Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
The cash pile within smallcap mutual fund (MF) schemes has grown over the past few months amid a relentless rally in stocks in this space. While fund managers usually don't make cash calls, incessant inflows and valuation discomfort have forced their hand. At the end of January, the top 10 schemes had over Rs 12,160 crore in cash, compared to Rs 8,700 crore in August 2023.
Larsen & Toubro was the biggest gainer in the Sensex pack, rising 2.35 per cent, followed by Titan, Tata Consultancy Services, Maruti, Mahindra & Mahindra, Infosys, ICICI Bank and Asian Paints. In contrast, Power Grid, Nestle, NTPC, HCL Technologies and Bajaj Finance were among the laggards.
Latest figures for HDFC Bank aren't available.
Sonjoy Chatterjee, executive director (ED) of ICICI Bank, has put in his papers and will soon join US-based investment bank Goldman Sachs in India, according to a person familiar with the development.
The largest private sector lender is also looking to open a full-fledged branch in China, where it already has a representative office, managing director and CEO, Chanda Kochhar said during the bank's 19th annual general meeting in Vadodara.
ICICI Bank, the country's second-largest bank but biggest in terms of market value, is set to acquire Sangli Bank, a 90-year-old, financially weak, small private sector bank.
Axis Bank, Tata Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, and Bajaj Finance were among the other major laggards. Tata Consultancy Services, Reliance Industries, UltraTech Cement, Infosys, HCL Technologies, and Tech Mahindra were among the gainers.
Signalling hardening of interest rates in the industry, India's largest private sector lender ICICI Bank on Thursday hiked deposit rates in select tenures by up to 0.50 per cent with immediate effect.
Will offer lower rates on home loans till end of 2012.
Christopher Wood, global head of equity strategy at Jefferies has rejigged his equity portfolios. In his Asia ex-Japan long-only portfolio, he has added Axis Bank (5 per cent weightage) and increased holding in Larsen & Toubro (L&T) by one percentage point. This, Wood said, will be paid for by removing the investment in ICICI Lombard General Insurance and reducing the investments in HDFC Bank and Reliance Industries (RIL) by one percentage point each.
Among the Sensex firms, State Bank of India, Infosys, Titan, Tech Mahindra, IndusInd Bank, NTPC, ICICI Bank, Power Grid, Reliance Industries and Kotak Mahindra Bank were the major laggards. On the other hand, Tata Motors, Nestle, Hindustan Unilever, Tata Steel, Bajaj Finance and UltraTech Cement were among the gainers.
Our focus around technology, cost efficiency, persistency and effective distribution channel will continue, says the ICICI Bank MD and CEO.
The bank board had decided to launch an enquiry to be headed by an "independent and credible person", to examine and enquire into an anonymous whistle blower complaint alleging that the bank MD & CEO had not adhered to code of conduct
Equity benchmark Nifty scaled the psychological milestone of 21,000 in afternoon trade on Friday, and the Sensex touched its all-time intraday high of 69,888.33 after the central bank's decision to keep policy rates unchanged in line with market expectations. The 50-share benchmark index opened on a bullish note, after taking a breather on Thursday, and rose to 21,006.10. As many as 25 stocks were trading in the green, and 24 stocks defied the broader market and were trading in the negative territory.
The S&P BSE Midcap and the S&P BSE Smallcap indices have managed to stay afloat in a volatile January that saw the frontline indices hit their respective 52-week high levels and then slip. While the S&P BSE Sensex has lost over 2 per cent thus far in January, the S&P BSE Midcap and the S&P BSE Smallcap indices have gained nearly 2.5 per cent and 4 per cent, respectively during this period.
Among Sensex shares, Tech Mahindra, Infosys, Asian Paints, ICICI Bank, Kotak Mahindra Bank, Titan, IndusInd Bank and Bajaj Finserv were the major laggards. Nestle, Tata Steel, Mahindra & Mahindra, Bajaj Finance, HDFC Bank and Tata Consultancy Services were among the gainers.
