T S Santhanam, founder and chairman of Sundaram Finance Ltd and vice-chairman of TVS Group of companies, died in Chennai on Friday morning, company sources said.
The last time these two indexes recorded a negative performance on a calendar year basis was in CY19.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
While rising interest rates and tighter liquidity are giving negative signals for the financial sector, increasing economic activity could mean higher business volumes for lenders. Liquidity in the banking system has moved from Rs 8 trillion surplus into a deficit of Rs 33,000 crore over the 2022 calendar year. By the end of November, bank credit had grown 17.5 per cent YoY (year-on-year).
Radhakishan S Damani, investor and promoter of the D-Mart supermarket chain, has broken into the elite club of the top 100 global billionaires. Damani, who grew up in a single-room apartment in Mumbai, is now ranked 98th on the Bloomberg Billionaires Index with $19.2 billion as his net worth. The index is a daily ranking of the world's richest people. The other Indians on the top 100 rich list ahead of Damani are Mukesh Ambani, Gautam Adani, Azim Premji, Shiv Nadar, and Lakshmi Mittal.
A lot depends on how Srei shapes up under the new administrator and his team, which is critical for investors' interest.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
In the backdrop of Finance Minister Pranab Mukherji offering banking licences to NBFCs (Non-Banking Financial Companies), rediff.com spoke to T T Srinivasaraghavan, managing director, Sundaram Finance Ltd, the oldest NBFC in the country (founded in 1954).
Sundaram Business Services, a wholly owned subsidiary of Sundaram Finance, has picked up 74 per cent equity stake in the Chennai-based business process outsourcing firm Professional Management Consultants for an undisclosed amount.
Sundaram Business Services the BPO arm of Sundaram Finance Ltd, plans to hire over 200 people this year.
Ramesh Shrichand Damani says the best way to tackle the market in the near term is to remain invested.
Ramesh Shrichand Damani feels that steady retail buying could provide a strong, broad-based boost to the Indian stock markets.
If you have an active trading account or have consumer loans or thinking of taking out a loan, consider investing in NBFCs, says Devangshu Datta
These investors are not only betting on little-known stocks, but also sectors that the market participants are not paying much heed to. Some of these stocks can be potential multi-baggers, while others may not live up to the expectations of these stock-pickers, says Jash Kriplani.
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