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Aavas Financiers to make market debut on Monday
Housing finance company Aavas Financiers, which raised Rs 1,734 crore through an initial public offering recently, will list its shares on the exchanges on Monday.

The IPO, which opened from September 25-27, was subscribed 97 per cent at a price band of Rs 818 to Rs 821 per share.

Effective Monday, October 8, 2018, the equity shares of Aavas

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MUMBAI: Stocks slumped to a six-month-low and the rupee sank below 74 after the Reserve Bank of India (RBI) kept interest rates unchanged, belying investor expectations that rates would be increased to stem the local currency’s fall.

Foreign portfolio investors stepped up the sale of Indian stocks, pulling out ₹3,370 crore amid growing uncertainty

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Non-Banking Finance Companies (NBFCs) received lessons on asset-liability management from the central bank Friday after a series of IL-FS defaults led to a near seizure of short-term money markets last month, signalling likely tighter regulations for the industry that takes credit to the unbanked in India.

At the post-policy interaction with

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China cuts CRR for fourth time in 2018 as growth slows
BEIJING: China's central bank said on Sunday it would cut the amount of cash that some banks must hold as reserve to lower financing costs and spur growth in the world's second-biggest economy.

The reserve cut, the fourth by the People's Bank of China (PBOC) this year, came after Beijing pledged to expedite plans to invest billions of dollars in

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Government will ensure IL FS highway projects are completed on time: Nitin Gadkari
NEW DELHI: The government would ensure that all national highway projects being executed by the beleaguered Infrastructure Leasing and Finance Services (IL-FS) are completed within specified timelines, road transport and highways minister Nitin Gadkari told ET.

“No project will be stuck and we will be playing the role of a facilitator, w

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Sebi bans Celestial Biolabs, 2 others from the capital mkts for 10 yrs
Regulator Sebi Friday barred Celestial Biolabs as well as its chairman A N Singh and wife Padma Singh from the capital markets for 10 years for fabricating the company's sales figures and making false disclosures. Besides, the capital markets watchdog has restrained Celestial Biolabs' statutory auditor Lakshmi Purna - Associates for not being
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IPOs, FPOs, ESoPs exempt from STT for concessional LTCG tax
Initial public offerings, bonus, rights issues and ESoPs will be eligible for concessional rate of 10 per cent long-term capital gains (LTCG) tax even if the Securities Transaction Tax has not been paid earlier.

In the 2018-19 budget, the government had after a gap of 14 years reintroduced concessional 10 per cent on LTCG tax exceeding Rs 1 lakh

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BAT turns down ITC proposal to hand out ESOPs
MUMBAI: British American Tobacco (BAT) defeated a special resolution to grant stock options to employees of ITC and its subsidiaries in a move that rekindled memories of the battle for control between the overseas shareholder and the Indian company’s management that raged two decades ago.

BAT didn’t support the move, the first time it has done so o

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By Andy Mukherjee

When the world’s de facto central bank rustles up an interest-rate whirlwind, you don’t use a fig leaf of flexible exchange rates to stand in its path. That memo, already well-received in Indonesia, doesn’t seem to have reached India.

The Reserve Bank of India chose to hold its policy interest rate at 6.5 percent on Friday.

An

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FPIs pull out Rs 9,300 crore in just 4 sessions
New Delhi: Foreign investors have pulled out over Rs 9,300 crore (USD 1.3 billion) from the Indian capital markets in the last four trading sessions on unabated fall in rupee and rise in crude oil price.

The latest withdrawal comes following a net outflow of over Rs 21,000 crore from the capital markets (both equity and debt) last month. Prior to

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In 2018, EMs hiked rates to arrest currency slide

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Yes Bank names TS Vijayan OP Bhatt as external members for MD selection panel
Private sector lender Yes Bank has named former IRDA chief TS Vijayan and former SBI chief OP Bhatt as external members in the search committee to find a new CEO. The five-member panel will also consist of board members Brahm Dutt, Lt Gen (Retd) Mukesh Sabharwal and SC Kalia, the bank said in a regulatory filing on Friday. The MD selection panel
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NEW DELHI: While an over 4,600-point fall in the BSE Sensex in 25 sessions has baffled one and all, thanks to a host of factors such as a weakening rupee, rising crude oil prices and spiking bond yields, some analysts feel there is more pain left in this market.

With US sanctions on Iran coming in a few weeks and back home five states- Madhya

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Government steps will stabilise IL FS, fully back new management: RBI
Mumbai: The Reserve Bank of India on Friday welcomed the government intervention in the IL-FS crisis as a "timely move" which has "helped stabilise the situation" at the infra lender, and offered full help to the new management.

The regulator is also looking at strengthening the guidelines to avoid situations of asset liability mismatches by

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Inflation target lowered, but risks remain
Mumbai: The Reserve Bank has lowered its inflation target for first quarter of 2019-20 to 4.8 per cent from 5% in its August statement. But the central bank has also warned about the upward risk to inflation on account of higher food and crude prices. Moreover, depressed financial market condition could also hurt investments.

