have facilities for financial aid and insurance, and it is perhaps plausible to look at the option of having niche players catering to smaller sectors akin to non-banks and microfinance institutions in lending, said Rakesh Joshi, member (Finance & Investment), Insurance Regulatory and Development Authority of India (Irdai). Speaking at the Business Standard BFSI Insight Summit, Joshi said, "Today, most of our insurance companies operate at a national level. There is arguably a case for having differentiated operations, which cater to niche sectors the same way we have non-banking financial companies (NBFC) and microfinance institutions in lending." "The capital requirement for niche players may not be as large as those having national ambitions. "Enabling these niche players, which require lower capital, will enhance the penetration in areas which hitherto had not seen traction from large players," he said.
Benchmark indices Sensex and Nifty retreated from over one-week highs to close lower on Wednesday due to profit booking in banking, IT and metal stocks amid weak global trends. After a two-day rally, the 30-share BSE Sensex dropped by 90.99 points or 0.16 per cent to settle at 57,806.49 in volatile trade. As many as 19 of its constituents declined while 11 advanced. The broader Nifty slipped by 19.65 points or 0.11 per cent to close at 17,213.60 with 31 of its stocks ending in the red.
Financial planners advise against putting capital to work by anticipating what might go up or down.
Here is some background on the candidates seen as potential successors to Rajan at the RBI
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
The ripples from November 8 may be seen in next year's state budgets.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
MMFs are a good option for the current environment, observes Sarbajeet K Sen.
Tactical investors should have an investment horizon of around six months to one year, long-term investors should stick around for 10 years or more.
'Your decisions should not be driven by your view on the market, but by your objectives, risk appetite, and time horizon.'
'The government must find worthwhile private owners for some of the banks, increase the share of private sector banking in the system, and then ask the remaining government banks to face the discipline of the market and compete, or shrink into irrelevance,' says T N Ninan.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
SBI Capital Markets Limited, the merchant banking arm of SBI, is eyeing the twin accounts of HPCL and BPCL for managing the divestment programmes of the 2 oil cos.
'If you look at the order books of capital equipment companies or money deployed on the ground, there is forward movement in terms of actual investment by the private sector.'
IndusInd Bank, Kotak Bank, ICICI Bank, Sun Pharma, Bajaj Finance and Ultratech Cement were prominent gainers. NSE Nifty rose 176.65 points to 14,867.35.
In the past two months alone, four companies have garnered a cumulative Rs 22,400 crore via this route.
The 30-share Sensex is up 253 points at 29,263 and the 50-share Nifty has gained 68 points at 8,829.
Some lenders in talks with LIC for pvt placement
In a major step, SBI Capital Markets, India's leading investment banker, has decided to enter commodity broking and expand aggressively its online equity trading to take on competition from ICICI in the sector.
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
Through the past 12 months, the Bank Nifty has risen 55%
'Earnings will be the catalyst for markets to march higher from here on out.'
It is up to the bank management to decide which application gets to interact with the CBS
Recent tribunal rulings open prospects of large haircuts and barriers to auctioning of personal guarantees, among other issues
Systemically important banks are subjected to higher levels of supervision to prevent disruption to financial services in the event of any failure.
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