The government is working to amend its 2016 guidelines with regard to dividend payment, bonus issues and share buyback by CPSEs, officials said.
The finance ministry had in May 2016, issued a comprehensive guidelines on ‘Capital Restructuring of Central Public Sector Enterprises (CPSEs)’ in 2016 for efficient management of government investment in CPSEs.
“With the CPSEs now more strong in terms of balance sheet and having improved on their market capitalisation, it is now time for a relook of the capital restructuring guidelines,” an official told PTI.
The amended guidelines are expected to be issued by the finance ministry this month, another official said.
As per the capital restructuring guidelines issued, CPSEs that do not have plans to deploy their capital optimally for business purposes should have a professional look at the surplus funds available to them.
As per the guidelines issued by the Department of Investment and Public Asset Management (DIPAM) in May 2016, every CPS
Posts in category Business Standard
Govt to amend CPSE capital restructuring guidelines for dividend payment (01-09-2024)
Australia leads world market in crypto ATM growth as kiosks pour in (01-09-2024)
Crypto kiosks dominate the cash-to-crypto industry, which has processed at least $160 million in illicit volumes globally since 2019, according to TRM
FPIs inflow in equities drops to Rs 7,320 cr in August on higher valuations (01-09-2024)
Foreign investors have adopted a cautious stance and infused Rs 7,320 crore in the Indian equities in August owing to high valuation of stocks and the unwinding of the Yen carry trade after Bank of Japan raised interest rates.
This investment was way lower than Rs 32,365 crore in July and Rs 26,565 crore in June, according to data with the depositories.
While September is likely to see continued interest from FPIs, the flows would be shaped by a combination of domestic political stability, economic indicators, global interest rate movements, market valuations, sectoral preferences, and the attractiveness of the debt market, Vipul Bhowar, Director Listed Investments, Waterfield Advisors, said.
According to the data with the depositories, Foreign Portfolio Investors (FPIs) made a net investment of Rs 7,320 crore in Indian equities in August.
The fundamental reason for the poor FPI interest compared to the preceding two months is the high valuation in the Indian market. With Nifty …
Mcap of 8 of valued firms surge Rs 1.53 trn; Airtel, Infosys top gainers (01-09-2024)
The combined market valuation of eight of the top-10 most valued firms surged Rs 1,53,019.32 crore last week, with Bharti Airtel and IT majors Infosys, Tata Consultancy Services emerging as the biggest gainers, in line with a record rally in equities.
Last week, the BSE benchmark jumped 1,279.56 points or 1.57 per cent.
Rallying for the ninth straight session on Friday, the 30-share BSE Sensex climbed 231.16 points or 0.28 per cent to settle at an all-time closing high of 82,365.77. During the day, it jumped 502.42 points or 0.61 per cent to hit a record intra-day peak of 82,637.03.
The market valuation of Bharti Airtel soared Rs 47,194.86 crore to Rs 9,04,587.12 crore.
Infosys added Rs 33,611.37 crore taking its valuation to Rs 8,06,880.50 crore.
The valuation of Tata Consultancy Services (TCS) jumped Rs 31,784.9 crore to Rs 16,46,899.17 crore and that of ICICI Bank surged Rs 18,734.3 crore to Rs 8,66,374.41 crore.
The market capitalisation (mcap) of Reliance Industries climbed
Global trends, trading activity of FPIs key factors to drive mkt sentiments (01-09-2024)
Movement in the stock market this week will largely be driven by global trends, macroeconomic data announcements and trading activity of foreign investors, analysts said.
Equity benchmark indices, which are on a dream run for the past several days, will also track trading in global oil benchmark Brent crude and movement of rupee against the US dollar.
“The next FOMC (Federal Open Market Committee) meeting is scheduled for mid-September, but before that, the market will be closely watching upcoming US economic data. Key indicators like manufacturing PMI, non-farm payrolls, and unemployment rate will be released this week, all of which could significantly influence market sentiment.
“Institutional flows will play a critical role,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
The primary driver behind the bullish momentum in the domestic market is the growing anticipation of a rate cut in the United States and buying support from domestic investors.
Auto stocks woul
NBCC board approves 1:2 bonus issue (31-08-2024)
NBCC (India) informed that its board has recommended the issuance of 1 bonus equity share for every 2 existing equity shares (1:2) to the eligible shareholders of the company as on the record date.
LIC pares stake in HDFC AMC (31-08-2024)
Life Insurance Corporation of India (LIC) disclosed that it has decreased its stake in HDFC Asset Management Company from 4.909% to 2.883%.
Indian Hume Pipe bags order worth Rs 859 cr (31-08-2024)
Indian Hume Pipe Company announced that it has received letter of intent from Tapi Irrigation Development Corporation Jalgaon, Maharashtra for an EPC project worth Rs 858.88 crore.
GPT Infra emerges as L-1 bidder for Rs 204-cr order (31-08-2024)
GPT Infraprojects on Friday announced that it has been declared as L1 (first lowest) by CAO Construction, South Eastern Railway, Kolkata for an aggregate value of Rs 204 crore.
Emami to acquire remaining 49.6% stake in The Man Company (31-08-2024)
The Kolkata-based FMCG company announced the acquisition of the remaining 49.60% stake in Helios Lifestyle (Helios), which is well known for its grooming brand ‘The Man Company’, for a consideration of Rs 177.63 crore.