Indian corporate are fast tapping the international bonds market to raise funds for their operational expenses even as they reduce their presence in the rupee bond market. As bonds are costlier for companies and investors are more sceptical than the banks, chief financial officers say they are looking at other avenues for raising funds in the coming months as dollar bond rates are lower in the range of 100 to 250 basis points. "For corporate with reasonable credit quality, the Indian bond market has become less of an option from a cost point of view. "In addition, conditions imposed in the Indian bond market by investors post Franklin episode have also become very onerous," said Prabal Banerjee, president-finance of Bajaj group. "Hence very few corporate are looking at the local bond market for resource mobilisation, since both, bank loans and the overseas bond markets are much more attractive," he said.
Biggest contribution came from Bharti group-led Satya Electoral Trust.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
.jpg)
The Indian government has paid Cairn Energy Plc Rs 7,900 crore to refund taxes it had collected to enforce a retrospective tax demand, ending a seven-year-old dispute that had tarred the country's image as an investment destination. The company, which is now known as Capricorn Energy PLC, in a statement said it has received "net proceeds of $1.06 billion", of which nearly 70 per cent will be returned to the shareholders. The tax department had used a 2012 legislation, which gave it powers to go back 50 years and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India, to seek Rs 10,247 crore in taxes from Cairn.
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
Bids for eight coal blocks were sent for re-examination.
Year 2013 saw business leaders facing the ire of hostile investigative agencies.
The Delhi high court on Friday reserve its order on a Public Interest Litigation alleging that the Congress and the Bharatiya Janata Party received funding from subsidiaries of United Kingdom-based Vedanta Resources in violation of various Indian laws.
Merrill Lynch jumps to first from 7th last year in a smaller market; says its focus is larger deals and clients.
In the Sensex pack, Axis Bank, HCL Tech, M&M, TCS, HDFC, Kotak Bank, PowerGrid, Hero MotoCorp and Vedanta were among the top gainers, rising up to 1.91 per cent. Sun Pharma was the biggest loser, cracking 5.78 per cent.
Prime Minister Manmohan Singh has asked administrative ministeries to work out viable plan for disinvestment of BHEL and Coal India, including dividend payment, so as to achieve Rs 40,000 crore (Rs 400 billion) target in the current fiscal.
Promoter holding in family-owned firms up 70 bps since 2005, 240 bps since 2010.
Cairn has slashed its planned capital expenditure (capex) by 60 per cent to $500 million against the earlier $1.2 billion.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Chinese alumina refining and metal smelting technologies have emerged as a match for the best anywhere in the world. In fact, Vedanta and Hindalco have bought technologies from China. Our aluminium makers will be haunted by twin fears of rising imports and low metal prices squeezing margins over a long time.
Consumer businesses come to the rescue of large conglomerates in the midst of a meltdown in commodities.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
A plea of the UK-based Vedanta group company to export its share of crude oil from Barmer oil field in Rajasthan was on Tuesday rejected by the Delhi high court on the ground that domestic crude cannot be exported till India attained "self sufficiency".
According to industry experts, companies in sectors such as consumer durables (fans, air-conditioners), power cables and the electrical industry will be hit, given that they are big users of copper.
Modi made a strong case for a partnership between the producers and consumers in the oil market as it exists in other markets.
From 5G to Tesla to Covid vaccine, 10 things will shape India's future.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Ninety-nine companies, which also include some unlisted ones, have more than Rs 100 crore each of minimum alternate tax credit on their books, cumulatively adding up to Rs 75,000 crore. By utilising MAT credit, many companies will be able to bring down their effective tax cost.
Moily had last week rejected Vedanta's proposal to mine the Niyamgiri hills after 12 village councils of Dongriya Kondh tribal groups opposed the project in their forests.
The government has a two-pronged strategy for e-auction of cancelled coal blocks.
Analysts refuse to read too much into the early birds numbers.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
In the midst of huge job losses as a fallout of the coronavirus pandemic, Tamil Nadu Chief Minister Edappadi K Palaniswami has signed 17 MoUs for an investment of Rs 15,100 crores that aim to provide 47,100 jobs. But a clearer picture on where the projects stand will emerge only after the Covid-19 induced fear psychosis ends, to see if popular protests will derail them like they have done so many others, says N Sathiya Moorthy.
The company is looking to invest more than $3 bn over the next three years.
India's harsh lockdown has left companies grappling with temporary closure, chaotic supply chains and depressed demand. Consequently, business plans have been modified.
The likes of Microsoft and Cohesity have offered crore plus salaries to some students.
To this end, the group is consolidating its global assets under GMR Infrastructure International (registered in the Isle of Man) for a public issue in London, according to an executive who did not wish to be identified, in a move that largely replicates what metals behemoth Vedanta did six years ago.
As Covid-19 cases surge in India, companies have realised it's a tightrope walk between maintaining production and ensuring employee safety.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
The markets have reacted negatively, for example, to recent news that Cairn India, of which the Anil Agarwal group company Vedanta owns 60 per cent, will give a $1.25-billion loan (about Rs 7,500 crore) on notably easy terms to Sesa Sterlite, another Anil Agarwal group company.
The Hinduja Group, Mukesh Ambani, Murugappa, and the Adani groups were the other gainers in the Modi regime, while Naveen Jindal and Sun Pharma groups saw the most erosion in their m-cap in the last five years, reports Krishna Kant.
Mining major Vedanta Resources on Thursday said its investment in India would come down by up to $2 billion (nearly Rs 9,000 crore) in the next two years as expansion plans are put on hold after the group has been denied permission to mine bauxite in Orissa's Niyamgiri hills.
Shameem Akthar, yogaacharya trained with the Sivananda Yoga Vedanta Center, takes you through five exciting arm-upper body toning poses.
Mass agitations are not particularly uncommon in India. But a mass agitation led by an environment-related issue that has gone out of hand is not something that can be easily recalled.
Some initial reactions to Prime Minister Narendra Modi's announcement of demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances