Indiabulls Power, which is developing over 6,650 Mw from five thermal power projects by 2013, is planning to also bid for ultra mega power projects (UMPPs), besides foraying into renewable energy to grow as a major electricity producer. The company will bid for some of the coming UMPPs, after evaluating dedicated availability of coal and the market conditions, said Ranjit Gupta, chief executive officer, and Murali Subramanian, chief operating officer.
Shares of Indiabulls Real Estate fell by over 12 per cent, Indiabulls Financial Services by 11 per cent, Indiabulls Power Ltd by 11.8 per cent and Indiabulls securities by about five per cent.
The Maharashtra police has booked Indiabulls group companies, including its flagship Indiabulls Housing Finance (IBHL), for allegedly siphoning off funds and for accounting irregularities committed by the promoters and directors of the company between 2014 and 2020. A first information report was registered by the Palghar police on April 13 under various sections of Indian Penal Code dealing with cheating, fraud and criminal conspiracy. The move comes after Palghar's judicial magistrate passed an order under Section 156 (3) of the Code of Criminal Procedure (power to direct police/agency to investigate the matter), following a complaint filed by Ashutosh Kamble, a shareholder of IBHL.
Suspected Maharashtra Navnirman Sena activists on Monday attacked the office of diversified conglomerate Indiabulls in Camp area of the city, second such incident since party chief Raj Thackeray yesterday accused the company of 'usurping' water meant for farmers for its power plant in the parched district.
The aircraft costs nearly $45 million (nearly Rs 180 crore). The company owns a 12-seater Challenger 604 and a seven-seater Cessna Citation Bravo under the fixed wing operations.
Investors in many Indian companies would have a sense of deja vu after Facebook's public issue turned into a Wall Street debacle. For, over the past five years, Indian markets have been witness to many such breathlessly hyped Initial Public Offers (IPOs) which crashed in an equally spectacular way on the listing day and never recovered.
Bid date for Allahabad project postponed on fears of higher tariff quotes.
Top names in the power and infrastructure sector, including Reliance Power, Lanco Kondapalli and Spanish firm Isolux Corsan, have evinced interest in setting up two power plants in Uttar Pradesh's Allahabad district.
But he is actively pursuing greenfield steel plants in Karnataka and Jharkhand; ultimately, only one of these might come up.
Largest deal in thermal power space; Lanco to use proceeds to lower debt.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The top-100 wealth creators generated Rs 49 lakh crore during 2014-19, the highest-ever quantum of wealth added, according to Motilal Oswal's Annual Wealth Creation Study 2019. According to the study, Reliance Industries, Indiabulls Ventures and IndusInd Bank are the biggest, fastest and most-consistent wealth creators, respectively. The number of PSUs in the top-100 wealth creators is only nine, namely IOC, BPCL, HPCL, Power Grid Corporation, Petronet LNG, Indraprastha Gas, LIC Housing, Bharat Electronics and NBCC.
'Kindly advise about the following stocks. Can I hold or exit?'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The companies that have seen sharp erosion of market wealth include YES Bank, Indiabulls Housing Finance, Zee Entertainment, Vodafone Idea, and Bharat Heavy Electricals.
Protests by farmers to land acquisition notwithstanding, the SEZ juggernaut is all set to move on when the high-powered Board of Approvals takes up 37 more proposals, including two from Maharashtra, on Wednesday.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Investors sought to book profits at attractive valuations after recent run up in last few trading sessions.
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
IndiaBulls Power IPO's charged-up performance (the issue was subscribed 21.84 times) earlier this month had only one jarring note: the retail portion of the initial public offer barely scraped through, with a subscription of 1.09 times.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Nine lenders have exposure to the promoter entities and had taken listed operating companies' shares as collateral from the promoter companies.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
As yields on 10-year government bonds rose from 6.65% in April 2017 to around 7.50% now, liquidity pressures have increased the cost of funds for housing finance companies.
NTPC, Sun Pharma Coal India and Asian Paints were among top losers on BSE Sensex
'In the business of money, where you are regulated, the liability lies on the head of the acquirer.' 'It is not a good thing when you cannot spot the risks.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'It is easy to dramatise the events of today, but it is far more important to focus on the fact that we have a radically overvalued financial sector. It is a house of cards.'
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
Indians face COVID-19 with record debt, stalled income.
Infrastructure and real estate prominently feature as wealth destroyers.
More, many market gurus expect the Sensex to reach 30,000 levels by December and 40,000-45,000 in three to four years.
Eight Sensex biggies such as Reliance, L&T, BHEL, SBI and ICICI Bank are among the worst hit.
Long-term investors should consider moving into smaller stocks. Rather than try to pick stocks, it makes sense to build a diversified portfolio by exposure across midcap and small caps funds, suggests Devangshu Datta.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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