With rupee at new low, RBI seeks explanation from Refinitiv post FX market trading glitch

The Reserve Bank of India has sought an explanation from Refinitiv after a glitch on the electronic trading platform caused trading volumes in the foreign exchange market to dry up, causing volatility in the rupee, which marked new lows versus the US dollar on Friday.

ESAF Small Finance Bank IPO lists at 20% premium on the exchange
Kochi: Shares of Esaf Small Finance Bank made an impressive debut on the exchange listing at a 20 per cent premium. The scrip listed at ₹71.90 per share on BSE and ₹71 per share on NSE, at a premium of 19.83 per cent and 18.33 per cent, respectively. The share price closed at ₹69.05 on the BSE, a 15.08 per cent premium, and at ₹68.80 on the NSE, a 14.67 per cent premium.

Dhanlaxmi Bank Q2FY24 net profit grows 46% Y-o-Y to ₹23.16 cr
Kochi: Dhanlaxmi Bank posted a 46 per cent growth in its net profit in Q2 of FY24 at ₹23.16 crore against ₹15.89 crore in the corresponding period of the previous fiscal.

ICICI Bank’s recent underperformances: Can investors bet on CEO Bakhshi's grit?

During the 2009 to 2018 period, when Chanda Kochhar–who took a mostly retail approach towards the growth– was at the helm of ICICI Bank, its stock price rose 11% annually, while the Nifty was up 10%.

HUDCO Q2 profit rises 14 pc to Rs 451.69 crore
State-owned Housing and Urban Development Corporation Ltd (HUDCO) on Friday reported a 14 per cent rise in net profit to Rs 451.69 crore for the September quarter, mainly on account of higher interest income.

SIDBI launches 'Sumpoorn' MSME Economic Activity Index with Jocata

For the first time ever, this MSME specific high-frequency indicator will capture the state of India's growth engine, its MSMEs, that contribute more than a quarter of the country's overall Gross Value Added (GVA) and more than 40 per cent of its total exports, a release said.
 

Annual private capital mobilisation by multilateral development banks needs to quadruple to $240 bn by 2030: N K Singh

Annual private capital mobilisation by multilateral development banks needs to quadruple to $240 billion by 2030, co-chair of the Independent Expert Group of MDB reforms set up under India’s G20 presidency N K Singh said, while cautioning against a piecemeal approach to reform of these institutions.

AGS Transact Technologies receives an order for 1,350 ATMs from SBI
A press release stated that the company received the order under its banking automation solutions portfolio. The SBI will deploy these "AGS" branded ATMs on a pan-India basis during FY24.

Fevicol-maker Pidilite to enter NBFC sector, offer small-value retail loans, says MD Bharat Puri
Pidilite, the makers of Fevicol, Dr Fixit, Fevikwik, and M-Seal, is entering into the NBFC sector by acquiring a promoter group firm Pargro Investments. Managing Director Bharat Puri said the new venture will not be a "big bang initiative" where Pidilite wants to be a large-scale business. The MD said they will provide small-value retail loans to the people related to its ecosystem, PTI news agency reported.

Airtel Payments Bank aims big on customer adoption
Gurugram-headquartered Airtel Payments Bank is targeting onboarding at least 1 million, or 10 lakh, customers each month “some time in H2FY24”, as against 750,000-900,000 customers at present, managing director and CEO Anubrata Biswas told FE.

Retail pie in NSE cos at record
Mumbai: Retail investor shareholding in NSE group firms surged to a record high of 7.62% during the September quarter due to growing popularity of systematic investment plans (SIP), and growing access through digital platforms amid a robust bull market, according to market tracker Prime Database.

BSE Q2 Results: Net profit surges over 300% to Rs 118 cr; revenue up 59%
Leading exchange BSE has reported over 300% growth in its net profit for the quarter ended September 2023 at Rs 118 crore, compared with Rs 29 crore in last year quarter.

Crypto lender Celsius Network cleared to exit bankruptcy
Crypto lender Celsius Network received U.S. bankruptcy court approval for a restructuring plan that will return cryptocurrency to customers and create a new company owned by Celsius creditors. U.S. Bankruptcy Judge Martin Glenn in Manhattan signed off on the restructuring in an order published on Thursday. The reorganized business will be managed by Fahrenheit LLC, a consortium that includes hedge fund Arrington Capital, and it will focus on mining new bitcoin and earning “staking” fees by validating blockchain transactions.

Diwali special: five ways to be a smart mutual fund investor
Many mutual fund investors are constantly searching for a secret formula or investment options that will make them super wealthy. Sadly, many of them really get into risky or unsuitable investments that often rob them of a chance to create wealth. That’s why ETMutualFunds believe investors should focus on small things that can make a big difference.

Dividend yields funds: Know their portfolio, returns and risks
Domestic stock markets have been volatile over the past month, with concerns regarding rising bond yields and the impact of the Israel-Hamas war on crude oil prices. Typically, dividend yield funds, due to their safe-haven appeal, gain relevance during such uncertain times. In India’s mutual fund market (MF mart), the dividend yield fund category comprises nine funds with a total AUM of about ₹18,500 crore. These funds are marketed as investments that target companies with stable business models and can limit drawdowns during challenging market conditions. Here, we provide details on fund strategies, allocations, and performance over the last one- and three-year periods.

Use price corrections to add more gold to your portfolio, Ghazal Jain of Quantum Mutual Fund
As one looks back on an eventful Samvat 2079, it is evident that a gold allocation has benefited investors. With returns on gold mutual funds as of October-end close to 20% y-o-y, many of us might have missed the gold rally. But don’t let that dampen the Diwali spirit. Prospects for gold are looking good in the long term, giving you more reason than just the festivities to invest in the precious metal.

Gold ETFs add more glitter this Dhanteras!
Indians have always had a rush for gold, which only gets stronger during Dhanteras, as they consider buying the yellow metal on Diwali day auspicious. The glitter of the physical gold apart, even products such as gold ETFs, gold mutual funds and sovereign gold bonds (SGBs) are shining bright these days, each with its own pros and cons.

India bond yields inch up before debt sale, US peers rebound
Indian government bond yields moved higher in early trade on Friday as traders geared up for a fresh debt sale, while a bounce back in U.S. Treasury yields also weighed on sentiment.

FY24’s first sovereign green bond issuance sails through

Under non-competitive bidding, five investors put in bids aggregating ₹12.023 crore. RBI accepted all bids.

NHAI accepts first insurance surety bond as bid security