Cleaner balance sheets, regulatory support and strong growth prospects helped Indian private banks attract over $6 billion in foreign capital, with more deals expected in 2026.
IDFC is merging its Portfolio Management Services business with the newly-acquired Standard Chartered Mutual Fund to sell MF products targeting high net worth individuals. The company is also planning products that offer infrastructure as an asset to investors.
Sanjay Malhotra has made structural changes to banking regulation to bring down costs and increase efficiency. Plus, he kicked off a benign interest regime. But there are challenges ahead.
Private-sector lender Federal Bank on Friday announced that New York-based Blackstone will invest Rs 6,196.51 crore in the bank through its affiliate Asia II Topco XIII Pte Ltd via a preferential issue on a private placement basis.
But selectively, with regulatory scrutiny and special approval, points out Tamal Bandyopadhyay.
Exodus of top managers an unintended side effect of roaring MF industry
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Most infra projects have hit a road block due to high cost of funds.
Vijay Kelkar, former advisor to the Union finance minister, has joined the board of Tata Chemicals Ltd as director.
According to Cushman & Wakefield, the total value of investments in the residential segment for 2013 was recorded at Rs 4,050 crore ($650 million).
According to Cushman & Wakefield, the total value of investments in the residential segment for 2013 was recorded at Rs 4,050 crore ($650 million).
Gautam Adani-owned Adani Ports and Special Economic Zone (APSEZ) will replace IT major Wipro in the 30-share BSE Sensex from June 24, according to an official announcement on Friday. This marks the first inclusion of any Adani Group firm in Sensex. The group has 10 listed firms with a combined market valuation surpassing Rs 17 lakh crore.
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
Wedding planner WedMeGood estimates that the average wedding budget has surged to Rs 36.5 lakh this year, with destination weddings averaging Rs 51 lakh.
'Challenge is basically near-term growth as the outlook has turned a bit adverse.'
Since infrastructure projects have long gestation periods, investors need to enter them with a long horizon of at least 10 years.
Sebi is reportedly examining the matter internally and has reached out to the fund house on the matter.
Enter multi-cap funds only if you can stay invested for the long term.
Infrastructure Development Finance Company has bagged Standard Chartered's asset management business in India for a total consideration of $205 million (around Rs 820 crore) in an all-cash deal. This deal, like the ill-fated UBS' bid last year, however, does not include StanChart's mutual fund distribution business, which the London-based bank will continue to pursue in India.
TMFs invest in a public index, so investors know beforehand which instruments the fund will invest in.
V Vaidyanathan, former executive director at ICICI Bank who turned entrepreneur to run Capital First, an NBFC that caters to smaller businesses, tells Pavan Lall in an exclusive interview that his new entity post the merger of Capital First and IDFC Bank which will be called IDFC First will launch by January and cater to a new India with value services.
Fundraising through qualified institutional placement (QIP) has revived this year, led by commercial banks, after a lacklustre 2022. According to data compiled by Prime Database, Indian companies have raised Rs 53,070 crore in 2023 so far, of which seven banks - Union Bank of India, Indian Bank, Bank of India, Federal Bank, IDFC First Bank, Bank of Maharashtra, and J&K Bank - account for Rs 21,290 crore, or about 40 per cent. If other financial institutions are included, the figure surges to Rs 26,690 crore.
New technologies such as block chain are throwing up new opportunities; so the axe is bound to fall on those who are still stuck in the past and not reskilling themselves, says Shyamal Majumdar.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
'Our unsecured loan is not exactly unsecured. It is backed by cash flow of customers.'
They are making switch to the high-growth alternative investments fund industry, reports Pavan Burugula.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
And there have been months when flows have exceeded $3 billion.
Only NIIF has stayed the course as a viable infrastructure financing institution.
While mid-cap and small-cap funds have given category average returns of 73.3 per cent and 89.8 per cent respectively over the past year, large-cap funds' returns have been lower at 53.9 per cent, points out Sarbajeet K Sen.
In last few years, a number of global players have exited the Indian mutual fund business.
'Money that came into mutual funds near the previous peaks -- the second half of 2017 and 2018 -- has in most cases experienced unflattering returns.' 'A large proportion of redemptions could be such inflows exiting when the market recovered sharply from July 2020 onwards.'
Though the sum was nowhere close to the big-ticket monthly purchases seen during the 2004-2008 bull run, it is significant, as it confirms the reversal of a selling spree that began in September 2013.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
Global investment firm Blackstone-sponsored Nexus Select Trust has filed the draft paper with market regulator Sebi to launch India's first public issue of retail REIT to raise around $500 million (about Rs 4,000 crore), sources said. Nexus Select Trust has a portfolio of 17 operational shopping malls across 14 major cities, covering about 10 million square feet of area valued at around $3 billion. As per the sources, Nexus Select Trust has on Thursday filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) and is looking to hit the capital market with India's first retail REIT (Real Estate Investment Trust) public issue in the first half of the 2023 calendar year.
'The market movement will be largely driven by earnings growth.'
Investors can sell their entire equity and move to debt when stocks get expensive
The coming years could be exciting for Bandhan Bank, IDBI Bank, IDFC First Bank, Federal Bank, and CSB Bank.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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