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KOLKATA: India’s monetary policymakers flagged the possibility of policy rate tightening in the third quarter if higher food and fuel prices lead to a second-order impact and translate into a broad-based increase in inflation, the minutes of the Reserve Bank of India’s (RBI) August monetary policy meeting showed. Risks of a broad-based increase in inflation…
Mumbai: In its first order since introducing the new closing auction session (CAS) earlier this month, Sebi on Wednesday barred Copthall Mauritius Investment and Mansi Share and Stock Broking from accessing the securities market and participating in the CAS, alleging the two entities manipulated the Sensex on the August 13 expiry day to benefit from…
Asian stocks rose as pressure from the bond market eased after the US Treasury unveiled plans to buy back longer-dated debt to curb borrowing costs. Treasuries held their gains, while the dollar steadied after falling to a three-month low. MSCI’s Asia Pacific equities gauge climbed 0.8%, led by shares in South Korea, which jumped over…
Mumbai: Banks must measure the progress of financial inclusion not only by the number of accounts opened, but by how effectively they are used and whether customers have the information and confidence to make informed financial decisions, Reserve Bank of India (RBI) deputy governor Shirish Chandra Murmu said. Banks have to stay responsive to shifts…
Kolkata: India needs to make gold recycling more attractive to unlock household stocks and reduce dependence on imports, said Samit Guha, managing director of MMTC PAMP, the country’s only gold-refining unit accredited by the London Bullion Market Association. Indian households are estimated to hold 31,000 tonnes of gold. The country imports about 800 tonnes annually…
Mumbai: The Securities and Exchange Board of India (Sebi) has planned a comprehensive review of rules governing IPOs by small and medium companies, its chief, Tuhin Kanta Pandey, said Wednesday. Separately, he said the new system for determining the closing prices of most frequently traded securities detects manipulation much faster than was possible with the…
Mumbai: The benchmark Nifty’s estimated price-to-book (P/B) ratio, a key valuation measure that compares a company’s market value with the value of its net assets or book value, has fallen below three times to its lowest level in six years. The decline partly reflects the index’s large exposure to banks, whose shares have underperformed even…
The main U.S. stock market indexes closed modestly higher on Wednesday, as easing government bond yields boosted risk appetite while a dramatic rally in shares of vaccine-maker Moderna drove gains in the healthcare sector. Investors barely reacted to minutes from the U.S. Federal Reserve’s July meeting, which showed deepening concern about inflation with “several” policymakers…
Flexi-cap funds are equity mutual funds that give fund managers the flexibility to invest across large-cap, mid-cap, and small-cap stocks. However, this flexibility does not mean that all flexi-cap funds maintain a similar portfolio mix. Some funds have a strong tilt towards large-cap stocks, while others allocate a relatively higher share to mid- and small-cap…
Starting construction of a new house before selling an existing residential property does not automatically rule out a Section 54 exemption. However, the timing of construction, completion, and other conditions can determine whether the tax benefit is available. Here’s what taxpayers need to know. How does Section 54 work for construction? Saurabh Kumar, Managing Partner…