Experts Financial News

AMC Repo Clearing, the tri-party repo company the Finance Ministry launched in July, has waived transaction charges for three months and is set to increase the size of orders on its platform as it looks to draw in more participants in India's relatively shallow corporate bond market. «They (the AMC Repo) have waived the transaction charges for three months starting from December 11 for tri-party repos in corporate debt securities and there is a plan to increase the size of orders from ₹50 crore at present to ₹200 crore going ahead,» a source aware of the developments said. «By increasing the order size it brings down operational costs because an entity which wishes to execute a deal worth ₹200 crore for example will not have to pay multiple transaction costs,» the source said. AMC Repo's officials did not comment on the matter. Finance Minister Nirmala Sitharaman had on July 28 launched the Tri-party Repo in corporate bonds offered by the AMC Repo, which is focused on establishing a market for short-term borrowing against corporate debt. The operationalisation of the firm is a step towards the government's long-standing aim of deepening the corporate bond market. A tri-party repo is a type of contract that includes a third party which acts as an intermediary between two entities looking to lend and borrow funds through a repo operation.

Indian Venture and Alternate Capital Association, or IVCA, is reportedly in discussions with central government officials to help ease the wide-ranging curbs the banking regulator imposed earlier this week on Alternative Investment Funds (AIFs), potentially choking institutional fund flows to a high-risk and hitherto lightly regulated investment vehicle experts believe could be misused to evergreen doubtful corporate loans. SIDBI, which loans funds to small industries, and various AIFs are simultaneously seeking clarity or relief amid the sudden changes in AIF investments ordered by the Reserve Bank of India (RBI). «The industry association had a meeting with senior government officials and expects some relief or clarity within the next 30 days,» said a source at the grouping that represents the interests of private equity and venture funds.

RBI) foreign exchange reserves has dropped into negative territory after three years while the central bank seeks to balance the need for headline external buffers with liquidity drainage in a cash-strapped banking system. The RBI's net outstanding forward book — it represents proprietary dollar sales or purchases for a future date — turned negative in October. Mint Road is obligated to sell $14.6 billion dollars, latest data showed.

BSNL) has allegedly suffered a data breach as a threat actor has claimed to have “critical information” pertaining to the company’s users, ET has learnt. The threat actor using the alias ‘Perell’ has disclosed a “sample dataset” on a dark web forum, including sensitive details of fibre and landline users of BSNL. The dataset contains about 32,000 lines of data and the threat actor claimed that the total number of lines across all databases amounts to approximately over 2.9 million.

«Though the market saw profit booking of late, the underlying sentiments remain positive given robust micro and macro domestic factors. Further the market is likely to move in a range as investor participation is expected to gradually decline globally ahead of the Christmas and New Year holiday,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS

LIC The Department of Economic Affairs has decided to grant a one-time exemption to Life Insurance Corp to achieve 25% minimum public shareholding (MPS) within 10 years from the date of listing. GMR Airports NIIF will invest up to Rs 675 crore in the upcoming greenfield airport at Bhogapuram, Andhra Pradesh being developed by GMR Airports. Lupin LupinLife, the consumer healthcare business of Lupin, announced the launch of Softovac Liquifibre, a 100% Ayurvedic liquid laxative. Read more: Here's the trade setup for today's session Maruti Suzuki NCLAT adjourned the CCI matter and listed for next hearing on February 2, 2024. Brigade Enterprises Brigade Group leased office space to Sidvin Core-Tech India. The 10-year agreement is for Grade A office space at Brigade Deccan Heights in Northwest Bangalore. MOIL MOIL production has surpassed 16 lakh tonnes on 20 December.

AMFI)'s small-cap stock classification formula is likely to face challenges in the upcoming semi-annual reclassification, especially given the significant uptick in stock prices and the listing of new companies. The market capitalisation of stocks in the small-cap category, as per the existing formula, surpasses $3 billion (₹25,000 crore), deviating from the global average range of $300 million to $2 billion, said a report by ICICI Securities. «As the economy expands along with more new listings in the large- and mid-cap space, the 251st ranked stock's market cap (upper threshold for small-caps) will continue to expand and may not conform to global standards,» said a note by ICICI Securities. «Globally, small-caps are classified as stocks within the market cap range of $300 million to $2 billion irrespective of their market cap rank.» The broking firm suggests that the current methodology of the rank-based approach may need to transition to a fixed interval method based on judgment at some point in time. At present, certain stocks featured in AMFI's small-cap lists, such as Mazagon Dock, Suzlon Energy, Lloyds Metals, SJVN, and Kalyan Jewellers, among others, exhibit a market capitalisation ranging from ₹24,500 to ₹41,800 crore.

companies could spill over into the New Year as the US Federal Reserve's signal to cut interest rates in 2024 has partly eased concerns over higher-than-average stock valuations. While Accenture's latest growth guidance is indicating a subdued near-term outlook for the sector, fund managers and analysts said the US central bank's dovish tilt has reduced the risk of earnings downgrades. The next big trigger for the sector would be signs of deal wins by IT firms, they said. Since the Fed's latest meeting on December 13, the Nifty IT index has jumped 5.4%; the Nifty 50 gained 1.6% during this period. Investors have been cautious about the IT sector's prospects on account of the uncertainty over the US economy's outlook.

