Shriram Group and US-based TPG Capital, the global buyout arm of the leading global private equity investment firm, announced a definitive agreement in which TPG will invest up to $120 million (Rs 530 crore) to acquire a stake of up to 49 per cent in Shriram Retail Holdings Private Limited, the holding company of Shriram City Union Finance Limited.
The tie-up would focus on financing of entry level cars from Maruti portfolio, which include the M800, Omni and Alto models, the company said. "Maruti Suzuki is keen to expand its presence in rural and semi urban markets. We have the right products and an excellent network across the country to support it. However, there is still lot to do in the direction of finance availability especially beyond metro towns," said MSI Chief General Manager (Sales) R S Kalsi.
The gig economy market is expected to grow at a compound annual growth rate (CAGR) of 17 per cent to reach a gross volume of $455 billion by the end of 2024, according to a white paper by The Forum for Progressive Gig Workers. Estimates suggest the gig economy has the potential to create 90 million jobs and add 1.25 per cent to India's GDP (gross domestic product) over time.
The Reserve Bank of India's (RBI's) latest order on unsecured loans is set to hit the banking sector's growth in the near-term, cautioned analysts, as they see banks slowing down on aggressive retail lending. Besides, cost of funds for non-banking finance companies (NBFC) is expected to inch up as banks will pass on higher capital charge to NBFCs. "We believe the fallout of the RBI action will be mainly on growth, given the rising dependence on unsecured retail loans and lending to NBFCs for growth.
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TPG was one of the first global private equity firms to enter Asia, opening a Shanghai office in 1994.
Grant Thornton reports says total value of deals in 2013 crosses $8 bn, up 34% from the year-ago period, momentum likely to continue
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
market rally, especially in mid-caps, has also been driven by a pick-up in the monsoon and the government's resolve to get the goods and services tax (GST) Bill cleared in the recent session of Parliament.
Gold loan is currently the fastest-growing loan category (among the various types disbursed to individuals). On February 26, 2021, the outstanding loan against gold jewellery stood at Rs 56,596 crore. By February 25, 2022, it had risen to Rs 71,408 crore, a year-on-year growth of 26.2 per cent, according to the Reserve Bank of India's (RBI's) data. Several factors are driving the demand for gold loans.
The mid-cap universe - comprising firms that rank 101-250 in terms of m-cap - could see as many as 17 new stocks move out. Similarly, over half a dozen stocks could exit the large-cap universe, which is defined as the top 100 entities in terms of m-cap.
Ajay Piramal bets highly on infrastructure, realty
Real estate will prosper, small developers won't.
Quite a few large- and mid-cap stocks are yet to recover from the note ban, pharma, banking and rural demand-based industries among laggards.
Nifty crosses 9,750-mark; Bharti Airtel, TCS, Wipro, Lupin and Coal India gained the most on BSE Sensex
On November 12, 2021, the Reserve Bank of India (RBI) decided to ring in uniformity in asset classification and income recognition across all lending institutions. Shadow banks, or non-banking financial companies (NBFCs), like commercial banks, are to test non-performing assets (NPAs) on a daily basis and upgrade them to "standard assets" only when interest and principal arrears are settled by borrowers. This is going to create all manner of headaches for shadow banks and their clientele. Says Y S Chakravarti, managing director and chief executive officer (CEO), Shriram City Union Finance: "NPA levels will go up, especially of small borrowers.
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?
The S&P BSE Sensex has rallied about 28 per cent in 2014, after formation of a stable government at the Centre.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'But we are much better than what we all had expected and planned, and what all the prophets of doom had predicted.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Sell it to the company's shares during the next year.
A lump sum of Rs 100,000 has been offered under the VRS package.
From Dabur to HUL, here are 10 stocks with significant rural exposure in the auto, agri-chemical and fast moving consumer goods sectors, which should see an uptick in sales growth.
Mumbai police has launched an initiative to raise awareness among the citizens about allowing swift plying of ambulances through traffic snarls so that they proceed to hospital without any hassles and patients promptly get medical aid.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Analysts mostly prefer domestic plays beside select films with foreign exposure.
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