Latest news with #IndianOverseasBank
Khaleej Times
19 hours ago
- Business
- Khaleej Times
Indian companies raising funds through qualified institutional placement route
Question: I believe that many banks and large companies in India are raising funds by tapping the primary market through what is called the QIP route. Some well-known private companies are raising funds to finance green projects. I would appreciate it if you could throw some light on this fund raising exercise. ANSWER: QIP stands for Qualified Institutional Placements. It is an avenue for raising capital that allows listed companies to issue equity shares, fully and partly convertible debentures or any other security. The equity shares, debentures and other securities are subscribed by Qualified Institutional Buyers (QIBs). However, warrants which are convertible into equity shares cannot be issued under this route. The Securities and Exchange Board of India considers QIBs as institutional investors that possess the experience and financial muscle to evaluate and invest in the capital market. It has been observed that there is a spurt in QIP activity when the secondary market is bullish. A few weeks ago, Indian banks, Punjab and Sind Bank and Indian Overseas Bank raised capital through the QIP route. A few well-known private companies listed on the Indian stock market have also raised substantial funds through this route in the recent past. Public sector banks have been raising funds through QIPs to bolster their capital base, raise capital to finance their expansion plans and comply with shareholding regulations of the Reserve Bank of India. Question: With India putting emphasis on clean energy, will it be able to get access to minerals and metals which are critical for production of turbines, solar panels and electric vehicle batteries? ANSWER: India holds two licences from the International Seabed Authority (ISA) which is a body set up under the UN Convention on the Law of the Sea that regulates all mineral related activities on international sea beds. The first licence is for an area spread over 75,000 square kilometres in the Indian Ocean which is considered to be rich in polymetallic or manganese nodules, which are packed with minerals like iron, manganese, nickel, cobalt and copper. The second licence, valid till 2031, covers 10,000 square kilometres where three tectonic plates converge. This zone holds polymetallic sulphides, which are rich in nickel, cobalt, zinc, manganese, copper rare earth and platinum-group elements. Experts believe that minerals can be extracted from the oceans to meet future demands of rare minerals with minimal ecological impact. Researchers are mapping biodiversity to establish a baseline for assessing environmental impact and ensure sustainable mining. The Ministry for Earth Sciences is building an indigenous research vessel which will deploy buoys and submersibles to collect samples and use seismic waves to locate minerals on the sea bed. A Deep Ocean Mission has been set up to develop a deep sea mining system and cutting-edge technologies. This is the only way by which India can become self-sufficient in minerals and rare earths which are critical to clean energy transition. Question: Recently there was a report on Indian television channels in respect of a company which defrauded two state run financial institutions and diverted funds received as loans for personal purposes. Are auditors of the company not responsible for exposing this diversion of funds? What steps are being taken in this regard? ANSWER: Auditors are certainly responsible for detecting frauds and bringing them to the notice of shareholders and regulatory authorities. In the past, The Institute of Chartered Accountants of India has taken firm measures to bring the errant auditor to book. Likewise, ICAI will now review through the Financial Reporting Review Board the financial statements and statutory audit reports of the company which has allegedly committed the fraud. If allegations are found to be true, the disciplinary committee of the Institute will take action against the auditor. Stringent measures are being taken by the Institute from time to time in appropriate cases to ensure auditor accountability. In this financial year, the audit rotation policy will come into play and mandatory rotation will have to be done so that the same firm of auditors does not audit the financial statements of the company for more than ten years. Well governed companies listed on stock exchanges in India are currently in the process of evaluating different audit firms. These companies are adopting a more structured and competitive process than a decade ago before selecting the new firm of auditors. Firms are being evaluated based on multiple dimensions like the quality and credibility of the audit team, especially the lead partner. Prior experience with similar businesses is given due weightage. Technology is another key differentiator. Companies now expect automation, analytics, and tech-enabled audits. Another key factor which audit committees of companies are taking seriously is the independence of auditors by ensuring that apart from the audit assignment, the same firm does not get other professional work which would compromise their independence. The writer is a practising lawyer, specialising in corporate and fiscal laws of India.
