StockMarket

IL FS crisis: RBI brass meets LIC, Orix Corp
Mumbai: The Reserve Bank of India (RBI) on Friday met the large shareholders of debt-laden Infrastructure Leasing - Financial Services (IL-FS) to decide on revival and capital infusion plans for the company, sources said.

Deputy governors NS Vishwanathan and MK Jain have met the representatives of LIC and Orix Corporation of Japan, the two

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F O: Nifty options signal trading range between 10,800 and 11,171
By Chandan Taparia

The Nifty50 index opened positive but failed to hold above the 11,000 mark and continued its weakness towards the 10,850 level, which is the 50% retracement of the entire upswing from 9,952 to 11,760 levels.

The index has been making lower tops and lower bottoms for last four weeks and has corrected about 900 points from its

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Buy Tata Consultancy Services, target Rs 2370: Jay Thakkar
Jay Thakkar of Anand Rathi has a buy call on Tata Consultancy Services Ltd. with a target price of Rs 2370. The current market price of Tata Consultancy Services Ltd. is Rs 2187.8. Time period given by the analyst is Intra Day when Tata Consultancy Services Ltd. price can reach the defined target. Jay Thakkar recommended to keep stoploss at Rs
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Fed policy tightening may push up India's rates
Mumbai: India's interest rates are likely to remain elevated and may even squeeze out domestic liquidity as a fallout of the increase in the US Fed rate, said India Ratings' Anand Bhoumil.

Bhoumil is Chief Analytical Officer of India Ratings, a subsidiary of the Fitch Group.

Analysts are expecting the interest rates in the US to go up to 3.5 per

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RBI bars Bandhan Bank from opening new branches, freezes CEO's compensation
The Reserve Bank of India (RBI) today barred Bandhan Bank from opening new branches, and also ordered freezing of the bank's CEO salary over failure to stick to shareholding rules.

"RBI has communicated to us that since the Bank was not able to bring down the shareholding of Non Operative Financial Holding Company (NOFHC) to 40 percent as required

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Mumbai: The slide in Indian banking stocks may continue for some more time as they are susceptible to tightening liquidity, although the tide should turn for corporate banks on more stressed-asset resolutions and a halt to the upward movement in bond yields.

The BSE Bankex, which fell 1.6 per cent on Thursday, plunged nearly 11 per cent since

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BSE ready to kick off commodity trade on Oct 1; NSE delays launch
Indian financial markets will make a paradigm shift on Monday, when equity bourses will launch commodity trading for the first time, allowing trading in this asset class alongside all others on the same platform.

BSE will launch commodity derivative contracts from October 1 while NSE will kick off similar contracts from October 12, 2018.

Till

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By Andy Mukherjee

When even a 24-year-old Indian entrepreneur has no difficulty raising $1 billion in a day from global investors, it’s easy to forget that it wasn’t always like this.

Only two decades ago, a storied Mumbai financier could get away with raising $25 million of debt for a client, giving it just about half of that money five years

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Buy Bata India, target Rs 1020: Manas Jaiswal
Manas Jaiswal of manasjaiswal.com has a buy call on Bata India Ltd. with a target price of Rs 1020. The current market price of Bata India Ltd. is Rs 979.9. Time period given by the analyst is Intra Day when Bata India Ltd. price can reach defined target. Manas Jaiswal recommended to keep stoploss at Rs 967. Bata India Ltd., incorporated in 1931,
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BSE ready to kick off commodity trade on Oct 1; NSE delays launch
Indian financial markets will make a paradigm shift on Monday, when equity bourses will launch commodity trading for the first time, allowing trading in this asset class alongside all others on the same platform.

BSE will launch commodity derivative contracts from October 1 while NSE will kick off similar contracts from October 12, 2018.

Till

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Buzzing stocks: Infibeam Avenues, YES Bank, DHFL, Maruti
NEW DELHI: With over 4.25 crore shares changing hands, Infibeam Avenues was leading among most traded stocks on NSE in morning trade on Friday.

YES Bank (number of shares traded: 4.05 crore) and Punjab National Bank (PNB) (2.02 crore) were up next.

Reliance Communications (1.95 crore), JP Associates (1.73 crore), DHFL (1.45 crore), GMR Infra (1.20

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RBI set to meet IL FS shareholders today
The Reserve Bank of India is set to meet shareholders of beleaguered Infrastructure Leasing - Financial Services (IL-FS) on Friday to understand how the infrastructure lender and developer proposes to deleverage its balance sheet, a shareholder said.

“RBI deputy governor has called shareholders for a meeting at 3 pm on Friday,” the IL-

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Modi govt announces Rs 70,000 crore cut in borrowing target to ease cash squeeze
Trying to ease concerns over liquidity squeeze, the government on Friday announced a massive Rs 70,000 crore cut in its planned market borrowing programme, and said it would try and meet its needs through small savings mopup.

Economic Affair Secretary Subhash Chandra Garg said the government’s fiscal maths are very much in order and the government

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Infibeam Avenues nosedives 53% ahead of AGM
NEW DELHI: Shares of Infibeam Avenues fell as much as 53 per cent to Rs 92.70 on Friday, continuing its decline for the second straight session.

After the scrip opened nearly 4 per cent down at Rs 190 against the previous close of Rs 197.55, it scaled its fresh 52-week low of Rs 92.70.

More than 41 lakh shares of Infibeam changed hands so far in

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Traders are expected to be on their toes in October if trends in rollover of derivative contracts is anything to go by in the wake of the NBFC stocks-led carnage seen in the Indian markets in recent days. Analysts said traders squared off their bullish futures bets before expiry on the September series on Thursday and carried forward bearish
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Crypto-currency exchange Zebpay shuts shop
Zebpay, one of India's biggest crypto-currency exchanges, on Friday announced shutdown of its business.

