While the overall loan disbursements stood strong at 15 per cent YoY in Q2, pockets such as vehicle finance, loans to NBFCs, and business banking showed some weakness. A continued fall in these numbers may make it tough for AU SFB to defend its valuations under the current circumstances.
International brands such as Daikin, Hitachi and Samsung, which were largely present in the premium products range, are getting aggressive on expanding their mid-range portfolios to penetrate into smaller cities and towns. While competition isn't hurting Voltas just yet, which has managed to retain its market share at 24.4 per cent as of September 30 (Q2), the main question is whether the company can defend its market share without compromising on profitability.
The IPO is an offer for sale of 38 million shares by SBI, BOB, LIC, PNB and T Rowe Price. Barring T Rowe and PNB, the others are selling stake to comply with Sebi norms.
Equity MF schemes recorded worst inflows in three and a half years at Rs 1,311 crore for November. Investors across the board have taken money off the table as markets have scaled new highs. Industry experts said SIPs had stayed intact, which is a healthy sign for the MF industry.
Loans of over Rs 1.8 trillion, for which agreement has been signed by banks, are likely to be referred to IBC.
The operating environment is unpredictable, but if the bank can't give a clear picture of what's in store, calling the bottoming out of its asset quality stress is nearly impossible.
An infusion of capital would come as a much-needed relief for the bank, with its capital adequacy ratio barely above the regulatory requirements, as of June disclosures.
It has been a decade since Shyam Srinivasan took over as managing director and chief executive officer at Federal Bank. He wants to ramp up the bank's unsecured lending going ahead even as it homes into the space vacated by competition. Reappointed for a fresh three-year term as the bank's helmsman, he spoke to Hamsini Karthik on the plot ahead.
Experts say the trend is worrying as it could take a toll on the pace of equity flows and also hinder the penetration drive of the Rs 24-trillion MF industry.
In September, net equity inflows stood at Rs 6,609 crore, compared to Rs 9,152 crore in the previous month. In the last four months, this is the lowest net inflow tally seen by the equity category.
Sources say given the complexity involved in the process of creating a holding company, which will ultimately be the parent company of banking and other businesses, banks are going slow in acquiring stakes in insurance arms or mutual funds of other lenders.
In an interaction with Jash Kriplani, A Balasubramanian, managing director and chief executive officer, Aditya Birla Sun Life Asset Management Company, shares his optimism on what makes him believe that these cuts can help in addressing multiple issues plaguing the economy, without letting fiscal deficit pose any major risk.
Market sources said other brokerages are also looking to streamline their business models as market volatility, along with increasing competition, has taken a toll on earning yields.
Being one of the early commentators to flag economic slowdown and caution investors on corporate earnings, Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction.
This is not the first time that users of Zerodha clients have faced technical issues. As recently as February, 2019, the platform faced a connectivity issue that led to a pile-up of orders.
Given the relevance of bank deposits for Indian savers, whether the regulator would permit linking savings interest rate to a repo-like structure needs to be seen, as a move of this nature could increase volatility in savings also.
Among the stocks that have seen the largest cut by MFs, the DVR shares (shares with differential voting rights) of Tata Motors have seen a cut of 243 basis points (bps) in MFs' stake.
Equity flows have been under pressure since the second half of 2018, after the IL&FS crisis sent shockwaves in both equity and debt markets.
The PMS manager can only charge performance fee to investors if the fund has crossed its highest value as on the day when the fee is supposed to be charged.
Sebi pointed out instances of misleading the investors by reporting incorrect data on investor complaints, instances of inappropriate utilisation of funds meant for investor education, such as spending on programmes meant for financial advisors, charging of expenses to the said funds for stationery items such as notebooks, planners and calendars, and charging of expenses without adequate records.
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