Nifty likely to remain below 10,000 as stocks enter long-term correction

The key Nifty 50 stock index in India is likely to breach the 10,000 support mark this week as the Indian stock market enters what many have called its deepest correction since the 2008 financial crisis. The Nifty, which reflects the stock prices of 50 bluechip stocks traded on the National Stock Exchange, had gone […]

MARKET TURMOIL: RBI, SEBI says ‘closely monitoring’ situation

The Reserve Bank of India and the Securities and Exchange Board of India are “closely monitoring recent developments in financial markets” and are ready “to take appropriate actions, if necessary,” India’s central bank said in a one-line statement on Sunday. The move comes in the wake of what looks to be the beginning of prolonged […]

NTPC launches $400 mln USD bonds at 4.5% interest

NTPC Ltd, India’s largest power producer, said it is raising $400 mln (Rs 2,600 cr) by selling dollar-denominated bonds that carry a 4.5% interest. The bonds were priced yesterday and the issue is now open, the company said. The notes will mature on March 19, 2028. Both the principal and interest payments will be made […]

Edelweiss offers investors 8.75% – 9.25% interest per year via NCDs

Edelweiss Financial Services Ltd said its subsidiary Edelweiss Retail Finance is offering interest rates of 8.75% to 9.25% to retail investors who want to put in Rs 1,000 or more in the company’s debentures. Debentures are like bonds, and are issued by a company with a fixed tenure, after which they are redeemed. The interest […]

Sterlite Power Grid transfers three assets to InvIT Indigrid

IndiGrid, India’s first infrastructure investment trust for power assets, said it has acquired three transmission assets from its sponsor at a cost of 1,410 cr, taking the total assets under management to 5,300 cr. The company said it will also invest Rs 232 cr into Patran Transmission Company Limited, a unit of Techno Electric & […]

SEBI asks IIT Bombay for ways to regulate high-frequency trading in India

The Securities & Exchange Board of India has tapped Indian Institute of Technology, Bombay to submit a report on the various options to regulate algorithm trading in India. The appointment of IIT Bombay to help with the matter comes in the context of the SEBI’s ongoing consultation with industry and other stakeholders for framing rules […]

India sees record-breaking Private Equity inflows in 2017 – Study

The amount of money invested or committed by private equity firms in India reached an all time high in the first nine months of this year, said Venture Intelligence, a research firm tracking unlisted company financials, transactions and valuations. PE firms invested about $17.6 billion in Indian companies as of September, overtaking the previous record […]

Worth Rs 70,000 cr, Patanjali’s Acharya Balkrishna named to India’s richest

Acharya Balkrishna of Patanjali has emerged as the latest addition to the list of the top ten richest people in India, which is still headed by Mukesh Ambani, chairman of Reliance Industries. Haridwar-based Acharya Balkrishna, age 45, rose to 8th position from 25th last year after seeing his wealth grow by 173%. He is now […]

Infosys included in Dow Jones Sustainability Index

Infosys said it has been inducted into the Dow Jones Sustainability Indices (DJSI) and is now part of two of the indices — DJSI World and DJSI Emerging Markets. The indices measure the economic, environmental and social performance of companies and are based on the companies’ corporate governance, risk management, branding, climate change mitigation strategies, […]

SBI, Canara Bank lead in opening unorganized sector pension accounts

State Bank of India has opened the largest number of accounts under India’s universal pension scheme for the unorganized sector, the government said today. State Bank of India has opened 51,000 out of the total 3.07 lakh pension accounts opened by banks under the scheme, which guarantees a rate of return of at least 8%. […]

Mahindra Finance to raise Rs 2,000 cr via debentures

Non-banking financial services company Mahindra & Mahindra Financial Services said it plans to raise Rs 2,000 cr by issuing debt instruments to the public. The non-convertible debenture issue will open on July 10. The NCDs carry a rating of IND AAA from India Ratings and BWR AAA from Brickwork Ratings. The instruments will be offered […]

Are ‘truly free’ demat and trading accounts here in India with Finvasia?

Finvasia, a technology-driven online broking start-up, announced that it has rolled out what it claimed was India’s first ‘truly’ free online demat account for investing in stocks and derivatives, including futures. There have been many ‘free demat account’ providers in the past too, but such operators usually find some way or the other charge their […]

Glaucus questions stock price of Hong Kong-listed Fullshare Holdings Ltd

Glaucus Research Group, a California-based short seller, said it was selling Hong Kong-listed developer Fullshare Holdings due to peculiar trading patterns seen in the stock’s counter. “Fullshare is supposedly a commercial and residential property developer, but this business is tiny compared to its market capitalization. In FY 2016, Fullshare generated a paltry RMB 132 million […]

US Fed unlikely to reverse quantitative easing this year: HDFC Securities

Broking and financial firm HDFC Securities Ltd said it does not expect the US Federal Reserve to start sucking out the liquidity that it has infused into the global financial market in the last nine years any time soon. The comments came in the wake of the release of the minutes of the Federal Open […]

Administrative charges on employee provident fund cut to 0.65% from 0.85%

After keeping the move on hold for three months due to the elections, the Employees’ Provident Fund Organization has cut its administrative charges on the funds it manages to 0.65% from 0.85%, according to labor ministry sources. The cut in administrative charges — which was notified on Mar 15 — is to reflect the lower […]

Vodafone merger values Idea at Rs 109.76 per share

The merger deal between Idea Cellular and Vodafone India values equity shares of the Aditya Birla Group company at about Rs 109.76 at the time of completion of the merger, 2% below its present trading value. According to the terms of the contract, when the merger of¬†Vodafone India¬†with Idea is completed, Idea will issue a […]

Stock markets pricing in a BJP win in Uttar Pradesh – analyst

The recent strength in India’s key stock market indices indicates that market participants are pricing in a victory for the Bharatiya Janata Party in Uttar Pradesh, according to an stock market analyst. India’s largest state has been busy electing its next legislative assembly for almost a month. The first phase of elections in the state […]

Investors starting to understand Mukesh Ambani’s telecom game – Angel Broking

Investors are only now starting to realize the plan that Mukesh Ambani and his telecom brainchild, Reliance Jio, have put into practice, and are therefore driving stock prices of his company higher, said Angel Broking, a retail-only stock-broker. Reliance Industries share prices surged 11% on Wednesday, the first time it has moved so much in […]