Non-banking financial companies (NBFCs) such as Bajaj Finance, Shriram Finance, Muthoot Finance, and IIFL Finance have regained their growth momentum after losing market share to banks in the post-Covid period. The growth surge is being led by diversified lenders and gold-loan companies while development-finance institutions such as Power Finance Corporation (PFC), REC, and Housing & Urban Development Corporation (Hudco) continue to grow at a slower pace.
A series of decisions were taken under the Public Health Department, including an approval to increase honoraria for field-level workers engaged under the Ayushman BharatPradhan Mantri Jan Arogya Yojana and Mahatma Jyotirao Phule Jan Arogya Yojana.
Hudco had in 2006 given a loan of Rs 62.38 crore to Bakshi's private venture, Ascot Hotels and Resorts, for a commercial project in Noida. The loan, however, turned NPA in 2011.
'Amaravati will be a game changer for Andhra Pradesh.'
Public sector housing finance firm Housing and Urban Development Corporation has reduced interest rates on home and project loans by 50 to 125 basis points with effect from January 1, 2009. LIC Housing Finance on Wednesday cut interest rates for existing home loan borrowers by 0.75 per cent with effect from January 1.
Housing and Urban Development Corporation on Monday signed an agreement with French government for financing a pilot heritage housing project in Ahmedabad.
HUDCO on Tuesday said it would construct 250-400 community centres across quake-ravaged Jammu and Kashmir before the start of winter and had earmarked up to Rs 250 crore
Though Housing and Urban Development Corporation (Hudco) would begin issuing tax-free bonds on the same date as Indian Railways Finance Corporation (IRFC), it would offer a higher coupon rate. Both the infrastructure finance companies are slated to issue bonds from January 27.
HUDCO has floated a special loan scheme for rehabilitation efforts in the states affected by the devastating tsunami waves, setting aside a fund of Rs 2000 crore (Rs 20 billion) for lending at a rate of 6.5 per cent.
Mutual funds' largecap investment universe is expected to see seven changes in the upcoming stock reclassification exercise by the Association of Mutual Funds in India (Amfi). According to a report by IIFL Securities, Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch and Samvardhana Motherson are expected to earn upgrades in the revised list of largecap, midcap and smallcap stocks set to be released in the first week of July. Amfi revises the list at the start of January and July every year based on the previous six-month performance of the stock.
Hudco posted a net profit of Rs 107.06 crore for the third quarter ending December 31, 2003.
'Those betting against PSUs will likely be punished in this upswing.'
Stocks of smallcap and midcap companies, which had caught the fancy of retail investors, also feature in the portfolio of leading politicians in addition to bluechip stocks.
The project will be similar to Marine Drive in Mumbai.
Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
The coupon rates are higher than those offered by IRFC.
Air India sale will give a boost to India's privatisation drive, the Economic Survey said on Monday, as it suggested redefining the public sector role in business enterprises to encourage private participation in all sectors. The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
With the new owner shelling out Rs 18,000 crore for the buyout of 'Maharaja' this would be the highest ever amount garnered through privatisation or even the cumulative sum garnered through strategic sale in 1999-00 to 2003-04. The government had garnered roughly over Rs 5,000 crore during that five-year period by privatising 10 CPSEs.
After a hiatus of nearly two decades, the government's programme to privatise state-owned firms restarted with the handing over of debt-laden national carrier Air India to the Tata Group. With the new owner shelling out Rs 18,000 crore for the buyout of the 'Maharaja', this would be the highest-ever amount garnered through privatisation, and is even more than the cumulative sum mopped up through strategic sales from 1999-00 to 2003-04. The government had in October last year inked the share purchase agreement with the Tata Group for sale of national carrier Air India for Rs 18,000 crore. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
As the Tata group inches closer to taking over Air India in January 2022, the $242-billion conglomerate will also inherit a stake in Kerala's Cochin airport. The Tatas would become the only airline to have an operational stake in a major Indian airport. The airport is a strategic hub connecting India to Middle East nations - home to the largest share of Indian migrant workers. In addition to Air India and Air India Express, private carrier Indigo also uses Cochin to ferry the lucrative 'Malayali Gulf traffic' to multiple locations like Jeddah, Riyadh, Sharjah, Dubai, Abu Dhabi, Doha, Kuwait and Bahrain, among others. According to regulatory filings, Air India has a three per cent stake in Cochin International Airport.
This is the second such incident in the city in last few days.
The finance minister was speaking after launching the maiden IDF scheme of IIFCL Mutual Fund in New Delhi on Tuesday.
The most sought-after IPOs of 2017-2018 reap handsome gains for investors, but will IPOs this year do well after listing?
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
In the first nine months of 2017, investment banks pocketed Rs 500 crore for helping companies raise Rs 30,853 crore through IPOs.
Last year, the government had allowed NHAI, IRFC, Hudco, REC and PFC to issue tax-free bonds.
After getting the approval of raising up to Rs 30,000 crore (Rs 300 billion) through issuance of tax-free bonds this financial year, infrastructure finance companies, Housing and Urban Development Corporation (HUDCO) and Power Finance Corporation (PFC), have thrown open their subscriptions under the private placement route.
Ajit Mishra answers reader queries on the stock market.
Take a look at what economists and analysts have to say about this budget.
Senior finance ministry official said the economic affairs department cleared the proposals on Friday.
PFC provides loan syndication, along with 18 other institutions, mostly banks and Life Insurance Corporation and Hudco, under the Power Lenders' Club.
Dipam is conducting the selection of merchant bankers and legal advisors, and planning roadshows.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The court also allowed Indian Banks' Association, another respondent, to file a response.
An agreement has been signed with West Bengal Industrial Development Corporation, which will arrange the land for the project. The land will be purchased and then leased to the developer for roughly Rs 200 crore. Water, power, drainage and other such facilities will be provided by the state government, which sees the whole project as a way to balance regional development. On the face of it, the airport's location seems convincing.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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