The finance ministry “requested” the Securities and Exchange Board of India (Sebi) Friday to withdraw the part of its Wednesday circular that changed the rules followed by mutual funds to value perpetual bonds. The capital market regulator hadn’t responded to the suggestion at press time, but is expected to review the rules before they take … Read more
MUMBAI: Public sector companies (PSUs) are seeing their best phase on the bourses in four years as the government’s privatization plans and a rally in global commodity prices have revived investor interest in them. Shares of state-owned companies have outperformed the broader indices so far this year with the total market value of these entities … Read more
NEW DELHI: The government has garnered Rs 19,499 crore through CPSE disinvestment and share buyback so far in 2020-21, as against the Rs 2.10 lakh crore budget target set for the entire fiscal year ending March 31. With COVID-19 related delays impacting big ticket strategic sales and listing of insurance behemoth LIC, the government is … Read more
The total market capitalization of the PSUs where the government holds more than 51% was Rs 16.9 lakh crore as on December 29 compared with Rs 12.5 lakh crore at the end of June 2020. Synopsis Over the past decade, the BSE PSU index contracted by 38% whereas the benchmark Nifty 50 rose by 128%. … Read more
Though there is some bit of sectoral rotation, we will be banking on certain sectors like private banks and insurance, where there was a good bit of growth, says Devang Mehta, Head-Equity Advisory, Centrum India. Excerpts from an interview: How are you mapping the market texture right now and is it time to dig out … Read more
NEW DELHI: Brokerages have mostly retained their bullish view on State Bank of India (SBI) after the PSU lender posted better-than-expected quarterly earnings. SBI reported a 51.9 per cent year-on-year (YoY) growth in net profit for the September quarter at Rs 4,574.16 crore. Analysts in an ETNow poll had projected the profit figure at Rs … Read more
KOLKATA: Life Insurance Corporation of India (LICI), which is preparing for its Initial Public Offer (IPO) despite volatility in the stock market, has already made a profit of Rs 13,000 crore from its equity portfolio till August this year, a top official said on Wednesday. The insurer has collected about Rs 87,300 crore of renewable … Read more
New Delhi: The government has identified 18 strategic sectors for disinvestment purposes, including coal, crude oil, power, steel, telecom, atomic energy and defence, allowing three to four PSUs in each space while gradually moving out of all other sectors. The 18 sectors have been classified into three categories, which are mining and exploration, manufacturing and … Read more