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Baring sells Rs 721 crore Manappuram shares
New Delhi: Baring India on Tuesday divested stake worth over Rs 721 crore in Manappuram Finance Ltd through open market transactions.

As per the bulk deal data on BSE, Baring India Private Equity Fund II and Baring India Private Equity Fund III offloaded a total of 4,14,60,136 shares at an average price of Rs 174 apiece.

This took the total deal

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Sebi welcomes Budget announcement on DDT
Capital markets regulator Sebi chief Ajay Tyagi on Tuesday welcomed the Budget announcement of putting the onus of paying dividend distribution tax (DDT) on the investor rather than the company.

He also said the watchdog has sought replies from fund houses like Franklin Templeton who have marked down their investment for debt holdings of telecom

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PNB Q3 results: PSU lender posts surprise loss of Rs 492 crore as provisions spike 73%
NEW DELHI: Public lender Punjab National Bank on Tuesday reported a surprise standalone loss of Rs 492.28 crore for the December quarter compared with a profit of Rs 246.51 crore in the same period last year.

Analysts were expecting a spike in the profit number on account of recovering from an NCLT account.

The PSU bank said provisions for the

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Zee group unit's bonds trading at 25% discount
Mumbai: Bonds of a Zee group company were traded at a deep discount, with the finances of the Subhash Chandra-controlled empire said to be getting weaker.

Bonds of Diligent Media Corporation, a Zee group company, were traded at a discount of about 25% with the transaction size at about 500 crore. The unlisted bonds were transacted in three

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Bajaj Electricals Q3 results: Net down 84% at Rs 9 crore
New Delhi: Bajaj Electricals on Tuesday reported a 84.51 per cent decline in its consolidated net profit at Rs 9.37 crore for the third quarter ended on December 31, 2019.

The company had posted a net profit of Rs 60.52 crore in the October-December quarter a year ago, Bajaj Electricals said in a BSE filing.

Its net sales was down 40.91 per cent

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China shares end higher as central bank calms virus fears
Chinese stocks ended higher on Tuesday as the central bank vowed to stabilise the market, regaining some ground from the coronavirus-led rout that erased almost $400 billion in market value from the Shanghai benchmark in the previous session. The Shanghai Composite index closed up 1.3 per cent at 2,783.29 — the biggest daily gain since Dec. 13, 2
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Ind-Ra turns bearish on auto ancillary sector
Mumbai: With the lingering crisis in the auto sector, which has been going through the worst demand fall in two decades, the ancillary players are in for a bad times in FY21, says a report.

India Ratings has accordingly placed a negative outlook on the sector as it expects flat-to-low single-digit growth in auto volumes next year, after falling in

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Titan Q3 profit rises 13% YoY: Key takeaways
Titan Company on Tuesday reported a 13 per cent growth in profit largely due to good festival sales during October-November. However, the company noted that footfall across its stores fell during December.

The revenue growth was led by the jewellery segment, while growth in other segments were muted during the quarter.

Here are key takeaways from

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IndiaBudget not bold enough, but LIC an attractive opportunity for us: Mobius
Finance Minister Nirmala Sitharaman’s Union Budget was not as bold enough as people would have liked to see, says Mark Mobius, Emerging Markets guru and Founder of Mobius Capital Partners. He said the tax simplifications were in some way confusing. He rates the Budget at six to seven on a scale of 1-10.

Edited excerpts from a telephonic

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View: Budget proposals will have negative impact on insurance sector
By Sunil BadalaFinance minister Nirmala Sitharaman’s Budget is woven around three prominent themes (i) Aspirational India (ii) Economic development (iii) A Caring Society. In furtherance of these prominent themes, the government has made several policy and tax announcements.

The government recognises the importance of focussing on the

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RBI's rate setting panel starts meeting amid rising inflation, slowing GDP
Mumbai: Reserve Bank of India Governor Shaktikanta Das headed six-member rate setting panel started its three-day brainstorming meeting on Tuesday in the backdrop of Union Budget projecting a widening of fiscal deficit amid slowing economy and hardening inflation.

The Monetary Policy Committee (MPC), which announces the benchmark lending rate

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Bank holidays for February, 2020

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Sebi brings in common application for FPI registration
New Delhi: Markets regulator Sebi on Tuesday come out with a common application form for registration of foreign portfolio investors in order to enhance operational flexibility and ease of access to Indian capital market.

Depository participants have been asked to continue to accept in-transit FPI registration applications, for a period of 60

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By Prashant Shah Nifty recorded a significant low at 10,670 on September 19, 2019 and then went on to hit an all-time high at 12,430 on January 20, 2020.

But that does not tell the real story. The strength of the overall market trend can be gauged only from the participation of stocks in a rise or fall. If more stocks and sectors participate in a

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How the equation changed for debt equity investors post Budget 2020
By Anirudha Taparia

Finance Minister Nirmala Sitharaman treaded a fine path by balancing all aspects in the Union Budget. Expectations prior to the Budget were very high. The need for big-bang stimulus to address the economic slowdown was much sought, and on that front, the Budget seemed to be have disappointed a bit.

We believe the long-term

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Sebi allows share issuance on conversion of restricted stock options
New Delhi: The issuance of shares following conversion of restricted stock options (RSUs) will be allowed under the buyback regulation, markets regulator Sebi has said.

