Mutual funds folio count surges by 18 lakh in June quarter
NEW DELHI: The mutual fund industry has added 18 lakh investor accounts in three months ended June 30, taking the total tally to 9.15 crore, amid volatile market conditions. A big chunk of this growth in folio generation is driven by digital platforms – especially in times of the lockdown, said Harsh Jain, co-founder of […]
Investor wealth jumps Rs 7.71 lakh crore as markets recover
NEW DELHI: Investor wealth on Tuesday jumped Rs 7,71,377 crore as markets bounced back after two days of fall, tracking a broad-based rally in global equities. The Sensex gained 2,476.26 points to close at 30,067.21 after resuming trading on Tuesday. Following rise in equities, the market capitalisation of the BSE-listed firms zoomed Rs 7,71,377.02 crore […]
Sensex plummets 1,375 points; Nifty ends below 8,300
NEW DELHI: Equity benchmark Sensex plummeted over 1,375 points on Monday, tracking heavy losses in banking and auto stocks, amid an unsettling spike in Covid-19 cases. After plunging over 1,500 points during the day, the 30-share BSE barometer ended 1,375.27 points or 4.61 per cent lower at 28,440.32. Similarly, the NSE Nifty fell 379.15 points, […]
Indian Rupee settles 70 paise lower at 75.59 against US dollar
NEW DELHI: The rupee settled 70 paise lower at 75.59 (provisional) against the US dollar on Monday amid rise in coronavirus cases in the country and weak domestic equities. Forex traders said heavy selling in domestic equities dragged the local unit amid mounting fears of a coronavirus-led economic slowdown. Moreover, strengthening of the American currency […]
Investor wealth tumbles Rs 9.74 trillion in two days as markets plunge
NEW DELHI:Investor wealth dropped by Rs 9.74 lakh crore in two days of market fall this week triggered by weak global trends and fears of coronavirus hitting the overall economy. In two days, investors have lost Rs 9,74,176.71 crore wealth. At close of trade on Tuesday, the market capitalisation of BSE-listed companies was at Rs […]
Six of top-10 Indian firms add Rs 62,773 crore in market capitalisation; HUL, RIL top the list
BEIJING, NEW DELHI : Six of the top-10 most valued Indian firms together added Rs 62,772.95 crore in market valuation last week, with HUL and RIL emerging as the biggest gainers. BEIJING. NEW DELHI: Among the top 10, Reliance Industries, TCS, HUL, Infosys, Kotak Mahindra Bank and ITC witnessed gains in their market capitalisation (m-cap) […]
Investors lose Rs 2.55 trillion as stocks crash over economic slowdown
NEW DELHI: Investor wealth dropped Rs 2.55 trillion on Tuesday following a sharp plunge in the equity market as investor sentiment went for a toss amid concerns related to economic crisis and trade issues. The BSE benchmark Sensex tumbled 769.88 points, or 2.06 per cent, to close at 36,562.91. Led by the sharp drop in […]
IIFL Finance to raise Rs 1,000 cr through bond issuance for business growth
NEW DELHI: IIFL Finance on Tuesday will come up with public issue of bonds to raise up to Rs 1,000 crore to fund business growth of the company. The non-convertible debentures (NCDs) will offer up to 10.5 per cent yield. The UK-based CDC Group backed IIFL Finance will issue secured and unsecured redeemable NCDs, aggregating […]
Investor wealth plummets over Rs 4 lakh crore in 3 days of market fall
NEW DELHI: Investor wealth plunged over Rs 4 trillion in three days of market fall amid weak global trends and muted domestic sentiments. Stock markets extended their losses for a third straight day with cumulative losses of 3.05 per cent or 1,184.15 points since July 18. The 30-share index on Monday cracked 305.88 points or […]
Six of top 10 stocks lose over Rs 62,000 crore in market capitalisation
NEW DELHI: Six of the 10 most valued Indian companies suffered a combined erosion of Rs 62,147.7 crore in market valuation last week, with RIL and TCS taking the biggest knocks amid a weak broader market. HDFC Bank, ITC, SBI and ICICI Bank were the other laggards in the top-10 pack, while HDFC, Hindustan Unilever […]
Mukesh Ambani caps his annual salary at Rs 15 corer for eleventh year in a row
NEW DELHI: Richest Indian Mukesh Ambani has kept his annual salary from his flagship firm Reliance Industries Limited (RIL) capped at Rs 15 crore for the eleventh year on the trot. Ambani has kept salary, perquisites, allowances and commission together at Rs 15 crore since 2008-09, forgoing over Rs 24 crore per annum. This is […]
Sensex posts 2nd-biggest fall this year; investors lose Rs 3.79 lakh crore in 2 days
NEW DELHI: The BSE Sensex crashed 560 points while the broader NSE Nifty closed much below the key 11,500-mark Friday after the government thwarted hopes of tax relief for FPIs. Lacklustre earnings, slowing consumption and already pricey valuations further kept a lid on buying sentiment, traders said. Led by a sell-off in auto and banking […]
Six of top-10 firms lose Rs 53,459 crore in market capital; RIL takes steepest hit
NEW DELHI: Six of the 10 most valued domestic companies suffered a combined erosion of Rs 53,458.8 crore in market valuation last week, with Reliance Industries Ltd (RIL) taking the steepest hit. Tata Consultancy Services (TCS), HDFC Bank, HUL, HDFC and ITC were the other blue-chips that witnessed a drop in their market capitalisation (m-cap) […]
Seven of top 10 firms add Rs 1.42 trillion in m-cap; RIL best performer
NEW DELHI: Seven of the 10 most valued Indian firms together added Rs 1.42 trillion in market valuation last week, propelled by a broad rally in the equity markets amid the ruling BJP’s emphatic victory in the general elections. The 30-share BSE Sensex touched its lifetime (intra-day) high of 40,124.96 on Thursday, the day election […]
RCom tanks over 48%; other group shares crash too
NEW DELHI: Shares of Reliance Communications (RCom) fell sharply on Monday, tumbling over 48 per cent, after the company decided to opt for insolvency proceedings following its failure to sell assets for paying back its lenders. The shares of Reliance Communications, after a weak opening, further crashed 48.27 per cent to its record low of […]
SBI raises $1.25 billion from overseas market
NEW DELHI: The India’s largest lender, State Bank of India (SBI), on Saturday said it has raised $1.25 billion through bonds from overseas market. The bank is glad to announce that the issue received an overwhelming response and saw strong interest from investors across geographies with a final order book in excess of $3.2 billion […]