rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Adani Enterprises, which is launching India Inc's second-largest follow-on public offer worth Rs 20,000 crore next week, on Thursday said it is planning to enter the water segment as this is a key element of its core business of infrastructure. The group is into the entire gamut of infrastructure -- being its ports, airports, roads, expressways power generation & distribution, among others. In ports and airports, the group is the largest player in the private sector. Addressing media from Milan, group chief financial officer Jugeshinder Singh said the company has fixed the price band for the Rs 20,000-crore issue in the range of Rs 3,112-3,276 per share.
The government is considering giving more time to farmers to repay their loans under the debt relief programme that allows parital loan waiver to large farmers.
Billionaire Gautam Adani-led promoter group has paid off all of the $2.15 billion loans taken pledging their shares in the conglomerate, and only debt at operating company level remains, Adani Group said seeking to assure investors of its ability to repay debt. Adani Group in a statement termed reports of the group not completing repayment of $2.15 billion share-backed debt "baseless and deliberately mischievous." "Adani has completed full prepayment of margin linked share-backed financing aggregating to $2.15 billion (as was announced on March 12) and all corresponding shares pledged for those facilities have been released," it said.
Kingfisher Airlines chief Vijay Mallya today said the company was negotiating with banks to reduce the high interest rates on its Rs 6,000 crore (Rs 60 billion) debt but maintained the air carrier was not suffering from a "huge" debt burden.
'He has gone through several financial crises and emerged from it. He will find a way out of this one too.'
The decision was taken during a crucial all-party leaders meeting held earlier in the day.
A video is being shared on social media showing the protesters counting the currency notes that were unearthed. The recovered money was said to be handed over to the security units, the Daily Mirror newspaper reported.
Thousands of irate anti-government protesters in Sri Lanka on Saturday stormed into embattled President Rajapaksa's official residence in central Colombo's high-security Fort area after breaking the barricades, as they demanded his resignation over the island nation's worst economic crisis in recent memory.
He drew the roadmap of India's economic reform, unshackled it from the licence raj and pulled it back from the brink when even its gold reserve was pledged.
It is important to understand how your salary influences your loan amount and implementing these valuable strategies can significantly impact your eligibility for the personal loan you desire, says Kamaljeet Rastogi.
CDR amount jumps six times in first half; bankers expect things to worsen.
Former Prez made these remarks days after Muizzu, widely seen as a pro-China leader, urged India to provide debt relief to the archipelago nation.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
The Rs 6,145-crore initial public offer of electric two-wheeler company Ola Electric Mobility got fully subscribed on the second day of bidding on Monday, driven by demand from retail investors and non-institutional investors. The initial share sale received bids for 49,43,63,610 shares against 46,51,59,451 shares on offer, translating into 1.06 times subscription, according to the NSE data.
South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
The government on Monday introduced a bill in Lok Sabha aimed at discouraging borrowers to postpone repayment of their dues and enable the secured creditor to speedily recover their debts including through security or other measures.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
A spokesman of the Sri Lanka Air Force (SLAF) said a video released by Ajith Dharmapala, a former police officer, claimed that President Rajapaksa was staying at the house belonging to Pathirana.
'If the borrower can't repay the loan due to lack of income or losses from speculative activities, they risk defaulting on it.' 'This could lead to the bank seizing the property.'
'We need to be far more careful given the fact that while this is group lending, it's essentially unsecured.'
A pregnant Sri Lankan woman, who had been in a queue for two days to obtain a passport to leave the crisis-hit country for employment overseas, went into labour while waiting for her turn on Thursday and delivered a baby girl.
Banerjee, who had been demanding a waiver of interest on the state's debts for a period of three years, said even a year's moratorium on repayment of interests on central loans would enable the state to create 10 lakh (1 million) jobs.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
As a result of this moratorium, individuals' EMI payments of loans taken will not be deducted from their bank accounts, providing much needed liquidity to borrowers whose income has been disrupted due to the lockdown till May 31.
Dubai government's announcement seeking a six-month reprieve on debt repayments has raised doubts over the Gulf emirate's ability to meet its financial obligations, but experts says this will not affect India much.
Borrow at 4% interest a month; some resort to bulk sales, offer 10-20% discounts
Indian lenders are unlikely to clear the vertical split of BSE-listed Vedanta Ltd in a hurry, considering that the demerger would reduce the fungibility of cash flows across businesses and increase their volatility, according to analysts. The demerger plan, which would result in six separate listed entities, would require approval from shareholders, lenders and other statutory bodies. "We believe that a separate listing of different businesses would reduce the fungibility of cash flows across businesses and increase the volatility of cash flows.
Weak economy and high interest rates in India, which have adversely affected cash flows and debt-servicing ability, have prompted the companies to improve their financial profiles.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) will answer your personal finance-related questions.
The reason is obvious: Both the benchmark indices have almost doubled from their March 2009 levels. The reasons for the stake sales vary from meeting their company's working capital requirements to debt repayment. A few did so for business expansion.
Sources said Sankaran has been arrested on the grounds of abusing his powers in IL&FS Financial Services Ltd through fraudulent conduct and in granting loans to entities that were not credit-worthy or were declared as non-performing accounts.
Indian companies are generating more cash than ever. The net cash flow from listed firms' operations hit a new high of Rs 11.1 trillion in financial year 2023-24 (FY24), crossing the Rs 10-trillion mark for the first time, according to the Centre for Monitoring Indian Economy (CMIE) data going back to 1990-91. The FY24 figure represents a 19.3 per cent jump over the previous year, even as quite a few companies are yet to release their numbers.
Freebies do not seem to have attracted many buyers, as both property prices and lending rates continue to remain high.
Electric two-wheeler company Ola Electric Mobility will float its initial public offering (IPO) on August 2, and a significant part of the proceeds will be used for capacity expansion of its cell manufacturing plant and revving up R&D. The initial share sale will conclude on August 6, and the bidding for anchor investors will open for a day on August 1, according to the red herring prospectus (RHP).
The question is: Will the company have a strong balance sheet to support this massive investment plan?
Often made, these mistakes can send you down the dark alleyways of debt
Often made, these mistakes can send you down the dark alleyways of debt
India on Friday reacted cautiously to the financial crisis in Dubai, caused by debt repayment crisis of a state firm, saying it would examine the extent of the problem, but maintained that no impact was visible as of now.