Expressing its views on clarification sought by IT giant Infosys, Sebi said that buyback regulation restricts further issue of capital for a period of one year from the expiry of

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Share market update: Nifty Energy Index up; IOC climbs 5%
NEW DELHI: The Nifty Energy index was trading higher in Tuesday's afternoon session.

Shares of Indian Oil Corporation (up 4.81 per cent) , Bharat Petroleum Corporation (up 3.85 per cent) , HPCL (up 3.69 per cent) , GAIL (India) (up 3.32 per cent) , Oil - Natural Gas Corporation (up 2.56 per cent) , Power Grid Corporation of India (up 2.51 per

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SEBI proposes additional 10% interest to all the shareholders in case of delay in an open offer
Mumbai: The Securities and Exchange Board of India (Sebi) has proposed that in case of any delay in an open offer, the acquirer will have to pay an additional 10% interest to all the shareholders over and above the offer price.

The regulator on Monday said that there have been instances where open offers get delayed because of disputes among the

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NSE Nifty logged a massive rally on Tuesday on the back of strong short covering. The index on Monday had taken support at its 200-DMA and saw significant buildup of short positions, which pushed the market higher today, as the headline index ended well above its 100-DMA at 11,979.65, up 271.75 points or 2.32 per cent.

The manner in which Nifty

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Titan Q3 results meet Street estimates. Profit rises 13% to Rs 470 crore; sales up 8% at Rs 6,106 crore
Titan Company on Tuesday reported a 12.9 per cent year-on-year (YoY) rise in standalone profit at Rs 469.95 crore for December quarter compared with Rs 416.23 crore net in the same period last year. Analysts in an ET NOW poll had projected the profit at Rs 453 crore.

Sales for the quarter rose 8.40 per cent to Rs 6,105.96 crore from Rs 5,632.45

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Dividend yield funds could attract investors
Affluent investors usually prefer putting money in stocks directly rather than investing in mass products like mutual funds. But, after the proposal in the recent Budget to tax dividends at the hands of investors, they may have a reason to consider mutual funds especially dividend-yield schemes. This is because dividends that share portfolios of mu
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Airtel reports third quarterly loss, hints at tariff hikes: Key takeaways
NEW DELHI: Bharti Airtel on Tuesday reported a bigger-than-expected loss of Rs 1,035 crore, but improvement in mobile average revenue per user (ARPU), highest-ever quarterly rise in 4G users, surge in data traffic and likely tariff hikes were among the key positives. Analysts in an ET NOW poll had projected a loss of Rs 638 crore.

Here’s are key t

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Share market update: Mining stocks trade higher; NMDC gains 3%
NEW DELHI: Mining stocks were trading higher in Tuesday's afternoon session.

Shares of Orissa Minerals Development Company (up 8.95 per cent), Inani Marbles (up 4.93 per cent), Ceeta Industries (up 4.90 per cent), Aro Granite Industries (up 4.51 per cent), Oriental Trimex (up 4.00 per cent), Elegant Marbles (up 3.54 per cent), KIOCL (up 3.44 per

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Kotak Institutional upgrades Castrol to 'buy' from 'sell'
Mumbai: Kotak Institutional Equities has upgraded Castrol India to buy from sell and raised fair value to Rs 180 from Rs 130. Castrol ended calendar year 2019 on a strong note led by record-high margins reflecting raw material cost tailwind and steady volumes, said Kotak Institutional.

"We upgrade the stock to BUY from SELL raising our FV (fair

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NBFCs' wholesale book under severe stress: Report
MUMBAI: Rating agency Crisil on Tuesday warned of potentially high stress in non-banking lenders' wholesale book well above the reported bad loan numbers by March, indicating rising risks to their retail books.

It can be noted that almost all the NBFCs have been under severe liquidity stress since the fall of industry major IL-FS in September

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Piramal Enterprises Q3 profit surges 20% to Rs 724 crore
Ajay Piramal-led Piramal Enterprises on Tuesday reported 20.25 per cent rise in consolidated net profit to Rs 724.19 crore for the quarter ended December 31, 2019 mainly on account of robust growth in the pharma business. The company had posted a profit of Rs 602.04 crore for the same period a year ago, Piramal Enterprises said in a filing to the
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IDBI Capital downgrades Amara Raja Batteries to 'hold'

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Airtel Q3 results: Telco reports loss of Rs 1,035 crore; Arpu rises to Rs 135 QoQ
NEW DELHI: Telecom major Bharti Airtel on Tuesday reported a consolidated loss of Rs 1,035 crore for December quarter compared with a profit of Rs 86 crore in the same period last year.

Analysts in an ET NOW poll were expecting a loss of Rs 638 crore.

Average revenue per user (Arpu) for mobile services increased to Rs 135 from Rs 128 sequentially.

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European shares rise in early trade; resources lead

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IDBI Bank raises Rs 745 crore through Basel-III bonds
Mumbai: LIC-owned IDBI Bank on Monday said it has raised Rs 745 crore through issue of Basel III compliant tier 2 bonds which will help improve its capital position.

The 10-year bond was priced at a coupon rate of 9.50 per cent per annum payable annually, the bank said in a statement.

"The amount mobilised would be counted as part of tier 2

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