The Adani Group, which won the Dharavi Redevelopment Project from the state government last year, on Monday said it has onboarded three city planners, including Hafeez Contractor, to present a draft redevelopment plan for the largest slum cluster in Asia. In a statement, the group, which has promised to invest Rs 21,000 crore in the first phase, has roped in world famous architect Hafeez Contractor, design firm Sasaki, and consultancy firm Buro Happold as city and infrastructure planners for the project.
Rating agency Fitch on Tuesday downgraded the US government's top credit rating to AA+ from AAA, citing fiscal deterioration over the next three years and repeated debt ceiling negotiations. The development caused a flutter across equity markets, with most leading frontline global equity indices trading weak. Back home, the S&P BSE Sensex and the Nifty50 lost over 1 per cent each in intra-day deals to hit a low of 65,751.53 and 19,517.55 levels, respectively.
Bajaj Auto, India's leading two-wheeler (2W) and three-wheeler (3W) maker, is scaling up its wholly owned finance subsidiary, Bajaj Auto Credit Ltd (BACL), with an investment of more than Rs 3,000 crore planned over the next two financial years, company's managing director Rajiv Bajaj said. BACL has already started commercial operations, Bajaj recently said on the sidelines of the group's CSR identity event. According to rating agency CRISIL, BACL's operations began on January 1 after receiving its licence from the Reserve Bank of India (RBI) in August last year.
To cut its debt, promoter Kapil Wadhawan and promoter group Wadhawan Global Capitalhave resorted to measures such as sale of assets of group companies as well as securitisation of retail assets of DHFL to bring in liquidity.
'What happens in the real estate market is that once the prices go up it goes on to stay at that level.' 'It might not increase and at the same time the prices will not come down too.'
Prominent exits by promoters included a Rs 15,300 crore share sale in Indus Tower by Vodafone Plc, a Rs 9,300 crore share sale by the Tata group in Tata Consultancy Services.
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
Ambani said Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd, and another Rs 53,124.20 crore through a rights issue.
>Rohini Acharya, Lalu Yadav's daughter who donated her kidney to her father in December 2022, is on her introductory campaign trail in the constituency that has been represented by her father four times.
Here are a few quick ways that can help you become debt free faster.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
Some of the top indebted companies likely to face financial headwinds in the coming quarters include NTPC, PowerGrid, Tata Steel, Adani Power, JSW Steel, UPL, and Steel Authority of India. Together these 201 companies owed Rs 14.9 trillion to their lenders at the end of September 30, 2019, up 4.1 per cent year-on-year (YoY) during the first half of FY20.
Early retirement is not just about money and calculators. It is more about rediscovering your passions, strengthening bonds, and living a life filled with purpose, connection, and lasting happiness. It's about reclaiming your life, explains Vatsal Ramaiya.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries
From tennis love to Tudor queens, Sukanya Verma lists everything you can catch on OTT this week.
Dwaipayan Bose simplifies the whys and hows of revisiting your financial goals
Franklin Templeton Mutual Fund, which has closed six debt schemes, has said the winding-up process will be delayed in the absence of authorisation from investors and further steps will be possible only after seeking fresh approval from them. It further said that investors who do not have an e-mail ID or mobile number registered with the fund house will not be able to participate in the voting process. The date on which the voting would start has not been disclosed yet.
Ramalingam Kalirajan explains the pros and cons of both investment types.
If you are overweight on fixed-income instruments, go for ELSS, and vice versa.
By following the path of Kula Dharma as mentioned in the Bhagavad Gita, you will not only be securing your child's future but also contributing to your own early sukoon (peace and well-being), says Vatsal Ramaiya
Tactical investors should have an investment horizon of around six months to one year, long-term investors should stick around for 10 years or more.
The category average return of mid-and-small-cap funds is 95 per cent.
'Use this money to build an emergency fund if you do not have one.'
While debt funds have emerged as the flavour of the season, not all investors understand debt funds. So the best they can do is put trust in the fund manager and the fund house.
'As long as economic growth remains steady, creating jobs and generating stable incomes, the rise in home loans should not create problems.' 'If the growth trajectory changes course over the medium term and interest rates rise along with inflation, the expanding trend in home loans may not sustain.'
Regardless of market levels, invest in stocks and equity mutual funds in a staggered manner.
Most banks led by the State Bank, have or are going to declare DHFL account as NPA in the third quarter.
Republicans immediately pounced on the new debt figure to push their candidate Mitt Romney to the White House.
Shehbaz, 72, who was the consensus candidate of the Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples Party (PPP), received 201 votes, 32 more than what was required to become leader of the House in the 336-member Parliament.
Say their aggregate borrowings were "well within the norms"
Listed Mumbai developers are battling higher inventory levels.
'We are sure FY25 is going to be better...But to call out that all problems are behind us is a bit early.' 'The underlying business sentiment has not changed significantly.'
The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.
Nearly three-fourths of the debt money, as of April 30, 2019, was invested in securities with duration of less than three years.
Balanced advantage funds have the potential to earn superior risk-adjusted returns for the investor and offer a smoother investment journey.
rediffGURU Sunil Lala answers your MF-related queries.
When billionaire Warren Buffet started his first fund in 1956 with eleven investors, he invested a token amount of $100 of his own money as "skin in the game". Buffet denies it but he is credited with coming up with the term describing those running a fund risk some of their own money in it. The mutual fund (MF) industry has more than Rs 81,200 crore riding on its schemes, shows a Business Standard analysis of data on sponsor and associate contributions from the Association of Mutual Funds in India (Amfi).
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
In the face of tax blow, brokerages remain sanguine about the prospects of asset management companies (AMCs). A sharp correction in the shares of AMCs over the past three months factors in most of the negatives and turned valuations attractive, observe analysts. In its latest report, Kotak Institutional Equities (KIE) has upgraded HDFC AMC to 'add' (from 'reduce') and reprised 'add' and 'buy' ratings on the rest of the listed AMCs - Nippon, UTI, and Aditya Birla Sun Life.
Indians face COVID-19 with record debt, stalled income.
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