India has reached a significant milestone on Friday (November 28) by achieving Rs 100 lakh crore or 100 trillion market cap.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
'LIC's proposed investment will come out of what is technically called the 'policyholders funds'.' 'As the name implies, these monies belong to policyholders; that is, you, me and 25 crore others who have taken a total of 30 crore policies from LIC.' 'It is not the government's or LIC's money to play poker with,' says S Muralidharan, former managing director, BNP Paribas.
Focus to be on unbanked areas; initial capital is set at Rs 100 crore; India Post can apply.
ArcelorMittal could be interested in Bhushan Steel or Essar Steel, two of the five steel companies referred by RBI for insolvency proceedings.
IMF, which has also lowered its global economic growth forecast for 2016 and 2017 by a marginal 0.1 per cent to 3.1 and 3.4 per cent respectively, recommended six 'reform priorities' for India
Many CEOs said they plan to give special leave to women employees so as to encourage their participation in the workforce.
Indian elections are won and lost on 'negative' imageries and campaigns - but not certainly on 'negativity' as a political trait and electoral creed, asserts N Sathiya Moorthy.
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
The NSE Nifty settled the day 38.85 points or 0.37 per cent lower at 10,500.90 after shuttling between 10,590.55 and 10,456.65, intra-day.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
The bonds were available for seven years. Since these were not traded in the secondary market, redemption took place at maturity.
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
The session was marked by volatility and stock-specific action, even as the overall sentiment remains risk-averse, brokers said.
Two associations representing pilots and engineers have written to SBI chairman Rajnish Kumar proposing that they would take over the airline and can bring in up to Rs 7,000 crore.
Several factors seem to have corrected in India in the past six months, says the president of New Development Bank.
Rating agencies Crisil and Icra on Monday revised down their India growth projections for the current fiscal and the second quarter mainly due to the ripple effect of slowdown in global growth and mixed crop output. Crisil downgraded the India growth forecast by 30 bps to 7 per cent while Icra pegged the economic expansion at 6.5 per cent for the second quarter of FY2022-23. "We have revised down our forecast for real gross domestic product growth to 7 per cent for fiscal 2023 from 7.3 per cent, primarily because of the slowdown in global growth that has started to impact our exports and industrial activity.
'The aim is also to probe how the ministry and testing agencies made negligence in examining these OEMs, so that such negligence is avoided in the future.'
The bond market is not in a mood to reason with the Reserve Bank of India (RBI) on keeping yields low. The 10-year bond yields continued to rise for the fourth straight session to close at 6.202 per cent from its previous close of 6.135 per cent. The yield was at 6 per cent a week ago. The RBI wants the yields to remain at 6 per cent, but bond dealers say the central bank will have to step up its bond-buying programme.
'Credit expansion is probably the quickest way to get the economy going again.' 'Easy credit is like a shot of nitro in a race car: In timely, small, quick, doses it can give a tremendous boost but carried to extreme it can destroy the engine,' points out S Muralidharan, former managing director, BNP Paribas.
Securities and Exchange Board of India has given its nod to Bank of Maharashtra's initial public offering for Rs 10 crore (Rs 100 million) new shares of Rs 10 each with premium of Rs 13 per share, slated to hit the market on February 25, 2004.
The 30-share Sensex lost 12 points to end at 29,559 and the 50-share Nifty climbed 4 points to close at 8,914.
There is a lot of optimism across all markets and a large part of it is justified, says Samir Arora of Helios Capital Management.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
Only six sectors are likely to report good set of numbers in Q4 FY15.
Ahead of the 2023-24 Union Budget, the thinking at the top level of the central government is clear: Gross domestic product (GDP) growth of 6-6.5 per cent is a comfortable enough target for FY24 and the focus should be on fiscal consolidation to ensure that the sovereign cost of borrowing does not become prohibitively expensive in a high-interest rate environment, according to people in the know. Those aware of deliberations between the Prime Minister's Office (PMO) and the Ministry of Finance said while the Budget would look to strike a balance between infrastructure investment and welfare schemes, it is unlikely to be populist, though it will be the last full-year Budget before the 2024 Lok Sabha election. Incidentally, 6-6.5 per cent GDP growth is what the upcoming 2022-23 Economic Survey is expected to project for FY24.
In first half of year, firms raise more than banks on low US treasury rates.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
Investors who decide to enter medium to long-duration funds should be cognisant of the risk.
The middle class's long push to force the state to retreat from the economy may be reversing, says Ajit Balakrishnan.
The rupee appreciated 7 paise to 79.74 against the US dollar in early trade on Thursday as a positive trend in domestic equities supported the local unit. However, a strong American currency overseas and forex outflows restricted the rupee's gain, dealers said. At the interbank foreign exchange, the rupee opened at 79.72 against the American dollar, then went lower to trade at 79.74 against the greenback in early deals, registering a gain of 7 paise over the last close.
Political risk culminating from elections in the US and Latin America, and evolving right-wing populism in Europe could lead to substantial volatility, say Abheek Barua & Tushar Arora.
'The estimates of tax forgone on this item run into hundreds of billions.' 'And there is neither fairness nor rationality to support continuing with this tax holiday for just one class of investors, those who put their money in shares,' says T N Ninan.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'We are most bullish on all aspects of the financial sector -- private sector banks, even one state-owned bank, insurance, mortgage finance, broking, wealth management, gold finance, etc.'
NBFCs are mainly dependent on funding their operation from their own cash flows.
The US Fed on May 24 hinted at withdrawing its third round of quantitative easing, or bond buying programme, worth $85 billion each month, which began in the wake of the worst credit crisis in September 2008.
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