Alternative Investment Funds (AIFs) with a lock-in period performed better than the ones that allow investors to withdraw capital at any time. Close-ended schemes had a median return of 5.62 per cent in December, according to data from industry tracker PMSBazaar. The median returns for open-ended schemes were 3.91 per cent
There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
HDFC Bank, Reliance Industries and ICICI Bank remained among the top mutual fund (MF) buys for the second consecutive month in September. MFs deployed a net of Rs 15,000 crore into these stocks during the two-month period (August-September), revealed Nuvama Alternative & Quantitative Research reports.
rediffGURU Nikunj Saraf suggests considering small-cap, mid-cap, and multi-cap mutual funds.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
'At the same time, we will allow unsecured loans to go off.'
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
ICICI Bank has acquired the entire paid-up capital of Investitsionno-Kreditny Bank of Russia as part of its business plans to expand international operations.
Among the Sensex firms, NTPC climbed over 3 per cent emerging as the biggest gainer. Tata Motors, Sun Pharma, Tata Steel, State Bank of India, UltraTech Cement, JSW Steel, Bajaj Finance, Reliance, ICICI Bank and IndusInd Bank were the other major gainers. Power Grid, HCL Technologies, Tech Mahindra, Tata Consultancy Services, Infosys and Titan were among the laggards.
ICICI Bank Ltd's equity issue of Rs 3,050 crore with a green shoe option of Rs 450 crore has received bids in excess of Rs 3,150 crore less than two hours after it opened for bidding on Friday.
ICICI Bank on Tuesday said it cannot be termed foreign bank and is awaiting further clarification on the circular regarding new FDI norms.
As per the latest shareholding pattern filed by Kingfisher with the stock exchanges on Wednesday, ICICI Bank held about 1.67 crore (16.7 million) shares, accounting for a 2.9 per cent stake, in the airline as on March 31, 2012.
While near-term performance is difficult to predict after a huge run-up, fund managers believe the PSU theme's prospects remain sound over the medium to long term.
Bajaj Finance, ICICI Bank, Bajaj Finserv, IndusInd Bank, Infosys, Kotak Mahindra Bank, Wipro, and Reliance Industries were among the other laggards. On the other hand, Larsen & Toubro, Hindustan Unilever, Power Grid, Asian Paints, Nestle and Mahindra & Mahindra were the major gainers.
From the Sensex pack, Bharti Airtel, HDFC Bank, Titan, ITC, UltraTech Cement, Sun Pharma, Bajaj Finserv, Bajaj Finance, Hindustan Unilever and Kotak Mahindra Bank were among the major gainers. Tata Steel, Axis Bank, IndusInd Bank, NTPC and ICICI Bank were the major laggards.
The charges would apply to savings as well as salary accounts
Among the Sensex firms, Maruti, NTPC, Tata Motors, ICICI Bank, HDFC Bank, Reliance Industries, JSW Steel, ITC and Mahindra & Mahindra were the major laggards. Bajaj Finance, Larsen & Toubro, Bajaj Finserv and Titan were among the gainers.
ICICI Venture informed Subhiksha on January 8, 2009, about the withdrawal of its nominee directors and asked the company to make the requisite filing with the RoC, Chennai. However, when ICICI Venture did not receive any copies of the filing till January 19, it informed the RoC of the resignations.
Maximum customer complaints were received against State Bank of India, ICICI Bank and HDFC Bank during 2010-11, said banking ombudsman of New Delhi region.
A corporate lawyer said that this is the biggest failure of corporate governance in this country. He pointed out that American investors can even take the bank to court for giving false statements to stock exchanges and even file class action suits. Some even questioned how RBI overlooked Kochhar's misdeed.
The insurer is a venture between banking major ICICI Bank and the UK's Prudential Corporation Holdings. Singapore's Temasek and Premji Invest are also the shareholders.
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