The CII delegation includes many eminent names.
'If businesses are focused on de-leveraging, they can hardly be investing. This is the price extracted by investment mistakes during UPA rule, and should have been foreseen. 'But Modi-I must share the blame, for muted reform of the financial sector, partisan policy in telecom, the harm done to exports by an over-priced rupee, and so on,' says T N Ninan.
One fear among regulators is that allowing side pocketing could lead to fund managers taking higher risks. Even in the US, side pocketing is not allowed in mutual funds, only in hedge funds
Unless companies press the pedal on implementation, further stock price gains might be limited, says Hamsini Karthik.
'One of the ways to do that is to ensure that NBFCs have got liquidity.' 'If we don't do that, this mood of gloom will continue.' NBFCs need to be provided with liquidity if they have to start lending.
To make sure liquid schemes reflect the underlying portfolio risks, Sebi has said all debt papers with maturity of 30 days or more to be marked to market. Earlier, fund houses didn't have to do so for securities that had less than 60-day maturity.
The government has approved 16 projects envisaging foreign investment worth Rs 1,647 crore (Rs 16.47 billion), while deferring Punj Lloyd's proposals for lack of security clearance.
From the BSE 30-share blue chip pack, 27 scrips ended with losses led by SBI and Tata Steel.
An additional factor spurring the FMP launches is MFs' desire to retain investors as many such offerings are set to mature over the next two months.
Top losers in the Sensex pack included IndusInd Bank, Yes Bank, SBI, L&T, Tata Steel, M&M, Bajaj Finance, Vedanta, Tata Motors and RIL, tumbling up to 6.97 per cent.
The ED has summoned Raj in a case pertaining to alleged irregularities related to Infrastructure Leasing and Financial Services loan to Kohinoor CTNL.
'IPOs not clicking is cause for worry,' says Sebi chairman.
Ajay Piramal bets highly on infrastructure, realty
It had entered the segment by pumping in over $290 million.
Though he loves gambling, he cautions against undue risks and says non-professional investors like the salaried class should invest through the mutual funds route and keep aside not more than 10 per cent for self-investing.
'Investors need to find out how the FMP's assets are distributed and ensure the investments are in high-quality names.'
In absolute terms, the outstanding book value of NPAs of LIC in the debt portfolio across life, pension and unit-linked funds is to the tune of Rs 32,685.39 crore at the end of December 2019.
More and more PE players are willing to test the waters now, just in case they become early entrants in a future booming business.
The broader NSE Nifty too fell over 150 points to crack below the 10,400-mark as financials, IT and energy stocks declined.
After the rationalisation and categorisation of mutual fund schemes undertaken by the Sebi in October 2017, overnight funds have emerged as a distinct category.
While the lender has Rs 17,000 crore of retail assets and land parcels in Juhu, Borivali, Worli, and Chembur in Mumbai, there may be a disconnect between the quality of DHFL's books and the value bidders ascribe to it.
A lot depends on how Srei shapes up under the new administrator and his team, which is critical for investors' interest.
Rather than focusing on profits, market should look at the inherent strength of the balance sheet whether it can withstand difficulties, he said.
Energy's exit is a cautionary tale for several foreign investors in India as close to 16 Gw of solar and wind power projects languish without any power purchase agreement, 24 Gw without transmission connectivity and around 2 Gw unilaterally cancelled by project developers.
'I suggest a cut in the GST rates and an infusion of Rs 1.2 trillion into the economy in six months.'
The highest cap for the capacity would be 2 GW and can be set up in tranches at whatever location the project developer deems fit.
Issuing guidelines for enhanced disclosures by CRAs, the watchdog has called for having a uniform Standard Operating Procedure in respect of tracking and timely recognition of default.
Finance Minister Arun Jaitley on Monday said state governments should emulate the concept of 'Gujarat International Finance Tec-City'
Several brokerages lifted their outlooks for the BSE Sensex and companies were queuing to ride the wave of political euphoria
A glance back at some of the important ups and down Indian Inc faced in 2018.
NBFCs are mainly dependent on funding their operation from their own cash flows.
Taking credit risks in shorter-tenure funds can help jack up returns considerably, boosting sales.
'When an institution believes its knowledge and capability is superior to everyone, it behaves like a frog in the well.' 'And this is precisely the cause for the mess,' says J N Gupta.
An initial reading of the guidelines indicates two factors - potential rise in borrowing cost and lower returns on investment book - could hit the spread of NBFCs.
In yet another move to close the regulatory gap between banks and shadow banks, the Reserve Bank of India (RBI) has mandated exposure limits to the non-banking finance companies, in line with commercial banks. In the large exposure framework released on Tuesday, the regulator capped aggregrate exposure of NBFCs which are in the upper layer toward one entity at 20 per cent of capital base. The limit can only be extended by another 5% with board's approval. For a particular borrower group, the cap is at 25 per cent, with additional 10 per cent if exposure is towards infrastructure.
Nomura analysts said the Reserve Bank of India and the government would need to segregate the potential solvency issue at DHFL from liquidity issues at other larger wholesale NBFCs and HFCs.
According to ICRA, even in a high-growth scenario, wherein the second half of FY20 sees the incremental bank credit rise to Rs 6.5-7 trn, there will still be a 40-45% year-on-year decline.
It's the beginning of a rate reduction cycle
From promoters losing their firms to consumers realising there are no free lunches, 2019 was a year of getting real,says Shailesh Dobhal.
'The banking sector appears to be on course to recovery,' declares the RBI governor.
