Companies

With Sensex below 567.98 points (1.02%) equity benchmark declined for the third consecutive day on June 7. Notably, the 30-share Bombay Stock Exchange (BSE) Sensex settled at 55,107.34, whereas the National Stock Exchange (NSE) Nifty fell by 153.20 (0.92%) and ended at 16,416.35. Furthermore,  international oil benchmark Brent crude dipped 0.26% to USD 119.2 per barrel. The points fell a day ahead of the new RBI-policy announcement, on June 8… read-more

Hong Kong will exclude the large supermarkets, pharmacies, and chain businesses from the next round of government wage subsidies, who remain “unaffected” from the fifth-wave of the Covid-19 outbreak, stated Hong Kong Chief Executive Carrie Lam. In addition, people earning over Hong Kong Dollar 30,000 per month won't be benefited from the scheme. Notably, the three-month scheme is targeted to aid about 1.3 million workers.

Out of the top ten domestic firms, six of them contributed a total of Rs 69,611.59 crore to their market valuation. Further, Reliance Industries gained the most as the valuation jumped to reach Rs 13,38,763.60 crore. Meanwhile, HDFC Bank, HDFC, SBI, ICICI, and Kotak Mahindra Bank were the gainers. However, TCS, Infosys, Hindustan Unilever Limited, and Bajaj Finance suffered a decline in their market cap.

Securities market regulator SEBI has urged the fund houses to contribute to Limited Purpose Clearing Corporation (LPCC) in a newly revised formula framed in FY 2020-21. Reportedly, the contributions now includes assets in conservative hybrid funds while excluding assets in gilt funds and overnight funds. Earlier, the formula was in accordance to the rules framed in FY 2019-20. Notably, contributions to LPCC improves liquidity in corporate… read-more