May 01

Sebi to hit cinema screens to spread investor awareness

New Delhi: To spread investor awareness and financial education, markets regulator Sebi plans to explore cinema advertising and digital platforms for its advertising campaigns, including on ponzi menace and dabba trading. Besides, the regulator also plans to undertake financial market education and training programmes for specific target groups such as teachers and police officials. As

Facebook profits triple in 2016 first quarter, stocks surge

Washington: Riding on advertisement growth, social media giant Facebook on Wednesday reported a stellar $1.5 billion first-quarter profit or 52 cents per share in 2016 — nearly triple of last year’s profits of $512 million in the same period. Better than expected results led to Facebook shares jump more than 9 percent in after-hours trading.

‘India’s urbanisation likely to be 60 pc in 3 decades’

New Delhi: India’s urbanisation may double to over 60 per cent in 30 years assuming that economic growth remains at 7-9 per cent level, NITI Aayog Vice-Chairman Arvind Panagariya said on Wednesday. “Generally, the level of urbanisation is over 60 per cent in developed economies. It will take time for India to achieve that level.

RBI to consult Sebi before finalising rules

Mumbai: The Reserve Bank will soon come out with a concept paper on peer-to-peer (P2P) lending, and will hold consultations with capital markets regulator Sebi before finalising the rules, Deputy Governor R Gandhi said on Monday. “A concept note on P2P lending will be put up on the RBI website for public comments shortly,” Gandhi

FPIs stay bullish on India, pump in $2 bn in April

New Delhi: Building on their buying momentum,foreign investors have poured close to $2 billion into capital markets so far in April, driven by hopes of a good monsoon and positive macroeconomic data. It comes following a staggering inflow of Rs 19,967 crore in the capital markets both equities and debt last month. FPIs turned net

‘FY’17 road awarding target may be achieved’

New Delhi: The government has increased the target for awarding projects by 2.5 times to 25,000 km for the ongoing fiscal, though difficult, there are chances that these targets might be achieved, says a Citigroup report. According to the global financial services major, the road sector in India is already seeing very substantial improvement in

Cairn India cuts capex by $100mn

New Delhi: Battered by a slump in oil prices, Cairn India has slashed its capital expenditure for 2016-17 by a third to $100 million. Cairn had originally planned a capex of $1.2 billion for 2015-16, but later revised it to $500 million as oil prices started to fall. In third quarter, the firm further trimmed

SAT raps Sebi for ‘blind’ support to adjudicating officers

Mumbai: Sebi has got a rap on the knuckles from Securities Appellate Tribunal, which has termed the regulator’s conduct as “disgraceful” in “blindly supporting” certain penalty orders passed by its adjudicating officers. Remanding the case back to the market regulator for “fresh decision on merits and in accordance with law”, SAT said it hopes the

After marked turnaround, SpiceJet talks growth

New Delhi: India’s second largest budget carrier SpiceJet will go for a major fleet expansion and increase existing frequencies, after the dramatic turn around from the brink of closure in just five quarters, chairman Ajay Singh has said. The airline that saw its market share jump from 9.4 per cent in January last year, just

BSE to auction investment limits for govt bonds

New Delhi: Leading bourse BSE will auction investment limits for overseas investors for the purchase of government debt securities worth Rs 4,818 crore. The auction will be conducted on BSE’s e-bidxchange platform, from 3.30 pm to 5.30 pm, after the close of market hours. The debt auction quota gives overseas investors the right to invest

‘CPI inflation to stay benign; RBI to cut 25 bps’

New Delhi: Inflationary pressure is likely to remain in check due to low, sub-potential growth and CPI forecast should average 5 per cent in the fiscal, in line with the Reserve Bank’s target, says a report. Global financial services major Bank of America Merrill Lynch (BofA-ML) revised its fiscal 2016-17 CPI inflation forecast to 5.7

Market breaks 6-day winning run,logs second weekly gain

Mumbai: The Sensex on Friday recorded its first drop in seven sessions, edging down by over 42 points, and the Nifty broke below 7,900 following profit-booking amid mixed global leads, but both indices scored gains for the second straight week. For the week, the BSE Sensex rose 211.39 points, or 0.82 per cent, and the

Assocham to empower enterprises in North India

Chandigarh: The industry body, The Associated Chambers of Commerce and Industry (Assocham), which has set up the regional office for north India in Chandigarh, will work for the empowerment of enterprises. Dalip Sharma, Director, Assocham, said, “With our regional office in Chandigarh, Assocham will cater to industry and commerce based in Punjab, Himachal Pradesh, Haryana

Sebi provides clarity for small companies

New Delhi: Promoters of small companies who get written consent from at least 90 per cent of the public shareholders to delist shares will be considered to have complied with the delisting norms, according to Sebi. The clarification has been provided in the latest set of Frequently Asked Questions (FAQs) on Sebi (Delisting of Equity

Govt to set up help desk in energy sector: Goyal

New York: Eyeing an investment of $1 trillion in the energy sector, India will set up help desks across the country as well as in the US, the UK, Australia and Japan to handhold investors through laws and regulations. Interacting with reporters here yesterday, Minister for Power, Coal and New and Renewable Energy Piyush Goyal,

HDFC Bank Q4 net grows 20 pc to `3,374 crore on NII growth

Mumbai: Country’s second largest private lender HDFC Bank on Friday reported a 20.2 per cent jump in its March quarter net at Rs 3,374.2 crore, helped by a healthy rise in core net interest income (NII). The city-headquartered bank, which registered around 30 per cent profit growth for over a decade till 2013-14, posted a

Indo-US ties can get a leg up if India grows at 9-10 pc: Kant

New Delhi: Niti Aayog CEO Amitabh Kant on Friday highlighted the need for India to grow at 9-10 per cent every year for at least three decades, which he said can be instrumental in taking Indo-US ties to the next level. “It is possible to provide greater momentum, greater fillip to Indo-US relationship if India

Govt invites bids from merchant bankers for stake sale in NMDC

New Delhi: Government on Friday invited bids from merchant bankers interested in assisting it in the sale of 10 per cent stake in blue-chip NMDC which could fetch about Rs 3,900 crore to the exchequer. It will select four merchant bankers for managing the stake sale in India’s largest iron ore producer NMDC. As per

India set to become $10 trillion economy: Kant

New Delhi: India will become $10 trillion economy and achieve growth rate of 10 per cent by 2032, Niti Aayog Chief Executive Officer Amitabh Kant said on Thursday. The country’s growth rate is 7.6 per cent in 2015-16 and its economy is $1.7 trillion. In a presentation made during Civil Services Day function attended by

‘ZERCH TO BE $50 MN BIZ IN THREE YEARS IN INDIA’

New Delhi: Mobile value-added services firm Mahindra Comviva aims to garner revenues of about $40-50 million in the next three years from ‘Zerch’ as it expands the hyperlocal deals discovery platform to more cities across India. The company forayed into the direct to consumer space with Zerch in December. In the five months, the company