The Reserve Bank of India (RBI) raised the minimum capital requirement for so-called shadow banks and tightened rules on deposits and bad loans to avoid any potential risk to the economy from these rapidly growing finance firms by regulating them like traditional banks.
'But we are much better than what we all had expected and planned, and what all the prophets of doom had predicted.'
Nifty crosses 9,750-mark; Bharti Airtel, TCS, Wipro, Lupin and Coal India gained the most on BSE Sensex
Developers are cautious about the timing of launches in the near term, given the relative uncertainty in demand pick-up and logistical challenges during the lockdown. However, affordable housing projects slated for the first quarter (Q1) of 2020-21 (FY21) may get launched this quarter itself.
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Reliance, Birla Group, Airtel eye small finance banks.
Piramal Enterprises has about Rs 10,000 crore (Rs 100 billion) cash on its books.
A lump sum of Rs 100,000 has been offered under the VRS package.
The country's first ever carmaker, Hindustan Motors, is looking at a second coming. Talks are on for a joint venture with a European auto company focused on the electric vehicle (EV) space. A memorandum of understanding (MoU) has been signed and due diligence is expected to start shortly and will take 2-3 months to conclude.
Piramals are the largest investors in the Indian real estate sector after HDFC, with investments worth $3 billion already.
The IPO lane will continue to be busy in December as 10 companies have lined up initial share-sale plans worth more than Rs 10,000 crore, merchant banking sources said on Wednesday. Moreover, the initial public offerings of Star Health and Allied Insurance and Tega Industries are currently open for public subscription. This comes after 10 firms successfully concluded their initial public offerings (IPOs) in November. Among the companies that scheduled their IPOs in this month include RateGain Travel Technologies, travel and hospitality technology services provider, and Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi.
Ajay Piramal bets highly on infrastructure, realty
Companies like Brigade Group, Shriram Properties, Confident Group and Skyline Builders are in the final stages of completing the paper work of tying up these investments.
A large number of the civilian awards went to persons from the 'art' category.
Amid fears of a third wave of coronavirus pandemic and hardening of retail inflation, the Reserve Bank is likely to maintain status quo on interest rate and watch the developing macroeconomic situation for some more time before taking any decisive action on monetary policy. The RBI is scheduled to announce its bi-monthly monetary policy review on August 6 at the end of the three-day meeting -- August 4-6 -- of the Monetary Policy Committee (MPC). The RBI Governor-headed six-member MPC decides on the key policy rates.
This is the second such incident in the city in last few days.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
Led by Ajay Shriram, chairman and senior managing director, DCM Shriram, the CEO's delegation seeks to convey to their American counterparts the sense of optimism amongst Indian industry.
Kochhar retires by rotation, and being eligible, has offered herself for reappointment as director, said the broking arm in a notice for its Annual General Meeting to be held on August 30
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
'If she contests it, then these people will have to fight it in court.'
Experts explain the distinction between the rights of small and minority shareholders in public-listed and private companies.
Big conglomerates of Japan, including Mitsubishi Corporation, Sumitomo Corporation, and Mitsui Group, are looking to both build and buy commercial properties in key Indian cities.
The buzz in the IPO market continues with four companies launching their initial share sales this week to raise over Rs 14,628 crore collectively. This comes after four companies -- Devyani International, Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles-- launched their initial share-sales last week to mobilise Rs 3,614 crore. So far in the current fiscal, 16 companies have raised Rs 30,666 crore through IPOs against Rs 31,277 crore by 30 firms in the entire 2020-21. Going forward, market analysts expect the IPO environment to remain buzzing during the entire 2021-22.
According to Sebi's listing obligations and disclosure requirements, a company has to report any fraud, default by promoter or arrest of key managerial persons or promoters as it is a material event.
'This issue is related to national security because they were compromising the entire capital markets's core infrastructure by leaking confidential information.' 'What would have happened if the servers had come down?' 'Or some confidential information leaked to terrorists who could have knocked out our capital market?'
V G Siddhartha's wife has the support of the employees. But the challenges ahead of her are tough.
Biggest contribution came from Bharti group-led Satya Electoral Trust.
Metal prices from copper to aluminum and tin have shot up by about 7-32 per cent in the past three months.
The Insurance Regulatory and Development Authority (Irda) has fined 10 insurance companies, including both the insurance arms of the Bajaj Auto Group, Reliance General, United India, Iffco-Tokio, New India Assurance and Shriram Life for non-compliance with various guidelines. The violations varied from opening branch offices without seeking the regulator's permission to violation of advertisement guidelines and non-fulfilment of social sector obligations.
Five Indian-Americans have been named among the 400 richest people in the US by Forbes, a list topped by Microsoft co-founder Bill Gates for the 21st year in a row with a net worth of $81 billion.
A steady demand environment, prudent debt management and faster absorption of office space gave them an edge over others.
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
A group of women calling themselves as the 'Consortium of Pub Going Loose and Forward Women' had decided to courier a 1,000 pink chaddis to the Shriram Sena office which is protesting against the Valentine's Day celebrations. Pramod Muthalik, founder of the Sri Ram Sena and also president of the Rashtriya Hindu Sena told rediff.com that they would retort by sending back a 1,000 sarees to these women.
The voting rights with the promoter will ensure the interests of the promoter family as well as minority shareholders are protected in future, said corporate governance advocates and corporate lawyers.
ITC, Godrej Agrovet, DCM Shriram and other companies expanding in rural areas may eclipse the growth of their urban counterparts, including Reliance Fresh and the Future Group-owned Food Bazaar chain, helped by higher farm income that is spurring a boom in sales of fast moving consumer goods, consumer durables and apparel.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
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