Posts in category Business Standard
NBFC-MFIs’ assets under management to see up to 30% growth in FY24: Crisil (01-06-2023)
NBFC-MFIs' assets under management are expected to grow by up to 30 per cent in the current financial year, domestic rating agency Crisil said on Thursday.
The year will also see an improvement in asset quality and profitability for the Non-Bank Finance Companies-Microfinance Institutions (NBFC-MFI) segment, the agency said.
In a report, Crisil said the NBFC-MFI segment's Assets Under Management (AUM) stood at Rs 1.3 lakh crore at the end of March 2023, and the segment has the highest share in the overall microlending universe which also consists of small finance banks, universal banks and other lenders.
The overall AUM is expected to have touched Rs 3.4 lakh crore for the entire microlending universe and the growth in NBFC-MFIs has outpaced the same of other lenders.
The growth in the NBFC-MFIs segment has come on the back of pent-up demand for credit and increase in ticket-size of disbursements, the agency said.
Crisil's senior director Ajit Velonie said the market share of ...
Gold prices eased by Rs 150 to Rs 60,250 per 10 grams in New Delhi (01-06-2023)
Gold prices eased Rs 150 to Rs 60,250 per 10 grams in the national capital on Thursday amid a fall in yellow metal price overseas, according to HDFC Securities.
The precious metal had ended at Rs 60,400 per 10 grams in the previous trade.
Silver, however, jumped Rs 150 to Rs 72,900 per kg.
"Spot gold prices in the Delhi markets traded at Rs 60,250/10 grams, down Rs 150 per 10 grams," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.
In the international markets, gold was quoting lower at USD 1,955 per ounce, while silver was marginally up at USD 23.27 per ounce.
Comex gold prices edged lower in Asian trading hours on Thursday as the dollar and bond yields rebounded from lows in Wednesday's session, Sriram Iyer, Senior Research Analyst at Reliance Securities, said.
Global shares gain amid receding bets for US rate hike, Fed pause talk (01-06-2023)
The U.S. legislation in essence temporarily removes the federal government's borrowing limit through Jan. 1, 2025
Coal India offer for sale: Institutional part subscribed 1.6 times (01-06-2023)
Rs 4,160-cr OFS sees bids worth Rs 6,500 cr, stock falls
Sebi to auction properties of 7 cos on Jun 28 to recover investors’ money (01-06-2023)
Markets regulator Sebi on Thursday said it will auction 17 properties belonging to seven business groups including MPS Group, Tower Infotech, and Vibgyor Group on June 28, with a total reserve price of Rs 51 crore, in a bid to recover investors' money.
Apart from these, the regulator has put on block properties of Prayag Group, Multipurpose BIOS India Group, Waris Finance International Group and Pailan Group of companies, the Securities and Exchange Board of India (Sebi) said in a notice.
The 17 properties being auctioned include land parcels, storied buildings, flats, and a commercial space situated across West Bengal.
Inviting bids, Sebi said auction of the properties will be conducted through online mode between 11 am and 1 pm. Further, total reserve price has been pegged at Rs 51 crore for the assets and Quikr Realty has been engaged by Sebi to assist in the sale of these properties.
Of the total properties to be auctioned, five belong to MPS Group, four relate to Vibgyor, thre
Sebi extends feedback window on MF expense ratio consultation paper (01-06-2023)
Capital markets regulator Sebi on Thursday extended the timeline till June 8 for submitting public comments on the proposed sweeping changes to mutual fund's expense ratio.
The proposal is aimed at curbing distributor practices of unnecessary switching of schemes and pushing new fund offerings for higher commissions.
Sebi had placed a consultation paper on the review of the total expense ratio (TER) charged by AMCS to unitholders of fund schemes on May 18 and sought comments till June 1 on the proposal.
Now, it has been decided to extend the timeline for submission of comments to June 8, the regulator said.
TER accounts for the fees and expenses charged by asset management companies (AMCs).
The Securities and Exchange Board of India (Sebi) in its consultation paper proposed the introduction of performance fees for funds. It proposed two approaches in this regard but also suggested testing the models under the Regulatory Sandbox.
In addition, the regulator suggested that TER shoul
Sebi extends time for AMC’s to comment on market fraud detection policy (01-06-2023)
Sebi on Thursday extended the deadline to June 8 for submitting public comments on a proposal that seeks asset management companies (AMCs) to set up an institutional mechanism for the deterrence of possible market abuse and fraudulent transactions.
Earlier, the last date of submitting public comments was June 3 and now it has been decided to extend the timeline to June 8, the Securities and Exchange Board of India (Sebi) said.
The markets regulator, in its consultation paper issued last month, proposed that AMCs should put in place robust surveillance systems and internal control procedures, to deter possible misconduct by employees or other entities which may have information relating to fund management or investments of mutual fund schemes.
It further suggested that senior management of AMCs should be responsible to ensure that an institutional mechanism is put in place to detect and report possible misconduct by its employees, dealers, stock brokers or any other connected ...
Westlife Foodworld soars 10% to hit a new high on strong business outlook (01-06-2023)
Despite weak macros, Westlife Foodworld is targeting 40-45 store additions (vs. 35 in FY23) and has guided for a strong 8 per cent SSG in FY24.
Commercial LPG price cut by Rs 83, no change for domestic cylinders (01-06-2023)
Oil marketing companies had hiked prices by Rs 350.50 per unit on March 1
Nifty Realty index at highest level since Feb 22; surges 25% in two months (01-06-2023)
Motilal Oswal continues to see re-rating potential in companies, which would provide further growth visibility on the back of strong business development through robust cash flows.