Government appoints new executive directors in Canara Bank, Union Bank, Bank of Maharashtra, Indian Bank and PNB
The government has appointed Sunil Kumar Chugh and Amresh Prasad as EDs in Canara Bank and Union Bank of India, respectively, along with other senior appointments in Bank of Maharashtra, Indian Bank, and PNB for three-year tenures.
How will revised BSDA rules impact demat account holders?
The Securities and Exchange Board of India (Sebi) has proposed excluding delisted securities and zero-coupon, zero-principal bonds from portfolio value calculations for basic services demat accounts. This move aims to ensure fairness and prevent artificial inflation of holdings, as these securities lack realisable market value or investment potential.
Aviom India creditors to go for Swiss challenge
In an effort to maximize returns for its lenders, Aviom India Housing Finance is launching a Swiss challenge auction to attract competitive bids. The creditors’ committee has dismissed the revival proposal put forth by the promoters. PwC is currently developing the auction guidelines, with an e-auction date set to be announced shortly.
India spends big with credit cards in ecommerce, fest tango
October witnessed a remarkable 19.6% rise in credit card expenditures in India, thanks to the surge in online shopping activities and festive buying sprees. Conversely, the influx of new credit card sign-ups has significantly tapered off.
HAL skids after Tejas crash; analysts expect limited hit
Hindustan Aeronautics shares extended losses Monday following a Tejas aircraft accident during a Dubai air show. Analysts anticipate limited financial impact on the company’s orderbook and execution, noting fighter jet crashes are not uncommon. While near-term pressure and slowed export negotiations are possible, the incident occurred at an air show, not during a mission.
Gold’s shine is intact despite choppy prices, says HSBC. Here’s why
Despite elevated prices, central banks are unlikely to significantly scale back purchases, HSBC said. The report notes that the primary motivations include diversification and long-term hedging against geopolitical, macroeconomic, and policy risks
RBI intervention hoists rupee, but bearish undercurrent persists
The Reserve Bank of India likely intervened before the local spot market opened on Monday, and intermittently thereafter, helping the currency hold above its all-time low, traders said
35 stocks to buy from 11 sectors: All high conviction picks from Axis Securities put together after Q2
Axis Securities remains constructive on real estate, backed by rising pre-sales, stronger balance sheets and premium housing momentum. Its top picks include Prestige Estates Projects and Signature Global, both beneficiaries of sustained demand recovery and aggressive expansion plans.
Sebi introduces threshold-based framework to determine materiality of related party transactions
Apart from the materiality threshold, Sebi has relaxed the minimum information required to be furnished to the audit committee and shareholders for RPT approvals
The irony of predicting markets: Nithin Kamath flags an expensive mistake traders can’t do without
Zerodha co-founder Nithin Kamath highlights that traders often overestimate their ability to predict markets, emphasising the gap between knowledge and action. Drawing from a podcast discussion with veteran US derivatives trader Tom Sosnoff, he notes that experience does not guarantee forecasting ability, and trading based on conviction rather than probability can lead to losses.Zerodha co-founder […]