The finance ministry on Tuesday said RBI Bonds Scheme has not been closed but the interest rate on such papers has been lowered to 7.75 per cent.
Companies and Markets
Companies & Markets
Arecord Rs 1,61, 116 crore was raised through various equity market routes in 2017, the highest ever mop-up in a calendar year, with IPOs and QIPs dominating the scene, says a report by Prime Database.
The year "2017 witnessed raising of Rs 1.6 lakh crore through the public equity market, 3.6 times the amount raised in the preceding year," said Pranav Haldea, managing director, Prime Database.
This is the highest amount raised in a calendar year, the previous high being Rs 97,746 crore raised in 2010.
Sameet Chavan, chief analyst-technical & derivatives, Angel Broking, said: “The inaugural trading day of the new calendar year began on a flat note…a sharp decline in last 45 minutes of the trade dragged the index significantly lower to conclude the session with nearly a percent cut.
India's national benchmark index ended at two-week low on Monday, the first trading day of 2018 while posting its biggest fall in a month on basket selling by large institutional investors amid thin volume trades.
Bharti Infratel, Tata Consultancy Services, Tata Motors, Bosch and IndusInd Bank led decline among the 50-share Nifty constituents.
Public sector behemoth LIC has lost market share in the individual life insurance segment to private players over the last decade as private insurers, with a strong backing of their banking parent or partner, have been steadily increasing their new business.
Wary of debt, domestic companies funded their asset growth through equity and internal accruals in FY 18.
Forty per cent of the aggregate asset base expansion was funded by shareholders’ equity, a combination of internal accruals and equity capital rising.
The contribution of debt to aggregate asset growth was only 7 per cent, indicating de-risking of balance sheet by companies.
Making home and other retail loans cheaper to old borrowers in the New Year, State Bank of India (SBI) on Monday cut its base rate and its benchmark prime lending rate (BPLR) by 30 basis points (bps). With this latest reduction, SBI’s base rate is the lowest among lenders.
The eight core industries in November grew by 6.8 per cent, a 13-month high, giving indications that a stable recovery of industrial production may be on cards. This is the fourth consecutive month in which the performance of infrastructure sector industries has remained above 4 per cent after witnessing a sharp fall and moderate rises. As per data released by the commerce and industries ministry, core sector grew at 4.4 per cent, 4.7 per cent and 5 per cent in August, September and October, respectively.
The anti-profiteering authority has got cracking on errant retailers found cheating consumers by not passing on the benefits of lower GST rates.
Acting to protect consumer interest, the Directorate General of Safeguards under the Central Board of Excise and Customs (CBEC) has served notices to almost half a dozen retail outlets, automobile dealers and property
Salil Parekh is all set to take charge as Infosys CEO tomorrow as the over USD 10 billion company looks to bring back the focus on revenue growth and business strategy under the new leadership.
Infosys, which spent most part of 2017 handling the public standoff between its high-profile promoters and the past leadership, will also announce its third quarter financials on January 12.