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.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
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.
The last time these two indexes recorded a negative performance on a calendar year basis was in CY19.
Excess earnings of unlisted companies over and above their interest costs are at a record level. The interest-coverage ratio of 2.94 is the highest going back to 1990-91, according to numbers from the Centre for Monitoring Indian Economy (CMIE). The ratio measures earnings relative to every rupee to be paid as interest on outstanding debt.
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.
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).
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).
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.
A lot depends on how Srei shapes up under the new administrator and his team, which is critical for investors' interest.
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.
The TVS family has been engaged, for more than a century, in a diverse range of businesses through various entities in which the branches of the TVS family have invested in or through T V Sundaram Iyengar & Sons, Sundaram Industries, and Southern Roadways - collectively referred to as the TVS Holding Companies.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
The restructuring, which will involve nine listed companies, including TVS Motor, Sundaram Clayton, Sundram Fasteners, TVS Electronics and TVS Srichakra, among others, will give each family group complete ownership of businesses they manage while scrapping the holding company.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
L&T Housing Finance on Thursday announced selling L&T Investment Management (LTIM) to HSBC Asset Management (India) at $425 million. LTIM is the investment manager of the mutual fund business of L&T. The divestment of the mutual fund business is in line with the strategic objective of L&T Finance Holdings of unlocking value from its subsidiaries to strengthen its balance sheet, it stated in a press release. The data from the Association of Mutual Funds in India (Amfi) shows L&T Mutual Fund (MF) has average assets under management (AAUM) worth Rs 78,273.80 crore, while HSBC MF has AAUM of Rs 11,314.32 crore as in the July-September quarter.
As part of the exercise, each family will get complete ownership of the businesses it manages while scrapping the holding company.
Ujjivan Small Finance Bank's initial public offering attracted heavy investor demand on the final day of bidding on Wednesday as the issue was subscribed a whopping 126.36 times.
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
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
A recent data released by the Central Statistics Office (CSO) confirm that both the manufacturing and mining sectors shrunk in 2013-14 with fall in output.
'We have about Rs 4 lakh crore debt on a state budget of about Rs 1.5 lakh crore.' 'We are in a debt two-and-a-half times our annual budget,' says the banker who would have been Tamil Nadu's finance minister had the DMK won.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Budget carriers like Air Deccan, SpiceJet, IndiGo and GoAir are making key appointments, especially in the positions of chief finance officer, chief executive officer, while some airline executives are on their way out.
The interest rates on housing loans are expected to go up by 25 to 50 basis points in the coming months but it would not affect demand from retail borrowers, an industry official said on Monday.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
'Where will industry have funds when they open up?'
Scandal is a result of callous administrative approach.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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