'Had there been no war, maybe, we would come out with a 7.5 per cent stake sale.' 'At this point in time, a 3.5 per cent stake sale looked good.'
Confronted with competition, state-run logistics companies are opting for joint ventures among themselves and with the private sector.
PSU banks must be privatised, say experts.
Public sector banks want to pass on the increasing cost of funds to borrowers across the board, but are unwilling to take the plunge right away.
Invest 5 to 10 per cent in a banking sector fund. Ensure that mutual fund's portfolio includes all three players -- private sector banks, public sector banks and NBFCs.
The meeting with the top officials of public sector banks is scheduled for March 5, a senior finance ministry official told PTI.
ONGC was the top gainer in the Sensex pack, rallying around 6 per cent, followed by NTPC, Tata Steel, ICICI Bank, ITC, Titan and Bajaj Auto. On the other hand, Axis Bank, M&M, Tech Mahindra, Asian Paints and Bajaj Finserv were among the laggards.
India may soon see a new set of oil barons with lesser-known companies venturing into crude oil and natural gas production. These new kids on the block have come up through a mix of entrepreneurial grit and backing from oil industry veterans. Nippon Power, South Asia Consultancy, PFH (Poddar Family Holdings) Resources and Chennai-based Adbhoot Estates could be the first ones to start production from blocks awarded during the first round of Discovered Small Field (DSF-1) auctions. Adbhoot is in a 50:50 joint venture with the Bombay Stock Exchange-listed Hindustan Oil Exploration Company that has some five oil producing assets and over 10 blocks across the country.
A total of 180 NSE-listed companies have not appointed a woman director.
Transcript of the weekly market chat on rediff on Tuesday.
Earlier opposing the government's decision to disinvest 10 per cent of its equity in Neyveli Lignite Corporation, the Dravida Munnetra Kazhagam had threatened to pull out of the UPA government.
Petroleum secretary RS Pandey said the ministry explained the revenue losses that state run companies were incurring on sale of petrol, diesel, domestic LPG and kerosene.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Officers of oil PSUs have threatened to go on an indefinite strike from May 31 if their demand for higher wages are not met.
The entire basket is likely to suffer for sometime and offer lucrative short positions.
The government has said that public sector banks have asked for much more capital than it can give.
The Budget, to be presented on February 1, is likely to be less worried about fiscal deficit and will be focused more on nursing the fragile growth, according to a Wall Street brokerage report. Bank of America Securities India expects the budget to peg "fiscal deficit at a high 5 per cent of GDP for FY22 and 7.2 per cent for FY21, as it is likely to step up capex, recap public sector banks, push asset sales to break government monopolies, offer sops for real estate, tax cuts for lower income groups and creation of a bad bank". Its house economists expect these spends to be funded by debt and partly by imposing a cess on high income groups and also by some non-fiscal measures like tapping the central bank's revaluation reserves and bank recapitalisation and infra bonds.
Public sector banks, including the country's largest lender State Bank of India (SBI), have come out with a templated approach for restructuring retail and small business loans of up to Rs 25 crore under the Reserve Bank of India's (RBI) Covid restructuring package 2.0. They have also come out with standardised products to make funds available to business entities for improving healthcare infrastructure and to individuals for meeting Covid treatment expenses. Business loans have been divided into three categories.
Today, banks are being asked to discover niche strengths and focus on them
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
On the Sensex chart, IndusInd Bank, SBI, Dr Reddy's, NTPC, ICICI Bank, HCL Tech and Bajaj FinServ emerged as major laggards.
Public banks face slowdown heat.
The government may delay Rs 14,000 crore (Rs 140 billion) fund infusion in the public sector banks in view of volatile market conditions.
Divestment in major state-run firms is set to perk up the IPO space, with about six PSUs including Air India, BSNL, Oil India and NHPC, gearing up to sell equity sale in the primary market.
Public sector banks may be allowed to recruit talented middle-level management executives of other banks at an attractive pay package so as to improve their productivity.
Delhi International Airport Ltd, the five-company consortium led by Bangalore-based infrastructure conglomerate GMR Group that is upgrading Delhi airport, has managed to raise over Rs 1,000 crore (10 billion) to meet its financial obligations for the Rs 8,890-crore (80 billion) project.
In a move that is likely to attract political controversy, the committee on financial sector assessment has recommended that the banking sector should be gradually opened to foreign players and that the government lower its shareholding in public sector banks below 51 per cent and allow state-owned players to merge if the Centre's stake cannot go below the prescribed lower limit.
The worst industrial disaster of the Northeast took away the lives of three employees of the PSU major and injured several others.
The 44-player industry logged assets under management of Rs 26.33 lakh crore in October-end, as compared to Rs 27.04 lakh crore by November end, representing a growth of 3 per cent. Among debt-oriented schemes, overnight funds received flows worth about Rs 20,650 crore, the highest among the fixed-income segment last month.
The minister said RBI maintains a list of non-suit filed borrowers of banks and financial institutions, while CIBIL had a database on suit-filed accounts of Rs 1 crore (Rs 10 million) and above.
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