Investing

Sensex cracks over 746 points as Brent falls below $53/bbl

Sustaining heavy losses due to negative global cues, a benchmark index of Indian equities markets plunged over two percent or 573 points in the afternoon trade session Tuesday.

Maruti stock at 52-week high on Rs 20k price hike reports

The company said the price hike has been necessitated due to increasing pressure on margins due to currency fluctuation.

Heir apparent at Pimco, Mohamed El-Erian to leave by mid-March

Bill Gross, 69, who built Pimco over the course of decades into the colossus it is today, said two years ago that when he retired he expected El-Erian to take over.

Permanent PF account number to be a reality in 2014-15

The facility of online transfer of PF accounts has reduced the work load of EPFO substantially as over 13 lakh applicants are filed for such claims every year.

Firms allowed to convert overseas borrowing into equity via ECB

The notification was issued after RBI received references regarding what rate of exchange should be applied to the amount in foreign currency borrowed or owed by the resident entity from/to the non-resident entity.

RBI tightens provisioning norms for unhedged forex exposure

Banks should calculate the incremental provisioning and capital requirements at least on a quarterly basis, it said.

Bonds drop further, call rates remain stable

The 8.28 percent government security maturing in 2027 declined to Rs 93.04 from Rs 93.14, while its yield fell moved up to 9.18 percent from 9.17 percent.

Firms may issue debt to non-residents as bonus, says RBI

RBI said it simplified the norms following references from some Indian companies to issue non-convertible or redeemable bonus preference shares or debentures to non-resident shareholders.

Cabinet clears conversion of preference shares to equity in three banks

This will apply to three banks - Indian Bank, UCO Bank and Vijaya Bank, Finance Minister P Chidambaram said after the cabinet meeting in New Delhi.

EPFO decision on hiring new fund managers in Jan

The consultant would also evaluate the performance of new fund managers and appoint a custodian and concurrent auditor for the EPFO.

Allahabad Bank gets shareholders nod for QIP

At an extra-ordinary general meeting of the bank held in Kolkata on Tuesday, the shareholders approved the preferential issue of Rs 400 crore to government against capital infusion.

EuroPacific Growth Fund raises Power Grid stake to over 5%

At the end of September quarter, EuroPacific Growth Fund had 3.91 percent stake in the company.

Govt infuses Rs 200 cr capital in Andhra Bank

The government holds 58 percent, while FIIs, DIIs and others hold 11.19 percent, 11.78 percent and 19.03 percent, respectively, as on 30 September.