An Indian TV channel, ET NOW, reported citing sources that the Reserve Bank of India is looking to increase its reserves of gold substantially. A Central Bank buys gold for the same reason that households do. It’s a safe investment.
This may come as good news for India’s biggest gold lenders Manappuram Finance, Muthoot Finance.
The shares of Manappuram Finance ended a percent lower yesterday, whereas Muthoot Finance was up at 1.3%.
SBI Card raised ₹500 crore via 5.75% 2023 bonds. The shares of SBI Cards ended 3% higher yesterday.
FMCG major Britannia on Monday said its board has declared an interim dividend of ₹83 per share for the current fiscal and approved issue of bonus debentures.
Britannia said its board has also accorded its approval for the issue of unsecured, non-convertible, redeemable, fully paid-up debentures, along with an appropriate cash component, as may be decided, aggregating to ₹41.50 per equity share of the face value of ₹1 each, subject to the applicable tax laws at the relevant time, by way of bonus to the members of the company under a scheme of arrangement.
The shares of Britannia ended 3% higher yesterday.
RBL Bank board will meet on August 20 to announce plans for capital raise. RBL Bank is the latest to announce plans to raise funds amidst the Covid-19 economic crisis, after its peers, HDFC Bank, Kotak Mahindra Bank, Axis Bank and ICICI Bank have raised capital.
The shares of RBL Bank ended 4% higher yesterday.
The Reserve Bank of India (RBI) has lifted the restriction regarding the remuneration of Bandhan Bank’s MD and CEO after the promoter shareholding was brought down to 40% in line with the central bank’s norms.
In September 2018, the RBI, among other restrictions, said that the remuneration of the MD and CEO of Bandhan Bank stands frozen at the existing level in view of non-compliance with RBI’s licensing norms for new private sector banks.
The shares of Bandhan Bank ended almost flat, yesterday.
The Supreme Court adjourns telecom Adjusted Gross Revenue (AGR) dues to August 19. The apex court has also asked Centre to clarify its stand on why Reliance Jio, which is earning revenue by sharing Reliance Communication’s (RCom) spectrum be not asked to pay the AGR related dues to the government.
The Centre told the top court there is a difference of opinion between two of its ministers (Department of Telecommunication and Ministry of Corporate Affairs) on the issue of sale of the spectrum during insolvency proceedings.
The shares of RIL ended nearly a percent lower, yesterday.
Telecom giant Airtel has completed the payment on commercial papers issued on May 18.
The shares of Airtel ended nearly 2% lower, yesterday.
Market regulator Sebi has slapped a fine of ₹10 lakh each on state-run lender SBI for non-compliance with its mutual fund norms, the banks informed bourses on Monday.
Sebi has fined Rs 10 lakh (under the procedure for holding an inquiry and imposing penalties) on the bank for non-compliance of directions issued in case of holding, more than prescribed limit, equity shares of UTI AMC Ltd and UTI Trustee Company Pvt Ltd, State Bank of India (SBI) said in a regulatory filing.
The shares of SBI ended nearly 2% lower, yesterday.These companies are slated to report their first quarterly earnings today.
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