Defending the new foreign investment guidelines released this week, commerce and industry minister Kamal Nath said on Friday the norms would not distinguish between different forms of foreign capital.
The Department of Telecommunications (DoT) is in the process of issuing a show-cause notice to Vodafone Idea (Vi) for delaying the payment of licence fee. Companies pay 8 per cent of their adjusted gross revenue as licence fee. This also includes a universal service obligation levy. The fee is collected from each of the 22 telecom circles in the country on a quarterly basis.
'Exposure to small and midcap stocks exceeded desired levels in many portfolios, prompting rebalancing.'
The Supreme Court on Friday said Sebi can take action against Sahara if it does not provide details about investors from whom the company had raised Rs 24,000 crore (Rs 240 billion).
Days after JP Morgan announced the inclusion of government bonds in its emerging market (EM) bond index, a host of banks and other financial institutions (FIs) are set to tap the debt market. They plan to raise Rs 18,000 crore by issuing non-convertible debentures (NCDs) and bonds. National Bank for Agriculture and Rural Development (Nabard) plans to raise up to Rs 3,000 crore via five-year social impact bonds on Tuesday, the first of its kind in India.
The government has dispensed with the condition of obtaining Foreign Invesment Promotion Board's approval for non-residents to transfer shares and convertible debentures of Indian companies from Indian residents, subject to sectoral caps.
The finance ministry has suggested easing of the rules for calculating foreign investment in a company. The proposed rules, which take out sundry entries of indirect investment, will make life easier for companies, which have high foreign institutional investment and face the risk of breaching sector-specific caps.
It's a new modus operandi of scamsters to dupe investors, warns Sebi
The Reserve Bank on Thursday eased foreign direct investment (FDI) norms and allowed banks to provide guarantees on behalf of NRIs to acquire shares and debentures in Indian companies.
The higher dividend will help Tata Trusts, which owns 67 per cent stake in Tata Sons, to invest in its charitable activities. The total dividend outgo will be Rs 404 crore.
The Adani group has exited the financial services business by selling its entire 90 per cent stake in Adani Capital and Adani Housing to private equity (PE) firm Bain Capital for Rs 1,440 crore. The total valuation of the Adani financial services business stands at Rs 1,600 crore. Gaurav Gupta, managing director (MD) and chief executive officer (CEO) of the Adani firms will hold the rest of the stake.
Shares of auto component major, Samvardhana Motherson International, has gained 11.5 per cent on the bourses after the company approved the qualified institutions placement (QIP) issue and announced the calculation methodology for its compulsorily convertible debentures, or CCDs, into equity shares. Analysts cite strong investor response to the issue that has kept the sentiment positive for the stock. Brokerages, however, have a mixed view on the outlook for the auto parts supplier.
'We started affordable housing loans that has good traction and the books have grown to Rs 750 crore as of the end of last quarter.'
In January this year, Tata Sons invested an additional Rs 2,500 crore (Rs 25 billion) in Tata Teleservices which was used to repay loans of the wireless telephony company.
Regardless of market levels, invest in stocks and equity mutual funds in a staggered manner.
IFMR Capital previously pioneered the multi-originator securitisation.
Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
Due to default in payment, the securities of FICL and NDIL will be valued at zero basis AMFI standard hair cut matrix, and interest accrued and due will be fully provided.
To minise wasteful administrative costs, number of enterprises in strategic sectors will ordinarily be only one to four; others will be privatised/merged/brought under holding companies, she said.
The stock has gained over 10 per cent in the last month but it could still have an upside, with valuations between Rs 5,200 and Rs 5,700 from several analysts and strong 'buy' consensus.
For non-banks, the IL&FS crisis was nothing short of India's Lehman moment, which has for a foreseeable future reset the sector on multiple grounds.
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
A mixed global trend and weakness in rupee influenced the sentiments during the day.
Admitting that credit growth is "very low" given the size and growth rate of the economy, the Reserve Bank on Wednesday said for both the numbers to match, "the very very wide output gap" has to close. The central bank also clarified that low credit growth does not necessarily mean low credit flow to the economy, or choking of credit to the system, as bank credit growth numbers that the central bank publishes regularly represent only the outstanding credit in the system. Output gap means due to poor demand conditions, companies are unable run their plant at full installed capacity or, in a larger sense, an economy is not producing optimally as the demand is missing.
Sahara Group chief Subrata Roy passed away on Tuesday due to a cardiorespiratory arrest after a prolonged illness, a company statement said. He was 75. He was 75. According to the company statement, he passed away at 10.30 pm due to cardio-respiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes.
An NCD's credit rating will tell you whether risk possibility is high or low. Instruments rated below AA are regarded as high-risk.
This make it the first domestic firm to sell such a long-tenure rupee debt instrument.
Reserve requirements, mandatory investment in G-secs under Companies Act may slow lending for HNI investment in IPOs.
In what is amongst the first focused fund in the space, India Media Entertainment Fund (IMEF) is raising Rs 500 crore, which will provide both equity as well as instruments like non-convertible debentures (NCD) to companies in the content, distribution platform and services areas. The private equity fund has appointed a high-profile advisory body which includes ad guru Prahlad Kakkar, managing director of Red Chillies Entertainment and cricket team KKR Sports, actress and entrepreneur Raadhika Sarathkumar, who has starred in Malayalam, Hindi and Kannada films and runs Radaan Mediaworks. It also includes Ramnath Pradeep, former chairman and managing director of Corporation Bank, and Rajesh Gupta, senior partner of law firm SNG Partners.
Justice Bharati Dangre granted them bail as the Enforcement Directorate failed to file its charge sheet in the case within the stipulated 60-day period.
Bandhan financial Services will raise funds via internal accruals.
Besides launching 50 products with a refreshed logo, Britannia to issue bonus debentures of Rs 720 crore
Tata Steel said it has raised Rs 2,000 crore (Rs 20 billion) through private placement of rupee debentures as part of its long term financing plan. The issue, which closed on May 6, opened with an initial size of Rs 750 crore (Rs 7.5 billion) and the deemed date of allotment for the debentures was May 7. The debentures were assigned a rating of AAA (ind) by Fitch Ratings India Private Limited for the aggregate amount of Rs 2,000 crore (Rs 20 billion).
Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now. "The runway for financial services and mortgage, which are so underserved and under penetrated, is going to be very large. HDFC Bank - the combined entity - with a large and growing distribution and customer franchise, more than adequate capital, healthy asset quality and profitability, will be best positioned to capture growth.
Bankruptcy court NCLT on Tuesday allowed billionaire Anil Agarwal's Twin Star Technologies to take over Videocon Industries Ltd for about Rs 3,000 crore. Twin Star, a part of Vedanta Group, will pay around Rs 500 crore within 90 days as upfront payment and the rest as non-convertible debentures over a period of time. A two-member Mumbai bench of the NCLT comprising members - H P Chaturvedi and Ravikumar Duraisamy - approved the resolution plan by Twin-Star Technologies.
Most Asian stock markets steadied on Wednesday.
The equity infusion will happen at Rs 505 a unit, which is a premium of nearly 14 per cent over February 4's close of Rs 444.60.
This payment of Rs 962 crore is inclusive of the Rs 500 crore DHFL received from exiting its entire stake in subsidiary firm Aadhar Housing Finance Ltd.
Investors in the 10% and 20% slabs can get better post-tax returns compared to a bank fixed deposit
According to industry players, over 50 FMPs have exposure to Zee Group companies.
