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Tata Steel rallies 3% on Thyssenkrupp tie-up
Tata Steel jumped nearly 3 per cent as the company sealed a business tie-up with Thyssenkrupp.

On Saturday, the steelmaker and Thyssenkrupp AG signed definitive agreements to combine their European steel businesses in a 50:50 joint venture (JV) in a new company.

The scrip traded 2.87 per cent up at Rs 584.15 at around 9.23 am on Monday. The BSE

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Bank stress test results signal more flexible new-look US Fed
By Michelle Price and Imani MoiseWASHINGTON: This year's Federal Reserve stress test results suggested a more flexible approach, a further sign the regulator's new leadership is responding positively to a Wall Street push for pragmatic bank supervision, analysts and lawyers said.

Banks that took a one-off capital hit due to the 2017 U.S. tax

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MUMBAI: : Benchmark indices snapped a two-day losing streak on Friday as European leaders reached a deal on immigration while oil prices fell amid concerns over supply disruption and continued friction between the US and Iran. The Sensex ended up 385.84 points, or 1.1%, at 3,5423.48 and the Nifty ended 125.20 points, or 1.2%, up at 10,714.30. The
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'IDBI F O play may deliver 13%, but hedge risks well'
By Rathina Sabapathy

MUMBAI: Those keen on punting on IDBI Bank could do so through a simple options strategy called ‘bull call spread’ to reduce risk rather than buying plain vanilla futures or a naked call option on the counter, derivatives analysts said.

Huge buying interest was witnessed in IDBI derivatives on Friday after insurance regulator

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Top 9 factors that are likely to guide stock market in week ahead
NEW DELHI: Spooked by trade war worries, a sinking rupee and rise in crude oil prices, Dalal Street investors joined their global peers in a sell-off exercise. Although, the bulls made a comeback on Friday, the week belonged to the bears. Equity benchmarks Sensex shed 0.74 per cent during the week to end at 35,423 while NSE's Nifty bled 1 per cent
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LIC-IDBI Bank deal: Money alone won-t do; add vision strategy to the mix
MUMBAI/KOLKATA: Beleaguered IDBI Bank getting ₹9,000 crore in equity investment from Life Insurance Corp of India may be a lifeline for the lender, but to regain its past glory it requires a new vision and strategy from B Sriram who has taken over as its new chief executive.

For a bank that is stuck with more than a quarter of loans as bad loans

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Who told you heavyweight stocks protect wealth in a falling market
The bulls and bears have been engaged in a tug of war on Dalal Street for most part of this year, testing investors' patience. While most midcap and smallcap stocks have tumbled up to double digits, many of the heavyweights from top industries too have failed to hold up, giving mixed returns.

Data showed that five top stocks of India Inc from 10

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In June this year, a relatively minor transaction emitted an important signal from the inscrutable world of Mumbai’s high finance. Investors, led by Hong Kong-based Ward Ferry and US-headquartered General Atlantic, paid $110 million to acquire a 5.1% equity stake in IIFL Wealth Management, valuing the unit of the Nirmal Jainpromoted IIFL Holdings a
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RBI said to be open to the idea of LIC taking over IDBI Bank
NEW DELHI: The Reserve Bank of India (RBI) is open to the idea of Life Insurance Corporation of India (LIC) taking over staterun IDBI Bank, said a senior official aware of informal discussions between the regulator and the government on the matter.

The official said the central bank has indicated its willingness to clear any such deal provided the

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Market volatility on rise in Asia, India too under acute pressure
Volatility in the Asian markets has risen considerably and accordingly there is a need for tighter monetary as well as fiscal policies, says a DBS report.

According to the global financial services major, trade friction and geopolitical tension have pushed up emerging market volatility, with India and Indonesia under the most acute pressure in

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The Week That Was: IDBI Bank, PNB Housing and Titan created all the buzz
NEW DELHI: The week gone by was marked by heightened volatility on account of escalation in US-China trade row, elevated crude oil prices, tumbling rupee and the expiry of June futures - options contracts.

The BSE Sensex dropped 266 points, or 0.75 per cent, for the week to close at 35,423. The NSE barometer Nifty50 declined 108 points, or

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BoB offloads Rs 410-crore Binani Cement loans to Edelweiss
MUMABAI: Bank of Baroda has sold its Rs 410 crore loans in Binani Cement to Edelweiss Asset Reconstruction Company in a reflection of the lenders’ frustration in resolving a bankruptcy that’s mired in litigation, said two people familiar with the matter.

The sale of the loan involves a structured transaction where the lender would receive a

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Market volatility on rise in Asia, India too under acute pressure
Volatility in the Asian markets has risen considerably and accordingly there is a need for tighter monetary as well as fiscal policies, says a DBS report.

According to the global financial services major, trade friction and geopolitical tension have pushed up emerging market volatility, with India and Indonesia under the most acute pressure in

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In our previous weekly note, we had expressed fear about the possibility of some technical damage if Nifty is not able to breach the 10,820-10,850 zone on the upside. After struggling throughout the week, the index gave up to this resistance area.