The holidays are supposed to be a joyful time, but they can also be financially stressful

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Drugmakers may soon have to identify in-house point persons for authorities to communicate with and hold responsible for breaches, a government communication showed. The apex drug regulator plans to order all drug companies to name a so-called responsible person (RP) who will be accountable for their day-to-day affairs, and serve as a single point of contact for state and central licensing authorities. On 16 December, drug controller general of India (DCGI) Rajeev Singh Raghuvanshi ordered the constitution of an expert committee to study the proposal.

MUMBAI : A new and more scientific way of calculation has put India’s logistics cost much lower than before. How sharp is this drop? Mint explains the reduction, where India stands globally when it comes to the cost of logistics, and what more needs to be done. A study by the National Council for Applied Economic Research (NCAER) commissioned by the ministry of commerce and industry has put India’s logistics cost at 7.8% to 8.9% of GDP.

Mint soon host the PodMasters Conclave & Awards, an event that will also bring together celebrities, experts and industry professionals from across India to define the future of the new-age medium. HT Smartcast is partering IVM Podcasts, Ideabrew Studios, WYN Studio, Hubhopper, Aawaz.com and MnM Talkies for the event, that will provide a platform for creators to get national recognition and become catalysts for the industry's next phase of growth.

licence fees, penalties, and charges, etc, in the Telecommunications Bill, 2023 has come as a damper for financially struggling telecom operator Vodafone Idea (Vi), as it may make it tough for the company to raise funds, lawyers and analysts said. The waiver provisions in the original draft contemplated a framework that would have allowed financially stressed firms like Vodafone Idea to be revived with fresh investment with any potential investor also factoring in a waiver of significant statutory dues. «The proposed powers to waive off or defer payment of fees, penalty and other charges have been removed from the final bill. This would have a negative revenue implication and has likely been removed due to that reason,» Manmeet Kaur, Partner, Karanjawala & Co told ET.

In the ever-evolving world of financial advisory, personalization has transcended the status of a mere buzzword to become a fundamental aspect of successful client engagement. This is a sentiment echoed by Joe Agostinelli, Senior Director of Market Research at Morningstar – who points out the increasing preference of investors for tailor-made investment strategies that align closely with their unique goals and financial ambitions.

Allcargo Logistics Thursday said it will demerge its money-spinning international business ECU Worldwide into a separate listed entity Allcargo ECU Ltd, as it aims, as the last step, to restructure its businesses. The international supply chain business accounted for over 88% of its total over Rs 20,0000 crore revenue as of FY23. “Express business and contract logistics business would come under the resulting entity Allcargo Logistics which will benefit from combined synergies and the shareholders of Allcargo and Allcargo Gati will get direct shareholding eliminating inefficient complex corporate structure,” the company said in a statement. The restructuring started with selling its non-core assets, progressed to giving exits to its partners and acquiring their stakes in business and has culminated with this demerger. The Allcargo Group will now have four listed entities Allcargo ECU, Allcargo Logistics (that will include the express business after it acquired Gati) apart from Allcargo Terminals and Transindia Real Estate, in each of which its promoters own 70%. “As per the approved swap ratio, based on the recommendations of the independent valuers, shareholders of Allcargo Gati will get 63 shares in the resulting Allcargo Logistics entity (post ISC demerger) for every 10 shares held in Allcargo Gati. Shareholders of Allcargo will get 1:1 shares in the demerged Allcargo ECU Limited and continue to hold their shares in Allcargo Logistics Limited, which will now be the resulting entity holding Express and Contract Logistics business directly.

UK with United Kingdom Health Service Agency reporting 4,813 cases this year. As the rate of tuberculosis or TB had been falling year-on-year since 2011, health experts had high hopes the illness could be eradicated in Britain. But their hopes were dashed when the year 2023 witnessed a rise of 7%, compared to the same period in 2022 when 4,480 cases were reported.

LIC or Life Insurance Corporation of India has been exempted till 2032 to follow 25% minimum public shareholding norms. «Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Department of Economic Affairs, Ministry of Finance vide Office Memorandum dated December 20, 2023, has decided in the public interest, to grant one-time exemption to Life Insurance Corporation of India to achieve 25% Minimum Public Shareholding (MPS) within 10 years from the date of listing i.e., till May 2032 under Rule 19A (6) of the Securities Contract (Regulations) Rules (SCRR) 1957,» LIC said in a regulatory filing. In May 2022, the government had sold 3.5% stake in LIC IPO, which was an entirely (offer for sale) worth around Rs 21,000 crore. It remains India's largest IPO to date. The stock is now down around 19% from its IPO issue price of Rs 949 per share.

According to forecasters, the northern regions are expected to experience 80mph winds while rainy conditions are anticipated throughout the festive period. In contrast, London residents might have a milder Christmas, with forecasted highs of 12C.

NEW DELHI : Credit rating agencies need to reform their sovereign rating process to correctly reflect the default risk of developing economies, saving billions in funding costs, the government’s chief economic adviser, V Anantha Nageswaran, said on Thursday. His comments coincide with India seeking an upgrade to its sovereign credit rating, currently at the lowest possible investment grade, as the South Asian nation has seen its economic metrics improve considerably since the pandemic.

selling cocaine for recreational use. It is seen as a radical approach to the war on drugs that is not thought to have been tried elsewhere. According to Reuters, the city's parliament still needs to overcome opposition from the city government and will also require a change in national law.