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India's sovereign rating restricting upgrade on HDFC Bank's ratings: S P
MUMBAI: Despite expecting challenges to the Indian banking system because of the COVID-19 pandemic, global ratings agency Standard and Poor's feels HDFC Bank will be resilient and said that the country's sovereign rating restricts it from upgrading the country's largest private sector lender.

It appreciated HDFC Bank's comfortable capitalisation,

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NYSE and Nasdaq challenger MEMX delays launch due to coronavirus crisis
NEW YORK: The Members Exchange (MEMX), a new bourse backed by major Wall Street firms looking to take on the New York Stock Exchange and Nasdaq Inc through lower fees, said on Friday it delayed its planned launch date due to the coronavirus crisis.

MEMX now expects to launch at some point in the third quarter, rather than on July 24, and has

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Goldman predicts 36% drop in iPhone shipment, says time to sell Apple shares
Goldman Sachs said on Friday it expects iPhone shipment to drop 36 per cent during the current quarter due to coronavirus-related lockdowns around the world and downgraded Apple Inc stock to "sell".

Apple shares fell 1.6 per cent to $282.13 on Friday morning, bucking a 1.5 per cent rise for the benchmark S-P 500.

The Goldman analysts also

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A portfolio that lets one sleep well is what an investor should aim for
By Amit GroverWhile accepting the Noble prize for economics, Friedich Hayek made an astonishing admission: “Not only were economists unsure about their predictions, but their tendency to present their findings with the certainty of the language was misleading.”

Economics is not like physics where you have a definitive answer to a given problem. In

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HDFC Bank Q4: Covid provisions, auto slippages other key monitorables
NEW DELHI: In its recent quarterly update, HDFC Bank reported a strong 21 per cent year-on-year growth in advances at Rs 9.93 lakh crore as of March 31, and 24 per cent jump in deposits at Rs 11.46 lakh crore.

Analysts said the private lender may report a marginal in rise non-performing assets and stable NIMs when it announces its March quarter

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Business confidence plummets to lowest level since 1998
A quarterly business confidence index put out by economic think tank National Council for Applied Economic Research -- N-BCI -- dropped by over 30% in the last quarter of the previous fiscal year, it said on Friday.

The N-BCI fell to 77.3 from 111.2 in the third quarter, and the lowest since 1998 when business sentiment was low due to the Asian

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HDFC Bank Q4 results take Rs 450 crore Covid-19 hit: 5 key takeaways
NEW DELHI: HDFC Bank on Saturday marginally missed Street earnings estimates as it doubled its provisions in order to deal with Covid-related contingencies that may arise in the near future.

It reported 17.7 per cent year-on-year (YoY) rise in net profit at Rs 6,927.70 crore. Net interest income for the quarter climbed to Rs 15,204 crore from Rs

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RBI increases WMA limit for states by another 30%
Kolkata | Mumbai: The Reserve Bank of India (RBI) has provided relief to state governments by raising their short-term borrowing limit by an additional 30%. This move is likely to rein in states’ borrowing costs as they would not bunch up auctioning of bonds.

This is estimated to create a space for Rs 12,000 crore for the state governments looking

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By Anirban NagIndia's reserve bank guv laid the ground for even more interest rate cuts as he took a number of actions to boost liquidity as well as assistance lending institutions amid an across the country lockdown that's brought the economic climate to an online standstill. Guv Shaktikanta Das kept the benchmark repurchase price unmodified at 4.4 percent on Friday, yet signaled that
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Government nod must for investment from China and its neighbours
NEW DELHI: India has clamped down on investments from China making prior government clearance mandatory for all forms investments, even indirect ones, from all countries sharing land border with the country.

The department for Promotion of Industry and Internal Trade on Saturday issued a press note 3 (2020 series) stating that foreign investments

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Banks told not to pay dividend, conserve capital
Mumbai: The Reserve Bank of India (RBI) on Friday barred banks from paying dividends for the fiscal year ended March 2020 so that they conserve capital in view of the economic shock caused by the Covid-19 pandemic.

In his address, which included other policy measures, RBI governor Shaktikanta Das said the ban on dividend payment will help banks

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KKR looking to sell stake in Indian waste collection firm
By Baiju Kalesh and Anto Antony

KKR - Co. is considering a sale of its controlling stake in Ramky Enviro Engineers Ltd. a year after it completed the purchase of the Indian environmental services provider, according to people familiar with the matter.

The buyout firm has held initial talks with prospective suitors including a Chinese company,

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The week that was in 10 stocks: NBCC, Voda, IndusInd and others
Capping off a volatile week, domestic equity Indices finally closed with around 1.5 per cent gains, registering a positive close for the second consecutive week, largely on global cues and hopes of economic stimulus from the government.

Nearly 400 of BSE500 stocks ended the week with gains. Banks and construction companies were at the forefront of

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Realty companies, NBFCs get leeway on commercial project loans
Mumbai: The Reserve Bank of India (RBI) on Friday threw a lifeline to non-bank lenders and real estate firms by allowing the former to restructure commercial realty project loans for a year. These finance companies will now be able to restructure such loans without those being classified as restructured assets, and give fresh funding to developers.
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Sebi slaps Rs 5 lakh fine on two individuals for delay in making open offer

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Tata Motors stock in focus as JLR suspends production outside China, sees 31% drop in March quarter sales
NEW DELHI: Shares of Tata Motors would be in focus on Monday after the automaker informed exchanges that British arm Jaguar Land Rover (JLR) has temporarily suspended production at its facilities outside China.

