Polycab India, Power Finance Corporation, Shriram Finance, and Union Bank of India appear poised to transition from the mid-cap to the large-cap category within the domestic mutual fund industry. Their market capitalisation (m-cap) now ranks among the top 100, which is the threshold for the large-cap universe defined by the Securities and Exchange Board of India.
Indian companies fare poorly compared to their Chinese counterparts in listing their stocks on the Nasdaq stock exchange in the United States.
The domestic currency spurted by 425 paise or 6.28 per cent in last five straight sessions.
The currency fell 3.4 per cent this week, and is below the levels at which it was trading on July 15 when the Reserve Bank of India unveiled its cash tightening steps to defend the currency.
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Analysts worry that without more fundamental reforms, India will struggle to contain its record high current account deficit and hence support the rupee.
For now, the rupee is likely to remain dependant on global factors. The dollar held on to broad gains on Thursday after Fed chairman Bernanke said the central bank still expected to start scaling back its bond purchase programme later this year, but left open the option of altering that plan.
Manchester United expect profits to fall back from last season's record levels after the club splashed out on new players to try to regain its place in Europe's soccer elite.
The S&P BSE Sensex plunged 128 points to end at 25,102.
More shares belonging to companies of the embattled Adani Group have been pledged as security for loans taken by the group's flagship firm, a trustee said. SBICap Trustee in notices to stock exchanges said that a further 0.99 per cent shares in Adani Green Energy Ltd were pledged "for the benefits of the lenders" of Adani Enterprises Ltd. An additional 0.76 per cent shares in Adani Transmission Ltd were also pledged to banks, the trustee said. SBICap, which is a unit of State Bank of India (SBI), however did not give details of the loans taken by Adani Enterprises for which the pledge was created.
India has lost out to China in the arena of one of the world's most respected stock exchange, Nasdaq, which has decided to launch a dedicated index of Chinese companies listed in the US.
Among index funds, the most popular products are funds tracking the Nifty 50 and Sensex, says Dwaipayan Bose, and explains the finer points of selecting the right index mutual fund.
MCX Stock Exchange, set up by crisis-hit NSEL's promoters, on Friday appointed Saurabh Sarkar as CEO and announced plans for fresh capital infusion by its existing shareholders among measures to boost business.
After creating history with its IPO earlier last month, Reliance Petroleum Ltd is set to join the league of top 15 companies in India in terms of market capitalisation in its debut trade on Thursday.
The rupee slipped by 4 paise to close at 77.59 (provisional) against the US dollar on Tuesday, weighed down by a negative trend in domestic equities and unabated foreign fund outflows. At the interbank foreign exchange market, the rupee opened lower at 77.56 against the greenback, and finally settled at 77.59, down 4 paise over its previous close. During the trading session, the rupee touched an intra-day low of 77.67 and a high of 77.51.
Indian stock market regulator, the Securities and Exchange Board of India, on Tuesday paved the way for Indian investors to trade in large indices of 24 global exchanges, including that of the United States, Europe and Asia.
The mystery surrounding the alleged fund diversion from Zee Entertainment Enterprises (Zee) by founders Subhash Chandra and Punit Goenka has thickened with speculations of an amount multiple times higher than that cited by the ex-parte interim order passed by the Securities and Exchange Board of India (Sebi) dated June 12, 2023. While Zee shares witnessed a fresh selloff on Wednesday, news reports of accounting fraud left investors guessing about the hole in the media broadcaster's books. An order by the Securities Appellate Tribunal (SAT) in October 2023 had clearly hinted that Sebi's investigation had found a deeper rout.
Commodity investments can help you diversify your portfolio in asset classes other than equity and debt, says Dwaipayan Bose.
Most analysts, who have long stopped covering UB stocks because of continuing troubles, were surprised to see a sudden spike of up to 20 per cent in their share prices on Tuesday.
Global currency market sentiment is likely to be driven by the US deficit and debt ceiling negotiations, with markets likely to turn more risk averse closer to October 17, the date by which the US Congress must approve raising the country's borrowing limit.
The improvement in the current account deficit is expected to provide a major reprieve to the government and the Reserve Bank of India which have been battling to prop up the rupee.
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The Reserve Bank of India late on Wednesday unveiled rules to restrict how much its citizens and companies can invest abroad and announced additional curbs on gold imports.
