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If there’s one job in banking that might be considered immune to the business cycle, compliance would be it.  It’s the one true secular growth industry – year in, year out, there is more regulation to comply with, and therefore more need for people to check that compliance is happening.  And although it’s not considered one of the better paid specialisms, there is always the possibility of coming across some really bad misbehaviour and cashing in through one of the extremely lucrative whistleblower programs.

The annual review season at a big bank is a strange phenomenon – it isn’t quite the same thing as the bonus round, but nor is it completely separate.  Although the biggest driver of compensation is always your market value, in the sense of what your boss thinks you might be offered elsewhere, it’s often difficult to get the really big payouts if you’re not scoring well.  And if you are trying to get promoted to Director or Managing Director, you really need to be lighting up those “Exceptional” or “Significantly Exceeds Expectations” rankings to fill out your promotion case.

The NSE Nifty index traded 173.16 points up at 23760.65, while BSE Sensex was 586.21 points at 78627.8 as of 10:18AM(IST)on December 23.

Russian Railways JSC — the state-owned carrier responsible for all rail transport throughout the country — last week approved a 30% cut in its investment program for next year amid soaring borrowing costs, news agency Tass reported, citing the transportation minister. An increase in war-related cargoes is also compounding existing bottlenecks, while sanctions weigh on cross-border payments. Those factors, along with longstanding logistical issues, are slowing the transport of goods like coal and aluminum.

Axis Securities has initiated a coverage with a buy call on Shriram Finance with a target price of Rs 3825. The current market price of Shriram Finance is Rs 2938.4. Shriram Finance, incorporated in 1979, is a Large Cap company with a market cap of Rs 109946.78 crore, operating in NBFC sector. Shriram Finance's key products/revenue segments include Interest, Other Operating Revenue, Fees & Commission Income, Income From Financial Services, Income From Sale Of Share & Securities, Dividend and Rental Income for the year ending 31-Mar-2024.

«So, net-net, I think, okay, there is some back and forth going on, we had the surprise from the Fed chair, but overall, the tailwind is still there coming into 2025,» says Santosh Rao, Manhattan Venture Partners. Where is the Santa? Santa is supposed to come year end, Santa rally is missing. Santosh Rao: We still have a week left, so I am sure we will get a little bit more. The whole thing is, at a broader picture, we will have the benefit of doubt, we will have the Trump rally. We are still not sure if it was pulled forward, I do not think so. The market is still good. The fundamentals are still good. Yes, inflation is sticky, there is fear of the budget deficits, there is fear of tariffs and lower taxes. All this trifecta of events are still weighing on the long-term bonds. So, the bond market, the yields are going up there.

Coforge Ltd.(up 1.0 per cent), Wipro Ltd.(up 0.61 per cent), HCL Technologies Ltd.(up 0.47 per cent), MphasiS Ltd.(up 0.47 per cent) and Tech Mahindra Ltd.(up 0.46 per cent) were among the top gainers.

Shriram Finance Ltd. 2.64 per cent to Rs 2947.85 in Monday's trade as of 10:14AM (IST). The stock hit a high price of Rs 2951.25 and low of Rs 2913.90 during the session.

Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff. Bank Nifty Today Live Updates: The Bank Nifty opened at 51044.4 (0.58%) , 295.7 points higher than the previous closing. Bank Nifty Today Live Updates: At current prices Bank Nifty, faces the below Resistance and Support levels As of the last trading day, the Bank Nifty closed at 51,575.7.

Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff. Nifty 50 Today Live Updates: The Nifty 50 opened at 23738.2 (0.64%) , 150.7 points higher than the previous closing. Nifty 50 Today Live Updates: At current prices Nifty 50, faces the below Resistance and Support levels As of the last trading day, the Nifty 50 closed at 23951.7.

₹840.25-crore worth DAM Capital Advisors IPO is entirely an offer for sale (OFS) of 2.97 crore shares. DAM Capital Advisors IPO price band is set at ₹269 to ₹283 per share. DAM Capital Advisors IPO GMP today is also showing a positive trend for the stock led by strong demand.

