Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
So far in September, the S&P BSE Small-cap index has gained nearly 3 per cent as compared to a modest 0.2 per cent dip in the S&P BSE Sensex.
The S&P BSE Sensex ended up 129 points at 26,843 and the Nifty50 ended up 39 points at 8,220.
'MFs acted as reckless lenders and not as prudent investors.' 'Clearly, how debt funds are being run is a systemic issue,' warns Debashis Basu.
Analysts expect the indices to dip further if the global macros do not stabilise
Global cues lift Sensex 364 points; Nifty ends above 8,650.
'There is too much news about film stars. There is too much fawning over wealth and power. There is a grey area between seriousness and triviality in news reporting now.' 'Mumbai is still a magnet. All the politicians have property in Mumbai. Politicians are the biggest racketeers here.' Olga Tellis, the legendary reporter who completed 50 years in journalism, tells A Ganesh Nadar/Rediff.com about her life and experiences.
Arun Jaitley had a tough fiscal hill to climb.
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
Private lenders were among the top losers along with RIL.
Dabhol's assets will be demerged into the power plant and the LNG terminal.
The Securities and Exchange Board of India does not seem to have understood the enormity of what funds have been up to. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.But MFs decided to become lenders without the legal backing to secure themselves, or the skillset to assess lending risk. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.
Interoperability with other insurance companies - apart from banks, medical centres, among others - would be the eventual goal
About 12 other lenders with combined exposure of Rs 1,200 crore likely to follow
'We aren't so unreasonable as to demand that he should have fully reversed Indira Gandhi's worst economic legacy, bank nationalisation.' 'But he could have made a beginning by selling off the two most stressed small public sector banks, and then announced that each year for the next 10, one government bank with the most messed-up balance sheet will be sold.' 'It would have electrified the markets, shocked his other banks into better behaviour, and marked his name among the great reformers,' argues Shekhar Gupta.
However, it is understood that the liquor baron has suggested his legal team can help ED in taking the probe forward.
Nifty September F&O series ended lower after seven consecutive positive series with Metal Index falling the most