The automaker said JLR sales tumbled 30.9 per cent in the March quarter to 1,09,869 units and that the company is tightly managing all

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Wall Street gains on Boeing surge and coronavirus drug hopes
U.S. stocks rose on the day Friday and also posted gains for the week, boosted by a surge in Boeing shares, President Donald Trump's plan to reopen the coronavirus-battered economy and hopes of a potential drug by Gilead to treat COVID-19.

The Nasdaq added 6.1% for the week and registered its biggest two-week percentage gain since 2001.

Boeing

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RBI concludes final tranche of Rs 1 lakh crore TLTRO, infuses Rs 25,000 crore
Mumbai: The Reserve Bank on Friday conducted the fourth and the final tranche of the Rs 1 lakh crore targeted long term repo operation (TLTRO) by infusing Rs 25,000 crore into the system.

While the TLTRO was announced on March 27, the LTRO was introduced at the February 6 monetary policy review when it announced Rs 1-lakh crore infusion through

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HDFC Bank Q4 results: Profit jumps 18% to Rs 6,928 crore YoY; provisions double to Rs 3,785 crore
NEW DELHI: HDFC Bank on Saturday reported a 17.7 per cent year-on-year (YoY) rise in net profit at Rs 6,927.70 crore. This included a taxation of Rs 2,246.60 crore.

The figure marginally missed ET NOW poll estimate of Rs 7,002 crore.

HDFC Bank's Net interest income for the quarter climbed to Rs 15,204 crore from Rs 13,089 crore, driven by 21.3

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Small currency exchange companies stuck to excess fx for the previous one month adhering to travel restrictions want RBI to guide State Bank of India (SBI) as well as other PSU banks to buy money from them as they expect a 6-8 month time-out in worldwide traveling following the Covid-19 pandemic. The larger, arranged AD2 RBI permit holders stated they
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Mumbai: Smallcap business controlled the bulk deals once more in Friday's trade. For the day, the 30-share Sensex shut 3.22 percent or 968.11 factors greater at 31,588.72, while the 50-share Nifty progressed 3.05 percent or 273.95 factors to close at 9,266.75. Virtually Rs 3 lakh crore were contributed to the marketplace capitalization of BSE-listed firms. Below's
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After a sharp technological pullback in the week before this one, Indian equities proceeded to prolong the pullback, but on a very moderate note. The trading range over the past 5 days remained large, around 500 factors, yet kept the internet step-by-step gains restricted. Given the near-oversold nature of the marketplace on the longer duration graph, Nifty expanded
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RBI to conduct first auction under TLTRO 2.0 for Rs 25,000 crore on April 23
Mumbai: The Reserve Bank on Friday said it will conduct the first auction under the Targeted Long-Term Repo Operations 2.0 (TLTRO) for an amount of Rs 25,000 crore on April 23.

It is aimed at providing liquidity to small and mid-sized corporates, including non-banking financial companies (NBFCs) and micro finance institutions (MFIs) impacted by

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Dow Jones rallies on Boeing bump, Trump's restart plan
Wall Street bounced on Friday as Boeing said it would resume production of commercial jets next week, with investors also cheering President Donald Trump's plan to reopen the economy and on hopes of a potential drug to treat COVID-19.

The US planemaker's shares soared 11.7 per cent on plans to resume commercial aircraft production in Washington

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Residential equities stayed unequal along with traded higher during the week passed on hopes that the government and additionally RBI would introduce fresh aid to bring back the financial scenario as well as construct market confidence by instilling liquidity and also monetary incentives. RBI did this partly, which led markets higher by the close of the week. Along with such excitement, the combined
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SC dismisses UBS& plea in Future Retail pledge share sale matter
MUMBAI: In a major relief for the promoters of the Future Group, the Supreme Court on Friday dismissed a Special Leave Petition (SPL) filed by the UBS AG London Branch challenging the Bombay High Court ruling, that restrained IDBI Trusteeship and others from selling pledged shares of shares in Future Retail.

On Friday, the division bench of the

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S P revises outlook for Shriram Transport Finance, four other NBFCs to negative
Mumbai: International rating agency S-P Global Ratings on Friday lowered the rating on Shriram Transport Finance Company (STFC) to BB from BB+ and revised its and four other NBFCs' outlook to negative.

The rating agency has revised the outlook on Bajaj Finance (BFL), Manappuram Finance, Muthoot Finance and Power Finance Corpration (PFC) to

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US bailout watchdog vows to scrutinize share buybacks, dividends
WASHINGTON: An official charged with overseeing how the US government handles $500 billion in bailout funds said on Friday he will also monitor how companies use the cash, including for share buybacks, dividends and staff compensation.

Bharat Ramamurti, who was named this month as a member of the Congressional Oversight Commission to regulate

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RBI norms may put a Rs 35,000 crore hole in banks& profits
Mumbai: The Reserve Bank of India’s mandate to set aside 10 per cent provisioning on standstill accounts could hit bank books by as much as Rs 35,000 crore estimates Brickwork Ratings.

The rating agency has said that these new norms could severely pinch banking sector profitability for fiscals 2020 and 2021 and flagged that banks ability to manage

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Sebi extends reduced cut-off time for MFs subscription, redemption
New Delhi: Markets regulator Sebi has decided to extend the reduced cut-off time for subscription and redemption of mutual funds, including liquid and overnight schemes, till April 30 amid the ongoing nationwide lockdown to deal with coronavirus pandemic.

Earlier, the revised timings were applicable from April 7-17. The move comes after the

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