But the industry's chief executives remain confident of the long-term growth potential of NBFCs in India, given their specialised lending on the asset side, last-mile reach, and a well-capitalised balance sheet. "Over the years, NBFCs have faced many crises.
Bajaj Finance was the top gainer in the Sensex pack, surging around 9 per cent, followed by IndusInd Bank, L&T, Bajaj Finserv, HDFC, SBI, ICICI Bank, HDFC Bank, ONGC and Axis Bank. On the other hand, Tech Mahindra, HCL Tech, Infosys, Nestle India, Sun Pharma and TCS closed in the red.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Bajaj Finserv was the top gainer in the Sensex pack, rallying around 7 per cent, followed by Bajaj Finance, HDFC, L&T, ICICI Bank, Sun Pharma and NTPC. On the other hand, Tech Mahindra, ITC and M&M were the laggards.
June indicates a change in trend from previous quarters in terms of how much companies are spending on employees. The worst hit sectors included steel, air transport service and automobile firms.
Lenders had filed 1,251 cases to recover Rs 24,765.5 crore. Wilful defaulters are the entities that do not pay back money despite the ability to do so. Defaulters above Rs 1 crore were considered for this exercise.
Tata AIG, ICICI Lombard and Nippon Life have evinced interest for the profit-making insurance arm of Reliance Capital (RCap), joining several prominent financial companies from India and abroad in the race for RCap's assets. The final day to submit an expression of interest (EoI) was March 25 and the bidders will now get access to the latest information about RCap before they make financial bids.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Axis Bank was the top gainer in the Sensex pack, rallying over 6 per cent, followed by HDFC, IndusInd Bank, TCS, Asian Paints, Titan, HCL Tech and ICICI Bank. On the other hand, ONGC, Bajaj Finance, NTPC, M&M and Reliance Industries were among the laggards.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
This is despite the private sector companies outperforming their public sector counterparts, reports Sachin P Mampatta.
"Patel's resignation will shake foreign and domestic trust in the RBI's autonomy and shows that a red line has been crossed."
HDFC twins were the top losers in the Sensex pack, shedding over 4 per cent, followed by ICICI Bank, Kotak Bank, Asian Paints, M&M, HUL, TCS and Maruti. NSE Nifty tanked 263.80 points to 14,631.10.
Axis Bank was the top gainer in the Sensex pack, rising around 3 per cent, followed by Sun Pharma, Reliance Industries, ONGC, HDFC, ICICI Bank, Kotak Bank and Bharti Airtel. On the other hand, Infosys, IndusInd Bank, HCL Tech, Nestle India and Tech Mahindra were among the laggards.
Mahindra and Mahindra was the top gainer in the Sensex pack, advancing over 7 per cent, followed by Bajaj Finance, Reliance Industries, Maruti, TCS, HDFC Bank and Tata Steel. On the other hand, Bajaj Auto, HDFC, Bharti Airtel and HUL were among the laggards.
Maruti was the top loser in the Sensex pack, shedding around 4 per cent, followed by Bharti Airtel, HUL, NTPC, Bajaj Finance, UltraTech Cement, ONGC and Reliance Industries. NSE Nifty declined 224.50 points to 14,324.90.
PowerGrid was the top gainer in the Sensex pack, surging over 4 per cent, followed by Bharti Airtel, Tata Steel, NTPC, HDFC Bank, UltraTech Cement and Kotak Bank. On the other hand, TCS, Nestle India, Reliance Industries and HCL Tech were among the laggards.
Kotak Bank was the top loser in the Sensex pack, shedding over 2 per cent, followed by ICICI Bank, PowerGrid, HDFC, IndusInd Bank and Axis Bank. NSE Nifty declined 45.75 points to 16,568.85.
Chanda Kochhar, who was arrested for a cash-for-loan scam on Friday, was once a powerful banker and instrumental in making ICICI Bank the country's biggest private sector lender. Kochhar, a regular feature on Forbes top global honchos lists, was arrested by the Central Bureau of Investigation (CBI) along with her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by ICICI Bank to Videocon Group companies. Kochhars were called to the agency headquarters and arrested after a brief questioning session. Her chapter at ICICI Bank ended abruptly in 2018 when the board of directors approved a request from Kochhar to seek early retirement following allegation of corruption and quid pro-quo while extending loans to the now bankrupt Videocon Industries.
Equity benchmark Sensex slumped 400 points on Wednesday tracking losses in index majors HDFC twins, Kotak Bank and TCS amid a weak trend in global markets.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
ONGC was the top loser in the Sensex pack, declining around 5 per cent, followed by NTPC, Sun Pharma, SBI, IndusInd Bank, Bajaj Auto, PowerGrid and RIL. NSE Nifty slumped 189.15 points to 14,721.30.
L&T was the top loser in the Sensex pack, shedding 1.56 per cent, followed by ICIC Bank, SBI, Kotak Bank, HDFC Bank, NTPC, Axis Bank and Bajaj Finserv. NSE Nifty slipped 19.05 points to 14,910.45.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Among the gainers, RIL was followed by Sun Pharma, PowerGrid, Bajaj Finance, Nestle India and HCL Tech. On the other hand, Titan, L&T, ONGC, HDFC Bank and ITC were among the laggards.
The companies that have seen sharp erosion of market wealth include YES Bank, Indiabulls Housing Finance, Zee Entertainment, Vodafone Idea, and Bharat Heavy Electricals.
What worked for the markets was favourable global investor sentiment and encouraging flows into the emerging markets following stimulus measures taken by central banks.
Market experts say that FIIs have been caught off-guard on their exposures to companies with high-leverage and those facing cyclical headwinds.
While the overall loan disbursements stood strong at 15 per cent YoY in Q2, pockets such as vehicle finance, loans to NBFCs, and business banking showed some weakness. A continued fall in these numbers may make it tough for AU SFB to defend its valuations under the current circumstances.
M&M was the top gainer in the Sensex pack, rallying nearly 6 per cent, followed by Bajaj Auto, Titan, Bajaj Finance, HDFC Bank and PowerGrid.
Some of the firms that have witnessed major drop in analysts' coverage include Dish TV, YES Bank, and JSW Energy.
Sudhanshu Singh, director IBBM, MM Securities, answers your mutual fund queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'At this moment, investors should look for relative value within sectors and clear visibility (third-wave-or-not) on earnings delivery.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
TCS was the top gainer in the Sensex pack, rising around 4 per cent, followed by ONGC, ICICI Bank, HDFC Bank, Dr Reddy's, HDFC and HCL Tech. NSE Nifty advanced 76.65 points to 14,581.45.
The Enforcement Directorate (ED) on Thursday said it has arrested Karvy Stock Broking Limited (KSBL) CMD C Parthasarathy and group CFO G Krishna Hari in connection with a money laundering investigation linked to alleged diversion of clients' securities of over Rs 2,873 crore. The agency produced the two-- already lodged in central jail, Bengaluru after being arrested by the police-- before a special Prevention of Money Laundering Act (PMLA) court in Hyderabad on January 20 and on January 25 it remanded them to four days of ED custody from January 27-30, it said in a statement. The ED case, filed under the criminal provisions of the PMLA, is based on multiple Telangana Police FIRs filed by the HDFC Bank, few other banks and investors alleging clients' securities were illegally diverted by Karvy Stock Broking Ltd and these were later pledged with banks and non banking financial companies (NBFCs) for loans which were later "defaulted".
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