Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
Only a systematic and disciplined effort can help you free yourself from a debt trap.
Historically, Tata Steel has always been among the biggest companies in the group in terms of m-cap, revenue, and profit but its fortunes began to decline after 2010 due to a sharp decline in the profitability of its European operations that it had acquired in 2007. The company was hit by a sharp rise in its debt level after this acquisition. First, it lost out to Tata Motors in terms of revenue in FY11 and then in March 2015, Titan beat it to become the third-biggest firm in the group in terms of m-cap. In FY20, TCS reported higher revenue and Tata Steel had become the third biggest company in that terms.
The two nations share a problem of corporate debt gone bad that is so large and opaque.
Are you a first-time IPO investor? Even if IPOs appear attractive with expectations of high returns, they come with risks and complexities, cautions Sheetal Jhaveri and shares her checklist to help you navigate through the world of IPOs
Across India, decades of mismanagement and political meddling have left utilities selling electricity below cost and turning a blind eye to rampant theft.
Wickremesinghe will resign after an all-party government is established and the majority is secured in Parliament.
Franklin Templeton Mutual Fund, which has closed six debt schemes, has said the winding-up process will be delayed in the absence of authorisation from investors and further steps will be possible only after seeking fresh approval from them. It further said that investors who do not have an e-mail ID or mobile number registered with the fund house will not be able to participate in the voting process. The date on which the voting would start has not been disclosed yet.
'The opposition wants the country to run on the basis of Shariat but this cannot happen'
In order to make your life a tad easier, here are some pointers on what needs to be done with inheritance of credit card debt.
You require a credit score to get fresh debt and you must have existing debt to get a credit score... Confused? Well, here's how they are related.
'Building a credit history is a gradual process that requires at least 6-12 months of consistent credit activity.'
Facing a massive cumulative loss and debt burden totalling about Rs 67,000 crore (Rs 670 billion), Air India hopes the government would take an expeditious decision to infuse more funds to boost its rapidly dwindling financial position.
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
Euro zone leaders will hold an emergency summit on Monday.
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
While the RBI's guidelines aim to streamline the loan closure process, borrowers must remain proactive.
Only the top 5 per cent profit makers account for 75 per cent of profits.
Sri Lanka's former finance minister Basil Rajapaksa, who is the youngest brother of President Gotabaya Rajapaksa, was stopped from boarding a flight to Dubai on Monday evening, local media reported.
Sri Lanka's main Opposition parties on Sunday agreed to form an all-party interim government after the anticipated resignation of President Gotabaya Rajapaksa on Wednesday, following unprecedented political turmoil that forced him and Prime Minister Ranil Wickremesinghe to offer their resignations over the mishandling of the nation's crippling economic crisis.
The self-employed should invest in the National Pension System, a government-backed, low-cost retirement avenue where they can choose the mix of debt and equity that is right for them.
According to industry players, over 50 FMPs have exposure to Zee Group companies.
Mann stares at a twin-headed monster: Resuscitating the state's debilitated public-sector enterprises and controlling the spiralling debt to keep the state machinery and his poll-fuelled populist schemes running.
With these repayments, RCom has now fully liquidated the borrowings from 23 foreign banks and financial institutions
With credit growth remaining high despite deterioration in the economic environment, the Reserve Bank of India (RBI) on Wednesday asked banks to initiate measures to keep the fresh accretion of bad debt to the minimum and also improve the recovery process.
Supreme Court had asked the government to issue RCom a NoC for spectrum sale to Reliance Jio Infocomm by December 9 if it furnishes a corporate guarantee of Rs 1,400 crore
Rediff.com spoke to registered investment advisors to figure out how best the extra Rs 17,500 saved ever year can be invested to create a decent corpus in the years ahead. This is what they said.
'People try to repay the BIGGEST LOAN first. Actually, you should repay the most expensive loan first.'
While it is too early to assess as to who might have been responsible for the attack and why, one has to recall past instances of contacts of the Liberation Tigers of Tamil Eelam with the Harkat ul Mujahideen (known as the Harkat ul Ansar before 1997), a member of the International Islamic Front of the Al Qaeda and the role played by the commercial ships of the LTTE in the 1990s in facilitating heroin smuggling from the Afghanistan-Pakistan region.
The Adani group will be generating almost 90 percent of its Ebitda (earnings before interest, tax, depreciation, and amortisation) from infrastructure business by 2025 as compared to 83 per cent generated from these businesses currently, top company officials told bankers recently. Of the infrastructure business, 49 per cent of the profits are currently contributed by energy and utility, another 25 per cent by transport and rest by cement and logistics businesses. This will go up substantially as several new projects like Navi Mumbai airport and other projects get commissioned and contribute to the overall Ebitda pie, bankers were told.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
The injured victim, who is under treatment in a hospital, claimed that she had to bear this torture despite paying off the borrowed money with interest.
'Considering Pai is putting his own personal money in Byju's, stakeholders in the company can look forward to more governance and transparency.'
Did you know that credit cards can in fact help you to improve and build your credit score if used responsibly and wisely!
The President had been moved out of his residence on Friday, in anticipation of Saturday's protests.
Reliance joins a number of large companies, including the Essar and Adani groups, which are raising loans abroad as interest rates in India remain high.
