Stocks
Stock investors become richer by Rs23 lakh crore in 2014
At present, total m-cap of BSE listed companies’ stands at Rs93.78 lakh crore, about Rs6.22 lakh short of the Rs100 lakh crore milestone
 
Stock market investors have become richer by over Rs23.33 lakh crore so far this year, as 25.49% rally in S&P BSE Sensex has helped the total valuation of all the BSE listed companies reach close to Rs94 lakh crore.
 
In contrast, investors’ wealth had surged by over Rs1 lakh crore to Rs70.44 lakh crore during same period in 2013.
 
At present, the total market capitalisation (m-cap) of BSE listed companies’ stands at Rs93.78 lakh crore, about Rs6.22 lakh short of the Rs100 lakh crore milestone.
 
During 31 December 2013 to 1 October 2014, the BSE's 30-share benchmark has gained 25.5%. The Sensex touched its life-time high of 27,319.85 on 8th September.
 
According to experts, positive investor sentiment following the formation of new government at the Centre and strong foreign fund inflows has been driving the domestic equity markets.
 
“The undercurrent of the stock market is bullish although stocks are currently in the consolidation phase and buying may resume in the days to come,” said an equities expert.
 
Marketmen have maintained that the surge in investor wealth is also due to continued rise in listed firms. The total number of listed companies stands at 5,485.
 
Sensex blue-chip companies whose market valuation is more than Rs 1 lakh crore include TCS, ONGC, RIL, ITC, Infosys, Coal India, HDFC Bank, SBI, Sun Pharma, ICICI Bank, HDFC, Bharti Airtel, HUL, Wipro, Tata Motors, L&T and NTPC.
 
Outsourcing giant TCS is the most valued Indian company with a market cap of Rs5.44 lakh crore.
 
Indian markets have seen smart gains this year helped by robust foreign fund inflows.
 
Since the beginning of this year, foreign investors have infused a net of Rs83,438 crore ($14 billion) in the stock markets, while they have invested a net of Rs1.18 lakh crore into the debt market ($19.6 billion).
 

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Kerala Congress warns Shashi Tharoor against praising Modi
Tharoor has responded positively to Modi's invitation to join the ambitious Swachh Bharat campaign. Congress in Kerala, Tharoor's home state, however is angry with him for lauding Modi's initiatives
 
The Congress in Kerala on Monday warned its leader and former union minister Shashi Tharoor against praising Prime Minister Narendra Modi. Tharoor, however, set the record straight holding that he is a "proud Congressman" and had not even remotely endorsed the "Hindutva agenda" of the Bharatiya Janata Party (BJP).
 
Signalling that disciplinary action would be contemplated against Tharoor if he kept on lauding Modi's initiatives, KPCC Vice President MM Hassan said, "As a first step, we are asking him to stop praising Modi as his stance went totally against the Congress' ideals."
 
Expressing strong displeasure, KPCC President VM Sudheeran said Tharoor should not be oblivious of the fact that he had been elected on a Congress ticket.
 
"Tharoor should not forget the fact that it is the Congress that made him a Member of Parliament. He should refrain from speaking against the party line," Sudheeran said at Vatakara in Kozhikode district.
 
Sudheeran also indicated that, if necessary, disciplinary action would be initiated against Tharoor after consulting other leaders if he kept on eulogising Modi.
 
Defending himself, Tharoor said his response to Modi's call to support the "Swachh Bharat" campaign would not mean that he even remotely endorsed the BJP's "core Hindutva" agenda and that he continued to be a "proud Congressman".
 
"I am astonished that anyone would suggest that I am pro-BJP. I have a 30-year paper trail of published writings on my idea of India and my profound belief in India's pluralism," Tharoor, a minister in the previous UPA government and the second term MP from Thiruvananthapuram, said in a Facebook comment.
 
"Being receptive to specific statements or actions of BJP leaders does not remotely imply acceptance of the party's core Hindutva agenda. The PM pitched his appeal as a non-political one and I received it in that spirit. I am a proud Congressman and a proud Indian. In short, not pro-BJP, just pro-India," the former UN diplomat, said.
 
Tharoor has responded positively to Modi's invitation to join the ambitious Swachh Bharat campaign but wanted it to be a sustained programme instead of being "tokenism".

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COMMENTS

shivkumar

2 years ago

Immature and petty Congressmen can't see beyond their noses. Political opponents should not be treated as enemies. Politicians should learn to appreciate each other's good points.

Coal blocks: Govt seeks AG's opinion on need for Ordinance
Issues that need to be resolved by the government in the coal mine case include forfeiting of bank guarantees and title deeds of the land mines purchased by the companies
 
The Coal Ministry has sought the opinion of Attorney General (AG) on whether the union government needs to bring out an Ordinance to deal with the issues arising from the Supreme Court decision to de-allocate coal mines.
 
According to sources, the issues that need to be resolved by the government in the coal mine case include forfeiting of bank guarantees and title deeds of the land mines purchased by the companies.
 
The Coal Ministry is seeking "advice of Attorney General on the issue of Bank Guarantee forfeited/ imposed on the allocatee companies, the cancellation of mining leases, the right and title of the land purchased by the allocatee companies".
 
Depending on the advice of the AG, sources said, the ministry will take a view on the Ordinance so as to deal with the implications of the Supreme Court's order in the coal case.
 
In a major blow to the corporate sector, the Supreme Court had last month quashed allocation of 214 out of 218 coal blocks allotted to various companies since 1993 terming the method as "fatally flawed" and allowed the Centre to take over operation of 42 such blocks which are functional.
 
The apex court said the beneficiaries of the illegal process "must suffer" the consequences and refused to show sympathy to private companies which submitted that Rs2.87 lakh crore have been invested in 157 coal block and Rs4 lakh crores in end-use plants.
 
It, however, saved from the "guillotine" four allocations one each to SAIL and NTPC and two blocks to Sasan Power Ltd owned by Anil Ambani's Reliance Power and also gave six months breathing time to rest of them to wind up their operations by 31 March 2015.

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