StockMarket

Covid-19 and YES Bank saga among 7 factors that may steer market next week
Coronavirus continued to grab headlines during the week gone by and the next week may not be much different as the number of new cases is rising across the world. Along with this, new developments in the YES Bank story will be a key factor dictating market direction.

Meanwhile, the government will release key macroeconomic data, including those

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The scare of a global economic slowdown following the outbreak of coronavirus saw world markets take a severe knock, and Indian equities were not spared. While trading on anticipated lines, the Indian equity market saw a volatile week wherein the headline Nifty index moved in the range of 606 points.

With the pressure remaining consistent at

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Mutual fund investors will likely see the net asset values (NAVs) of their investments drop in schemes that hold Yes Bank’s debt after the central bank imposed operational curbs, capping withdrawals to prevent a run on the stressed lender.

As per data from Rupeevest, 32 mutual fund schemes cumulatively hold debt worth Rs 2,848 crore in Yes Bank as

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Default by some NBFCs on secured debentures pushes Sebi to introduce reforms
New Delhi: A spate of defaults by some NBFCs has forced capital markets regulator Sebi to come out with a new set of measures to secure the interest of debenture holders and shore up their confidence in the regulatory mechanism to check any wrongdoings.

In a new consultation paper, the Securities and Exchange Board of India (Sebi) has proposed a

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Charting the Economy: Central banks offer band-aid for virus
By Zoe Schneeweiss and Vince Golle

The Federal Reserve and several other central banks swung into action this week with rate cuts aimed at mollifying the economic fallout from the coronavirus.

Amid the whipsaw in financial markets, US jobs figures showed an economy with plenty of juice prior to a heightening of concerns about the virus. While China’

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Trying to catch a falling knife? Chances are that you would bleed. That’s the unequivocal message of the Yes Bank saga. Investors trying to catch ‘falling knife’ stocks, such as GTB, Kingfisher Airlines, Jet Airways, DHFL, Manpasand, Jain Irrigation, Sintex, PC Jewellers and Yes Bank, would have been wiped out.

Retail investor holding in many of

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The week that was in 10 stocks: YES, OBC, Voda stole the show
NEW DELHI: Back-to-back big falls in US stocks amid fear of coronavirus outbreak and back home concerns over possible cascading effect of the YES Bank crisis sent domestic indices tumbling during the week gone by.

Sensex fell 720 points, or 1.88 per cent, for the week to close at 37,576. Nifty dropped 212 points, or 1.89 per cent, to 10,989. Amid

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Spiraling virus fears are causing financial carnage
By David Enrich, James B. Stewart and Matt Phillips

There is nothing investors hate more than uncertainty. Right now, that is all there is.

Uncertainty about the severity and duration of the coronavirus outbreak, ripping around the world at something like light speed. Uncertainty about how the global economy will fare as factories, airports,

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FIs to oppose write-down of YES Bank's perpetual bonds
Mumbai: Several institutional investors are planning to come together to oppose the central bank’s proposal to write down Yes Bank’s perpetual bonds — tier-I bonds in market parlance — that total more than ₹8,400 crore.

Investors of these outstanding bonds are discussing the possibility of advising the bond trustee to legally challenge the

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The truth is women make better investors. Here's the reason why
By Jyoti Vaswani

In today’s world, the role of a women has undergone a sea change compared with yesteryears and is making its greatest impact in society. Earlier a women’s contribution to society was limited and controlled by men. However today, women are standing tall and playing a major role in various arenas like politics, defence, sports, IT, fi

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Burman family increases holding in Eveready Industries to 9.26%
The Burman family, promoters of Dabur India, have picked up a 9.26 per cent stake in Kolkata-based Eveready Industries, the country’s largest dry cell batter maker. The transactions have been initiated through Guardian Advisors.

Owned by Arjun Lamba and others, portfolio management firm Guardian Advisors (GA) manages the investment for the

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MUMBAI: Banking shares were among the top losers in the sell-off on Friday as the crisis at Yes Bank raised worries about a knock-on effect on the financial system.

Yes Bank’s stock slumped 57% to close at ₹16.6. Major banks, like Kotak Mahindra Bank, HDFC Bank, Bank of Baroda, Axis Bank, ICICI Bank and IndusInd Bank between 1% and 6%. SBI, which

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FPIs turn net sellers, pull out Rs 13,157 crore in March so far
New Delhi: Snapping their six-month buying streak, FPIs pulled out a net Rs 13,157 crore from the Indian capital markets in the first five trading sessions of March as the coronavirus outbreak spooked investor sentiment.

According to depositories data, foreign portfolio investors (FPIs) withdrew a net Rs 8,997.46 crore from equities and Rs

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Coronavirus: Has it thrown up an opportunity in crisis for India Inc?
By DK Aggrawal

The deadly coronavirus, which has killed more than 2,600 people in China, continues to spread to Iran, South Korea, Italy and some 90 other countries. Global markets have been hit by a major selloff, as Covid-19 spreads beyond China.

In India, infections have been relatively less, with only a few confirmed cases till last week. And

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Brokers restrict trade via YES Bank, ask clients to change primary account
MUMBAI: Mutual fund houses and brokerages Friday morning made frantic calls to their investors who are due to receive redemptions or payouts into linked Yes Bank accounts.

