In an interaction with Jash Kriplani, A Balasubramanian, managing director and chief executive officer, Aditya Birla Sun Life Asset Management Company, shares his optimism on what makes him believe that these cuts can help in addressing multiple issues plaguing the economy, without letting fiscal deficit pose any major risk.
At present, Sebi norms bar wilful defaulters from issuing convertible debt instruments.
All four societies were under common management of the Sahara group and had collectively garnered Rs 86,673 crore, including more than Rs 47,000 crore collected by Sahara Credit Cooperative Society Ltd from nearly 4 crore depositors.
Many are now hoping the markets remain in good stead as they look to finalise the dates for IPOs, such as UTI MF, Computer Age Management Services, Happiest Mind, and Angel Broking. Most of the issues are expected to come to the market in the second half of September.
Top gainers in the Sensex pack included HCL Tech, Tata Motors, M&M, Bajaj Auto, RIL, Hero MotoCorp, Yes Bank, Maruti, HDFC Bank and Bajaj Finance, which surged up to 6.43 per cent.
The RBI rejection is a second blow to BoB - the lead bank of both companies -- after a Delhi high court order on August 18 stayed a move by BoB and the entire consortium of lenders to classify these accounts as fraud, restraining them from taking any other coercive action till the next hearing.
As the coronavirus pandemic is triggering fears of a global recession, foreign investors have started rowing back from the Indian capital markets by withdrawing a massive over Rs 1 lakh crore in March after remaining net buyers for six consecutive months. In order to contain the spread of coronavirus, lockdowns have become a norm the world over and have led the FPIs to adopt a cautious stance, market experts said.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
Traditionally, financial institutions have operated risk functions in silos. However, the nature of unknown threats today requires industry participants to work together, says Vikram Limaye.
Capital markets regulator Sebi on Tuesday asked listed companies to work towards splitting the roles of chairman and managing director before the April 2022 deadline, as the new directive is not aimed at weakening the position of promoters. Listed entities were initially required to separate the roles of chairperson and MD/CEO from April 1, 2020 onwards. However, based on industry representations, an additional time period of two years was given for compliance. The regulation will now be applicable to the top 500 listed entities by market capitalisation, with effect from April 1, 2022.
Banks feel happy shifting their toxic assets from loan books to investment books while the ARCs enjoy the management fees with a smile, observes Tamal Bandyopadhyay.
Most of the large Indian IT services players, such as TCS, Infosys, Wipro, and HCL Tech, have signalled increased offshoring efforts and opting for local hires in the US, primarily to address the immigration-related challenges.
Continuing efforts to boost the capital market, Sebi on Wednesday decided to tweak the 25 per cent minimum public shareholding requirement for companies undergoing insolvency process, segregate assets as well as liabilities of mutual funds, and ease norms governing promoter participation in follow-on public offers. For the mutual fund segment, the watchdog also relaxed the profitability criteria and mandated minimum Rs 100 crore net worth requirement for entities to become sponsors of mutual funds. The board of Sebi, at its meeting on Wednesday, also cleared amendment regulations pertaining to market intermediaries to avoid duplication of proceedings before the designated authority and the designated member.
Investors who issued units in liquid and overnight funds, as well as those with a short-term holding of less than 30 days, are likely to be impacted the most, say experts.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
Farmers gathered at several national highways, key roads and some railway tracks in Punjab and Haryana on Friday morning as part of their nationwide protest against the Centre's new agri laws.
Stock markets squandered early gains but managed to end in the green on Friday, propped up by heavyweight Reliance Industries which announced another stake sale deal for its digital platform. A strengthening rupee and firm global cues also supported the domestic bourses, traders said.
Sebi said Thapar-promoted and -related entities owed Rs 1,723.19 crore as receivables to the company, while connected parties owed another Rs 462.74 crore.
Foreign institutional investors added $20.10 billion in equities while they pulled out $7.97 billion from the debt market, resulting in total net flows of $12.13 billion.
Sale of dollars directly by the RBI can help but only temporarily for a day or two before it will be back to a volatile market.
Such measures are expected to further enhance the protection of investors in the securities market
The government holds 90 per cent stake in ITI which is valued at Rs 7,550 crore.
If the government had paid enough to begin with, or if it had made serious advance purchase commitments that allowed the vaccine producers to mobilise necessary investment, then it is possible to imagine more free or subsidised vaccines such as are available in developed economies, asserts Mihir S Sharma.
Mutual funds are a popular investment tool for investors because it offers a convenient and cost-effective way to invest in the financial markets.
The watchdog would provide an additional option to the existing pricing methodology for preferential issuances.
It is impossible for anyone to explain how markets are hitting record highs during an economic recession. It is both mysterious and surreal, notes Debashis Basu.
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 sale is to generate the bail money for the release of Sahara Group chief Subrata Roy.
It couldn't be immediately ascertained whether he has partnered with any entity or airline for the bid.
This follows a staggering inflow of Rs 19,967 cr in equities and debt last month
There are several welcome standalone reforms, but these do not add up to a coherent strategy to achieve a $5 trillion economy or secure Aatmanirbharta, observes Rathin Roy.
The sad truth is that the debt-to-GDP ratio will shoot up close to 90 per cent in the coming year, and the fiscal deficit glide path does not promise to reduce it substantially any time soon, predicts Mihir S Sharma.
While the fresh issue portion of IPOs has been going down over the years, this financial year has been abysmally low at only Rs 2,663 crore, 82 per cent lower compared to the last financial year.
A social stock exchange, broadly, is understood to be a platform that allows investors to buy shares, bonds or units in a social enterprise that has been vetted by the exchange. These allow firms operating in sectors such as health, environment and transportation to raise risk capital.
All Sensex components ended in the red. SBI was the top loser, followed by ONGC, Axis Bank, ITC, Titan, Bajaj Auto, TCS and IndusInd Bank.
Shares of Motilal Oswal Financial Services, Edelweiss Financial Services and IIFL Holdings have all doubled in the past one year against the Sensex's 23 per cent gain.
'As regard to specific reference to high net worth individual, the moment we finish the 75th anniversary of India's independence, we shall review and take a call,' Finance Minister Nirmala Sitharaman said.
Currently bankers are trying to stave off bankruptcy even as media reports said Etihad Airways, which already owns 24 per cent in the airline, has teamed up with the Hindujas to buy the airline.
Overseas investors buoyed by recent rate cut by RBI and hopes of a good monsoon
Foreign Portfolio Investors purchased stocks worth about Rs 56,123 crore in 2016-17
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