Richest Indian Gautam Adani's ports-to-power-to-cement conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said on Tuesday. In a report titled 'Adani Group: Deeply Overleveraged', CreditSights said, "In the worst-case scenario, overly ambitious debt-funded growth plans could eventually spiral into a massive debt trap, and possibly culminate into a distressed situation or default of one or more group companies." Starting out as a commodities trader in the late 1980s, the Adani group has diversified from mines, ports and power plants into airports, data centers and defence.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
More activity in the IT, health care, services sectors; manufacturing firms keeping fingers crossed.
Experts say a combination of improving asset quality and NBFCs' weak balance-sheets bodes well for both corporate and retail banks.
Sensex may remain under pressure this week due to weak global factors.
Two factors play a predominant role in fetching good returns -- stock selection and allocation, suggests Sanjay Kumar Singh.
In its report 'Global Top Picks', Barclays expects the current bull market in global equities to continue, generating a total return of 9 per cent in 2015.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
The new owner may be allowed to dispose of assets accruing from the 10-26 per cent of the net assets of the company.
With the Sensex again nearing 28,000 points, investors can make good returns with a one-two year horizon.
Aditya Birla Nuvo gets board's nod, Videocon submits application.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ace investor Rakesh Jhunjhunwala on Thursday said real estate developers are afflicted with very low return on capital as compared to bluechip stocks. Jhunjhunwala, who runs RARE Enterprises and is set to be a major shareholder in an upcoming airliner, said only the affordable housing developers can look at listing because of the volumes which they can deliver. It can be noted that very few developers like Macrotech Developers formerly Lodha, and DLF are listed on the bourses. Jhunjhunwala cited the case of DLF, saying the stock price plummeted to Rs 80 from Rs 1,300 per piece to illustrate the risks associated.
BigBasket co-founder Abhinay Choudhari has exited the company, and in his next entrepreneurial journey, he is looking to "solve another equally painful chore for many Indian households" after grocery shopping. The Tata group acquired a majority stake in the online grocery store in May. And when the deal happened, Choudhari decided he won't continue to be part of the management team.
'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 readers' queries on a weekly basis.
With cash shortage and plans going awry, the AirAsia owner is looking to cash out of the venture he built with Ratan Tata in 2013.
'Did the Moneyball philosophy get redefined in the domain of the cash-rich IPL, which has become an integral part of the cricketing ecosystem?' asks Atanu Biswas.
The unlocking of the economy since June led to a significant recovery in various macro, micro and high-frequency data points, resulting in the equity markets surpassing their previous lifetime highs.
RIL, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and market capitalisation.
Decision to build or buy a platform is a function of price but buyouts are helping large investors create a medium and influence outcomes.
managers said the weaker rupee, which has driven up shares of technology companies, has helped the fund fetch better returns.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Encouraged by a steady recovery seen in the first two weeks of February, hospitality firms expect the business hotels in metros including Mumbai, Bengaluru, Chennai, Kolkata and Hyderabad that have been lagging the leisure hotels in terms of revenue per available room (RevPar) to catch up in the coming months. Huge pent-up demand for MICE (meetings, incentives, conference and exhibitions) as companies slowly return to hosting physical events coupled with easing of the recently announced restrictions on international travel, will also help in getting closer to pre-Covid levels of revenue, they said. The Omicron wave that peaked in January had derailed the strong month-on-month recovery seen by the hotels since August.
22 companies won bids for the 31 contracts on offer; 15 were new entrants to the oil and gas business. Three years on, none of them have started production.
Jaitley promised higher investment in roads and railways.
Govt wants to up investment in Railways
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
At present, the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, covers only resident Indians. The Finance Bill has expanded the definition of assessees to include NRIs.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Investors with high risk appetite must stay invested while risk-averse investors can consider profit booking.
Experts view this as a case of "failed experiment" in succession
As part of Slum Land Rights Act, the project will benefit a million people residing in 2,500 slums across the state over the next few years
'Indians are great savers, but they are lousy investors.'
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
Many people struggle to claim or liquidate investments and insurance policies due to procedural issues.
Experts say investors need not tinker with their debt portfolio as shifting won't be tax-efficient.
Sun Pharma was the biggest gainer in the Sensex pack, advancing 1.79 per cent.
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