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Synopsis
This May, the Insolvency and Bankruptcy Code (IBC) completed five years since it was passed by Parliament. It was a law envisaged to give a quicker, time-bound alternative for recovery of bad loans for banks.
Agencies
This May, the Insolvency and Bankruptcy Code (IBC) completed five years since it was passed by Parliament. It was a law envisaged to give a quicker, time-bound alternative for recovery of bad loans for banks. Since its implementation, it has no doubt given an effective tool to recover loans but has not been able to live up to the expectations of a time-bound recovery. Following are the key numbers from the IBC journey so far.
Indices open flat amid global cues; HDFC Life dips 3%
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The stock markets opened flat on Tuesday tracking a mixed trend in global markets and sustained foreign fund outflow.. The Sensex was up 7.06 points or 0.01 percent at 52742.65. The Nifty50 declined 6.40 points or 0.04 percent at 15,808.30. About 1234 shares have advanced, 542 shares declined, and 69 shares are unchanged. The Nifty sectoral indices were mixed, with Nifty Private bank down 0.4 percent. S&P BSE MidCap and SmallCap indexes were trading 0.37 percent and 0.47 percent higher, respectively.
Asian Paints, Reliance Industries, and Larsen & Toubro were the top Sensex gainers. On the other hand, HDFC Bank and Kotak Mahindra Bank were the top laggards.
Trends on SGX Nifty indicate a cautious opening for the indices
ANI Photo
Trends on SGX Nifty indicate a cautious opening for the index in India with a 20 points loss. At 09:02 AM, the Sensex was up 75.11 points or 0.14 percent at 52810.70, and the Nifty was up 7.30 points or 0.05 percent at 15822.00. The Nifty futures were trading at 15,854 on the Singaporean Exchange. The Nasdaq and S&P 500 hit all-time highs on Monday, fuelled by tech stocks as investors expect a robust earnings season while interest rates remain low. Big tech companies including Facebook, Netflix, Twitter and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.
Sebi noted that Capital Money Mantra and its sole proprietor Gaurav Yadav have carried out investment advisory activities without obtaining a certificate of registration from the regulator