The company has kicked off sale of infrastructure assets as well as sale of a part of the promoter holding in Zee to repay loans.
State Bank of India would announce its much-awaited base rate on Tuesday, Chairman OP Bhatt said on Monday. On how much will the rate be, Bhatt said, "Not more than 8 per cent. . . 8 per cent or less."
Mundra fills the vacancy created by the retirement of KC Chakrabarty in April, two months before his five-year tenure was come to an end.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
The 2019 list shows a 37 per cent jump in brand value for the Tata group, to $19.55 billion for 2019, the highest in the top 25.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Mutual fund houses hold Rs 3,400 crore of Yes Bank's 'riskier' bonds. Reliance MF, Franklin Templeton MF and UTI MF account for bulk of these exposures.
Why doesn't anybody ask the PSU State Bank of India under RTI on how much they are spending on legal fees trying to recover money from me in the UK when I have offered 100 per cent payback in India, asked Mallya.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Judge Andrew Henshaw refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that a consortium of 13 Indian banks were entitled to recover funds amounting to nearly $1.55 billion.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
The bank will join the UIDAI, an ambitious plan to provide unique identification number to all residents of the country, in collecting biometric and demographic details of its customers as well as others.
Membership to help domestic banks access developed markets.
England batter Liam Livingstone fetched a staggering Rs 11.50 crore deal from Punjab Kings, who also roped in West Indies fast bowler Odean Smith, for Rs 6 crore, on Sunday, Day 2 of the TATA Indian Premier League 2022 Player Auction, in Bengaluru.
Publicly traded banks in India added Rs 1 trillion in bad loans for the quarter ending December 31, 2015.
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
Expect rate rise pause, amid market expectations to the contrary.
It is also felt that under the current market conditions, the building is unlikely to garner the kind of funds expected from a prime real estate at Nariman Point
While Raghunathan is a named accused in the CBI's case registered in October last year, Nedungadi had resigned recently from the post of CFO of the UB group.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Bank of Baroda said it received a notice of one day strike scheduled for February 21 by the bank employee unions.
The Reserve Bank on Friday upped the cash reserve ratio from 5 per cent to 5.75 per cent, a move expected to flush-out Rs 36,000-crore (Rs 360-billion) from the system.
According to sources close to the developments, major PSU banks -- State Bank of India, Bank of Baroda, Bank of India, and Union Bank of India -- were likely to review the deposit rates for a possible upward move.
The government-appointed Satyam board had recently said that it secured Rs 600-crore (Rs 6-billion) bank loans, which would help it fulfil its immediate fund requirements. The lender's board, which met on January 23 to take a call on the IHFL sale, had deferred the decision, citing the need for more information about prospective buyers.
Agency sources said that besides Mallya, his companies Kingfisher Airlines and United Breweries Holdings Limited have been named as accused in the FIR.
Mallya's comments came a day after country's largest lender, State Bank's Chairman O P Bhatt said that rising levels of stressed assets may push up defaults in the domestic banking system and banks need to enhance their risk management mechanisms to tackle the issue. However, BoB has a comfortable liquidity position and has its NPA levels under control, Mallya said, adding, "the bank has adequate headroom to raise capital but did not have any immediate plans to do so."
The boards of three PSU banks - Bank of Baroda, Oriental Bank of Commerce and Andhra Bank met in deference to the Finance Ministry's insistence, but quite unexpectedly they did not roll back the rate hikes announced last week.
Indian banks have started experiencing the ripples of the US subprime crisis. While ICICI Bank is provisioning an additional $70 million (around Rs 280 crore) to cover its losses on exposure to credit derivatives, Bank of Baroda on Wednesday said it will provision an additional $2.50 million (around Rs 10 crore) for its investments in Credit Linked Notes.
Home, auto and corporate loans are likely to become expensive from October, with bankers on Thursday saying that interest rates may be hiked next month in response to the Reserve Bank raising policy rates to tame inflation.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The unions term the introduction of fixed-term employment as a 'modern labour slavery system' introduced through the 'back door'.
The wider Nifty hit a low of 10,033.35 before finishing at 10,044.10, down 74.15 points or 0.73 per cent.
Leading Indian public sector banks State Bank of India, Bank of Baroda and Syndicate Bank are close to committing a part of the $3 billion bridge loan that Tata Motors has to raise to finance the acquisition of Jaguar and Land Rover from Ford.
Bankers say there is palpable fear among erring promoters that the banking system just cannot be taken for granted, and any delay in loan repayment could mean promoters losing business
The State Bank of India on Saturday hiked its benchmark prime lending rate by 0.50 per cent from 12.25 per cent to 12.75 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
A bench of Justices Arun Mishra and U U Lalit said, if home buyers are not ready to pay their outstanding amount, then the court will have to bundle up the projects.
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