The bulk of the erosion in terms of value took place in India's most-valued firms. For instance, Mukesh Ambani-led Reliance Industries alone has lost Rs 3.8 trillion in m-cap, followed by HDFC Bank, which has seen its value erode by Rs 2.45 trillion and Tata Consultancy Services (TCS), which has lost Rs 1.85 trillion to stand at Rs 6.24 trillion, making it India's most-valued.
'The only thing that is safe right now are government securities.'
This is an exceptional case of extension beyond the 330-day limit under the insolvency and bankruptcy code.
Foreign brokerages said if SBI decide to buy stake in the bank, they should buy it at Rs 1 per share as the net worth is hugely impaired.
Market players said NBFCs and HNIs are recalibrating their plans based on the changing dynamics.
Bank credit growth declined to 8.5 per cent in January from 13.5 per cent in the year-ago period.
Both indices are down nearly 9 per cent from their all-time highs in mid-January. A sharp reversal seems difficult this time as the peak impact of the virus is yet to play out.
The answer to that depends on whether the globe is able to contain the virus spread, says Samie Modak.
Naved Masood, former secretary in the Ministry of Corporate Affairs and Sebi board member; TV Mohandas Pai, chairman of Manipal Global Education and Dinesh Kanabar, CEO, Dhruva Advisors have ceded their position on the NSE board following end of their tenure.
At issue size of Rs 10,355 cr, the offering will be Asia's biggest this year and fifth-largest domestically.
A Russian fund submitted its interest to the resolution professional on February 14 and also hired a consultancy firm to help them with the bidding process.
In absolute terms, the outstanding book value of NPAs of LIC in the debt portfolio across life, pension and unit-linked funds is to the tune of Rs 32,685.39 crore at the end of December 2019.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
In the past 10 trading sessions, shares of the state-owned company have shot up more than 50 per cent.
The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.
South America-based Synergy Group, one of the suitors, has said slots at London's Heathrow airport are critical to the airline's operations and will decide on participating in the resolution only if it gets clarity. It also wants to form a new company with its assets, employees, and operating permit but minus all liabilities.
On an overall basis, Nomura believes the economic conditions are suited for equity markets. The brokerage is predicting the market performance will be better in the first half of 2020 and "somewhat weaker" in the second half.
Resolution professional, Ashish Chhawchharia, had informed the bankruptcy tribunal that two new investors had shown early interest for investing in Jet. One of them is a foreign investor from West Asia and the other is an Indian-entity-backed by a UK investor.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
According to ICRA, even in a high-growth scenario, wherein the second half of FY20 sees the incremental bank credit rise to Rs 6.5-7 trn, there will still be a 40-45% year-on-year decline.
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