Ex-RBI deputy governor Kanungo may join IIFL board
Former RBI Deputy Governor BP Kanungo is set to join IIFL Finance as an independent director, succeeding AK Purwar. This appointment follows a period where the RBI had banned IIFL Finance from disbursing gold loans due to regulatory non-compliance, a ban that was later lifted. Kanungo’s expertise is expected to bolster IIFL’s risk management and […]
Asian stocks climb, oil jumps on Israel-Iran conflict
Asian stock markets rebounded slightly after Friday’s losses, driven by escalating conflict between Israel and Iran that caused oil prices to surge. Investors are concerned about potential oil supply disruptions and the impact on global inflation, especially with upcoming interest rate decisions from major central banks.
MFs accumulate capital goods, rate-cut beneficiaries in May
In May, despite reduced equity mutual fund inflows due to profit booking, fund managers adjusted portfolios, favoring large-cap companies. They capitalized on corrections in the capital goods sector, acquiring stocks like GE Vernova and BHEL, anticipating power sector growth.
West Asia conflict, oil spike put investors on edge
Israel and Iran have escalated their conflict with renewed attacks, prompting concerns about wider economic repercussions. Prime Minister Netanyahu vowed to intensify Israeli strikes, while Iran halted nuclear talks. The escalating tensions have already impacted financial markets, causing a surge in oil prices and a flight to safe-haven assets like gold and the dollar.
RBI may soon step in to absorb excess liquidity
The Reserve Bank of India is anticipated to introduce variable rate reverse repo (VRRR) auctions to manage surplus liquidity, aiming to keep short-term money market rates within the liquidity adjustment facility (LAF) corridor.
NFRA slaps notices on IndusInd Bank auditors
While other details, if any, in the NFRA communique are not known, the sources confirmed said the government agency would scan the dossier of working papers and evidence that support the audit exercise and corroborate the bank’s claims on its financials. “First, the audit file will tell the scope of work – i.e., whether the […]
Sebi board to discuss changes in ESOP rules for startup founders and PSU delisting
Sebi is considering allowing startup founders to retain ESOPs post-IPO, addressing concerns about dilution and aligning founder incentives with stakeholders. The regulator is also mulling a one-year cooling-off period for ESOP grants before IPOs to prevent misuse. Additionally, Sebi may permit voluntary delisting of PSUs with over 90% government stake, acknowledging their thin public float […]
Where is Nifty heading this week amid rising tensions and market uncertainty?
The Nifty is facing resistance around 25,200-25,300 amid geopolitical concerns, leading to a cautious short-term outlook with support near 24,500-24,000. Analysts suggest a tactical approach, avoiding aggressive bets until clearer signals emerge. Bank Nifty reversed after hitting a high, and traders should monitor key levels for potential shorting opportunities.