ICICI Bank plans $3 bn share sale; Indian gold prices cross Rs 50,000/10 gm | Top Headlines
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1. The market today opens with advantageous alarm. Titan goes up by 0.80 points taking the total to 989.00. Nifty FMCG witnesses a vast growth of 222.60 points surging up to almost 30000 points. Nestle, which is up by 0.61% tallies at 16810.05. Colgate too sees a hike of 1.12% taking the total points to 1403.85. Bajaj Auto sees a surprising rise of 20.35 points with a tally of 2837.60 points. However, the banking and finance sector saw a steep dip today. Reliance, ICICI Bank, Dish TV, BHEL, HDFC, Bajaj Finance, SBI, IndusInd, Nifty PSU Banks are some of the top losers in the market today. 2. ICICI mulling $3 billion share sale. Fund Raising Row - 8 banks/financials explore fundraise in the last 30 days - Raising despite sufficient levels of capital adequacy - Raising through stake sale in subsidiaries - Raising large quantum mostly in billions of dollars - Banks on a fundraising spree (QIO, Equity, Debt being considered) Proposed Fund-raising drive Companies - Amount - Capital Adequacy Kotak Mahindra Bank - $1 bn - 17%+ ICICI Bank - $3 bn - 16%+ M&M - $500 Mn - 19%+ HDFC - $1.8 bn - 17%+ SBI - $1.5 bn - 17%+ Yes Bank - $1.4 bn - 9%+ Shriram Transport - 4500 cr - 22%+ Federal Bank - Rs 12,000 crore - 14%+ Bajaj Finance - $1.2 bn - 25%+ 3. Investment in gold is a good hedging tool. Gold prices are volatile like all other asset classes. Gold prices are volatile like all other asset classes. Consider investing 5-10% of the portfolio in gold. Invest systematically every month in gold schemes. Consider gold funds if the quantum of investment is not large. Sovereign gold bonds offer interest of 2.50% p.a. (taxable). Capital gains on the maturity of sgb are exempted from taxation. What is the best way to monetise gold rally is by selling it? Capital gains are payable on gains booked on sale of gold. Converting physical gold into monetisation scheme attracts tax. Tune in for the full interview with Harsh Roongta, Personal Finance Expert on The Money Show with Mubina Kapasi. 4. Global markets have already spooked because of the fear of the second wave of COVID-19. Asian shares traded lower. Japan's Nikkei fell 1.30%, South Korea's Kospi was down 1.94% while Thailand's SET shed 0.98%. Equity markets in China, Hong Kong and Taiwan are closed on Thursday for a public holiday. Overnight US stock indices fell sharply. Dow Jones closed 2.72% lower, S&P 500 shed 2.59% while the Nasdaq index settled 2.19% lower. Watch! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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