Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
Bandhan Financial Services, the first microfinance institution in the country to win a bank licence, is also one of the youngest entities to be allowed to enter the banking space.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
India's largest cement firm, Ultratech Cement, has joined the race to acquire the Holcim stake in Ambuja Cements and its subsidiary, ACC. UltraTech - part of the Aditya Birla Group - submitted a non-binding bid on Wednesday. Swiss multinational Holcim, which manufactures building material, is exiting India by selling its 63.19% stake in Ambuja Cements. According to banking sources, UltraTech has submitted a plan to Holcim, outlining divestiture details that would meet the norms set by anti-trust body Competition Commission of India.
Though Google's investment is minuscule and will not move the needle, it will attract other investors to the company and be a morale booster. Pursuing Vodafone Idea would potentially pit Google against Facebook and an increasingly dominant Jio.
"When we are building businesses with a long-term view, we are less concerned about short-term impacts. The basic growth in India, the high savings rate and low penetration of financial products suggest there is a huge yet-to-be-tapped opportunity. We believe this is a good time to be building businesses to tap that potential," says Ajay Srinivasan, CEO, Aditya Birla Group's Financial Services.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
After nearly four years of underwhelming performances in equity schemes, Aditya Birla Sun Life Mutual Fund (ABSL MF) is experiencing a revival. During the first quarter of the 2023-24 financial year (Q1FY24), the fund house arrested its declining market share, bolstered by stronger equity fund results and subsequent ratings upgrades. Mahesh Patil, the chief investment officer, attributes this resurgence to changes in the fund management team and adjustments to investment strategies.
Four years after buying Novelis, a company three times its size, Hindalco is now banking on the Atlanta (US)-headquartered aluminium rolling and recycling major to fund its Rs 23,000-crore expansion plan in India.
Chief executive officers (CEOs) across sectors have expressed intentions to expand capacities, expecting the government's target to invest a record Rs 11.11 trillion on infrastructure development will act as a catalyst for a jump in consumer demand. "With the government planning a capex of Rs 11.11 trillion, private sector investment will come in a big way. Companies will be preparing for it right from today," H M Bangur, chairman of Shree Cement, told Business Standard. For the past few years, the investment scene in India has been dominated by government capital expenditures; private investments in the manufacturing sector have remained muted.
Wondering if you did the right thing with your mutual fund investments?
rediffGURU Ulhas Joshi answers your mutual fund queries.
The post-Covid pandemic boom in corporate revenues appeared to have faded away in 2023-24. Yet, companies have reported a sharp recovery in their profits in FY24, driven by high margins. Their combined net sales, including gross interest income for lenders, rose by a modest 4.8 per cent year-on-year (Y-o-Y) in FY24.
Three-four funds have recently collected money from Indian HNIs, with an average ticket size of anywhere between Rs. 50 lakh to Rs. 1 crore.
Protests following the arrest of Maharashtra Navnirman Sena chief Raj Thackeray on Tuesday crippled retail businesses in and around Mumbai, the commercial capital of the country
Transcript of the chat with Sumant Singa, chief financial officer of the Aditya Birla Group.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Aditya Birla group flagship firm Hindalco Industries has decided to trim its overseas operations and is restructuring its capital expenditure in India in an effort to stabilise operations. As part of this overall plan, Novelis, which Hindalco acquired for $6 billion in 2007, is closing its sheet mill at Rogerstone in the UK, involving 440 job losses.
'The problem is that the bubble may not only be in valuations, but also in investors' minds.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Promoter shareholders -- Vodafone Group and Aditya Birla Group -- have reiterated to the board that they intend to contribute up to Rs 11,000 crore and up to Rs 7,250 crore, respectively, amounting to a total of Rs 18,250 crore, as part of the Rs 25,000-crore rights issue.
The fierce litigious fight for little-known Birla Corporation marked the first major controversy for this storied and reserved business family.
Novelis is expected to come out with its March quarter earnings on Friday and a decision on its rating will follow soon after.
Bank shares were the top losers along with index heavyweight RIL
The Aditya Birla group has slammed rating firm Moody's for placing Novelis, the group's aluminium products subsidiary, in line for a possible downgrade to default.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Micky Jagtiani, owner of Landmark, the unlisted Dubai-based retail chain, has entered the list of 10 richest Indians compiled by Bloomberg.
Wondering if mutual fund investments can earn you enough money for your retirement and child's marriage? Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
Batting legend Rahul Dravid has termed his current stint as coach of India Under-19 and India 'A' cricket teams, as well as his mentorship of young athletes in Olympic sports as "exciting" and "fun".
The Department of Telecommunications (DoT) has initiated discussions with banks to address financial stress in the telecom sector, particularly Vodafone Idea Ltd (VIL) that urgently requires fund infusion to stay afloat. There was a meeting of DOT officials and senior bankers on Friday on the issue of Vodafone, sources said, adding that banks have been asked to look for a solution within the prudential guidelines. According to sources, senior officials from the country's biggest lenders State Bank of India and Bank of Baroda were also present among others in the meeting. More such meetings are expected to take place in the coming days, they said.
The Reserve Bank of India's (RBI's) latest order on unsecured loans is set to hit the banking sector's growth in the near-term, cautioned analysts, as they see banks slowing down on aggressive retail lending. Besides, cost of funds for non-banking finance companies (NBFC) is expected to inch up as banks will pass on higher capital charge to NBFCs. "We believe the fallout of the RBI action will be mainly on growth, given the rising dependence on unsecured retail loans and lending to NBFCs for growth.
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Reliance, Birla Group, Airtel eye small finance banks.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Investors must adopt a balanced approach, incorporating both styles in their portfolios.
Highly-rated finance firms and housing finance companies are expected to benefit from the absence of Housing Development Finance Corp (HDFC) from the bond market once it merges with the HDFC Bank in early FY24. Post merger, the bond market is expected to become less crowded, which will ease fund raising conditions for other players in the field. It may perhaps also compress the spread for debt instruments floated by housing finance companies (HFCs) over 10-year government bonds, subject to demand and supply conditions.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Trinamool Congress is the second highest recipient of political donations through electoral bonds.