Sumit Gupta, AVP-Research, Centrum Broking, says the government is providing a push towards manufacturing and R&D. Indian pharma has technical know-how. Now, the government wants to do technical ‘know-why’. Say Indian companies are currently doing CDMO manufacturing for MNC players. The government wants us to do R&D, build on some basically blockbuster drugs and then outsource that to some other countries. In one of your recent reports, you say that the government policies are expected to aid the long-term growth of the pharma space. The government is focusing on the R&D side, they are focusing on building and promoting bulk drug parks. How do you see the domestic companies benefit out of the same and amongst this whole sector, which particular segment is expected to benefit the most? Sumit Gupta: The government is focusing on promoting R&D and manufacturing in the pharmaceutical sector and these policies will be catering to or helping the overall sector for the medium to long term. So, the policies like bulk drug parks or the PLI for the pharma scheme or PLI for manufacturing critical APIs, drug intermediaries and KSMs or PLL for medtech. These are some of the sectors which are expected to benefit from government schemes.

Ashoka Buildcon will be in focus in Monday's trade after the company signed an agreement to invest Rs 9,000 crore in Bihar. The funds will be used for setting up a green hydrogen plant in Bihar, its COO-Renewable Energy Mayank Sharma said.

IndusInd Bank will be in focus after the Reserve Bank of India imposed a penalty of Rs 27.30 lakh on IndusInd Bank for non-compliance with certain provisions of norms related to 'interest rate on deposits'. The RBI had conducted a statutory inspection for supervisory evaluation of the bank with reference to its financial position as on March 31, 2023, and had issued a notice to the private sector lender.

Reliance Industries will likely remain in focus on Monday after the company announced that Reliance Digital Health (RDHL), its wholly-owned subsidiary, will acquire a 45% stake in Health Alliance Group. The total value of the transaction has been stated to be $10 million.

«Our GDP numbers came lower. If you see the corporate tax collection growth which the data came, it is just about in high single digit, that shows that even the earnings going forward may not see any meaningful upside,» says Gurmeet Chadha, Complete Circle Consultants. Help us with your take on the markets. How do you see the weakness and especially the weakness that we are seeing on the broader markets? Do you believe that we could be in for some more weakness from these levels? Gurmeet Chadha: So, if you see, I made this point in our previous interactions, whenever the bond yield in US surges, whenever the dollar index crosses 107, I think we see heightened volatility, which again is the case.

Subscribe to enjoy similar stories. The Indian rupee has been under pressure in recent months, with more of it being converted into US dollars than the other way round. Last week, its exchange rate slipped below ₹85 to the dollar.

After the bonanza of recent central bank decisions, this week is much quieter with only the minutes of a few of those meetings due. There are no Federal Reserve speeches and U.S. data is of secondary importance.

Do you believe the market has borrowed returns from the near future or is there enough left on the table? Markets always tend to price themselves based on the expectations of future growth. When we evaluate the current valuations through the lens of anticipated economic growth, small- and mid-cap stocks appear to be trading at stretched levels compared to their historical averages. On the brighter side, large-cap stocks seem more resilient, backed by stronger growth metrics and better return on equity.

The benchmark S&P 500 is up more than 24 per cent for 2024, even after a major stumble this week, and Wall Street has historically often enjoyed a strong annual close, according to the Reuters report. Since 1969, the last five trading days of the year combined with the first two of the following year have yielded an average S&P 500 gain of 1.3 per cent, a period known as the «Santa Claus Rally», according to the Stock Trader's Almanac. But this year, there are signs Santa Claus may disappoint, Reuters reported.

I2U2 Group, a groundbreaking quadrilateral partnership between India, Israel, the United Arab Emirates, and the United States. The event, titled «I2U2: Towards a Transformative Quadrilateral Partnership», brought together distinguished experts who explored the partnership's role in reshaping international cooperation and economic integration. The event held virtually was organised by the CUTS International, a leading public policy body of India. In his opening remarks, Pradeep S Mehta, Secretary General of CUTS International, emphasised the partnership's innovative approach, noting that «I2U2 deliberately sidesteps traditional conflict narratives. Instead of focusing on historical tensions or regional disputes, the I2U2 partnership prioritises pragmatic economic cooperation and technological innovation.»