ONGC was the top laggard in the Sensex pack, dropping 5.80 per cent, followed by PowerGrid, HCL Tech, TCS, Tata Steel and Reliance Industries.
The Reserve Bank of India, for the second straight time, on Thursday kept its key policy rate unchanged at 5.15 per cent, maintaining its accommodative policy stance as long as it was necessary to revive growth. The central bank retained GDP growth at 5 per cent for 2019-20 and pegged it at 6 per cent for the next fiscal.
Rahul is fascinated by history and ancient texts
'The Insolvency and Bankruptcy Code is neither beneficial to banks nor helpful for the borrower.' 'Genuine people who are caught in economic stagnation will lose everything and thousands will lose jobs.'
There is little sense in trying to find stocks that will not be vulnerable in a situation where 87% of the market is trending down and India is getting set for a crucial election, says Devangshu Datta.
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.
Economists praise Das for his pragmatism and willingness to face challenges head on. And in doing so with the finesse of an able administrator.
When the Centre tries to encroach upon the subjects that are under the prerogative of the state, or where the centre tries to evade from any responsibility guaranteed to a state through a constitutional provision/obligation, it poses a threat to federalism.
Building a global brand was Choksi's idea, which Modi borrowed from him.
Highlighting the role of MSMEs in enhancing exports and helping the country achieve self reliance, Union Minister Nitin Gadkari on Monday said India does not need to import from China. "Already in automobile sector, in many sectors now, in agriculture, automobiles, everywhere, we have already found the solutions. Now we don't need to import from China," said the minister. He observed that India was exporting a lot of items instead of importing them.
If you have an active trading account or have consumer loans or thinking of taking out a loan, consider investing in NBFCs, says Devangshu Datta
The markets gained nearly 7 per cent in the 4 trading sessions of March.
Fitch Ratings on Monday said the plan to privatise two state-owned banks in the current financial year ending March 2022 could face delays amid renewed challenges for the Indian banking sector due to the second wave of Covid-19. The government in the Budget announced plans to privatise two public-sector banks. NITI Aayog has been entrusted with the task of selecting the banks and one general insurance company for the privatisation.
As FY20 Budget fiscal measures need to be better understood, a reversal of the stance back to neutral will allow MPC flexibility to respond to incoming data.
'It is not simply demonetisation or GST, it is this government's failure to manage the financial sector crisis.'
As yields on 10-year government bonds rose from 6.65% in April 2017 to around 7.50% now, liquidity pressures have increased the cost of funds for housing finance companies.
The fourth consecutive rate cut is expected to lower equated monthly instalments (EMIs) for home and auto buyers, and borrowing cost for corporate.
The company's market valuation stood at Rs 10,972 crore in morning trade.
Some international markets offer interest rates as low as one per cent, which could reduce the government's interest cost significantly.
The move is expected to stabilise yields, volatile in the recent past.
Coming from a family that has a 140-year history of growing coffee, Siddhartha, 59, initially dabbled in stock trading and wanted to work as an investment banker in Mumbai after completing his Master's in Economics from Mangalore University.
In another round of economic booster, Sitharaman announced steps to help homebuyers and push exports.
'The government's projections for 2019-2020 will be disappointing big time.'
Governor Rajan can be more unambiguously pro-growth.
Department seeks investor database on the suspicion of fictitious investors.
The Centre informed the Supreme Court on Monday that a decision is likely in 2-3 days over charging of interest by banks on instalments which were deferred during the moratorium period in view of the Covid-19 pandemic.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
The dollar index, which tracks the world's reserve currency against a basket of its peers, is down 0.16 per cent at 97.58.
Owing to Finance Minister Nirmala Sitharaman being new to her role, a number of crucial announcements in the Budget bore Garg's imprint, especially the decision to borrow in overseas markets, reduce the fiscal deficit as a percentage of gross domestic product, and resort to off-Budget borrowing to meet that target, says Arup Roychoudury.
FPIs would be classified into two categories instead of three, while the requirements for issuance and subscription of offshore derivative instruments would be rationalised.
With gold prices on the rise, financial institutions are trying different ways to attract the customer.
'India cannot expect to be insulated from the crisis. Europe is India's biggest trading partner with two-way trade of E72.5 billion or Rs 530,000 crore last year,' says Paranjoy Guha Thakurta.
The 50-share NSE Nifty also ended down 12.85 points, or 0.12 per cent, at 10,477.90. Intra-day, it shuttled between 10,534.55 and 10,460.45.
The 50-share NSE Nifty also ended down 12.85 points, or 0.12 per cent, at 10,477.90. Intra-day, it shuttled between 10,534.55 and 10,460.45.
'These are only passing clouds. The banking industry is a century-old industry and this is not the first time it is going through such a crisis.' 'When the economy revives, those companies that are in the infrastructure fields will also get revived.' 'After all, a lot of money has gone into creating assets like power projects and roads, so you can't say money has been wasted.'
'Any normalisation exercise will bring its share of volatility.'
The middle class's long push to force the state to retreat from the economy may be reversing, says Ajit Balakrishnan.
According to fund managers, expectations of a 25-basis-point increase in the cash reserve ratio of banks have heightened in the wake of RBI's surprise twin moves to make short-term money dearer as part of its attempts to curb the rupee's volatility.
Large retailers are allegedly importing apparel made of Chinese fabric from Bangladesh at nil duty, under our free trade agreement with the latter country. However, the same agreement does not permit duty-free export from here.
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