There seems to be no respite for Adani Group companies from the market carnage. All 10 stocks belonging to the conglomerate came under a fresh bout of intense selling pressure on Wednesday as the group's debt levels and repayment capabilities continued to plague investors. Analysts said investors are also concerned about whether the group will be able to maintain its pace of growth, given the current turmoil that has wiped out over Rs 12 trillion in market capitalisation (m-cap) since the start of the year.
Ultimately, the choice between no-cost EMI and BNPL depends on an individual's financial situation, preferences, and ability to manage repayments responsibly.
The Essar group, Jindal Steel and Power, Monnet Ispat, Bhushan Steel and the Avantha group have been asked to close deals by March-end.
Edtech major Byju's on Tuesday said it has filed a complaint in the New York Supreme Court to challenge acceleration of the $1.2 billion Term Loan B (TLB). The company is also seeking the disqualification of Redwood, who contrary to the terms of TLB, purchased a significant portion of the loan while primarily trading in distressed debt. "Byju's has had to take these measures following a series of predatory tactics by the lenders, led by Redwood," the company said in a statement.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Layoffs, corporate restructuring, governance and most importantly profitability: The 14 Indian startups that plan IPOs this year are pulling out all the stops to ensure successful market debuts.
If you are one of those who is now staring at your credit card bill and wondering how to go about it, here is the way out.
India's investigating agencies have in the past made a lot of noise about probes that resulted in few convictions
For existing investors, it may be prudent to redeem their current investments in gilt or dynamic schemes and invest it in short-term funds, if the exit load is not very high, advises Malhar Majumder.
Pranjal Kamra, CEO, Finology Ventures, lists seven efficient ways to cope with the rise in EMIs even as you balance your monthly budgets.
IPO-bound hospitality major Oyo's India Chief Executive Officer (CEO) Ankit Gupta and the head of its Europe business Mandar Vaidya have resigned. A company spokesperson told Business Standard that the two had moved on from their roles six months ago in March 2023. During the same period, Oyo had rejigged its top management, where the company's COO Abhinav Sinha was reassigned as Chief Product and Technology Officer, while Chief Business Development Officer Anuj Tejpal was reappointed as Global Chief Merchant Officer.
Sri Lankan security forces raided the main anti-government protest camp at the President's Secretariat in Colombo early on Friday, arresting nine people and injuring several others, as the protesters continued to occupy the sensitive area despite the resignation of Gotabaya Rajapaksa as president.
Weeks after it revised the rating outlook of two companies of embattled Adani group, S&P Global Ratings on Wednesday said it is watching for additional information on the conglomerate's governance and funding for any ratings action. Investors, it said, seek clarity on the credit impact of a string of allegations against the group in a short-seller report published in late January, and on the findings of a recently launched Supreme Court investigation. S&P Global published an FAQ-style commentary titled, "Adani Group: The Known Unknowns".
Sri Lankans were on the edge on Tuesday as they waited whether embattled Gotabaya Rajapaksa will honour his offer to resign as president, amid signs that key members of the erstwhile powerful ruling family were attempting to flee in the face of massive public anger against them for mishandling the economy that has bankrupt the country.
The National Company Law Tribunal (NCLT) on Wednesday admitted Bank of India's plea to initiate insolvency resolution proceedings against debt-ridden Future Retail Ltd (FRL). The tribunal rejected Amazon's objection to initiating insolvency proceedings against Future Retail. Admitting the lenders' plea, the NCLT appointed Vijay Kumar Iyar as the resolution professional for FRL.
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
Vijay Mallya on Wednesday gave a proposal to the Supreme Court to repay around Rs 4,000 crore (Rs 40 billion) loan to banks by September this year.
The amazing excuses given by people who don't invest their money abound, but you would be wise to ignore them. Excuses won't help you get ahead; they can only hold you back from the retirement you deserve, says financial planning advisor P V Subramanyam
Cash-strapped edtech firm Byju's' parent company said on Monday it will raise $200 million by way of a rights issue to all its equity shareholders, aiming to support growth and achieve operational sustainability. The proposed rights issuance by Think and Learn Private Limited (TLPL) will fund capital expenditure and support general corporate purposes. As the largest shareholders, the founders of Byju's have personally invested more than $1.1 billion in the company in the last 18 months.
'What happens in the real estate market is that once the prices go up it goes on to stay at that level.' 'It might not increase and at the same time the prices will not come down too.'
The spike at private sector lenders like ICICI Bank and Axis Bank follows a push to grab market share from India's dominant state banks.
'If something unfortunate happens to an earning member, the family loses the crucial income which would have gone towards paying off debts, meeting the cost of children's higher education, or towards the upkeep of elderly parents.'
The earlier resolution allowing these developers to charge higher power tariffs, now stands cancelled.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
Balance transfer is a facility in which you can transfer outstanding balance from one credit card to another. It works well if you have multiple cards.
'The rising cost of construction, the cost of doing business, high compliance, and inflation/interest rates going up have already reduced returns to single digits.'
The rival promoter group and the entire block of public institutions voted against Basant Jhawar.
The government is set to carry out a performance review of companies that have opted for corporate debt restructuring (CDR).
Debt-ridden Future Group is now focusing on saving and rebuilding firms such as -- Future Lifestyle Fashions, Future Supply Chain Solutions, Future Consumer and Future Enterprises, after the Rs 24,713-crore deal with Reliance Retail was rejected by secured creditors, according to industry sources. However, Future Group's flagship firm Future Retail Ltd (FRL), which has nearly Rs 18,000 crore debt, is bound to face the corporate insolvency resolution process before the National Company Law Tribunal (NCLT). Other companies like Future Enterprises Ltd (FEL), Future Lifestyle Fashions Ltd (FLFL), Future Supply Chain Solutions Ltd (FSCSL), Future Consumer Ltd (FCL) can sustain on their own and can be rebuilt by restructuring their liabilities with the help of current lenders and investors, said an industry source close to the Future Group.
'... as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.'
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
Mallya showed his net worth at Rs 615 crore, mainly in shares and bonds.
Switching to a damage-control mode, bankers and government officials claimed that Jet Airways wouldn't fall even if Etihad refuses to back the resolution plan and exits.
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The move draws a line under the Swiss government's rescue of UBS nearly five years after the bank threatened to collapse under the weight of more than $50 billion in losses on mortgage securities.
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
China will not be allowed to use the southern port of Hambantota for military purposes, Sri Lankan President Ranil Wickremesinghe has said, apparently attempting to allay fears in India and the United States about China's increasing maritime presence in the strategic Indo-Pacific region.
Airline stocks have been soaring following a steep decline in crude oil prices and sustained passenger traffic. Analysts have particularly turned bullish on the stocks of InterGlobe Aviation and SpiceJet. On December 20, shares of InterGlobe Aviation (IndiGo) hit a record high of Rs 3,009 on the BSE, having surged 43.24 per cent year-to-date (YTD).
Mistry's strategy appears to be the opposite of the group's stance in the heady days of 2007
