Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Air India is understood be in negotiations with state-run banks to avail working capital loans at low interests.
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.
Why the recent strike could see the carrier go Air India's way.
Lines up seven OFS issues along with half a dozen IPOs for the next few months
Work on disinvesting government holdings may gather pace after the first week of August. Administrative ministries of around 15 Public Sector Undertakings have been asked to give feedback on the feasibility of coming out with initial public offers by then.
Contrary to the general impression, the revival of under performing public sector companies is not a costly exercise with Board of Reconstruction of Public Enterprises coming out with recommendations.
The survey also suggested passage of the Banking Regulation (Amendment) Bill 2005. Noting that the credit market suffers from structural rigidities, the survey said, it may have been reinforced in the recent years due to a high credit demand encouraging the banks to raise deposits at higher rates for maintaining long term liquidity.
Historically, public sector units were conceived of under the assumption that they will control the 'commanding heights' of the Indian economy, which were necessary for rapid industrial growth but where private investment was unwilling to enter.
On the Sensex chart, IndusInd Bank, SBI, Dr Reddy's, NTPC, ICICI Bank, HCL Tech and Bajaj FinServ emerged as major laggards.
The worst industrial disaster of the Northeast took away the lives of three employees of the PSU major and injured several others.
Earlier this month, the corporate affairs ministry had written to various ministries including telecom, railways and steel seeking directions for public sector units under their administrative control for exempting Satyam from submitting audited balance sheets while bidding for projects of the state-owned firms.
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.
'They are trying to make the situation bad for Indian Railways so that they can hand it over to private companies.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The decision to improve the salary structure of officers at board level and below, along with supervisory staff, was taken at the Cabinet meeting presided over by Prime Minister Manmohan Singh.
Let all the stakeholders, especially the government, remember that if the Make in India lion needs to roar and rise again, it won't happen unless India Inc rises too, points out Shekaar Subramanian.
Infrastructure, power, capital goods, PSU, healthcare, banking, oil and gas and metal stocks nosedived
India's ailing banks need immediate attention.
The Left on Tuesday accused the government of asking central public sector enterprises to raise capital from a sinking stock market and saw a game to hand over their shares to private sector at throwaway prices.
Public sector oil firms plan to set up over 4600 petrol stations and 907 LPG sale agencies in the current fiscal, Petroleum Minister Mani Shankar Aiyar said on Thursday.
Indian Oil, Bharat Petroleum and Hindustan Petroleum recorded profit on the sale of petrol and diesel, the first in three years, on the back of falling international oil prices, industry sources said. The three firms are moping up a neat Rs 11.99 per litre margin on petrol and Rs 4.13 a litre on diesel sale.
CNG price in the national capital and adjoining cities on Tuesday was hiked by Rs 0.50 per kg, while an imminent increase in petrol and diesel price has been put on wait-and-watch mode for more clarity on global oil prices. CNG price in NCT of Delhi has been increased to Rs 57.51 per kg from Rs 56.51, according to the information posted on the website of Indraprastha Gas Ltd - the firm which retails CNG and piped cooking gas in the national capital. Following the firming up of international gas rates, IGL has been raising CNG rates by up to 50 paise (Rs 0.50) per kg periodically. Prices have gone up by about Rs 4 per kg this year alone.
An investment banker handling the PSU issues said, "When employees pick application forms, these typically have stamps of brokers. But there was no clarity who will bear the cost. Now with this provision, government will pay 25 bps. It is lesser than retail because there is often no marketing effort from the broker, as a lot of it is done by the company itself."
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The Planning Commission will finalise in a couple of months a draft on an integrated energy policy, which will include its views on merger of oil public sector undertakings.
The government is likely to infuse additional capital of Rs 20,000 crore in the public sector banks next financial year to meet Basel III global capital risk norms.
Punjab National Bank has the largest share.