Uneven rainfall

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State elections will add to market volatility: How to position yourself
NEW DELHI: The announcement of elections in five states will only add to the ongoing volatility in the market, which is already bogged down by a free fall in the rupee, rising crude oil prices and liquidity crunch in the system.

Analysts said the market had not yet factored in state election outcomes, but believe the recent selloff has taken care

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This week was a nightmare, not only for the bulls but also for the government and the regulators. RBI, Sebi and the government together tried to curtail the contagion in the market through various initiatives such as allowing OMCs to tap the ECB route to raise up to $10 billion, which will take the pressure off dollars and might help calm the
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Thomas Cook India Group acquires 24% stake in TravelJunkie Solutions
New Delhi: The Board of Thomas Cook India on Friday approved the acquisition of a 24% strategic stake in TravelJunkie Solutions Private Limited, a Mumbai based travel tech start-up via its wholly owned subsidiary TC Tours.

TravelJunkie Solutions developed Ithaka – a chat-based mobile application serving FIT (Free Individual Travellers) customers b

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On Dalal Street, the week gone by was one we would like to forget quickly. There were all the ingredients for the market to stage a strong pullback, but those got completely overpowered by macro-economic realities; both global and domestic.

The benchmark Nifty50 saw one of the worst weekly performances ever, as it ended with a loss of 614 points,

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By Pavan Burugula

MUMBAI: The current bout of persistent selling in Indian equities has prompted the government to go slow on its proposed stake sale in Axis Bank, and an extended volatile run in growth assets may also lead New Delhi to defer some of the initial share sales scheduled to be completed in FY19.

Market sources told ET that the

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NEW DELHI: The domestic equity market witnessed the biggest weekly decline in two years, as benchmarks Sensex and Nifty lurched sharply lower in Friday’s trade after the Reserve Bank of India (RBI) maintained status quo on repo rate in its fourth bimonthly policy review.

A plunging domestic currency and rising crude oil prices remained an

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By DK Aggarwaldk

Over the years, there were two main reasons for the Indian stock markets to gain, low crude oil prices and plenty of liquidity in global markets thanks to soft money policies of major central banks.

While low crude prices turned the Indian economy from wealth destroyer to wealth creator in terms of better fiscal positioning,

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Voda Idea, Bharti Airtel likely to post losses, Reliance Jio may grow profits
India’s new telecom market leader Vodafone Idea Ltd (VIL), which will present consolidated earnings for the first time, is likely to report a sizeable loss in the fiscal second quarter ended September 30, paced by low subscriber additions and rising 4G network expansion costs.

No. 2 carrier Bharti Airtel is also likely to post a significant

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Tech View: Three Black Crows on Nifty chart shows selloff not over
NEW DELHI: The Nifty50 hit a two-year low in an eventful session on Friday and form a ‘Three Black Crows’ pattern on the daily chart, which suggests the market is not done with the correction yet.

On the weekly scale, the index formed a bearish candle for the fifth week in a row. It has been making lower highs and lower lows all this while, and

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By Lu Wang and Sarah Ponczek

If there’s one thing the prophets agree on, it’s that the end will come in the bond market. Even for stocks.

Prophesies of doom are everywhere. There’s billionaire investor Stan Druckenmiller, who says our “massive debt problem” will ignite a crisis. Oaktree Capital’s Howard Marks warns that public and private debt will

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MUMBAI: Investors in oil marketing companies have lost Rs 1.39 lakh crore of wealth in the last two days after the government's decision to ask these firms to absorb a portion of the cut in excise duty on fuel prices. The move is perceived as the government backtracking on oil sector reforms, including free pricing of petrol and diesel.

Three oil

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F O: High volatility shows bears holding a tight grip on this market
By Chandan Taparia The Nifty50 index opened in the negative and slipped towards the 10,250 mark amid continued selling pressure. It has been making lower highs and lower lows on the weekly scale and tanked around 1,500 points in last five weeks. It has formed a bearish candle on daily and weekly scales, which suggests the bears are holding a
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IL FS misses more debt payments, showing takeover no instant fix
By Anurag Joshi and David Yong

Infrastructure Leasing - Financial Services Ltd. is missing more debt obligations, even as the Indian government pledged to prevent further defaults, underscoring the challenges its new board faces in fixing the firm’s mounting debt problems.

IL-FS failed to service principal and interest on loans from banks,

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Post policy, currency bonds head in opposite directions
MUMBAI: India’s debt and currency markets had starkly different reactions to the central bank’s rate action, with bond yields declining on expectations of lower inflation while the local monetary unit plunged to unprecedented lows and drove down equities.

The benchmark bond yields dipped 13 basis points to close at 8.03 per cent pushing prices up.

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Why really stocks crashed, and how D-Street interprets this fall
NEW DELHI: The domestic equity market witnessed the worst week in over two years as benchmark indices Sensex and Nifty came tumbling like a pack of cards, caught off-guard by RBI's decision to hold key lending rate unchanged at 6.50 per cent. However, the central bank did change its stance from ‘neutral’ to ‘calibrated tightening’.

This move was

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