The crpto market in India faced trouble after the Reserve Bank of India barred banks and financial institutions from dealing with virtual currencies, including Bitcoins.

“Despite regulatory and banking problems along our journey, we continued to

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Ircon International lists at 13.6% discount to issue price
NEW DELHI: Ircon International made a tepid debut on Friday, as the scrip got listed at Rs 410.30 on BSE, a 13.62 per cent discount to its issue price of Rs 475, thanks to weak market sentiment.

The Rs 467- crore issue, which ran from September 17 to September 19, was subscribed 9.77 times.

At the issue price, the stock commanded a valuation of

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ADIA likely to skip IL FS rights issue, reduce stake
Abu Dhabi Investment Authority is unlikely to participate in the rights issue of the debtladen Infrastructure Leasing - Financial Services (IL-FS), said three people aware of the development. In its annual general meeting on September 29, IL-FS is going to propose capital expansion through rights issue to raise Rs 4,500 crore and chalk
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NBFCs, HFCs maintaining adequate liquidity buffer: Crisil
Non-banking financial companies (NBFCs) and housing finance companies (HFCs) are maintaining adequate liquidity buffer to manage any mismatches in their asset-liability maturity (ALM) profiles, rating agency Crisil said Friday.

The business fundamentals of non-banks including growth potential, asset quality and capitalisation, still look solid,

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Sebi says no advisory issued to MFs against rollover of exposure to Indiabulls, DHFL
Capital market regulator Sebi Friday said it has not issued any advisory to mutual funds against rolling over of their current exposure to Indiabulls Housing Finance and Dewan Housing Finance. "It has been reported in certain sections of the media that Sebi has advised mutual funds not to roll over their current exposure to Indiabulls Housing
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Manas Jaiswal of manasjaiswal.com has a sell call on Bank of Baroda with a target price of Rs 97.0 . The current market price of Bank of Baroda is Rs 104.55. Time period given by the analyst is Intra Day when Bank of Baroda price can reach the defined target. Manas Jaiswal recommended to keep stoploss at Rs 108 Bank of Baroda, incorporated in
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NEW DELHI: Domestic equity benchmarks Sensex and Nifty suffered losses for the third consecutive session on Friday on heavy losses in most sectors, led by auto, metals, pharma and power stocks.

After opening in the green zone, the Sensex traded on the choppy note, swinging between gains and losses, and finally lost steam in late afternoon trade.

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Sensex, Nifty erase opening gains; YES Bank, Vedanta among top drag
NEW DELHI: Equity benchmarks Sensex and Nifty opened higher on first day of October futures and options series, amid positive Asian cues, following gains on Wall Street overnight in light of reports about robust US economic growth.

But, market failed to hold altitude and turned negative soon after bouts of selling emerged in most sectors.

Rupee

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Vikram Pandit, GIC, promoters invest Rs 875 cr in JMreal estate NBFC
Five years after investing into ace deal maker Nimesh Kampani's non-banking finance company (NBFC) for real estate investing, former Citigroup CEO Vikram Pandit, Govt of Singapore Investment Corp (GIC), and promoters of JM Financial Services are putting in about Rs 875 crore in JM FInancial Credit Solution.

The fund infusion into the NBFC of the

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Tech View: Nifty forms bearish candle; big bounce not imminent
NEW DELHI: The Nifty50 tanked for the third day in row on Friday, forming a bearish candle on the daily and weekly charts.

Last Friday’s closing level offered strong resistance to the index for the entire week, while that day’s low offered support.

That said, the bears have strengthened their grip on the market, as the NSE barometer formed

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Rupee appreciates 8 paise to 72.52 against dollar
NEW DELHI: The rupee on Friday opened 8 paise up at 72.52 against the US dollar on account of selling of American currency by banks and exporters.

The local currency on Thursday ended almost flat at 72.60 against the American currency.

The Reserve Bank of India (RBI) on Thursday allowed banks to consider a further 2 per cent of their treasury

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Madhu Kapur sold some shares in Yes Bank
Madhu Kapur, wife of late Yes Bank co-founder Ashok Kapur sold around 0.04% of her stake in the Bank in the open market on September 21.

The shares were sold by Mags Finvest Pvt Ltd through which Madhu Kapur owns 1.70% of shares which in turn is a part of the overall 9.32% shares she controls.

Shagun Kapur Gogia, daughter of Madhu Kapur confirmed

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BSE to launch commodity derivatives trading next week
BSE is set to launch trading in commodity derivatives from October 1 and has decided to waive off the transaction charges for the first year of commodities market operations, the exchange said Friday. The exchange will begin trading in commodity derivatives with non-agriculture commodities like metals initially, followed by agri commodities
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Jerome Powell signals Fed is finished with signalling
Federal Reserve Chairman Jerome Powell has a new message for financial markets: watch the data on jobs, wages and inflation for signals on monetary policy — not the US central bank’s words or forecasts.

That’s a big change for the Fed, which for most of the past decade has done what it could to steer markets on its policy intentions as it nursed a

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Has EPFO escaped IL FS crisis
MUMBAI: IL-FS met this year’s bond interest payment commitments to India’s biggest pension fund, which had purchased triple A-rated papers of the now troubled infrastructure financier as part of the mandate to broaden its investment universe beyond sovereign debt.

The Employees' Provident Fund Organisation (EPFO) received payments from

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