CAPITAL

The two-track market left the benchmark S&P 500 down for the week, and sparked questions about whether it could sustain gains going forward if the tech and growth stocks that account for the biggest weights in the index struggle.

Stock market update: 20 stocks hit 52-week lows on BSE

Domestic benchmark index NSE Nifty was trading 516.65 points down at 14580.7, while the BSE Sensex was trading 1757.42 points down at 49281.89.

Stock market update: BSE Capital Goods index rises over 1%; ABB India jumps 5%

The index was trading 1.35 per cent up at 22025.28.

Punjab & Sind Bank to allot shares worth Rs 5,500 crore to govt in lieu of capital infusion

An extraordinary general meeting of the shareholders of the bank is scheduled on March 25, 2021 for preferential issue of equity shares to the government up to Rs 5,500 crore, the bank said in a regulatory filing.

Hindalco announces capital allocation framework, amends dividend distribution policy

The company has decided to allocate around 50% of the cash generated to growth Capex, around 30% towards debt reduction, 8-10% towards shareholder returns and the rest to be retained in treasury.

ICICI Bank sold 19 million shares of Gammon Infrastructure through a bulk deal on the BSE at Rs 0.75 apiece.

No capital infusion by Punjab National Bank in housing finance subsidiary

As of December 31, 2020, Punjab National Bank held 32.65 per cent stake in PNB Housing. PNB --as a promoter-- has to remain invested in the company with a minimum requirement of 26 per cent.

IndusInd Bank gets Rs 2,021 crore capital boost from promoters

The two promoter entities are IndusInd International Holdings Limited (IIHL) and IndusInd Limited (IL).

GameStop's market value soared from $1.4 billion on Jan. 11 to a peak of $33.7 billion on Jan. 28. At that point, GameStop could have raised hundreds of millions of dollars through a stock sale to pay down its debt pile, which totaled $216 million net of cash as of the end of October.

Market Movers: How Magma Fincorp reacted to Poonawalla’s capital shot

Shares of Magma Fincorp rose 10 per cent today after Adar Poonawalla’s firm bought controlling stake in the company, which will result in an open offer from the owner of Serum Institute of India.

View: Capital formation gets much-needed push from the government

In the background of the economic and humanitarian challenges created by the pandemic, this budget emphatically signals a strong focus on investment-led growth. This approach of a strongly expansionary fiscal policy is welcome and required.

Bankers await clarity on ARC structure, capital allocation

Though the government has not allocated any funds for this new company, expectations are that public sector banks which are likely to be the biggest beneficiaries of this proposal will also be asked to invest.

Govt spending can spur formation of capital, lift demand

In the backdrop of all the unusual events of the past year, one could say this year’s budget came with minimal expectations. In those circumstances, a bold budget without worrying too much on immediate fiscal consolidation was presented. A higher-than-expected fiscal deficit target of 6.

2021: The year of capital challenge

With the government’s hands tied due to a collapse in revenues and increased spending to fight the Covid-19 fallout, banks were forced to test the waters on private capital. The result is a wake-up call.