"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
Even as the semiconductor shortage has limited the demand for new cars, the pre-owned car segment is seeing a surge. A preference for personal mobility, availability of multiple organised online platforms, including e-commerce channels, aggregators, and classifieds, have been fuelling growth. The growth rate of the pre-owned car market is expected to be 1.5x that of the new car market over the next five years.
Passenger vehicle wholesales in India increased by 17 per cent in the second quarter of the current fiscal year as buying sentiment improved and companies stocked up to cater to enhanced demand in the festive season, auto industry body SIAM said on Friday. According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicles sales in the July-September quarter increased to 726,232 units from 620,620 units in the same period last year. Similarly, two-wheeler sales during the September quarter this fiscal rose marginally to 46,90,565 units as compared with 46,82,571 units in the same period last fiscal. However, commercial vehicles sales saw a dip of 20.13 per cent at 133,524 units in the quarter under review as compared with 167,173 units in July-September 2019.
''I don't revisit any of my work once it's complete because I'm very self-critical.' 'I will probably exclaim, "Oh God, such bad acting!"'
IPO market hopes to come out of slump in festive season, reports Sundar Sethuraman.
While the economy seems to be on a firm growth path, the fight against inflation is not over yet. Shaktikanta Das seems to be in no hurry. After playing well through a five-year Test match, he doesn't want to get out hit wicket, observes Tamal Bandyopadhyay.
As the year draws to a close, we look back at the hottest showstoppers of the year. Don't forget to vote for your favourite at the very end!
Modi called business communities and governments to work together to ensure usage of ethical AI as "we have to sense the potential disruptions in different sectors. This problem has to be solved under the global framework."
Not being aware of your spending patterns or going overboard with your festive season spends on your credit card can land you in serious trouble later.
In the festive fever ahead of Christmas and New Year celebrations, netizens have found a way of making the most of their winter holidays through online games.
Billionaire Mukesh Ambani's Reliance Jio on Friday announced deferring the roll-out of the JioPhone Next - the low-priced smartphone it has developed with Google - to Diwali. The phone was previously to be launched on September 10. Ambani at the shareholder meeting of his flagship Reliance Industries in June, had stated that the JioPhone Next will be available for purchase on September 10.
How does one pick the right smartphone out of the confusing array? Here's what you need to keep in mind.
Mumbai police has received text messages warning of a '26/11-like' attack on the city from a phone number with Pakistan's country code and a person has been detained in this connection, officials said on Saturday.
Xiaomi will strengthen its product portfolio and launch 5G devices in the sub-Rs 15,000 segment as it looks to increase its market share in the segment. Xiaomi led the shipments in overall smartphone category in 2021 with a 24 per cent share, according to Counterpoint Research. However, in the 5G segment it is ranked fourth behind One Plus, Samsung, and Vivo, with a 13 per cent share.
Festive season is the mainstay of most brick and mortar retail chains.
Clubbing in multiple weddings in one go dilutes some of the conversation. Conflicts are resolved too neatly and grey areas of complicated equations are left on a note of ambiguity, observes Sukanya Verma after watching the second season of Made in Heaven.
A weekly roundup of the best and worst styles from the celebrity circuit. Scroll down to take a look!
The country's largest lender State Bank of India on Monday said it has reduced interest rates on home loans by up to 10 basis points (bps) and is offering loans starting from 6.70 per cent rate. The new rates are based on loan amount and CIBIL score of the borrower, and are available till March 31, 2021, according to a statement. The bank said the home loan interest rates will start from 6.70 per cent for loans up to Rs 75 lakh and 6.75 per cent for loans in the range of Rs 75 lakh-Rs 5 crore.
While e-commerce operations for these firms are small at the moment, it is slated to grow in the next 3 to 4 years.
Liverpool moved back to the top of the Premier League with a 2-0 victory at struggling Burnley
Dermatologist Dr Parul Kolhe outlines some dos and don'ts to maintain healthy skin through the festive season.
Celeb-inspired off-beat ways to style your sari.
Rebalance your portfolio in case it has become overweight on equities vis-a-vis your strategic asset allocation.
Car sales are likely to grow further in November.
Developers are cautious about the timing of launches in the near term, given the relative uncertainty in demand pick-up and logistical challenges during the lockdown. However, affordable housing projects slated for the first quarter (Q1) of 2020-21 (FY21) may get launched this quarter itself.
Ola Electric has finalised its second phase of expansion, under which it will increase its plant capacity fourfold - from 1 million two-wheelers per annum to 4 million. This will also include motorcycles, said a top executive of the company. It will also build a plant with a 5 Gwh of advanced chemistry cell battery storage capacity in the same super factory located on the outskirts of Bengaluru.
Retail sales of cars are back to January 2018 levels in August 2021. Two-wheeler retail sales are 22 per cent lower, nearly four years down the line.
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
ITC was the top gainer in the Sensex pack, spurting over 2 per cent, followed by Infosys, Asian Paints, HCL Tech, Maruti, PowerGrid, ICICI Bank and TCS. On the other hand, Bharti Airtel, ONGC, HDFC Bank, IndusInd Bank and Bajaj Auto were among the laggards. NSE Nifty rose 16.75 points or 0.14 per cent to close at 11,930.95.
The all-new Scorpio N will not have any component from the current Scorpio, which will now be sold as the Scorpio Classic, reports Rajesh Karkera.
If the occasion demands partywear, Sandeepa Dhar is sure to ace it.
Ultimately, the choice between no-cost EMI and BNPL depends on an individual's financial situation, preferences, and ability to manage repayments responsibly.
Meet the best dressed celebs from the style circuit.
Make sure you don't miss these exciting models on the runway.
The sector seems set for a rally that may be somewhat temporary.
A weekly roundup of the best styles from the celebrity circuit.
'Yellow Bus is a heart-breaking story based on a real incident and will strike a chord with mothers across the world.'
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