The IPO is of 99,05,157 shares with a price band of Rs 470-475 per share. The government is selling 10.5 per cent stake or about 99.05 lakh equity shares, including 5 lakh shares to employees.

Gender diversity is missing in large areas of the financial services industry. There is no easy way out.

The RBI's move signals that gold could be in demand as a store of value given the declining returns and capital values of fixed-income bonds in a rising interest rate environment.

If the bank issues about $17 billion of new stock to back an acquisition, that would effectively dilute the Uday Kotak's holding below the RBI's 20 per cent target.

The Reserve Bank of India had allowed bank subsidiaries to provide commodity broking services in September last year, as the Securities and Exchange Board of India, the capital market regulator, tries to deepen the market.

How Malvinder and Shivinder Singh blew Rs 22,500 crore in less than a decade and lost control over Fortis Healthcare and Religare Enterprises.

The currency fell 42 paise to hit a fresh all time low of 70.32 intra day. Earlier, it opened 35 paise lower to 70.25 level compared to the US dollar.

Sebi currently has powers to seek call data records (list of people in touch with the caller) of those being probed, but can't intercept calls.

At 1:00 pm, the Sensex was trading 128 points higher at 38,015 level. Meanwhile, the Nifty was trading 18 points higher at 11,468 level. It hit all-time high of 11,495 level in early trade. While the Sensex has gained 11.67% since the beginning of this year, Nifty rose 9% during the same period this year.

At 9:56 am, the Sensex was trading 117 points higher at 38,004 level.  Meanwhile, the Nifty inched closer to the 11,500 level,  rising 45 points from its previous close. It hit all time high of 11,495 level.

The HDFC AMC stock later closed 65.01% or 715.15 points higher at 1815 level on BSE. It rose 4.38% higher than the listing price of 1739 level. The market capitalisation of the AMC on BSE stood at Rs 38,479.15 crore on the first day of its listing on the bourses.

A recovery in rupee, unabated buying by domestic institutional investors (DIIs) and encouraging earnings by blue-chips contributed to the uptrend, brokers said.

Banking rally was led by Bank of Baroda whose stock hit a fresh 17 week high level of 151.90 after the public sector lender reported a more than two-fold rise in Q1 net profit to Rs 528.26 crore.

The Sensex finally settled at 37,336.85, up 352.21 points, or 0.95 per cent-breaching its previous closing record of 36,984.64 reached yesterday. Nifty closed at a record high of 11,278.35, rising 111.05 points, or 0.99 per cent.

The IPO is available at a price band of Rs 1,095 to 1,100 per share. The issue size comprises 2.5 crore equity shares which includes 8,59,2,970 (4.08 per cent stake) equity shares by HDFC Ltd and 16,864,585 (7.95 per cent stake) equity shares by Standard Life Investments.

The IPO will open for subscription of anchor investors on Tuesday, July 24, 2018. The minimum bid lot for the IPO has been fixed at 13 equity shares and applications may be made in multiples of 13 equity shares thereafter.

The Sensex hit a fresh life-time high of 36,740 in trade today compared to 36,699 level which the index touched in intra day trade yesterday. The Nifty was trading nearly 100 points lower from its all time high of 11,171 level reached on January 29, 2018.

These four public issues are expected to fetch at least Rs 3,250 crore, according to merchant banking sources. All these companies plan to list on the BSE and NSE.

The fund house had filed preliminary papers with Sebi in March, seeking approval to float an initial public offering. HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments.