COVID-19: Stock Markets will ‘wait and watch’ for 1 week

Stock markets extended their losses on today, with the Nifty 50 falling by around 2.5% to 8,967. Among the biggest drags were ICICI Bank, which fell nearly 9%, indicating that large, foreign portfolio investors are exiting their long positions in the market. With this, the Nifty 50 index is now down 27.5% from its all-time […]

Stock markets likely to find near-term bottom on Tuesday

Stock market indices, including India’s Sensex and Nifty 50, are likely to find their short-term bottom today, after a savage correction on Monday in both the Indian markets as well as US markets. The Dow Jones Industrial Average suffered another massive setback on Monday, dropping by a massive 13% to 20,188. With this, 30-stock US […]

MARKET CORRECTION: Good time to invest?

Major Indian stock market indices fell by 8-9% today in the biggest single-day fall since the global financial crisis of 2008. The Sensex fell 2,919 points (8.2%), while the Nifty 50 fell 868 points (8.3%) — by far the biggest single-day points correction in the history of these two indices. GOOD TIME TO INVEST? The […]

Eros Intl says working with CARE on credit rating

Eros International Plc, listed on the New York Stock Exchange, denied short-seller allegations about financial misappropriations at the the India-based content aggregation company said it was also working with CARE Ratings to address their concerns. It also announced a $20 million (Rs 138 cr) share repurchase program. The company’s stock also took a knock last […]

Edelweiss’ NBFC arm to raise up to Rs 1,000 cr via debentures

ECL Finance Ltd, the NBFC arm of Edelweiss Group, said it plans to raise up to Rs 1,000 cr in the form of non-convertible debentures, a form of debt. The non-convertible debentures have a face value of Rs. 1,000 each, and the company could raise anywhere between Rs 250 cr or Rs. 1,000 cr, depending […]

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 […]