Mint
a day ago
- Business
- Mint
Stock to buy under ₹100: Experts recommend six shares to buy today — 3 June 2025
Stock to buy under ₹ 100: After opening lower in the early morning session, the Indian stock market showed resilience and steadily recovered on Monday. The Nifty 50 index successfully defended the previous swing low of 24 462 established on 22 May 2025 and closed with a marginal loss 24,716. The BSE Sensex went off 77 points and closed at 81,373. The Bank Nifty index added 153 points and ended at 55,903. Broader market indices continued their outperformance trajectory, with the Small Cap index surging over 1%, while Nifty Bank reclaimed the psychologically significant 55900 level. The mid and small-cap segments reinforced their relative strength, advancing 0.62% and 1.19%, respectively, demonstrating sustained investor appetite for these market segments. On the Indian stock market's outlook today, Siddhartha Khemka, Head of Research—Wealth Management at Motilal Oswal, said, "The Indian market is expected to continue its consolidation amid weak global cues, although downside may be limited due to strong domestic macros and a potential boost from the anticipated RBI rate cut." Speaking on the outlook of the Nifty 50 today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, "The Nifty 50 index, after witnessing a huge gap down opening in the morning session, recovered significantly as the day progressed and closed on a flat note with overall bias sustained and as mentioned earlier, a decisive breach above the 25,000 zone shall confirm a breakout with upside targets of 25,500 and 26,300 levels achievable in the coming days. At the same time, on the downside, the 24,500 zone is positioned as the important and strong support level which needs to be sustained to maintain the overall bias intact." "The Bank Nifty index, after a long period of the rangebound session, has indicated a breakout closing wise above the tough resistance hurdle of 55,800 zones to strengthen the trend and can anticipate a further rise in the coming days and can trigger fresh upside targets of 57,700 and 60,300. As mentioned earlier, the near-term support shall be maintained near the 54,500 zone, which needs to be sustained as of now," said Shiju Kuthupalakkal. Regarding stocks to buy today, market experts — Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher; Mahesh M Ojha, AVP — Research at Hensex Securities; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshil Jain, Head of Research at Lakshmishree Investment and Securities — recommended these six intraday stocks for today: Indian Overseas Bank, OLA Electric, Yes Bank, TTML, PSB, and Sigachi Industries. 1] Indian Overseas Bank: Buy at ₹ 42, Target ₹ 50, Stop Loss ₹ 38. 2] OLA Electric: Buy at ₹ 52.70 to ₹ 53.70, Targets ₹ 55, ₹ 56.50, ₹ 58; 3] Yes Bank: Buy at ₹ 22.80 to ₹ 23.30, Targets ₹ 23.90, ₹ 24.50, ₹ 26, Stop Loss ₹ 21.80; and 4] TTML: Buy at ₹ 72 to ₹ 73.50, Targets ₹ 75.50, ₹ 78, ₹ 80, Stop Loss ₹ 70.80. 5] PSB or Punjab & Sind Bank: Buy at ₹ 32.90, Target ₹ 37.50, Stop Loss ₹ 35.50. 6] Sigachi Industries: Buy at ₹ 53.50, Target ₹ 60, Stop Loss ₹ 50. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
a day ago
- Business
- Mint
Stock to buy under ₹100: Experts recommend six shares to buy today — 3 June 2025
Stock to buy under ₹ 100: After opening lower in the early morning session, the Indian stock market showed resilience and steadily recovered on Monday. The Nifty 50 index successfully defended the previous swing low of 24 462 established on 22 May 2025 and closed with a marginal loss 24,716. The BSE Sensex went off 77 points and closed at 81,373. The Bank Nifty index added 153 points and ended at 55,903. Broader market indices continued their outperformance trajectory, with the Small Cap index surging over 1%, while Nifty Bank reclaimed the psychologically significant 55900 level. The mid and small-cap segments reinforced their relative strength, advancing 0.62% and 1.19%, respectively, demonstrating sustained investor appetite for these market segments. On the Indian stock market's outlook today, Siddhartha Khemka, Head of Research—Wealth Management at Motilal Oswal, said, "The Indian market is expected to continue its consolidation amid weak global cues, although downside may be limited due to strong domestic macros and a potential boost from the anticipated RBI rate cut." Speaking on the outlook of the Nifty 50 today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, "The Nifty 50 index, after witnessing a huge gap down opening in the morning session, recovered significantly as the day progressed and closed on a flat note with overall bias sustained and as mentioned earlier, a decisive breach above the 25,000 zone shall confirm a breakout with upside targets of 25,500 and 26,300 levels achievable in the coming days. At the same time, on the downside, the 24,500 zone is positioned as the important and strong support level which needs to be sustained to maintain the overall bias intact." "The Bank Nifty index, after a long period of the rangebound session, has indicated a breakout closing wise above the tough resistance hurdle of 55,800 zones to strengthen the trend and can anticipate a further rise in the coming days and can trigger fresh upside targets of 57,700 and 60,300. As mentioned earlier, the near-term support shall be maintained near the 54,500 zone, which needs to be sustained as of now," said Shiju Kuthupalakkal. Regarding stocks to buy today, market experts — Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher; Mahesh M Ojha, AVP — Research at Hensex Securities; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshil Jain, Head of Research at Lakshmishree Investment and Securities — recommended these six intraday stocks for today: Indian Overseas Bank, OLA Electric, Yes Bank, TTML, PSB, and Sigachi Industries. 1] Indian Overseas Bank: Buy at ₹ 42, Target ₹ 50, Stop Loss ₹ 38. 2] OLA Electric: Buy at ₹ 52.70 to ₹ 53.70, Targets ₹ 55, ₹ 56.50, ₹ 58; 3] Yes Bank: Buy at ₹ 22.80 to ₹ 23.30, Targets ₹ 23.90, ₹ 24.50, ₹ 26, Stop Loss ₹ 21.80; and 4] TTML: Buy at ₹ 72 to ₹ 73.50, Targets ₹ 75.50, ₹ 78, ₹ 80, Stop Loss ₹ 70.80. 5] PSB or Punjab & Sind Bank: Buy at ₹ 32.90, Target ₹ 37.50, Stop Loss ₹ 35.50. 6] Sigachi Industries: Buy at ₹ 53.50, Target ₹ 60, Stop Loss ₹ 50.
