EPFO looks to increase equity investments
The retirement fund body will soon approach the finance ministry to seek its clearance for investing the proceeds from ETFs in any permissible asset class to maximise returns. A proposal in this regard was approved by EPFO’s central board of trustees in the last week of March, as per the minutes of the meeting where […]
Pension regulator wants capital cover for assured return plans
Unfunded schemes such as the old pension scheme are not sustainable, something that is being witnessed the world over, Pension Fund Regulatory and Development Authority (PFRDA) chairman Deepak Mohanty told ET in an interview. Mohanty is a member of the committee looking into pension systems for government employees, set up after the clamour from multiple […]
Hand holding states, government sellers to integrate with ONDC: DPIIT Joint Secretary
“This will unlock value in the huge B2B (business-to-business) market by increasing access and discoverability of various businesses across the network. “As we look forward to the integration of credit in the ONDC, the business can hugely benefit from the open network ecosystem by being a part of the ONDC,” he said here at a […]
Ahead of Market: 10 things that will decide D-Street action on Tuesday
On Monday, Indian equity indices ended higher, dominated by bulls for the second straight session. Index heavyweights Reliance Industries, ICICI Bank, and M&M stocks performed well amid a positive trend in global markets.
World’s biggest crypto exchange Binance, founder charged by US regulator
Binance and its CEO Changpeng Zhao have been accused of violating US securities rules by the US Securities and Exchange Commission (SEC). The charges include operating unregistered exchanges, selling unregistered securities and misleading investors. Zhao denied the charges on Twitter, saying his team would review the allegations.
No risk of recession! India’s debt-to-GDP ratio lowest among peers. Where others stand
As per a report — Recession Probability Worldwide 2023 — India is the safest with 0% chance of recession
Surveillance Impact: Penny stocks slump on BSE as bourses beef up rules to curb volatility
SEBI and stock exchanges have included micro-small cap firms in their enhanced surveillance framework, prompting a large number of market stocks to suffer steep losses. The companies with a market capitalisation of less than Rs5 billion will be put under surveillance in a two-stage process.
Morgan Stanley retains ‘equal weight’ on India, reduces China ‘overweight’
Morgan Stanley has retained its stance on Indian equity markets given relatively strong domestic demand, but has cut its active position on China overweight as its initial recovery momentum waned in April and May. Morgan Stanley said the US dollar’s strength is delaying the timeline for overall earnings recovery for MSCI China.
Sidbi’s India Microfinance Equity Fund doesn’t find many takers
Several NBFC-MFIs found the clauses attached for taking the funding support from Sidbi quite stringent. They believe the clauses may create roadblocks in raising fresh equity from new investors. One of the clauses says that NBFC-MFIs cannot take fresh equity capital at terms more favorable than those offered to Sidbi, unless such terms are approved […]
Q4 sectoral review: Financials, autos put up a strong show, while IT, cement players disappoint
Jefferies’ coverage universe of domestic companies reported a 30% YoY growth in fourth-quarter earnings, led by a strong financial performance. Meanwhile, revenue growth remained at mid-teen levels during the quarter. The brokerage is bullish on cyclicals, citing over 40% growth in property sales and cap-good order flow. Following the quarter, Jefferies raised FY24 estimates for […]