The Indian stock market remains one of the most expensive in the emerging world, adjusted for the expected pick-up in corporate earnings in the next 12-months.

The bechmark Nifty is trading at a price to earning growth (PEG) ratio of 0.73, ahead of the indices of other emerging markets such as Brazil, Indonesia, Mexico, and South Africa. Only the Shanghai Composite Index is more expensive than Indian markets at a PEG ratio of 0.81. The S&P BSE Sensex is marginally cheaper at a PEG ratio of 0.69.

The Securities and Exchange Board of India (Sebi), equipped with the additional power of taking action in illegal mobilisation of funds through collective investment schemes (CIS), is yet to overcome the hurdle of local constraints, sources say.

According to people familiar with the matter, the markets regulator has adopted a pro-active approach to look into complaints of probable cases of CIS and taking action, but any such action leads only to half a crackdown.

Andhra Pradesh government has sanctioned two lakh houses for the rural poor of Scheduled Caste (SC), Scheduled Tribe (ST) and Other Backward Classes (OBC) communities, Chief Minister N Chandrababu Naidu announced today.

Government will provide a subsidy of Rs 1.50 lakh for SCs and STs and Rs 1.10 lakh for OBCs for the houses, measuring 270 sq feet each, while the remaining amount will be paid by the beneficiaries, Naidu said while addressing TDP’s special executive committee meeting here.

Delhi/Bengaluru: India’s second largest e-commerce firm Snapdeal reported a 301% jump in gross merchandise volume (GMV), or value of goods sold on the site, for the year ended March 2015, according to documents put up by its largest investor SoftBank Corp. on its website.

Though SoftBank didn’t disclose Snapdeal’s GMV figure, two people familiar with the matter said Snapdeal touched an annualized GMV of roughly $2 billion in March. They spoke on condition of anonymity as they aren’t allowed to speak with reporters on this topic.

NEW DELHI: Hyundai Motor India Ltd (HMIL) today reported 5 per cent increase in total sales at 50,408 units in July.

The company had sold 48,014 units in the same month last year, HMIL said in a statement.

Technology giant Google will make paid apps available for as low as Rs 10 through its app store, Google Play to help expand the paid apps user base in India.

“India continues to be a major growth opportunity for developers to reach new users on Google Play. We’ve heard feedback from you – our global developer community – that you’d like more flexibility when choosing how much to charge for your apps and games in India,” Google Product Manager (Google Play) Alistair Pott said in a blogpost.

Maruti Suzuki, the country’s largest passenger vehicle manufacturer, reported a 22.5% growth in domestic sales for July, helped by high growth in its mini and compact segments.

This is the second highest monthly sales growth in the current financial year.

Mumbai: The Securities and Exchange Board of India (Sebi) has cautioned investors against investing money in companies that make a public offer without complying with the necessary legal and regulatory framework. Since January 2013, the capital market watchdog has taken action against 193 such entities, according to a press release issued on Friday.

“Some unlisted companies are luring retail investors by issuing securities, including non-convertible and convertible debentures/ non-convertible and convertible preference shares/ equity shares in the garb of private placement, without complying with the provisions of Companies Act, 1956 read with the Companies Act, 2013, Sebi (Issue and Listing of Debt Securities), Regulations, 2008, Sebi (Issue and Listing of Non-Convertible Redeemable Preference Shares), Regulations, 2013 and Sebi (Issue of capital and Disclosure Requirements) Regulations, 2009,” said the release.

It has been reported that the long awaited redesigned version of Apple TV set top streaming box is finally ready to be launched in September.

Speaking of the newly added features, on the hardware side, Apple is said to have slimmed down the Apple TV itself, and the Apple TV remote is also getting re-stylized featuring a new haptic touch pad. It sounds like Apple is also updating the Apple TV’s processor to one of its A8 chips, and it’s also adding more RAM for a speed boost.

The country’s biggest engineering and construction firm Larsen & Toubro (L&T) on Friday missed analysts’ estimate by posting a consolidated net profit at Rs 606.2 crore for the April-June quarter, a 37.3% decline over the same period last fiscal, with the company stating that the short-term business environment continues to remain challenging.

Consolidated net sales grew 6.7% to Rs 20,250 crore, which was in line with estimates. Of this, Rs 6,609 crore came from jobs being executed overseas, constituting 32% of the total revenues.

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