Raamdeo Agrawal says everything is going well. The India story is compounded story. Past has been compounded. There is no reason why the future will not be compounded and in that future compounded story, we have a lot of businesses that are compounded and within them, good management will have compounding stories.
Sebi's order relates to actions by L&T asset management company, which was acquired by HSBC Group last year in May and was merged with its asset management company in October 2023.
The NSE Nifty rose 428.75 points, or 1.76%, to close at a record of 24,834.85. The index hit a lifetime high of 24,861.15 during the day. The BSE Sensex rose 1,293 points, or 1.62%, to end at 81,333 after hitting a high of 81,427.18. The index fell 10 points short of the all-time closing level of 81,343.
Sebi's investigation is based on the findings of Financial Conduct Authority, its counterpart in UK, for the period from January 1, 2006 to March 31, 2008.
The new norms would also impact net interest margins (NIM) as the stock of low yielding g-sec rises in banks' books, and intensify competition for retail deposits, the people cited above said.
"Banks led by State Bank of India had come in to support the reconstruction scheme. As per regulations, banks cannot remain invested in other banks," managing director and chief executive Prashant Kumar told ET in an exclusive interaction.
Small business owners in Paris expected a boon in visitors once the Olympics arrived. Instead, some, particularly in heavily touristed areas in central Paris, say they're experiencing a bust.
