This payment of Rs 962 crore is inclusive of the Rs 500 crore DHFL received from exiting its entire stake in subsidiary firm Aadhar Housing Finance Ltd.
The deal size and project completion deadline were not disclosed in the announcement, but people in the know have pegged the deal at over Rs 6,000 crore, reports Aneesh Phadnis.
"Higher IPO-graded companies typically tend to operate in higher growth industries, have superior management strengths and follow good corporate governance practices," says Chetan Majithia, head, Crisil Equities.
Pressure on credit quality of Indian corporates is on the rise suggesting a decline in creditworthiness, a study by rating agency Crisil has revealed.
A digital economy can only work with uninterrupted electricity supply. So, states now face the unpleasant task of telling their citizens that electricity rates need to be hiked. Subhomoy Bhattacharjee reports.
Investors are keenly awaiting the announcement of the macroeconomic data.
Stating that COVID-19 has not yet been contained in India, the rating agency in a statement said the government stimulus package is low relative to countries with similar economic impacts from the pandemic. "The COVID-19 outbreak in India and two months of lockdown -- longer in some areas -- have led to a sudden stop in the economy. That means growth will contract sharply this fiscal year (April 2020 to March 2021)," it said. "Economic activity will face ongoing disruption over the next year as the country transitions to a post-COVID-19 world."
Khara will replace SBI Chairman Rajnish Kumar, whose three-year term comes to an end on October 7.
According to latest data, crops have been sown in around 72.13 million hectares, which is 8.90 per cent less than the same period last year.
Lifting of deposit withdrawal moratorium on March 18 could open flood gates and will require a calibrated approach along with active support and signaling from the RBI, government and investor banks.
Ninety-nine companies, which also include some unlisted ones, have more than Rs 100 crore each of minimum alternate tax credit on their books, cumulatively adding up to Rs 75,000 crore. By utilising MAT credit, many companies will be able to bring down their effective tax cost.
Crisil reaffirmed its 'AAA' rating, which reflects the highest degree of safety with regard to timely payment of financial obligations, on the bank's Upper Tier II bonds, Tier I Perpetual bonds and bonds/debentures. Crisil expects the bank's market position to remain strong despite moderating advances growth, because of the 580 new branches it is likely to add in 2009-10, and its wide presence across segments.
In spite of a severe second wave of the coronavirus pandemic, and a widespread disruption in public life therefore, India's fast-moving consumer goods (FMGC) sector seems to have emerged as one of the most resilient segments of the economy. The early numbers and estimates for the April-June quarter indicate a steady recovery in FMCG players' business, which is now set to exceed the pre-pandemic level. Amid nationwide lockdowns because of the first Covid wave, FMCG revenues had been severely affected in mid-2020.
"I don't think the only solution for us is a bank, though it could be a bank. On the other hand, if the financial system continues to grow at 20-25 per cent, there's no reason why in our current construct, we can't comfortably keep growing at that same pace," says Rajiv Lall, CEO and Managing Director, IDFC.
'The effect will be seen two-three quarters down the line.'
The roads in India is a powerful stimulant to rural employment. It will have a strong multiplier effect on the local economy, says Subir Gokarn.
RBI's draft guidelines on computation of base rate, if implemented in its current form, will significantly impact the profitability of banks.
The Securities and Exchange Board of India (Sebi) has directed Franklin Templeton MF to pay Rs 5 crore as penalty, return over Rs 450 crore collected as 22-month investment management and advisory fees, and imposed a two-year ban on launching new debt schemes for alleged irregularities in running six of its debt schemes that were shuttered last year.
The deadline for the commercial launch of the Navi Mumbai airport is set at 2021-end
Vegetable, fruit prices to be on the rise over weak supply, crop damage
Revenue from divestment has fetched Rs 40,000-50,000 crore against target of Rs 2.10 trillion.
The economy is expected to grow by 6.75-7 per cent during 2005-06 and inflation is likely to hover around 5-5.5 per cent, rating agency Crisil said on Friday.
If you have been planning to buy a house, don't postpone your purchase. Developers are offering discounts, freebies and attractive payment plans.
Banks put the airline's trademarks including Kingfisher logo and the once-famous tag-line 'Fly the Good Times' on the block
This make it the first domestic firm to sell such a long-tenure rupee debt instrument.
According to Crisil, home prices had fallen by 18 to 20 per cent in March 2009, from the highs seen in the first half of 2008, due to the global slowdown, fears of job security and slowing growth in the domestic economy, the report said. 'However, despite this drop in capital values, home buyers have adopted a 'wait and watch' policy,' the report added.
Indian economy is likely to rebound with an 8.9 per cent growth in the fiscal year beginning April 2021 after economic activity showed significant improvement in the last quarter, IHS Markit said on Friday. The National Statistical Organisation (NSO) on Thursday predicted that the economy will contract 7.7 per cent in the current financial year ending in March, the worst performance in four decades.
The pre-owned vehicles arm of the Mahindra Group plans to add 30 outlets in a few days taking the total number to 1,000.
The duo bought additional shares in pharmaceutical companies Lupin and Jubilant Life Sciences, along with Agro Tech Foods and NCC during Q2FY21
The five southern states source 10-15 per cent of their revenue from excise duty on liquor but account for nearly half of the total consumption, says a report. The financial position of these states is precarious as the coronavirus lockdown completely dried up this crucial liquidity tap for them in April.
Brent crude oil price surged 4 per cent on Friday, following tension between Iran and the US. Airlines, however, have been unable to pass on the price increase to customers due to the soft demand.
India largely exports block frozen shrimp to Vietnam for reprocessing and forward shipment to its customer countries like China, EU, Japan and USA.
Now with 13-14 million-tonne capacity, Nirma will emerge as a serious player in India's cement landscape.
Compared to equity funds, debt funds are lower risk profile and are usually suitable for investors for very short term.
The rupee is likely to strengthen to 60-61 level by this fiscal-end on expectations of improvement in current account deficit (CAD) and higher inflows from overseas investors.
Overall, the credit profiles of players will be supported by healthy balance sheets and liquidity. Prudence in capital and development expenditure, efficient working-capital management, and recent equity raising will help sustain credit metrics in FY22.
The new IIP series based on the new base year, is expected to lead to better capturing of ground data
With RIL supplying about 47 per cent of the domestic petcoke production, current dynamics are bound to change.
Lenders can now initiate recovery proceedings since the SC has lifted the standstill on asset classification, which protected stressed accounts from slipping into NPAs.
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