Saturday, September 05
New Delhi: The Securities and Exchange Board of India (Sebi) plans to undertake a comprehensive review of its mutual fund rules, including unbundling of broking fee, as well as stock broker regulations at its board meeting next month, people familiar with the deliberations said. It has already released consultation papers on both sets of regulations. In October, the regulator issued a consultation paper proposing an overhaul of mutual fund rules, including a clearer definition of the total expense ratio (TER) and revised limits on brokerage charges. "We will relook at the proposal," said an official. Sebi has suggested excluding all statutory levies such as Securities Transaction Tax, Goods and Services Tax, Commodities Transaction Tax and stamp duty from the total expense ratio limits, al
Mumbai | New Delhi: Bharti Telecom is looking to raise ₹8,500-9,000 crore through a sale of bonds, its second in two months, as the holding company of Bharti Airtel seeks to refinance existing borrowings, people familiar with the matter said. The company plans to issue bonds with maturities of two and three years, the people said. The coupon rates are expected to be 7.3% for the two-year tranche and about 7.4% for the three-year paper, they said. The final pricing will depend on investor demand and the market conditions at the time of launch. "This is a normal refinance of the company's bonds which are maturing next month. Talks are at an advanced stage, but no date has been set for the issue which is likely to be in the next couple of weeks," a person familiar with the plan said. The co
Mumbai: India's equity indices declined 0.5% on Friday, mirroring the overnight weakness on Wall Street, as concerns over the valuations of technology giants overshadowed strong earnings by Nvidia a day before. The NSE Nifty finished at 26,068, down 0.5%, or 124 points. The BSE Sensex ended at 85,231, down 0.5%, or 400 points. Nifty and Sensex ended the week with gains of 0.6% and 0.8%, respectively, after the indices on Thursday came close to hitting all-time highs on Thursday. On Thursday, the Nasdaq Composite Index slumped 2.2%, while the S&P 500 and the Dow Jones Industrial Average fell 1.6% and 0.8%, respectively. The lack of clarity on the impact of Thursday's better-than-expected US jobs report on the Fed's interest rate decisions also weighed on sentiment. "The markets declined
Equity investors are growing increasingly concerned about the amount of leverage that Big Tech is taking on to build out its artificial intelligence infrastructure as the industry faces rising fears of a bubble. The enormous sums major technology companies are spending on AI are nothing new, but the record pile of debt they're raising to do it is. What's worrying stock traders is the trend represents a break from recent history, when companies tapped their huge cash piles to pay for their capital expenditures. The use of leverage and the circular nature of many of the financing deals introduces a level of risk that wasn't there before. "I view this as the AI story maturing and entering a new phase, one that is likely to be marked by more volatility and additional risk," said Lisa Shalett,