Even though Nifty ended on a strong note in the last trading day, it has still ended the week with a

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GC Chaturvedi: A patient listener, but his own man in making decisions
Girish Chandra Chaturvedi, the new non-executive chairman of ICICI Bank, brings with him rich experience in general administration and the financial sector, with sensitive assignments including Joint Secretary, banking and insurance, and additional secretary for financial services — positions that placed him on the boards of LIC and state-run s
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Lux promoters value two group cos at Rs 861 crore for merger
Kolkata: The promoters of hoisery major Lux group is in the process of merging two group companies with the listed entity Lux Industries Ltd in a non-cash deal at a combined valuation of Rs 861 crore.

"The combined valuation of the two group companies is Rs 861 crore for the merger with the Lux Industries. This is a non-cash transaction. It will

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After a stellar run, will NBFC stocks still continue the rally
By DK AggarwalNon-banking financial companies (NBFCs) have undergone a significant transformation over the past few years. The sector has managed to witness robust credit growth in past few years and has been clear outperformers in last three years on the back of the fading effects of RERA, higher growth in loan books and improvement in spreads
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TCS says Tata Sons will participate in buyback
MUMBAI: Tata Consultancy Services said its parent Tata Sons would be participating in the Rs 16,000 crore buyback the company announced earlier this month.

TCS had said it would buyback over 7.6 crore shares at a price of Rs 2,100 each. This will be the Mumbai-headquartered company’s second buyback in as many years.

“In terms of the Sebi Buyback

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7 of top 10 firms add Rs 47,527 crore in market cap
Seven of the top-10 most valued companies together added Rs 47,527.32 crore in market valuation last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest gainers.

While Reliance Industries Ltd (RIL), Maruti Suzuki India and SBI suffered losses in their market capitalisation (m-cap) for the week ended Friday,

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Cox Kings may list education arm
NEW DELHI: Holiday and education travel group Cox - Kings is looking at unlocking value of its education business, PGL, either through a stake sale or an initial public offering in the UK, people familiar with the matter told ET.

UK-based investment banking firm Baird is advising Cox - Kings on the process and has pegged the valuation of

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India's insurance coverage regulator on Friday provided an unmatched consent to the Life Insurance Corporation of India's proposition to take control of IDBI Bank and rescue it from a debilitating crisis caused by enormous increase in bad loans. The board of Insurance Regulatory and Development Authority of India (Irdai), which fulfilled in Hyderabad on Friday, okayed LIC's i
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FPI outflow hits 10-year high at Rs 48,000 crore in H1 2018
Overseas investors have pulled out nearly Rs 48,000 crore from Indian capital markets in the first six months of 2018, making it the steepest outflow in a decade, following high crude oil prices and trade war worries.

They withdrew a net sum of Rs 41,433 crore from the debt markets, besides, a net amount of Rs 6,430 crore from equities during

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Temasek Holdings unit invests Rs 1,000 crore in Adani Ports
A unit of Singaporean investment firm Temasek Holdings has acquired shares worth Rs 1,000 crore in Adani Ports and Special Economic Zone, block deal data on the Bombay Stock Exchange showed.

The data showed that the unit, Camas Investments, bought 2.7 million shares in the Adani group company at Rs 369.65 apiece. The shares represent 1.31per cent

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TCS says Tata Sons will participate in share buyback
TCS says Tata Sons will participate in share buyback - The TheIndianSubcontinent

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RBI, FinMin must step in to curb rupee depreciation: Assocham
The Reserve Bank of India and the finance ministry should work together to ensure that the rupee does not depreciate further from the current levels, Assocham said today.

The rupee recovered from its record low by rising 18 paise to 68.61 against the US dollar in early trade on Friday due to fresh selling of the American currency by banks and

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RBI to punish auditors for lapses in bank audit
KOLKATA: Reserve Bank of India said it would punish statutory auditors for lapses in conducting banks’ statutory audit and may even bar them from taking fresh audit assignment depending on the magnitude of it.

The regulator said the quantum of punishment will depend on the magnitude of divergence from the prescribed norms and the auditors would be

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PNB sells entire stake in ICRA for Rs 109 crore
Punjab National Bank has sold its entire stake in ratings firm Icra Ltd for a consideration of Rs 109 crore.

"The bank has sold its entire stake of 3,30,000 shares of Icra Ltd through block deal at exchange platform for gross sale consideration of Rs 108.60 crore on June 28, 2018," the bank said in a regulatory filing.

As a planned strategy, the

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By Tom Metcalf and Dave LiedtkaThe weekend is offering some respite for Bitcoin investors.

The bellwether of the cryptocurrency world rose 8 percent to $6,338.22 as of 5:30 p.m. in New York on Saturday, according to Bitstamp prices. The gain, which comes after the digital asset crashed through the $6,000 threshold last week for the first time

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The markets were in for a rollercoaster ride during the week gone by with negative sentiments running across the media giving a feeling that markets will collapse, but that seldom happens.

Newspapers are filled with fearful headlines like “Rupee could see a new low; Trump tariffs give a bear hug; One-third of emerging markets in bear territory.”

I

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Forex reserve dips by $2.25 billion to $407.81 billion
India's foreign exchange reserves declined by $2.25 billion to $407.81 billion in the week to June 22 on account of fall in foreign currency assets, Reserve Bank of India (RBI) data showed.

In the previous week, reserves had decreased by $3.04 billion to $410.07 billion.

Forex reserves had touched a record high of $426.028 billion in the week to

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