'Nothing will stop India's top three-four corporates who have become aggressive players in the agri-markets after Modi came to power from acting in concert to drive down at will the prices at which they buy from farmers.' 'These corporate houses have the wherewithal to purchase all the farm produce at low prices and store them for a long period of time.' 'Once the harvest season is over they will sell the same produce at higher prices.'
Struggling, corrupt construction industry will be challenged by the prime minster's $250-billion plan
Keki Mistry, bottom, left, vice-chairman, Housing Development Finance Corporation (HDFC), tells Joydeep Ghosh that debt fund investors could become risk-averse, leading to problems for other non-banking financial companies.
Take a call to stay put or opt our based on whether you think the company will be able to find a strategic investor, suggests Sanjay Kumar Singh.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore, the firm said in a statement. Net profit, however, fell 12.6 per cent sequentially -- breaking a six-quarter chain of quarter-on-quarter improvement.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Those looking to take advantage of current market conditions should buy only after conducting due-diligence.
Nikunj Saraf, Vice President Choice Wealth, will answers your queries.
Sankar's father Subramanian encouraged him to drop out of the schooling system at an early age and pushed him to play in the upper age groups and senior circuits.
The Enforcement Directorate (ED) on Tuesday raided a dozen locations including the head office of the Congress party-owned National Herald newspaper in New Delhi as part of an ongoing money laundering probe, officials said.
The markets regulator, Securities and Exchange Board of India (Sebi), recently introduced fresh guidelines to determine the place of a mutual fund (MF) on its riskometer tool.
With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges.
Many would have racked up debt this Diwali, using credit cards and consumer loans. Here are a few simple steps on how to fix your financial mess, says Bindisha Sarang.
The culture of freebies burdens coming generations with the huge bill for the flagrant abuse of power by preceding governments, points out Virendra Kapoor.
Salt-to-software conglomerate Tata group was among "multiple" entities who on Monday put in preliminary bids for buying the government's stake in loss-making carrier Air India.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Sebi has allowed mutual fund schemes the option of 'side-pocketing' which move will help both fund houses and investors.
After a hiatus of nearly two decades, the government's programme to privatise state-owned firms restarted with the handing over of debt-laden national carrier Air India to the Tata Group. With the new owner shelling out Rs 18,000 crore for the buyout of the 'Maharaja', this would be the highest-ever amount garnered through privatisation, and is even more than the cumulative sum mopped up through strategic sales from 1999-00 to 2003-04. The government had in October last year inked the share purchase agreement with the Tata Group for sale of national carrier Air India for Rs 18,000 crore. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
P S Jayakumar, managing director and chief executive officer, Bank of Baroda, speaks to Abhijit Lele & Hamsini Karthik about loan recoveries, sounding more confident than a year before.
Piramal Group on Thursday said the Reserve Bank is understood to have cleared the resolution plan for debt-ridden DHFL as approved by the Committee of Creditors (CoC). The CoC had approved a resolution plan submitted by a Piramal Group company, Piramal Capital and Housing Finance Limited, last month. "We understand that the RBI has approved the DHFL resolution plan from Piramal Capital and Housing Finance, submitted by the CoC," Piramal Group said in a statement. The resolution plan was approved by the CoC in its 18th meeting concluded on January 15, 2021.
"Darr to lagta hai par bhook say zyada darr lagta hai (I am scared but I fear hunger more than death)," he said as he pointed to his kids adding "back home we won't be able to find two square meals".
Bharti Airtel chairman Sunil Mittal has expressed hope that the government and regulators will step in to ensure the sector remains a viable place for continued investments and asserted that the industry requires "long overdue" support to maintain its current 3+1 structure. In the latest annual report of Airtel, Mittal said as the sector's role in the economy becomes more pervasive, its challenges loom larger. Issues such as unsustainable pricing and low returns in a highly capital-intensive environment, coupled with legacy legal issues, "have extracted their toll", Mittal observed.
Reliance Industries on Friday reported a 41.5 per cent jump in its third quarter net profit as oil, retail and telecom businesses fired on all cylinders. Net profit of Rs 18,549 crore in October-December compared with Rs 13,101 crore a year back, the company said in a stock exchange filing. Income from operations rose to Rs 1.91 lakh crore from Rs 1.28 lakh crore.
For banks to give debt requires equity from promoters, Kumar said, adding that the number of people or business houses who have that capability to invest has shrunk.
Taking credit risks in shorter-tenure funds can help jack up returns considerably, boosting sales.
At present, the EPFO is mandated to invest 20-45 per cent of its incremental funds - of around Rs 1.5 trillion - in debt-related instruments.
'In India, most funds have one or at most two platforms, but we are the only one which has four -- growth equity practice, real estate practice, a special situation and credit platform, and infrastructure.'
The Securities and Exchange Board of India does not seem to have understood the enormity of what funds have been up to. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.But MFs decided to become lenders without the legal backing to secure themselves, or the skillset to assess lending risk. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.
To make sure liquid schemes reflect the underlying portfolio risks, Sebi has said all debt papers with maturity of 30 days or more to be marked to market. Earlier, fund houses didn't have to do so for securities that had less than 60-day maturity.
Alphabet Inc's Google has paid Rs 33,737 crore for a 7.73 per cent stake in Reliance Industries Ltd's (RIL) digital subsidiary, Jio Platforms Ltd, joining the list of global investors such as Facebook, billionaire Mukesh Ambani's firm said. The transaction also marks the US technology giant's biggest-ever investment in an Indian company. With this, Jio Platforms has raised a total of Rs 1.52 lakh crore by selling nearly 33 per cent stake to 13 financial and strategic investors in just 11 weeks.
Amit Gupta, MD, Sag Infotech, answers your personal income tax queries.
FB deal puts RIL on course to be debt-free next year; Reliance Retail biggest gainer from WhatsApp, JioMart arrangement.
New law was just one step toward fixing country's fiscal and economic problems.
The ED case follows the police complaint for alleged criminal conspiracy and defrauding investors.
The breadth was neutral with 1,329 advances and 1,320 declines.
Knight Frank and Royal Institute of Chartered Surveyors in their report said that 10 million homes will be delivered by 2022 as targeted by the government.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The Reserve Bank has revoked the deposit-taking status of Dewan Housing Finance (DHFL), the first financial services firm to go for bankruptcy proceedings, and has reclassified it as a non-deposit taking housing finance company, before approving the Piramal group's bid to take over it towards the end of the resolution process. The revelation comes in the June 7 NCLT Mumbai order that has approved the Rs 35,250-crore bid for the once second largest mortage lender by Piramal Capital & Housing Finance, forcing over 65 per cent haircut on the creditors and just Re 1 to its NCD holders to whom it owes more than Rs 45,000-crore. On the 14th page of the 86-page NCLT order by HP Chaturvedi and Ravikumar Duraisamy, it says DHFL no longer is a deposit taking NBFC but a non-deposit taking one.
The acquisition of the debt-laden Binani has catapulted Birla-owned UltraTech to the top spot in India, leaving it free to turn attention to overseas market