Time of India
4 days ago
- Business
- Time of India
IOB Recruitment 2025: Last date to apply for Local Bank Officer at iob.in, apply here
Indian Overseas Bank Begins 2025 Recruitment For JMGS-I Officers, Apply By May 31 IOB Recruitment 2025: Indian Overseas Bank (IOB), a premier Public Sector Bank headquartered in Chennai, has officially announced the recruitment of 400 Local Bank Officers across various Indian states. The recruitment drive is for Junior Management Grade Scale I (JMGS - I) positions under the 2025–2026 hiring cycle. Eligible and interested candidates can apply online via the official IOB website ( from May 12, 2025, to May 31, 2025. This recruitment presents an excellent opportunity for aspiring banking professionals who are proficient in the regional language of their respective states. Vacancies Available Across Six States The recruitment is strictly state-based, meaning candidates will be posted only in the state for which they apply. Tamil Nadu offers the largest number of vacancies (260), followed by Maharashtra (45), Gujarat (30), West Bengal (34), Punjab (21), and Odisha (10). Knowledge of the respective state's mandatory local language is a prerequisite for application. Category-wise, the total 400 vacancies are distributed as follows: 60 for Scheduled Caste (SC), 30 for Scheduled Tribe (ST), 108 for Other Backward Classes (OBC), 40 for Economically Weaker Sections (EWS), and 162 for Unreserved (General) candidates. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like เทรดทองCFDs กับโบรกเกอร์ที่เชื่อถือได้ | เรียนรู้เพิ่มเติม IC Markets สมัคร Undo Additionally, 16 posts are reserved for Persons with Benchmark Disabilities (PwBD), covering categories such as Visually Impaired (VI), Hearing Impaired (HI), Orthopaedically Challenged (OC), and those with Intellectual Disability (ID). Pay scale and benefits Selected candidates will be appointed as Assistant Managers under Scale I, with a pay structure beginning at Rs 48,480. The full scale reads as: Rs 48,480–2000/7–Rs 62,480–2340/2–Rs 67,160–2680/7–Rs 85,920. Alongside the basic salary, candidates will be entitled to Dearness Allowance (DA), House Rent Allowance (HRA), City Compensatory Allowance (CCA), and other benefits as per prevailing regulations. Important dates to remember • Start of Online Application: May 12, 2025 • Last Date for Online Application: May 31, 2025 • Payment of Application Fee: May 12, 2025 to May 31, 2025 Application guidelines and instructions Applicants must ensure they meet all eligibility criteria before submitting their application. It is crucial to fill in the details personally and accurately. Once the application fee or intimation charge is paid, it will not be refunded or adjusted under any circumstances. Steps to apply online for IOB Local Bank Officer Recruitment 2025 1. Visit the official website: Go to using any internet-enabled device. 2. Click on the recruitment link: Navigate to the careers or recruitment section and select "Recruitment of Local Bank Officer 2025–2026". 3. Register yourself: Fill in basic details to generate a provisional registration ID and password. 4. Complete the application form: Enter personal, educational, and experience details, and upload scanned copies of your photograph and signature. 5. Pay the application fee: Make the payment through the available online modes and submit your application. Direct link to apply for Indian Overseas Bank 2025 Read the official notification here Indian Overseas Bank's Local Bank Officer recruitment offers a robust career path in the banking sector, especially for those seeking a stable, regionally based position. Candidates are encouraged to apply well before the deadline to avoid last-minute hassles. Ready to empower your child for the AI era? Join our program now! Hurry, only a few seats left.
The Hindu
5 days ago
- Business
- The Hindu
IOB, Amul, Richplus to promote organic farming
Indian Overseas Bank (IOB) has entered into a tripartite Memorandum of Understanding (MoU) with AMUL, India's largest dairy cooperative, and Richplus, AMUL's organic farming partner. According to the stakeholders, this MoU will promote organic farming and help in rural empowerment. Ajay Kumar Srivastava, Managing Director & Chief Executive Officer of IOB said about one lakh farmers will be onboarded through this initiative. 'This partnership is a remarkable step toward reshaping Indian agriculture. By combining our strengths, we can create a transformative journey for farmers, allowing them to embrace sustainable practices that enhance their livelihoods,' said Amit Vyas, Managing Director of of AMUL. A co-branded Organic Farming Card for IOB account holders was also launched. This card offers farmers access to discounted organic inputs through AMUL's certified outlets and other benefits including free agronomist support, training opportunities, and high-quality seeds. IOB will also introduce a dedicated credit scheme 'Harit Kranti ', tailored to the needs of organic scale the initiative, a series of organic farming conclaves will be organized, beginning with a major FPO meet in Madurai in June, followed by events across Tamil Nadu.
