That interest rates at the long end could rise in the second half of the year is disconcerting.
If the real estate majors don't get real, they could soon be in line for another bailout next year, or even earlier.
In a few months, private sector lender IndusInd Bank may have a new identity. The move was in line with the repositioning exercise initiated by the new management team led by Managing Director and Chief Executive Officer Romesh Sobti.
Shares of ITC, Axis Bank and Larsen & Toubro are likely to stay with the Specified Undertaking of the Unit Trust of India, which was to be wound up in June.Legal opinion received by the government suggests that SUUTI can exist as long as all investors in one of the schemes floated by the erstwhile Unit Trust of India have not redeemed their investment, sources close to the development said. The value of the shares of the three blue chips was estimated at over Rs 15,000 cr.
What's worrying for the public sector banks is the rise in delinquency in the housing portfolio, which does not include real estate. But a bank chief said that with low exposure to the real estate sector, the state-run banks have fewer worries. The other area of concern is credit cards but the operations of public sector banks in this segment are small compared with the likes of ICICI Bank, HDFC Bank and Citibank, the largest players in the business.
Less than half-a-dozen people have evinced interest in buying the eight apartments owned by the late Harshad Mehta and his family, partly due to a last-minute case filed by the stockbroker's mother, Rasila S Mehta.
In a possible precursor to further rate cuts, Finance Minister Pranab Mukherjee's meeting with public sector bank chiefs on Monday will review their benchmark prime lending rates and interest rates on loans for automobiles, homes, small and medium enterprises and non-banking finance companies.
The top line is in trouble, but lower prices of inputs have helped companies salvage profitability. That's not helping their bottom lines though - net profits have slipped sharply.
Standard Chartered CEO-Asia Jaspal Bindra spoke to Anirudh Laskar and Sidhartha about the bank's plans and his assessment of the situation.
Even as retail consultants continue to roll out the slide about the bright prospects for modern trade, on the ground, sales are sliding
Sixteen years after the stock market scam orchestrated by Harshad S Mehta, the custodian has put up eight apartments in a complex called Madhuli, which is occupied by his family in upscale Worli, for sale.
The move comes a month after three-day terrorist attacks in Mumbai on November 26 left at least 183 people dead and thousands wounded. A source close to the development told Business Standard that following 26/11, as the terror attacks came to be called, reinsurance rates have hardened in the global markets.
Not all companies are generous with numbers these days - they're willing to share details of their core operations, but many of them are reluctant to let shareholders get even a glimpse of newer ventures
FMCG moves fast, while real estate yields ground and metals lose their lustre. The star of 2008 so far has been Hindustan Unilever; the multinational FMCG player has actually gained 20.45 per cent between January 1, 2008 and December 24, 2008.
Pradip Shah, managing director, IndOcean, feels that although gold has done reasonably well, it doesn't really create too much value in the long run.
The Citi deal should help Wipro beef up its presence in the banking and financial services (BFSI) space. The target company does work in the technology infrastructure services space as also application development and maintenance and the Rs 19,957 crore (Rs 199.57 billion) Wipro should be able to leverage these services with other clients. The assured revenues of $500 million will come in handy at a difficult time.
In an economic downturn such as this, when the markets have crashed, there are many more Satyams which are vulnerable to hostile takeovers because the promoters do not have a controlling stake. Such promoters will be tempted to take cash out of their companies and park it elsewhere.
Paresh Parasnis, HDFC Standard Life Insurance Company's principal officer and executive director spoke to Shilpy Sinha & Sidhartha about the company's strategy.
By entering into related-party deals without shareholder approval, the firm has done irreparable damage to India Inc's reputation. Minority shareholders of Satyam Computer have every reason to feel short-changed. Without so much as by your leave, the management has decided to enter into related party transactions using the company balance sheet.
Over the last weekend, the central bank has tried to address the biggest near-term concern for property companies --bankruptcy -- says a CLSA report. The one-time move, which will allow banks not to classify commercial real estate loans as non-performing loans, will reduce the near-term risks for some property firms.
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