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Equity fund inflows stay steady The contributions via systematic investment plans (SIPs) topped the Rs 17,000 crore level for the first time in November. The SIP book came in at Rs 17,073 crore against Rs 16,928 crore in October. The steady flows into equity mutual funds came amid strong domestic equity markets. During November, BSE…
Nifty hits 21,000; gains 2% for the week RBI also raised its GDP growth forecast for FY24 to 7.0 percent from 6.5 percent, which ushered further optimism among investors.Market breadth also remained in favour of gainers as over two stocks rose for each one that fell. The benchmark Nifty was back to its record-breaking ways…
RBI MPC Meeting Highlights The benchmark lending rate or the repo rate will remain unchanged at 6.5 percent, Reserve Bank of India (RBI) Governor Shaktikanta Das announced on December 8, following the conclusion of the three-day meeting of the central bank’s Monetary Policy Committee (MPC). RBI has paused the benchmark lending rates since February The…
SoftBank has been offloading its stake in Indian new age companies in recent months. The investment firm has also sold a substantial stake in Paytm. The shares will be sold at a price of Rs 120.50 per share. SoftBank, in another tranche, is likely to sell Zomato shares worth $135 million via a block deal, sources told…
RBI follow up on November action? There is a view that the rise in quicker and possibly riskier disbursement of personal loans might prompt more action by the RBI As on October 20, personal loan growth stood at 30 percent, with credit card outstanding and other personal loans up 28 percent and 25 percent, respectively….
On Budget FM Sitharaman Speaking at the CII’s event, Sitharaman said, “I don’t want to be a spoilsport, but the 1st February Budget is just a vote on account; a budget to meet expenditure till the next government comes to power. Finance Minister Nirmala Sitharaman at CII event Finance Minister Nirmala Sitharaman on December 7…
Paytm crashes 20% Paytm’s decision to scale down its low-ticket postpaid lending business comes after the RBI tightened the norms for unsecured consumer lending. Jefferies slashed its price target for Paytm while Goldman Sachs downgraded the stock. Shares of Paytm nosedived 20 percent in opening trade on December 7 after the company announced plans to…
Bull run on D-St may unleash an IPO flood , Sources also told that the coming two weeks are likely to see a flood of public issues with a target to raise Rs 10,000-12,000 crore. More than 15 IPOs to hit Dalal Street before Union Budget. The primary market seems to be keeping Dalal Street…
Parliament nod to spend Rs 14,524 crore As per the first batch of supplementary demands for grants for 2023-24, tabled in the lower house of Parliament on December 6, the Union government is looking to spend an additional Rs 1.29 lakh crore this year On a net basis, the Centre is seeking permission to spend…
BSE, NSE GIFT City units to be merged by Jan 2024; direct listing by April On October 30, the Ministry of Corporate Affairs (MCA) released a notification permitting certain classes of public companies to directly list on foreign stock exchanges The two operational international exchanges at GIFT City — BSE’s India INX and NSE’s International…
