Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Naved Masood, former secretary in the Ministry of Corporate Affairs and Sebi board member; TV Mohandas Pai, chairman of Manipal Global Education and Dinesh Kanabar, CEO, Dhruva Advisors have ceded their position on the NSE board following end of their tenure.
'We try to pick up stocks early and hold onto them for the long term.' 'We are not someone who buys and sells on a daily basis.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Discrimination between old and new customers have come down after base rate.
Life Insurance Corporation of India (LIC) on Friday got its first female managing director and another new MD.
Brace yourselves to shell out more for home loan instalments.
Investing in such properties is high-risk proposition, as developers do not have requisite approvals. At a later stage, projects can be delayed or even shelved for lack of funds.
He also pointed out that the home ministry was neither consulted, nor did it give the necessary security clearance
The Central Bureau of Investigation on Wednesday arrested eight people, including the chief executive officer of LIC Housing Finance, for allegedly giving corporate loans for monetary considerations.
The top-100 wealth creators generated Rs 49 lakh crore during 2014-19, the highest-ever quantum of wealth added, according to Motilal Oswal's Annual Wealth Creation Study 2019. According to the study, Reliance Industries, Indiabulls Ventures and IndusInd Bank are the biggest, fastest and most-consistent wealth creators, respectively. The number of PSUs in the top-100 wealth creators is only nine, namely IOC, BPCL, HPCL, Power Grid Corporation, Petronet LNG, Indraprastha Gas, LIC Housing, Bharat Electronics and NBCC.
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
The reaction from Planning Commission Deputy Chairman Montek Singh Ahluwalia comes a day after the Central Bureau of Investigation arrested LIC Housing Finance CEO Ramachandran Nair and seven other senior bankers on charges of corruption and criminal conspiracy.
Life Insurance Corporation (LIC) of India, which is conducting an internal probe into the bribe-for-loan scam that surfaced at LIC Housing Finance (LICHF) in November, has not detected any aberration as yet.
Nine days after their arrest in a cross-country housing loan scam, a special CBI court on Friday granted bail to all the eight accused, including LIC Housing Finance CEO Ramchandran Nair, after observing that their custody is not required further.
CBI officials, however, said no such evidence had so far been found. CBI, on receiving a tipoff from its sources, found that a private financial services company, its chairman and managing director, and other associates were allegedly bribing senior officials of public sector banks and financial institutions for facilitating largescale corporate loans.
India's biggest life insurer and financial institution has turned to its 'turnaround man' to restore credibility to prime subsidiary LIC Housing Finance (LICHF). Vijay Kumar Sharma, 52, formally took over as its CEO on Wednesday. Sharma comes from Chennai, where over the past one year he turned LIC's south zone into the best performer after a 20-month slowdown.
The Government today said it has not directed public sector banks to cut exposure in real estate following the housing-finance bribery scam. "No why should we say this," Financial Services Secretary R Gopalan told reporters when asked if the government has given such directions to the state-run banks.
'Kindly advise about the following stocks. Can I hold or exit?'
According to media reports, CBI conducted raids in prominent finance companires -- LIC Housing Finance and Central Bank of India with regards to a multi crore housing scam.
LIC is also working on a new model to scan loan applications.
A lot of work is needed to be done on the part of the insurance sector behemoth, and the government, before it is ready for its market debut.
Several banks and housing finance companies have come under the scanner of the competition watchdog for imposing penalty on pre-payment of loans.
Companies which have been dropped from the list include Tata Motors, Hindustan Unilever, MRF, Glaxo SmithKline Consumer Healthcare, Pfizer, Dr Reddy's Labs, Glenmark Pharmaceuticals, HDFC and Kotak Mahindra Bank
Tata Capital will offer home loans at lower rates to women borrowers, on the lines of similar offerings being made by state-run institutions like SBI and LICHF.
'Loan approvals have increased at a much higher pace. And this growth has been driven by retail, not project finance,' says R R Nair, director and chief executive, LIC Housing Finance.
Following a cut in the interest rates by banks, LIC Housing Finance Ltd on Friday announced a special rate of 7.75 per cent on home loans for all terms.
With public sector banks reducing interest rates on home loans up to Rs 20 lakh (Rs 2 million), housing finance companies (HFCs) might be under pressure to follow suit in order to stay competitive.
The RBI on Friday said it will give banks Rs 1 trillion through targeted long-term repo operations (TLTROs), of up to three-year maturity, to deploy in "investment-grade corporate bonds, commercial paper, and non-convertible debentures over and above the outstanding level of their investments in these bonds as of March 27, 2020."
In the last five months, the Reserve Bank of India (RBI) announced four rate cuts, primarily to ease the liquidity crisis that has besieged the financial markets. These cuts have encouraged the public sector banks to slash rates.
Say cost of funds too high to lower lending rates.
"Our target is to disburse at least Rs 2,000 crore this year. Retail business constitutes 94 per cent of our business. Our total disbursal last year was Rs 7,100 crore and we plan to grow by 40 per cent this year," says LIC Housing Finance's new CEO and director, R R Nair.
Some of the top indebted companies likely to face financial headwinds in the coming quarters include NTPC, PowerGrid, Tata Steel, Adani Power, JSW Steel, UPL, and Steel Authority of India. Together these 201 companies owed Rs 14.9 trillion to their lenders at the end of September 30, 2019, up 4.1 per cent year-on-year (YoY) during the first half of FY20.
In a bid to get more returns from its properties, Life Insurance Corporation of India has identified 70 sites, spread across the country, for development of either residential or commercial projects.
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