Capital goods, realty and power stocks led from the front while losses in oil & gas heavyweights offset the gains.
The company has received a communication from the Medicines and Healthcare Products Regulatory Agency, United Kingdom, whereby the agency has decided to withdraw the previously issued GMP Certificate to the company's manufacturing facility situated at Kadaiya, Nani Daman, Wockhardt said in a filing to the Bombay Stock Exchange.
SIP top-ups are especially beneficial for young investors, who may start with a small SIP installment and grow it over their working careers, says Dwaipayan Bose.
Banks tighten hold on Mallya for defaults on KFA loans
Two equity funds at the opposite ends of the risk matrix - small-cap and arbitrage - bucked the 'low inflow' trend in May this calendar year 2023 (CY23) to receive the highest net inflows in recent years. The Rs 3,280-crore net inflows into small-cap schemes in May was the highest for the category since the mutual fund (MF) industry started releasing fund-wise inflow data in April 2019. Arbitrage schemes raked in a net Rs 6,640 crore - the highest since July 2021.
The rupee on Tuesday recovered from its all-time intra day low of 77.79 to close higher by 7 paise on a stellar rally in domestic stock markets. After opening lower at 77.67, the local unit plunged further to its all-time intra-day low of 77.79 due to a spike in crude oil prices and disappointing macroeconomic data. However, a strong rally in domestic equities helped the rupee rebound and close at 77.48 (provisional), showing net gains of 7 paise over the last close of 77.55. The forex market was closed on Monday on account of Buddha Purnima.
The rupee depreciated 6 paise to 77.50 against the US dollar in the opening trade on Wednesday as a surging American currency in the overseas markets and persistent foreign fund outflows weighed on investor sentiment. Besides, rising global crude prices impacted the domestic unit, forex traders said. However, a higher opening in the domestic equity market restricted the rupee's fall, they added.
External Affairs Minister S Jaishankar has met United States Defence Secretary Lloyd Austin and held a productive conversation with him on deepening bilateral defence cooperation, including in the co-production of defence articles, and exchanged perspectives on a variety of security issues.
Reliance Industries, construction major L&T and IRB Infrastructure are some of the top companies that have used an infrastructure investment trust structure to reduce part of their debt and generate returns for their investors. Earlier this month, IRB Infrastructure InvIT was listed on the National Stock Exchange, giving its investors an option to exit by selling their units. The listing came within months of the Securities and Exchange Board of India's (Sebi's) guidelines for conversion of private unlisted InvITs into listed ones were issued.
Even as India's passenger-vehicle sales touched a record high of 3.9 million units in 2022-23, growing 27 per cent over the previous financial year, the country's largest carmaker, Maruti Suzuki India (MSIL), said on Monday uncertainties in the electronic-component supplies might affect production in FY24. MSIL said the shortage of electronic components had some impact on production in FY23. "The company took all possible measures to minimise the impact.
The 30-share Sensex ended up 371 points at 21,080 after hitting an intra-day high of 21,118 and the 50-share Nifty ended up 108 points at 6,274 after touching an intra-day high of 6,285.
BSE Oil & Gas, Realty, Auto, Power, Bankex and IT surged between 1-2%.
In all this, the political establishment -- and especially the finance ministry -- appears the weakest link, and worse still, the possible reason for the political backing to Narain and Ramkrishna that emboldened them to defy all the sentinels -- the independent board, the auditors, top management persons like the chief compliance officer, the company secretary, and unbelievably the super-regulator Sebi, observes V Ranganathan.
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The government on Tuesday announced hikes in import duties for gold and silver, but it has yet to unveil other details such as its plan to tax imports of non-essential items.
The TDP and JD-U will have a lot to answer inside Parliament, day after day, session after session, notes N Sathiya Moorthy.
The Finance Act, 2020, has inserted a sub-section, mandating a seller to deduct tax equal to 0.1 per cent of sale proceeds if the value of goods sold exceeds Rs 50 lakh in a financial year.
The rupee had dipped by a massive 67 paise to an all-time closing low of 61.10 against the dollar on Friday.
The notices from the stock exchanges followed reports about Cyrus Mistry disclosing possible writedown to the tune of $18 billion faced by the conglomerate
In India post the success of masala and green bonds on the LSE, Nikhil Rathi tells Rajesh Bhayani that there are many international investors interested in buying into the India story
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