The RBI is considering permitting FII and commercial banks to trade on Indian commodity exchanges.
The Sensex is on course to ending calendar year (CY) 2019 at a price-earnings (P/E) multiple of 29x, the highest in 25 years. Current valuations are, however, lower than those seen in the early 1990s. The Sensex has risen close to 14 per cent in the last 12 months, while the index underlying EPS dropped 6.7 per cent during the period.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
Indian business, on quite a different trajectory from its global counterpart, remains relatively insulated from any kind of backlash.
He is talking, making sense, and India is listening. Rahul Gandhi needs to listen to him, too, says Shekhar Gupta.
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 Union Cabinet on Wednesday had approved the proposal to amend the Sebi Act and other relevant regulations that would give greater powers to the regulator in its efforts to tackle all kinds of money-collection schemes, as also to effectively crackdown on defaulters in the stock markets.
'She violated NSE procedures and rules, corporate governance norms; Chitra acted maybe within her capacity as MD and CEO, but not in the right spirit.'
Soon after the BJP lost the 2004 election, the stockmarkets went into unprecedented free fall. Then SEBI Chairman G N Bajpai reveals how his firm handling of the situation restored confidence and soon the markets were back to doing what they do best -- make money. A revealing excerpt from his book, A Game Changer's Memoir.
Given how everything has played out, Mehul Choksi, now 62, achieved all that he wanted but for all the wrong reasons, says Pavan Lall.
'As long as you are moving, it's all right.' 'You are going to fall, you are going to have to pick yourself up and sometimes, it will hurt.' 'Sometimes, you would just want to lie there and look at the fan.'
Aavas is turning heads in the country's mortgage financing space because it selected to do business in a different way, says Mudar Patherya.
The first sign that shows a government is serious about an issue is when it appoints a high-powered committee to look into matters.
It is intriguing that the CBI has shown little interest in the most scandalous and biggest collective investment scheme ever, from the Sahara group, asserts Debashis Basu.
'All regulatory agencies must be made Constitutional bodies like the Election Commission, the Supreme Court, and the CAG.' 'That way they will become independent of the minister,' recommends T C A Srinivasa-Raghavan.
'Today, saving lives needs to take precedence.'
The combined market capitalisation of the 21 listed PSU banks declined by about Rs 76,000 crore to Rs 425,800 crore during the month.
A flavour-of-the-season approach does not work in investing, suggests Deepesh Raghaw.
The recapitalisation, the finance minister said, will enhance the lending capacity of state-owned banks and help them come out of RBI's Prompt Corrective Action framework.
When the markets boom, the regulator gets jittery. And not without reason. Recollections of recent market booms are tinged with memories of scams and subsequent JPC investigations.
An FIR has been registered against Shivraj and his parents for allegedly duping a Mumbai businessman and his wife of Rs 13 crore (Rs 130 million) while he was out on bail.
Also, on Wednesday Mahindra Satyam said its board has approved settlement of lawsuits brought by its former client Upaid Systems by paying $70 million.
Apart from navigating the bank through the Covid crisis, Jagdishan may also have to deal with the latest development on the auto loan lending practice scam. He will be expected to deliver consistent profit growth of 20 per cent-plus quarter after quarter, irrespective of the operating environment.
The NYSE also warned that an 'LF' indicator would be appended to the company's trading symbol and profile, date and news pages provided by the Exchange, Satyam announced in a filing to the BSE and NSE on Tuesday.
'I was shocked by the kidnapping episode. I could have lost my life.'
Nandan Nilekani on how IT modernised India's stock exchanges.
In a filing to the Bombay Stock Exchange, Satyam Computer said the last date by which letter of offer will be dispatched to the shareholders has been revised to June nine, from the earlier scheduled date of June three. Further, the last date of withdrawal by shareholders has also been revised to June 26, from the earlier June 27.
The 30-share Sensex ended down 538 points at 26,781 and 50-share Nifty ended down 152 points at 8,067.
Rahul Khullar's guiding credo was that a civil servant must never lose sight of his client: The little guy. The evil men are those who are decision-makers but abdicate their responsibility of taking decisions, leading people to lose confidence in public institutions.
Do you think financial or corporate crimes are on the rise in India? What would you say is the cause for these scams: lack of monitoring, corruption in high places, pure greed.? Tell us what you think.
'Revelations about his assaults on young women mean that his reputation and all that he has stood for is in tatters for all time,' says Aakar Patel.
Department seeks investor database on the suspicion of fictitious investors.
In a severe indictment, commodity market regulator FMC has said Jignesh Shah and his firm FTIL are not 'fit and proper' to run any exchange in the country and charged him of being the "highest beneficiary" in the NSEL scam.
The Nifty and Bank Nifty ended at record closing high of 7,913 and 15,865 respectively.
Raamdeo Agrawal says, an investor should figure out if the company actually makes money or not, making an investment comes later.
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