Shares of Bajaj Finance sprinted 4.7 per cent to Rs 7,732 per share on the BSE in Thursday's (January 4) intra-day trade as the non-bank finance company's (NBFC's) December quarter business update reflected minimal impact of the Reserve Bank of India's ban on two of its lending products. The shares, eventually, ended 4.4 per cent higher at Rs 7,710 per share as against 0.69 per cent gain in the benchmark S&P BSE Sensex. The NBFC's asset under management (AUM) topped the Rs 3-trillion-mark at the end of December 2023, swelling by roughly Rs 20,700 crore (35 per cent year-on-year) to hit Rs 3.11 trillion-mark.
The one common theme across companies that have rewarded shareholders is consumption.
The earnings of India Inc hit a record high in the 2022-23 (FY23) January-March quarter (fourth quarter, or Q4), compared with their poor showing in the previous two quarters of the financial year. The rise in earnings, however, is exclusively led by banking, financial services, and insurance (BFSI) companies. A better-than-expected showing by banks and non-bank lenders in Q4FY23 more than compensated for the earnings contraction in the non-BFSI space.
Dividend payouts seem recession-proof.
For smaller MFIs, resuming operations is more difficult because they haven't got any fresh bank credit sanctioned from their lenders.
Market players said a big upmove by the market will depend on policy action by the government to revive economic growth and corporate earnings revival.
The Centre's proposal to call for governance reform in the RBI could, however, take a back seat, a source privy to the development said.
A customer wanting to buy a car would have to wait a long time for delivery.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
They are not only coming up with whacky names to grab attention but are also stretching the definition of e-commerce.
Private equity players said their research had shown that the PE share after COVID-19 could go up to 8-10 per cent.
Venture capitalists Adam Wolfensohn and Ameya Bijoor tell Anjuli Bhargava about the kind of investments and companies they are looking to invest in.
'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.'
Banks now ride on what is defined as a "banking outlet". This is a fixed-point service unit, manned by either the bank's staff or its business correspondent (BC), where all kinds of services - acceptance of deposits, encashment of cheques, cash withdrawal or lending of money - are provided for a minimum of four hours per day, for at least five days a week. Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan.
From Ranbaxy to Religare, Aashish Aryan takes you through a maze of legal cases involving Malvinder Mohan Singh and his younger brother Shivinder Mohan Singh. Both are in police custody following a complaint of fund siphoning.
The reform priorities are clear: enhance savings, improve productivity. Just 25 basis points of moving interest rate up or down would not boost investment: Former RBI Governor Y V Reddy.
Gold loans can be released online or by bank transfers.
Brokerages expect India Inc to report an upturn in earnings for the March quarter of 2022-23, after a relatively muted showing in the previous two quarters. This growth is expected to be led by banking, financial services and insurance (BFSI) companies, FMCG firms, and automobile makers. The combined net profit of the Nifty50 companies (excluding Adani Enterprises) is expected to have grown 15.6 per cent to Rs 1.77 trillion in Q4FY23, from Rs 1.53 trillion a year ago.
The same set of companies had reported 3.8 per cent annual net profit growth in the previous quarter and 7.5 per cent annual growth in the same quarter last financial year.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
The BJP MP said the guidelines for grant of licences were 'brazenly flouted'.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
'The selling in India may emerge as soon as the RBI reverses its interest rate stance.'
Nifty50 surged 145 points to close at 8,468 after hitting an intra-day high of 8,475.
The unidentified hackers had executed money transfers on two separate occasions - August 11 and August 13 - which raises the question of why pro-active measures were not taken on the first night itself
Banking and telecom will see the highest impact of this transition.
The current valuation is 38 per cent higher than the 10-year average of 22x and over 50 per cent higher than the 20-year average of around 20x.
The rupee breached the 80-mark against the dollar on Tuesday. The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India. The listed companies' revenue expenses in foreign currency or imports exceed their export revenues or revenue earnings in forex. In their latest financial year, BSE500 companies, excluding banks and non-banking finance companies and insurance (BFSI), reported combined forex expenses of Rs 12.31 trillion against forex earnings of around Rs 10 trillion.
While the crackdown is a major step in combating tax evasion and improving transparency, it might also impact the flexibility and genuine corporate structures created to achieve legitimate objectives, says Suresh Surana.
'Since the growth is not fast enough to provide jobs for the young, the fallout will be political and social,' warns T N Ninan.
Any saving on the car loan EMI can translate into major savings.
'The effect will be seen two-three quarters down the line.'
A chunk of divestment till now has come from follow-on offerings in the Centre's two ETFs, Bharat-22 and CPSE. Now, there will be initial public offerings of Mazagon Docks, rail companies RVNL and IRFC and MSTC.
Economists praise Das for his pragmatism and willingness to face challenges head on. And in doing so with the finesse of an able administrator.
Sensex rose 5.8% this year, against a 3.2% rise in Nifty; Axis Bank inclusion may blunt Sensex edge
The Aditya Birla Group announced the merger of its two holding companies, Aditya Birla Nuvo and Grasim, to make the holding structure clearer, ensure stable cash flows and unlock value in its financial services arm
Experts say foreign investor sentiment was bolstered by the US Federal Reserve's decision to go slow with interest rate hikes and hopes of political stability.
Among the stocks that have seen the largest cut by MFs, the DVR shares (shares with differential voting rights) of Tata Motors have seen a cut of 243 basis points (bps) in MFs' stake.
According to the report, financial assets of the Indian households are predominantly in the form of bank deposits, followed by life insurance - a pattern that got disrupted after note ban
What ex-IL&FS top brass got for loans? Foreign trips, private jets and chopper rides.
