Market regulator Sebi has initiated enforcement action against various entities involved in the long-running NSE co-location case.
Infotech companies and automobile makers were among the top 10 large-cap stocks picked up by India’s mutual funds in May, data from global investment research firm Morningstar shows. On other extreme, four public sector enterprises counted among the top large-cap stocks sold by MFs last month.
Housing Development Finance Corporation (HDFC), Infosys, ITC, HCL Technologies, Maruti Suzuki, Sun Pharmaceuticals, State Bank of India, NTPC, Tata Motors and HDFC Bank were the most bought 10 large-cap stocks in May.
RBI governor Urjit Patel voted for interest rate hike citing inflation risks and related uncertainties while his deputy Viral Acharya felt there was no alternative to it by 25 basis points, as per the minutes of the monetary policy committee (MPC) meeting released on Wednesday.
After over four years, the Reserve Bank of India raised the short-term lending rate (repo) to 6.25 per cent on June 6 after MPC headed by Patel unanimously voted for the hike on inflationary concerns.
Commercial lending stood at Rs 54.2 trillion as of March 2018, with micro and SME (small and medium enterprises) segments contributing nearly 23 per cent to overall growth.
“Total on-balance-sheet commercial lending exposure of banks and financial institutions stood at Rs 54.2 trillion, as of March 2018 with micro and SME segments constituting Rs 12.6 trillion, which is nearly 23 per cent of outstanding commercial credit,” a Cibil-Sidbi report said on Wednesday.
Maharashtra police has arrested Bank of Maharashtra CMD Ravindra P Marathe (in pic) and former chief Sushil Muhnot for sanctioning Rs 3,000 crore loan through fraudulent means to Pune-based real estate company DSK Group.
Pune-based auto components maker Varroc Engineering announced a Rs 1,955-crore initial public offering in the price band of Rs 965 to Rs 967 a share of Re 1 face value.
The IPO opens on June 26 and closes on June 28.
RBI on Tuesday tightened norms for liberalised remittance scheme (LRS) by making quoting of permanent account number (PAN) mandatory even for transactions below $25,000.
Under LRS, all resident individuals, including minors, are allowed to freely remit up to $2,50,000 per financial year for any permissible current or capital account transaction or a combination of both.
Housing loans of up to Rs 35 lakh, for dwellings costing less than Rs 45 lakh, will be treated as priority sector lending (PSL) to give a fillip to the low-cost segment, the Reserve Bank of India (RBI) said on Tuesday. PSL loans are relatively cheaper than market interest rate.
Global trade war is weighing heavily on Indian markets. The rupee continued to reel under severe pressure amid a steady outflow of foreign portfolio money. The domestic currency closed at one-month low of 68.38 against the US dollar on Tuesday, down 40 paise from its previous close. As the political heat also adds to the investor sentiment, experts in foreign exchange said the rupee may test the 70 level towards end-2018.
Amid the tug of war between the AAP dispensation and Lieutenant Governor, Delhi chief minister Arvind Kejriwal has found the support of three more regional players — Shiv Sena, Samajwadi Party (SP) and Janata Dal United.
While senior SP leader Ram Gopal Yadav visited deputy chief minister Manish Sisodia and Health minister Satyendar Jain at the hospital, and assured them that if need be, “we will also sit on dharna”, JD(U) spokesperson Pawan Verma told a TV news channel on Sunday, “An elected government should be allowed to work without any interference.”