Shares of Sterling and Wilson Solar Limited made a weak debut on stock exchanges. Sterling and Wilson Solar's share price opened at Rs 706 on the National Stock Exchange, down 9.48% from its issue price of Rs 780. On the BSE, Sterling and Wilson's share price declined as much as 11.4% to Rs. 691 from its issue price. Sterling and Wilson Solar Limited's three-day initial public offer (IPO) opened for subscription on August 6. Sterling and Wilson Solar sold equity shares in the price band of Rs 775-780. The initial public offer of Sterling & Wilson Solar was subscribed 92% on the final day and raised around Rs 2,900 crore. 75% of the IPO was reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors(NIIs) and the remaining 10% for retail investors. Sterling and Wilson Solar Lt

Chandrayaan-2 is all set to perform its most critical step in the space journey, as it readies for a lunar capture to enter the moon’s orbit. Chandrayaan-2 successfully entered the lunar orbit today after nearly 30 days of the journey in space. ISRO said, “Lunar Orbit Insertion (LOI) manoeuvre was completed successfully today (August 20, 2019) at 0902 hrs IST as planned, using the onboard propulsion system. The duration of the manoeuvre was 1738 seconds. With this, Chandrayaan-2 was successfully inserted into a Lunar orbit. The orbit achieved is 114 km x 18072 km”. The moon is revolving around the earth and its location is changing constantly. It takes nearly 27 earth days to complete one orbit around the earth, while at the same time rotating on its axis. Chandrayaan-2 carrier so many payloads and would b

If the largest lender SBI has its way, it may herald the beginning of the end of the ubiquitous debit cards from the banking system as the bank plans to promote more digital payment solutions and eliminate the plastic cards. This is despite the huge reliance on debit cards by customers of SBI which services a fifth of the population. SBI Chairman Rajnish Kumar said at the annual Fibac, “It is our wish to eliminate the debit cards, and am sure we can eliminate them”. All over the country, there are 90 Cr debit cards out of which 3 Cr credit cards and pointed out to digital solution like it's own ‘YONO’ platform as the key for achieving a debit card-less country, said Kumar. According to him, through the Yono platform, one can withdraw cash at the automated teller machines or pay for purchases at a me

The Capital markets regulator of SEBI is planning to ease its norms for buyback of shares by listed companies. This facility is especially those having subsidiaries in housing finance and NBFC sectors. According to top officials, the proposal is expected to be discussed by SEBI’s Board in this meeting to be held within a week. As per the regulation of the Securities and Exchange Board of India (SEBI) and Companies Act 2013, the repurchase of shares of listed companies is governed by the Buyback Regulations. As per the SEBI Regulation, the buyback offer cannot exceed 25% of the aggregate paid-up capital and free reserves of the company, but shareholders' approval is required through a special resolution in case of the size exceeding 10%. Also, a buyback is permitted only if the ratio of the aggregate of se

Shaktikanta Das, governor Reserve Bank of India (RBI) said in his word, new loans to an external benchmark like the central bank's repo rate will be formalised as an economic impetus is required not just from monetary policy assistance but also through the transmission of rates. However, he did not clarify if formalisation would mean that RBI will issue guidelines on this. As per the central bank, banks must set their interest rates for new loans against an external benchmark beginning of 1st April. The new rule was supposed to apply to all new retail loans and small business loans with floating rates. Meanwhile, in April, Das postponed the move and said RBI will hold consultations with stakeholders on it. Currently, banks price their loans against their marginal cost of fund-based lending rate(MCLR). The w

Private sector lender IDFC First Bank gives interest ranging from 7% to 8.5% on deposits maturing in 1 year to 10 years. Meanwhile, senior citizens to get an additional spread of 50 basis points over the rate of general customers. For deposits maturing in 7-14 days, IDFC First Bank offers 4.00%, for 15-29 days, 5.00% and for 30-45 days, the bank offers an interest rate of 6.25%. FDs maturing in 46-90 days will fetch an interest of 6.50% and those deposits maturing in 91-180 days will offer 6.75% interest. IDFC First Bank latest FD rates for the general public (below Rs 2 crore) : 7-14 days 4.00% 15-29 days 5.00% 30-45 days 6.25% 46 -90 days 6.50% 91-180 days 6.75%. The top lenders like Kotak Mahindra Bank, Axis Bank and ICICI Bank revised their interest rates on fixed deposit (FD) accounts. Most

Gearing up for the next phase of growth in consumer Internet and financial services, digital payments player Paytm announced the promotion of its Chief Financial Officer Madhur Deora as the company's President. Before joining Paytm in October 2016, Deora served as Managing Director in Citigroup's investment banking business. Paytm recently announced that within a year of the launch of its ‘Loan EMI, Credit Card Bill, and Insurance premium’ payment use-case, it has captured 70%  market share among all mobile payment apps for BFSI payments. The company has been rapidly onboarding partners from the insurance and banking sector to become a single platform for such payments. It has tied-up with more than 30 major insurance companies and more than 45 finance companies. Paytm is the single largest pl

Shares of Apollo Hospitals Enterprise Ltd have gained 10% since it announced its June quarter. With the performance reassuring investors on asset optimization and profit metrics, the stock hit high of Rs 1,4687. Losses the company’s new ventures, housed under Apollo Health and Lifestyle Ltd., reduced significantly. Additionally, higher revenues at its pharmacy and hospitals improved operating earnings by 27%. Consolidated profit margins rose to 11.4% year-on-year, taking it to the highest levels in recent quarters. Even so, the profitability gap between new and established hospitals remains enormous and has scope for improvement. Also, per-store metrics of relatively new pharmacy stores have room to improve. According to the Edelweiss Securities Ltd, two of Apollo Hospitals Enterprise’s businesses are yet to