While divestment through IPOs saw an over 90 per cent drop as compared to the previous financial year, the exchange traded fund (ETF) route proved to be a shot in the arm for the government, reports Sundar Sethuraman.
The budget, presented by Finance Minister Thomas Issac, focused on infrastructure development, strengthening of social welfare measures, steps to enhance safety of women, giving impetus to public education and health. It is the second budget by the ruling CPI(M)-led LDF after it came to power last year.
The 30-share Sensex ended down 297 points at 27,438 and the 50-share Nifty closed 93 points lower at 8,305.
'In times of recovery, we may see a rural-urban divide with the urban pockets affected more by COVID-19, but the MFI business model should encourage banks to handhold them in this hour of crisis,' notes Tamal Bandyopadhyay.
The NSE Nifty settled the day 93.20 points or 0.88 per cent lower at 10,452.30 after shuttling between 10,612.90 and 10,434.05.
While the import of gold fell by about 11 per cent to $2.58 billion in February as against $2.89 billion in the corresponding month last fiscal, inward shipments of petroleum products were down by nearly 8 per cent to $9.37 billion.
If imputed inflation for April and May is used, then you have inflation of over 6 per cent for two consecutive quarters, which is a worrying signal for the RBI.
The output, as measured by the Index of Industrial Production, had contracted by 2.5 per cent in the same month of last year.
On a standalone basis, the bank posted 17 per cent rise in net profit at Rs 2,655 crore.
Bajaj Auto was the top gainer in the Sensex pack, surging 3.95 per cent followed by Maruti Suzuki at 2.69 per cent.
According to media reports, Securities and Exchange Board of India is debating whether to reopen the issue of an open offer for shareholders of Jet Airways after another regulator said that Etihad enjoys joint control over the Indian airline.
The double-digit growth in itself is eye-popping, given the FMCG sector has seen low single-digit volume growth in recent times.
"Emerging fields, including artificial intelligence, machine learning, Internet of things, blockchain, and big data can take India to new heights of development, and improve the quality of life of its citizens," he said, adding for India, this is not just an industrial transformation, but a social transformation.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The report mentioned that the government spends 2.2 per cent of the GDP on pension bill.
India added the highest ever number of telecom subscribers of 6.65 crore (66.51 million) in the financial year 2006-07 since the sector was opened up in 1995 for competition.
The total goods earnings have gone up from Rs 40,293.70 crore (Rs 402.93 billion) April-September 2012 to Rs 44,191.92 crore (Rs 441.91 billion) during the corresponding period this year, registering a growth of 9.67 per cent, according to Railway Ministry data.
Investors spent much of 2016 cleaning house. And a VC tells Ranju Sarkar, "There's still some bad news left in the portfolios (of VC firms). What happens to Ola and Flipkart will drive sentiment in future."
Shares of rate-sensitive realty, bank and auto sectors were on buyer's radar on Wednesday.
Three Indians - Mukesh Ambani, Azim Premji and Dilip Shanghvi - have made it to a global list of 50 wealthiest people that is topped by Bill Gates.
Concerned over the deteriorating condition of SpiceJet, aviation regulator DGCA on Friday withdrew 186 of its slots and asked it to clear salary dues of all its employees in the next ten days.
The apex body of express companies, engaged in movement of goods through documents and parcels, on Friday demanded industry status and an independent regulator for the Rs 2,493-crore (Rs 24.93 billion) sector.
The first private sector MF, Kothari Pioneer was registered in July 1993.
The markets opened on negative note as traders booking profits at higher levels
On the 30-share index, Maruti was the biggest loser, shedding 3.60 per cent. Other major laggards were Yes Bank, IndusInd Bank, Tata Steel, Hero MotoCorp and NTPC -- ending up to 2.33 per cent lower.
The broader NSE Nifty ended at 10,888, a gain of 0.77 per cent or 83 points, after shuttling between 10,900.35 and 10,844.85.
India's leading private sector telecom services provider, Bharti Airtel on Friday reported a whopping 98 per cent net profit at Rs 1,353 crore (Rs 13.53 billion) for the fourth quarter ended March 31, compared to the same period last year.
Unlike the 2012 manifesto, the BJP has chosen not to make any extravagant promises.
The S&P BSE Midcap and the S&P BSE Smallcap indices slipped in red to shed over 1% each
This, despite squeeze in start-up funding; $946 mn Bharti Infratel deal is biggest so far this year
The Sensex, which dropped to a low of 12,941, is now up 10 points at 12,972
The net non-performing assets of the bank increased to 0.69 per cent at the end of first quarter.
The Cabinet approval would help more than 200 fashion and apparel brands who are lined up to enter India, including international labels such as Avva, Colin's, Damat, Tudba Deri and Dufy
Among the gainers, Sun Pharma topped by rising 3.03 per cent as the weak rupee tempted buyers to accumulate shares of pharma exporters.
The markets have opened on positive note and recovered yesterday's loss, as global cues were good.
Project, infrastructure sector emerged as the top employment generator in March with 12 per cent rise in demand while petrochemicals industry reported 9 per cent growth.
Police in Guiyang, capital of southwest China's Guizhou Province, arrested Song Chenglin from northeast China's Harbin city.
