Equity benchmarks extended their decline for the fourth straight session on Wednesday, with the Sensex falling 214.85 points after the Reserve Bank raised the key interest rate by 50 basis points. Continuous foreign fund outflows and surging crude oil prices also weighed on markets. The 30-share BSE benchmark dropped 214.85 points or 0.39 per cent to settle at 54,892.49.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Investors, including large corporations, view them as a potential hedge against uncertainty, and mainstream investment banks too are jumping into the game.
The relentless rally in small- and mid-cap stocks continues as large-caps show signs of fatigue. In July, the Nifty Smallcap 100 rose 8.1 per cent, extending its year-to-date (YTD) gains to 48.5 per cent, while the Nifty Midcap 100 added 3.1 per cent, taking its YTD rise to 33.5 per cent. On the other hand, the Nifty50 remained unchanged for the month, with YTD gains of 12.7 per cent.
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
In the late 1990s, Japanese electronics brand Aiwa tied up with a maverick entrepreneur, Kabir Mulchandani, to sell its consumer electronic products. Founder of Baron International, Mulchandani, all of 26 at that time, had already disrupted the television market through a tie-up with another Japanese player, Akai. With a strategy that relied on heavy discounts, exchange offers and freebies, Akai was selling in huge volumes.
'It is going to be a tough balance for the RBI to manage economic stability and ensure smooth government borrowing.'
NDTV founders Prannoy Roy and his wife Radhika Roy on Friday said they will sell all but 5 per cent of their remaining shareholding in the news broadcaster to Adani Group for up to Rs 647.6 crore. Roys, who founded New Delhi Television Ltd (NDTV) as India's first and largest private producer of news current affairs and entertainment television, lost their status of being the company's largest shareholder in recent weeks. This follows Adani Group becoming the majority shareholding of NDTV after first buying out a company backed by the founders and then acquiring more shares from the open market.
Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures. Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy. He also warned of the pains that such monetary policy actions would create on growth and jobs.
The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a 'debt free company'.
20 Indian CEOs and 350 companies are participating in the Hannover Fair.
Among other proposals, she said NRI portfolio route would be merged with the FPI route for seamless investment in stock markets.
All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, says Financial Services Secretary Debasish Panda.
Infibeam appointed Kothari as president, strategy, corporate development, international operations, and investor relations.
Airports hold pride of place in the government's National Monetisation Pipeline (NMP) programme to monetise public assets. Private airport operators, including the Adani group, Fairfax, GMR and Zurich Airport, are expected to evince interest in the next round of public private partnership (PPP) development of state-owned Airport Authority of India (AAI) airports. Industry analysts, however, do not expect bids to be as high as the last round, which saw Adani group gain control of six airports.
'We are very watchful about inflation and growth. But the main challenge is economic revival and growth.'
At the recently concluded Dubai airshow, Akasa, Rakesh Radheyshyam Jhunjhunwala's new airline, signed a $9 billion deal with American aircraft maker Boeing to buy its 737 MAX planes and a $4 billion one for engines with CFM, a joint venture between GE of the US and Safran of France. Unlike his financial doppelganger Warren Buffett, who divested billions from his airline stock portfolio at the start of the pandemic, Jhunjhunwala is wagering his billions in a brand new airline. The legendary investor bought a roughly 40 per cent stake in SNV Aviation in September, Akasa's holding company, started in March by three former Jet Airways colleagues. With aviation still to recover from its pandemic slump, the big question around his foray into domestic aviation, due to take off in summer 2022, is whether it is another pie in the sky.
'There is a weak link between the economy and the stock market.'
In an email interview with Ranju Sarkar, International Finance Corporation's South Asia director Mengistu Alemayehu explains why the firm is bullish on building affordable homes in India.
Sensex ends 134.91 pts down at 28,709.87; Nifty falls 44.70 pts at 8,712.05.
It, however, remains to be seen how much money Softbank actually puts in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity.
Analysts say that Republic TV has to hit the top spot in the shortest possible time if it has to make a dent in the ad market and break even, writes Vanita Kohli-Khandekar.
Snapdeal is conducting due diligence on ShopClues, a move that may lead to a potential acquisition of the latter, which may bring in a fresh infusion of funds for the new entity.
India's macroeconomic situation is improving fast and the country's GDP growth will turn positive in the third and fourth quarters of the current financial year, eminent economist Ashima Goyal said on Sunday. Goyal in an interview to PTI said the management of the COVID-19 pandemic and gradual unlocks announced by the government have helped in avoiding multiple COVID-19 peaks. The growth estimates by different agencies are being continuously revised, she said.
Risk sentiment received a boost after eight core sectors grew to a five-month high of 4.9 per cent in August
Notwithstanding how the current impasse is solved, at some point in the future, Russia will realise that just as centuries ago it developed the paradigm of securing its heartland's safety through annexing vast buffer zones between itself and the enemy, a more modern security is possible only through friendly relations and sustainable peace, observes Shyam G Menon.
Monitor how long the high cash position lasts. If it lasts for a month or two, it is fine. But if it continues for a couple of quarters, seek your advisor's opinion on whether to exit the fund.
The Smart Power model is an innovative way to deliver clean energy.
Without disclosing other shareholders, Republic Media Network said the statement was being issued to "clarify the details of its promoter shareholding" in view of "misleading" media reports making "false and mala fide claims about the exact ownership of the consolidated network." It said Goswami through his personal investment and family owned around 84 per cent shareholding in ARG Outlier Media Pvt Ltd at the time of launch of the English news channel Republic TV in 2017.
Joe Foster spoke recently with Mike Norman about the rising price of Gold and presented his analysis of the Gold market.
Snapdeal chief executive officer Kunal Bahl said Piramal's investment was a significant endorsement for the firm and the transformation the company has undergone over the last couple of years.
These are the people who could damage your organisation in possibly irreparable ways.
In 2013, India suffered its worst currency crisis in more than two decades but has regained the confidence of foreign investors in part after its current account deficit has narrowed sharply and its foreign exchange reserves hit a record high
Rajesh Bhayani examines what SEBI's approval of diamond futures trading means for the diamond market players.
'The Centre brought down expenses by as much as Rs 12,000 crore (Rs 120 billion).'
'Modi has not lacked courage in the political sphere. It is time he showed it in the economic sphere as well.' 'To do this, he needs to shed the simple-minded nostrums about economic growth and swadeshi that he learnt in the Sangh Parivar,' suggests Virendra Kapoor.
Times Now, the English news channel Arnab Goswami headed until recently, had an average daily reach of 1.7 million people. That may be a fraction of the 48 million Aaj Tak reached every day in 2016, but Goswami had no trouble getting investors for his new venture.
And here's how not to make them...
Even retail investors are talking about investing in start-ups.
Phonemaker Apple is said to be in talks to take 30,000 sq ft retail space at plush property Maker Maxity, in Bandra Kurla Complex
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