Even as Karvy tried to adopt corporate practices, a few old habits lingered.
Sebi said in a June circular that brokers must segregate the securities and funds of clients.
Bankers said global pension funds looking for stable returns are likely to be key participants in the issue.
The stricter norms for portfolio managers are aimed at reducing mis-selling.
Top officials of SBI and Investec held talks recently, but the structure of the deal could not be ascertained.
Some of the behavioural changes reflect their confusion about the length of this slowdown.
It needs to be clear that there are no indications of stress in these companies.
HDFC 2020 papers were valued at 9.37 per cent, while Reliance Capital’s 2026 securities were valued at 8.55 per cent.
This means investors can expect another 5 per cent-7 per cent gain soon after the 5 per cent run-up on Friday.
At current price, Axis Bank’s M-Cap is Rs 1.67 lakh crore.
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