The Indian rupee has recovered from the lows and trading at day's high level at 71.75 per dollar, with selling seen in the domestic equity market.It opened flat at 71.83 per dollar versus previous close 71.81.The rupee ended 10 paise lower at 71.81 against the US dollar on November 20, on concerns about US-China trade deal progress.Close Oil prices retreated on Thursday as a spat over Hong Kong added to worries of a delay in any US-China trade deal, after posting steep gains in the previous session on bullish US crude inventory data. related news Rupee drops 10 paise to 71.81 per dollar as US-China tensions weigh Rupee off day's low, trades at 71.82 per dollar Rupee recovers 13 paise to end at 71.71 against USD The Sensex was down 73.40 points or 0.18% at 40578.24, and the Nifty was down 26.10 points or 0.22% at 11973.00.According to ICICIdirect, the dollar-rupee November contract on the NSE was at 71.86 in the previous session. Open interest declined 1.84% in … [Read more...] about Rupee gains, trades at day’s high
Zee Entertainment Enterprises share price rose 15 percent in the early trade on November 21 after promoters of the media house mulled selling their stake in the company.Essel Group, a promoter of the company, is looking to sell up to 16.5 percent stake in the media company.After the transaction, Essel's holding will come down to five percent in the company, out of which encumbered holding will be 1.1 percent.Close The stake sale will be to clear loan obligations to certain lenders of the group. related news D-Street Buzz: Oil & gas stocks fall led by BPCL; L&T gains, UCO Bank zooms 16% GE Shipping share price gains 3% on closure of buyback Reliance Capital share price locked at lower circuit after assets sale restriction Also Read - Essel Group to lose controlling stake in Zee EntertainmentOf the 16.5 percent, 2.3 percent will be sold to OFI Global China Fund -- a subsidiary of Invesco Oppenheimer Developing Markets Fund -- which already held 8.7 percent stake in the … [Read more...] about Zee Entertainment share price rises 15% on stake divestment
Medical associations and professionals have said they will halt cashless treatments of beneficiaries of the Centre's medical care schemes unless rates are increased and unpaid dues paid, according to a report in Hindustan Times.Doctors associations, hospitals and nursing homes are yet to be paid at least Rs 1,000 crore for expenses incurred under these schemes, the Association of Healthcare Providers India (AHPI) said.The schemes will continue but beneficiaries would pay central government Health Scheme (CGHS) rates and then seek reimbursements from the government themselves, AHPI director-general Dr Girdhar Gyani told the paper.Close Cashless treatments will thus be halted as a stopgap measure to deal with delayed payments, he added. AHPI has 10,000 members pan-India, including Lilavati, Hinduja, Apollo and Fortis. related news SC agrees to hear PIL seeking deportation of Rohingyas, Bangladeshi immigrants in four weeks World needs India's ancient traditions of non-violence, … [Read more...] about CGHS: Hospitals irked over unpaid dues, threaten to stop treatment
Life insurance and asset management companies (AMC) are likely to be high-growth businesses due to the financialization theme that is playing out, Rusmik Oza, Head of Fundamental Research, Kotak Securities, says in an interview to Moneycontrol’s Kshitij Anand.Edited excerpts:Close Q) What is your assessment of the September quarter earnings? If you had to describe them in one word, what would that be? What were the highlights?Rusmik OzaHead of Fundamental Research|Kotak Securities 'Corporate tax cut will boost earnings by 15-20%; HDFC Bank, ONGC, M&M among 20 cos to benefit the most'Cement, oil & gas among 3 sectors likely to outperform; here’s why'Nifty unlikely to test 12,000; expect the slump in earnings to continue in Sept quarter'A) If one has to summarise the September quarter results in one word, it would be ‘Decent’. Further, if it needs to be summarised in a sentence, it would be ‘Optically healthy on earnings, due to corporate … [Read more...] about Don’t miss! Stocks from life insurance and AMC likely to be included in Sensex & Nifty
To clear its loan obligations, debt laden Essel Group on November 20 announced plans to sell 16.5 percent stake in its flagship company Zee Entertainment Enterprises to financial investors.Promoter Subhash Chandra along with his family owes over Rs 7,000 crore to domestic lenders, including mutual funds, and Russian lender VTB.The promoter and promoter group holds 22.37 percent equity in ZEE, of which 96 percent was pledged with lenders, as per shareholding data available on the exchanges.Also read: Is Subhash Chandra’s stake reduction good news for Zee shareholders?With this stake sale, mutual fund experts believe that fund houses will get back their capital stuck with the Essel Group. “All lenders debt will be cleared through this stake sale, and in some cases fund houses will be able to recover their lost valuations,” said Dhirendra Kumar, CEO, Value Research, a mutual fund research firm.In September, Essel group had made a part payment to the … [Read more...] about Subhash Chandra stake stake in ZEE | Will it release logjam for MFs?