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MFs renew demand for cheque writing facility for debt investors
Now that the field is levelled between mutual funds and banks in terms of taxation, the former has renewed the long-standing demand for issuing instruments like cheques for debt fund investors. If approved, the MF debt funds will compete to attract funds parked in savings accounts of investors. ‘Logical conclusion’ Nilesh Shah, Managing Director, Kotak […]
.jpg "IOB raises ₹1,000 crore through Tier 2 bonds")
IOB raises ₹1,000 crore through Tier 2 bonds
PSU lender Indian Overseas Bank has mobilised ₹1,000 crore through Tier II bonds. The Chennai-headquartered bank came up with Basel III compliant Tier II Series V Bonds issue with a base size of ₹200 crore and a green shoe option of ₹800 crore. The bidding was held on March 23 on the BSE Electronic Bidding Platform, according to a statement. Related Stories Lessons from last […]
Markets fall nearly 1% amid weak trend in global equities; Nifty slips below 17k
Equity benchmark indices Sensex and Nifty buckled under selling pressure for the second straight session to settle nearly 1 per cent lower on Friday as investors pared exposure to the metal, energy and realty stocks amid a bearish trend in Asian and European markets. Besides, a depreciating rupee against the US dollar and fresh foreign […]
Nifty option trading: Morgan Stanley settles case involving RIL arm with SEBI
Foreign broker Morgan Stanley France SA, which allegedly allowed Reliance Strategic Investments (RSI) to conduct manipulative trade in the derivatives market in 2017, has settled its case with market regulator SEBI by paying a fine of ₹25.30 lakh. RSI is a company belonging to the Reliance Industries Group and as per SEBI’s show-cause notice (SCN) it […]
Indian stocks recover morning losses but stay flat in mid-morning trades
Indian stocks markets opened weak on Thursday morning tracking US markets, but recovered towards mid-morning, and have stayed flat with no further triggers. At markets open, the Nifty50 index was down 0.6 percent at 17,053.60 and the Sensex was also down 0.6 per cent at 57847.21 points. Most of the sectoral indices showed losses in […]
Hindustan Aeronautics offer-for-sale opens on Thursday
The government will sell 1.75 per cent of its stake in Hindustan Aeronautics Ltd (HAL) through offer for sale, better known as auction method, on Thursday and Friday. At the floor price, the government expects to get over ₹1,400 crore, which would be ₹2,800 crore in case green-shoe option is exercised. While 10 per cent […]
Gold may top record $2,075/oz in a few weeks on banking turmoil
Gold will likely soar to its record high of $2,075 per ounce as the banking turmoil has resulted in instability in the global financial market, analysts have said. The yellow metal has gained on haven demand and it has resulted in analysts raising its price outlook by $100 following the current bull run. 7.75% monthly […]
IndiaFirst Life Insurance gets SEBI approval to float IPO
IndiaFirst Life Insurance, promoted by Bank of Baroda, has received the Securities and Exchange Board of India’s (SEBI) approval to raise funds through an initial public offering (IPO). The life insurer had in October 2022 sought approval for the public issue, which consists of a fresh issue of equity shares worth up to Rs 500 crore and an offer-for-sale […]
After manic Monday, markets eye Fed meet, Russia’s move
Monday turned out to be a roller coaster ride for the global stock markets. The scare over the default risk of one of Switzerland’s largest banks UBS AG reaching a 11-year high led to a fall in the global markets. But the news later during the day that the probability of Russia halting its war with […]