The Reserve Bank of India (RBI) action late Thursday on the stressed lender came as a shock to many of its customers using Yes Bank accounts for trading in equities or

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Women's Day Special: Time ripe for a serious overhaul to ensure gender equality in workforce
By Koel Ghosh

As a mother to a precocious teenage daughter, one of the issues that I care deeply about is promoting diversity and inclusion in the workplace and supporting initiatives that help increase female representation in the executive ranks and boards of companies and institutions.

The financial services industry today is testament to the

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Yes Bank failure exposes India to wider credit risk: Nomura
By Sabari Saran

Even as the government and the Reserve Bank of India (RBI) try to put together a rescue arrangement for YES Bank, global investment firm Nomura has warned that these repeated relief measures are symptomatic of wider credit risks that still lurk in India’s financial system.

Yes Bank, India’s fifth largest private lender, accounts for

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Sebi reviews mechanism regarding guarantees extended by listed firms
New Delhi: To protect the interests of shareholders, regulator Sebi on Friday proposed that a listed entity shall obtain prior approval from the shareholders on a "majority of minority" basis, before extending any loan, guarantee or security for the benefit of promoter entities.

Sebi, in a consultation paper, said the listed entity shall extend a

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Tweet Buster: Buy or take a step back why Yes Bank is a case of terminal illness
NEW DELHI: It was an action-packed week for financial markets across the globe. Fear of coronavirus and its impact on the global economy haunted policymakers and investors alike and prompted the US Federal Reserve to cut interest rates. But the action did not leave market participants elated.

Closer home, as the YES Bank saga unfolded, it did not

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During the week gone by, the market witnessed nerve-wrecking volatility alongside extreme fear. The reasons for the fear may be different when seen from a historical perspective, but the very same history vindicated the fact that those times were opportunities to buy, certainly not situations to sell.

It succinctly reflects that the more things

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Fundamentals of Indian economy strong, policies are clear: PM Modi
NEW DELHI: Prime Minister Narendra Modi on Friday hit out at 'right talking' critics of his government's decisions such as the new citizenship law and scrapping of special status for Jammu and Kashmir, saying they have hatred for people who walk the path of 'doing the right things' and break the status quo.

Speaking at the ET Global Business Summit

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Six of top 10 firms lose Rs 95,432 crore in m-cap; RIL takes biggest hit
New Delhi: Six of the 10 most valued domestic companies suffered a combined erosion of Rs 95,432.26 crore in market valuation last week, dragged down by Reliance Industries Limited (RIL) and HDFC Bank amid a bearish trend in the broader market.

During the last week, the BSE Sensex plunged 720.67 points or 1.88 per cent. On Friday, the Sensex

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Depositor money safe, says SBI chief
SBI Chairman Rajnish Kumar on Saturday said the bank has received the draft scheme of reconstruction for crisis-hit Yes Bank. Bank officials are doing due diligence of the draft scheme, he added.

"We have received draft scheme of reconstruction for Yes Bank. Our investment and legal team is doing due diligence," Kumar told reporters here. He also

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Investors flee Wall Street, seek shelter in bond and gold
US stock markets tanked and the Dow Jones Industrials shed more than 800 points on Friday, as the global tally of coronavirus infections surpassed 100,000 and jittery investors took cover in the perceived safety of bonds and gold.

The outbreak, which spread to four new U.S. states on Thursday, has crippled supply chains and prompted a sharp cut to

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By Alfred Liu and Chanyaporn Chanjaroen

Asia’s super rich suddenly have lots of time on their hands.

The coronavirus has forced many of them to work from home, cancel travel and avoid the golf course. That’s left them more time to trade stocks amid the turmoil, boosting revenue for Citigroup Inc. and other banks in the region.

“Clients are getting r

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SBI says YES Bank rescue math by Monday, due diligence underway
State Bank of India (SBI) on Saturday said it has time till Monday to respond back to the Reserve Bank of India (RBI) on the draft scheme for rescue of Yes Bank, India’s fifth private lender.

SBI Chairman Rajnish Kumar told a press conference in Mumbai that the bank’s legal team has been doing due diligence on draft scheme proposed by RBI for b

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Moodylowers YES Bank rating to ‘Caa3& from ‘B2&
Mumbai: Moody's Investors Service on Friday downgraded YES Bank’s long-term foreign currency issuer rating to ‘Caa3’ from ‘B2’, and said the ratings remain under review, with the direction uncertain.

The ratings agency also downgraded the bank's long-term foreign and local currency bank deposit ratings to ‘Caa1’ from ‘B2’, and its foreign currency

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ED arrests YES Bank founder Rana Kapoor under PMLA

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SBI set to acquire 49% in Yes Bank even as ED raids promoter Rana Kapoor
MUMBAI/DELHI: A day after the Reserve Bank of India superseded the Rana Kapoor-promoted Yes Bank board and capped cash withdrawals at Rs 50,000 (Rs 5 lakh in exceptional situations) and the State Bank of India said it was “exploring an investment opportunity” in Yes, the RBI on Friday came out with a “draft reconstruction scheme” under which SBI wi
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Antony Waste Handling Cell extends IPO period; issue subscribed 50% on Day 3
Mumbai: Antony Waste Handling Cell extended the bidding period for its Rs 206 crore IPO to March 16, citing market volatility and the moratorium imposed on YES Bank. The issue remained undersubscribed at 50 per cent on Day 3 of the bidding process on Friday.

The issue of the solid waste management company saw bids for 24,08,850 shares compared

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