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Digital Transactions:Concerted efforts by the Reserve Bank to move to a non/less-cash economy by pushing digital payments have begun to pay rich dividends as the volume of such payments has jumped manifold in the past five years, the latest data from the central bank showed.
Between 2015-16 and 2019-20, digital payments have grown at a compounded annual growth rate of 55.1 per cent – from 593.61 crore in the year to March 2016 to 3,434.56 crore in the year to March 2020.
In absolute terms, value has grown from Rs 920.38 lakh crore to Rs 1,623.05 lakh crore during this period, clipping at an annual compounded rate of 15.2 per cent.
Wipro: The Bengaluru-headquartered IT firm may see its net profit in the quarter ended September decline from a year ago, but rise on a sequential basis. All eyes are set on the IT major’s buyback plan, deal wins and on the guidance for the current quarter and the fiscal year. Wipro is a counter worth watching for a rise in the future as they intend to go in for a Buy-back like TCS.
Vedanta: Billionaire Anil Agarwal’s Vedanta Resources on Saturday said it has failed to garner the required number of shares to delist Indian subsidiary Vedanta. The total number of shares validly tendered by the public shareholders in the delisting offer was 125.47 crore, less than the minimum number of shares required to be accepted by the acquirers in order for the delisting offer to be successful.
Mazagon Dock Shipbuilders, UTI AMC: State-run Mazagon Dock Shipbuilders and asset manager UTI Asset Management Company (AMC) are set to make their debut on the bourses on Monday – Mazdock quotes at Rs 190 up by Rs 40.
UTI AMC is trading at a discount now at Rs 524- down Rs 30 from IPO rate.
Sun Pharma: Leading drug maker Sun Pharma is recalling 747 bottles of generic diabetes drug in the US due to the possibility of the affected lot containing cancer causing nitrosodimethylamine (NDMA) above the acceptable intake limit, the US health regulator has said.
Gold climbs past Rs 51,000:
Rupee extends gains by 8 paise against dollar on RBI dovish policy.
Gold and silver were trading with gains on Monday against the trend in international markets amid waning stimulus hopes after talks ran into resistance. But a limited stimulus may still come out. Gold futures on MCX were up 0.39 per cent or Rs 197 at Rs 51,014 per 10 grams. Silver futures advanced 1.34 per cent or Rs 841 to Rs 63,715 per kg.Rs 51,014 per 10 grams. Silver futures advanced 1.34 per cent or Rs 841 to Rs 63,715 per kg.
Sebi may probe Vedanta delisting bids
Who’s to blame for the Vedanta delisting failure? The management of the resources company and its bankers seem to believe technical glitches on the exchange platform did them in. But Asia’s oldest bourse differs. The spat has drawn Sebi’s attention, which is likely to ask BSE to verify the source of 120 million unconfirmed bids and whether the bids were genuine or there was any foul play as alleged by some shareholders. That caused wild swings in the stock price besides fueling confusion, according to people aware of the development
Retail investors may get to access G-sec soon
Retail and corporate investors are soon likely to have direct access to the government bond market. RBI and Clearing Corporation of India (CCIL) are working to put in place a system that would pave the way for seamless trading of government securities (G-secs) by non-institutional traders and investors. The plan, expected to be rolled out in the next few months, has been discussed at recent meetings between senior RBI and CCIL officials.
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