Companies and Markets

Companies & Markets

Patel: Reticent but no pushover

From being considered government's man on the Mint Street, outgoing RBI governor Urjit Patel had in less than two-years emerged from the shadows to find his own voice on issues that mattered the most -- autonomy and independence of the central bank.

From facing flak for allegedly toeing the government line on the shock decision to overnight junk 86 per cent of the currency in circulation, he overcame all that as he followed the "wisdom of an owl" in clamping down on loan defaults and cleaning up bank balance sheets.

Poll jitters: Sensex crashes 713 pts, Nifty’s 2018 gains wiped out

With the massive sell off on Monday following the exit polls suggesting setback for BJP in the state polls, the Nifty 50 has given off all the gains made during 2018. The widely tracked index turned red year-to-date (YTD) as it shed 10 per cent from the peak of 11,760 touched early this year.

Uday Kotak fights back

Private sector lender Kotak Mahindra Bank has moved the Bombay High Court against the Reserve Bank of India’s (RBI) decision to restrict it from reducing promoter holding through preference shares.

Equity market factors in exit poll results

The equity market is bracing for choppy trading in the medium term as state election results are likely to spring surprises for the BJP going by the exit polls.

Investors have turned cautious ahead of the election results for five state elections to be announced on Tuesday which may set the tone for general elections in 2019.

The S&P BSE Sensex fell 1.44 per cent and the NSE Nifty 50 Index dropped 1.68 per cent a week after it rose to a four-week high.

Wait for the results

A week is a long time in stock markets and last week was a prime example of this. Things began on an optimistic note after the G-20 summit over the previous weekend. The bonhomie generated but lasted a mere couple of days with different sound bites emerging from different people. On the one hand China is expected to act and import $200 billion of goods from the US so that there is no additional duty in the future. On the other hand the US is not going to change any duties already imposed on China. The arrest of the Hua Wei chief’s daughter has led to the fall in Dow Jones last week.

Sebi mulls policy to identify 'difficult to recover' cases

Faced with difficulties in recovery of penalties and other dues from some defaulters, capital markets regulator Sebi is planning to create a separate category of 'difficult to recover' cases for optimal utilisation of its resources.

However, Sebi can initiate or continue its prosecution proceedings against the defaulters even after such a segregation and recovery procedure can be reopened in case there is any change in prevailing parameters regarding the defaulter, officials said.

Rs 6K cr infusion in 3 insurers sought

The department of financial services has sought capital infusion of Rs 6,000 crore in the three to-be-listed non-life insurance firms to shore up their weak solvency ratio. The department has sought this in a letter to the budget division of the finance ministry, highly placed sources said.

After banks, insurance companies too are seeking capital from the government to meet regulatory requirements.

Sebi to expand OFS framework

The Securities and Exchange Board of India (Sebi) board is set to take up a slew of market reform and development measures at its meeting this week.

It is planning to expand the offer for sale (OFS) framework to more companies with market cap as low as Rs 1,000 crore, relax norms for clubbing of investment limits by established foreign investors and tighten insider-trading rules.

On changes in the OFS framework, a Sebi official said they have been formulated as per suggestions from the department of investment and public asset management (DIPAM) and other stakeholders.

Sebi to expand OFS framework

The Securities and Exchange Board of India (Sebi) board is set to take up a slew of market reform and development measures at its meeting this week.

It is planning to expand the offer for sale (OFS) framework to more companies with market cap as low as Rs 1,000 crore, relax norms for clubbing of investment limits by established foreign investors and tighten insider-trading rules.

On changes in the OFS framework, a Sebi official said they have been formulated as per suggestions from the department of investment and public asset management (DIPAM) and other stakeholders.

Gold ETFs record Rs 10 cr net inflows

After a gap of six years, gold exchange traded funds (ETFs) have witnessed net monthly inflows in November. The investment flow in the coming months will be crucial to determine whether gold ETFs have regained investor interest.

In November, gold ETFs recorded a net inflow of Rs 10 crore, as per the data released by Association of Mutual Funds in India (AMFI). Prior to November, gold ETFs had last witnessed inflows in 2012. In all these six years after gold entered the bear market, the funds had recorded net outflows on a monthly as well as yearly basis.

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