SBI chief wants pricing parity with HFCs on home loans

Mumbai: State Bank of India (SBI) chairman Arundhati Bhattacharya on Saturday called for ending the “regulatory arbitrage” enjoyed by pure-play home financiers, which can lend below their prime lending rates whereas banks cannot. “If you ask me, there shouldn’t be any regulatory arbitrage. Regulatory arbitrage always makes for an un-level playing field. And if you have a particular area that ... Read More »

Rupee falls against dollar for third straight week

New Delhi: The Indian rupee continued to fall against the American currency for the third straight week, slipped by another 44 paise to close at 65.27 per dollar on persistent month-end dollar demand from importers and some banks. Meanwhile, Foreign portfolio investors pumped in net USD 128.48 million during the first four days of the week, as per the SEBI’s ... Read More »

Market snaps four-week gaining spree, tanks nearly 3%

Mumbai: Lingering uncertainty pulled down the equities, snapping the four-week gaining spree to plunge nearly 3 percent as the benchmark Sensex fell below the psychological 27,000 and the broader Nifty finishing below the key 8,100 level. Bearishness swamped the market momentum as it tagged continuous selling for the whole of five-trading sessions of the week, bridled by US rate hike ... Read More »

Rakesh Jhunjhunwala buys 1.05% in Jet Airways; shares up 11%

New Delhi: Ace investor Rakesh Jhunjhunwala on Friday picked up 1.05 percent stake inJet Airways for Rs 50.52 crore through an open market transaction. According to the bulk deals data available with NSE, Jhunjhunwala’s RARE Enterprises acquired 11,95,000 shares or 1.05 percent stake in the private airline. The shares were bought at an average price of Rs 422.76, valuing the ... Read More »

Sensex down for 5th day, slips 181 points to trade near 1-month low

Mumbai: The domestic stock market extended loses to a fifth straight session on Friday as the benchmark BSE Sensex slipped by 181 points to fall to a one-month low of 26,656.83 bogged down by weaker-than-expected quarterly numbers of heavyweights, ITC and L&T. Mumbai: The domestic stock market extended loses to a fifth straight session on Friday as the benchmark BSE ... Read More »

Corporate Earnings: Top gainers and losers in Q2 results announced today

New Delhi: The major gainers and losers announcing corporate earnings on Friday: L&T Q2 net up 16% at Rs 996 crore Larsen & Toubro (L&T) Friday reported a 15.56 per cent jump in consolidated net profit at Rs 995.90 crore for the September quarter even as it said the investment climate remained “subdued” during the period. Larsen & Toubro recorded ... Read More »

Kotak Bank Q2 net profit at Rs 942 crore

New Delhi,: Private player Kotak Mahindra Bank today reported consolidated net profit of Rs 942 crore for the second quarter ended September 30, 2015-16. The Group has posted a profit after tax of Rs 718 crore in the July-September quarter of the 2014-15 fiscal. “The results for the quarter and half year ended September 30, 2015 include operations of erstwhile ... Read More »

Sensex trades flat in morning session

Mumbai: A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), on Friday was trading flat at 13.86 points or 0.05 percent up during the morning session. The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 4.25 points or 0.05 percent up at 8,116 points. The Sensex of the S&P Bombay Stock Exchange (BSE), which ... Read More »

RBI allows NRIs to subscribe to National Pension System

Mumbai: To enable Indians living abroad to access old age income security, Reserve Bank Thursday allowed non-resident Indians (NRIs) to subscribe to the National Pension System (NPS). “It has now been decided, in consultation with the Government, to enable National Pension System (NPS) as an investment option for NRIs under FEMA, 1999,” RBI said in a notification here today. NRIs ... Read More »

InterGlobe Aviation IPO flies high, over-subscribed 6.15 times

Mumbai: The Rs 3,018-crore public offer of IndiGo’s parent InterGlobe Aviation, the biggest IPO in nearly three years, elicited robust response as the issue got over- subscribed 6.15 times on the last day of bidding Thursday. The IPO generated demand worth over Rs 18,000 crore, as it received bids for 18,53,10,405 shares against the total issue size of 3,01,22,088 shares, ... Read More »