Havells will acquire the entire consumer business infrastructure, people and distribution network. Plus all intellectual property of the Lloyd brand, logo, trademark and attendant rights.
The Essar group, Jindal Steel and Power, Monnet Ispat, Bhushan Steel and the Avantha group have been asked to close deals by March-end.
'The big elephant in the room is our misguided view about the rupee.' 'India is scared that if our currency appreciates, who will buy from us. But a breakout is inevitable.'
'Despite uncertainties around demonetisation and the GST, we expect Indian equities to deliver positive returns.'
'I have very little faith in economists who tell me that demonetisation will reduce growth.' 'The greater effect of demonetisation is if it creates changes in the financial services system and gets people to shift from cash.' 'The economy is not a trained monkey that will jump around if you lower rates.'
Collection dived to 75-80% in November-December from 99% after demonetisation.
Axis Bank's loan portfolio quality deteriorated, with gross NPAs rising to 5.22% of gross advances.
Banks lend 60,000 cr in 8 weeks since Nov 8; Y-o-Y credit expansion slows further.
Going by the pace, almost 80 per cent of the demonetised currency is expected to be replaced by end-February.
The upgrade, said Icra, takes into account the "robust internal accrual generation, leading to low reliance on debt, as well as gearing levels, and strong debt protection metrics".
Stocks such as ICICI Bank, Axis Bank, State Bank of India, Bank of Baroda and HDFC Bank are among the top banking picks of analysts for 2017. A decline in cost of funds and treasury gains are expected to help stabilise their net interest margins
'It is unlikely that foreign portfolio investors (FPIs) might increase their India allocation, given the overweight status for most FPIs.' 'Given the commentary from the Republican Party, an anti-imports approach means money will not flow out of the US.'
A teaser loan is one where the lender offers a slightly lower rate in the initial years and then charges higher rates in later years.
'The Street is divided on when we could recover from demonetisation.' 'The government believes it is a pain at best for two quarters.' 'Some analysts feel the impact could be felt for two-three quarters and some that it could last for 12 to 15 months.' 'Investors are stuck in a no-action zone.'
'Unless India Inc's earnings offer promise in March 2017 quarter, sentiment may not reverse in a hurry.'
Demonetisation impact: Money lenders make a comeback.
Banks have reported that banknotes worth Rs 592,613 crore have been issued to the public.
'Nobody will wait now. Everyone will come to deposit their old notes. The confidence is shaken.'
There is not much bank employees can do, but some words of encouragement from the management would have helped. Stretched working hours and the tense atmosphere is taking a toll on their health.
Five stocks - Havells, NCC, Suzlon, Blue Star and Crompton Greaves look most attractive after the recent course correction.
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