A lot of mid and small-caps are in the bubble zone and command high valuation and have corrected sharply.
Experts say investors need not tinker with their debt portfolio as shifting won't be tax-efficient.
Reliance Capital has two credit verticals -- Reliance Commercial Finance and Reliance Home Finance -- with a cumulative asset of over Rs 25,000 crore.
Superseding the boards of two non-banking financial companies (NBFCs) in the Srei group will neither create liquidity challenges for sound entities, nor build systemic crises because the markets have factored in the problems with the Kolkata-based firms. Such regulatory steps will help in making the NBFC space more robust, bankers and market experts said. The action should have begun earlier because the Reserve Bank of India (RBI) had done a special audit last financial year and asked the group to make provisions for assets considered stressed, analysts said.
This is not her first stint in North Block or in leading a major economic ministry. She started Prime Minister Narendra Modi's first term as minister of state for finance, was made the commerce minister, and then became the defence minister.
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
Remember, pension from EPS will be taxable at slab rate, reducing the post-tax income for people who remain in the higher tax brackets after retirement.
Vedanta group chairman, Anil Agarwal, 69, is well known for his business journey from a scrap dealer from Bihar to a London-based globe-girdling metal and oil and gas conglomerate with revenues of $19 billion. Now his abilities to keep his group from over-leveraging itself will be put to the test. Over the years, Agarwal, now based in London, set up the conglomerate via acquiring iron ore producer Sesa Goa, Cairn's oil producing assets in India, and Electrosteel Steel.
As the clean-up has taken hold, loan growth slipped to 10.7 per cent in the last fiscal
S&P Global Ratings on Thursday upgraded ratings of five companies of the Tata group including Tata Steel, Tata Motors and Jaguar Land Rover (JLR) reflecting its reassessment of the ongoing influence and the potential for 'extraordinary financial support' from the parent, Tata Sons. Under the revised exercise, S&P Global said ratings on Tata Steel Ltd and its 100 per cent-owned financing subsidiary ABJA Investment Co Pte Ltd have been upgraded to 'BBB-' from 'BB' with stable outlook. Similarly, Tata Motors Ltd and its wholly-owned arm TML Holdings Pte Ltd have been upgraded to 'BB-' from 'B' ratings with stable outlook.
Experts say a combination of improving asset quality and NBFCs' weak balance-sheets bodes well for both corporate and retail banks.
To invest $1 bn in realty sector, mulls new funds; has done exits worth Rs 8,000 crore, says founder
Paytm will look to raise up to $1.5 billion as part of primary share sale, leading up to its initial public offering (IPO), which is planned for November, a person familiar with the developments said. The company is looking to file its draft red herring prospectus (DRHP) by July, according to sources. According to this person, though the details of the listing are being worked out, Paytm may take the qualified institutional buyer (QIB) route to list and issue fresh equity to raise funds.
India's macro finances are getting into good shape.
This is part of an 'aggressive and decisive set of action' to shore up the company.
Embattled billionaire Gautam Adani on Thursday spoke publicly for the first time since his ports-to-energy conglomerate publicly battled a short seller's accusation of stock manipulation and accounting fraud, saying the abrupt move to withdraw a fully-subscribed share sale at his flagship firm was due to market volatility. His group continued to lose on the stock market, with the cumulative rout now nearing $108 billion in a week -- one of the biggest wipeouts in India's history. "After a fully subscribed follow-on public offering (of Adani Enterprises Ltd), yesterday's decision of its withdrawal would have surprised many.
Vishal Sikka who was made vice-chairman till his successor was appointed, also quit the board with immediate effect.
Tax Guru Anil Rego answers your personal income tax queries.
The bank, which has suffered reverses following a massive spike in dud assets and also the dismissal of its chief executive Chanda Kochhar over governance issues, however, hinted that the worse is behind.
'Kindling the private sector's animal spirits is more important than focusing on how government can give jobs on its own.'
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
Barclays is not alone in trying to decide the best size and shape of its investment bank in a changed regulatory landscape.
Morgan Stanley removed banking stocks from its model portfolio when it slashed its weighting on the sector by 500 basis points. Several foreign brokerages, such as UBS, JP Morgan, and Credit Suisse, of late, have also become less optimistic about banking stocks.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
The concept of gold as an asset capable of getting anytime money is evaporating.
It is high time the Indian government signalled discomfort with the UK providing refuge to those accused of financial crimes in India, states Jaimini Bhagwati.
'The potential headwind is that the Indian economy is likely to see a slowdown in growth rates over the next two years.'
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.
US bank Citigroup on Wednesday announced the sale of its Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans, to private lender Axis Bank for Rs 12,325 crore, as part of its plans to exit retail operations in 13 markets.
As many as 26 premises are being searched in these cities by the federal agency under the criminal sections of the Prevention of Money Laundering Act, they said.
Kolkata tops the list with 617 cancellations, New Delhi stands second with 203, followed by Mumbai at 190.
Missing the deadline for filing Income Tax returns can lead to consequences.
Why do we need a bad bank, owned by the banks themselves when there are at least 28 ARCs around, asks Tamal Bandyopadhyay.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
Tax Guru Anil Rego answers your personal income tax queries.
'A law firm checked credentials of Karan Ajit Judge and Nouam'
The move will have cascading effects for lot of related sectors
Banks are in need of government support to manage the stressed assets
All four societies were under common management of the Sahara group and had collectively garnered Rs 86,673 crore, including more than Rs 47,000 crore collected by Sahara Credit Cooperative Society Ltd from nearly 4 crore depositors.
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