The Adani group, buoyed by a sharp recovery in its share prices over the past year, is set to embark on a series of roadshows this week to raise up to $4 billion (approximately Rs 33,254 crore) through equity and refinancing of older debt, according to banking sources. The roadshows, scheduled to take place in major cities, will inform investors about the group's investment plans across renewable energy, petrochemicals, and infrastructure development.
Within three trading sessions in May, foreign portfolio investors (FPIs) have pumped in Rs 9,461 crore into Indian equities. This follows net inflows worth Rs 7,936 crore in March, and Rs 11,631 crore in April. The trend, analysts said, could continue going ahead as the US Federal Reserve may soon halt its interest rate hike cycle, which will strengthen foreign fund inflows into emerging markets, including India.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
Bandhan Financial Services, which was given a banking licence on Wednesday, hopes to come up with a unique business model, with a mix of doorstep and retail banking.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
In days of smart, networked technology and no shame over collateral damage, what will blow up next -- cars, mobile phones, TV sets, refrigerators? And where?, asks Shyam G Menon.
All the global transitions are working in India's favour, giving it the potential to become a force in today's uncertain world, but one of the country's biggest challenges is inclusive growth, Tata Sons chairman N Chandrasekaran said on Monday. In his address at the JRD Tata Oration, the head of the Tata group also asserted that Artificial Intelligence (AI) is here to stay and it will be beneficial if India prepares for it. Post the cold war era of relative stability and prosperity, the world appears to have given way to unpredictable conflicts and economic uncertainty, he said, adding that the pandemic resulted in supply chain shocks of gigantic proportion.
The finance ministry is believed to have finalised the merger of Kolkata-based Industrial Investment Bank of India with Industrial Development Bank of India
Easy financing, including grant of tax exemption, being considered to provide early stage funding.
The government is contemplating changes to the Insolvency and Bankruptcy Code (IBC) to deal with environmental claims and liabilities of defaulting companies to make the law future-ready and meet climate action goals, sources told Business Standard. Currently, the IBC has various categories of claims and creditors, including those related to environmental liabilities.
It may be a 'no-go' for banking licences to large industrial houses.
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.
India's corporate sector is likely to report a slowdown in revenue growth and earnings for the July-September 2023 period (Q2FY24), according to earnings estimates by brokerages, after the country's top listed companies posted higher than expected profits for the first quarter. The combined net profit of Nifty50 companies, based on brokerage estimates, is expected to have grown by 19.6 per cent year-on-year (Y-o-Y) to Rs 1.75 trillion in Q2FY24 - a sharp deceleration from 37.6 per cent Y-o-Y growth in the combined earnings of index companies in the April-June 2023 period. According to estimates, the combined earnings in the second quarter would be down 8.8 per cent on a quarter-on-quarter (Q-o-Q) basis and the lowest in the past three quarters.
The government is working on a proposal of a mega merger of country's three leading financial institutions IDBI, IFCI and IIBI.
After a recent fall in profit, Masayoshi Son of SoftBank announced that the Japanese tech investor will look at dramatic cost-cutting. Before he does that, investments in India for calendar year 2022 (CY22) will fall radically, observed sources in the know. Last year, the company had invested around $3.2-3.5 billion in the Indian start-up ecosystem - almost 10 per cent of the total investment the sector received. For CY22, the investments may not even touch $1 billion.
In a post on X, Modi said, "Happy to have welcomed @POTUS @JoeBiden to 7, Lok Kalyan Marg. Our meeting was very productive."
Investors may have to wait a little longer for Unified Payments Interface (UPI)-based block mechanism in the secondary market even as the market regulator has set the effective launch date as January 1, 2024. Several brokerage firms said they may take a few months more to implement it. Investors will be able to register for this facility only if the stock broker has opted for the UPI block facility.
The unclaimed funds within the life insurance sector are higher from policies sold by agents as against other channels like bancassurance or a digital platform, said analysts and officials from insurance companies. Unclaimed life insurance funds refer to the proceeds of insurance policies including death or survival benefits not claimed by the beneficiary or the policyholder. Bancassurance means selling an insurance product through banks.
Wholesale price-based inflation rose to an eight-month high of 0.26 per cent in November, driven by a sharp jump in food prices, especially onion and vegetables. The WPI inflation was in the negative or deflationary zone for the past seven months since April and was at (-)0.52 per cent in October. The last positive WPI inflation was recorded in March at 1.41 per cent.
'She delivers on promises, especially on security issues which is a core concern for India.'
If the Personal Data Protection Bill gets passed in its present form, a new class of companies and entities could emerge. The sole job of these new entities would be to manage the consent for data usage of a user.Banks, healthcare firms and fintech companies, among others, fear that sharing non-personal data with the government may hurt business interests. Banks also fear the threat of data misuse.
Some lenders in talks with LIC for pvt placement
Industrial Development Bank of India chairman M Damodaran has resigned from the board following his appointment as the Securities and Exchange Board of India chief.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Phase-I of the ambitious Delhi-Mumbai Industrial Corridor project entails an investment of Rs 17,319 crore(Rs 173.19 billion) and is poised to generate 330,000 jobs.
Kv Kamath has big plans as BRICS Bank chief.
'India is an equity market with a breadth and depth of companies to invest in.'
'In times of recovery, we may see a rural-urban divide with the urban pockets affected more by COVID-19, but the MFI business model should encourage banks to handhold them in this hour of crisis,' notes Tamal Bandyopadhyay.
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