Expected credit loss model for banks; PCA for NBFCs levers to asset sale
Posts in category Business Standard
Sensex, Nifty close in red for 7th straight session on weak global trends (27-02-2023)
Analysts said investors are grappling with central bank policies that may remain hawkish for longer than what was priced in by markets
Indian semiconductor market to reach $55 bn by 2026, says Deloitte (27-02-2023)
India is poised to emerge as a major player in 5G, semiconductor and chip technology, live sports, and AVOD with private deployment networks likely to take off in a big way during 2025-2028, according to consultancy Deloitte.
It has also projected the Indian semiconductor market to be worth USD 55 billion by 2026.
Satellite broadband and communication service market in India is expected to grow and expand with the developing use case horizon and exponential growth in data consumption, as per Deloitte’s 2023 TMT (Technology, Media, and Entertainment, Telecom) predictions.
Deloitte predicted the Indian semiconductor market will reach USD 55 billion by 2026 with more than 60 per cent of the market being driven by three industries — smartphones and wearables, automotive components, and computing and data storage.
“With growing demand, the industry is poised to play an important role in enhancing the global value chain as it will expand to a market size of USD 85 billion and generate .
Divgi TorqTransfer Systems sets IPO price band at Rs 560-590 per share (27-02-2023)
The IPO will open on Wednesday and conclude on Friday
Sebi asks investors to submit original documents for refund in PACL case (27-02-2023)
A high-powered Sebi committee on Monday asked investors in illegal schemes of PACL group, with claims of up to Rs 17,000, to produce original documents by March 20 for receiving refunds.
The panel has asked only those investors, whose applications have been successfully verified, to submit their original certificates.
The committee, headed by former Chief Justice of India RM Lodha, is overseeing the process of disposing of properties to refund investors after verifying their genuineness. It has already initiated the process of refund in phases. The panel was set up by Sebi in 2016 following a Supreme Court order.
The committee has decided to call for original PACL registration certificates from eligible investors with claims between Rs 15,001 and Rs 17,000, whose applications have been successfully verified, according to a statement published on Sebi’s website on Monday.
Accordingly, intimation through SMS will be sent to all eligible investors, requiring them to submit original PA
Rupee depreciates by 10 paise to close at 82.85 against US dollar (27-02-2023)
The rupee depreciated by 10 paise to close at 82.85 (provisional) against the US currency on Monday as a stronger dollar in the overseas market and a muted trend in domestic equities weighed on investor sentiments.
At the interbank foreign exchange market, the rupee opened at 82.87 against the greenback and closed at 82.85 (provisional), registering a fall of 10 paise over its previous close of 82.75.
During the session, the domestic unit witnessed an intra-day high of 82.82 and a low of 82.94 against the American dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading marginally lower at 105.15.
Global oil benchmark Brent crude futures advanced 0.46 per cent to USD 83.54 per barrel.
The Indian rupee depreciated on weak domestic markets and a strong greenback. Surge in crude oil prices and FII outflows also weighed on rupee, said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas.
Dollar strengthened on
Divgi TorqTransfer Systems sets IPO price band at Rs 560-590 per share (27-02-2023)
Automotive component manufacturer Divgi TorqTransfer Systems on Monday said it has fixed a price band of Rs 560-590 a share for its Rs 412-crore initial public offering (IPO).
The initial share-sale will be open for public subscription during March 1-3. The bidding for anchor investors will open on February 28.
The IPO comprises fresh issue of equity shares worth Rs 180 crore and an offer-for-sale (OFS) of 39.34 lakh shares by investors and other selling shareholders, the company said.
As part of the OFS, Oman India Joint Investment Fund II, NRJN Family Trust, Bharat Bhalchandra Divgi, Sanjay Bhalchandra Divgi, Ashish Anant Divgi, Arun Ramdas Idgunji and Kishore Mangesh Kalbag will offload shares.
At the upper-end of the price, the IPO is expected to fetch a little over Rs 412 crore.
Proceeds from the fresh issue will be used towards funding capital expenditure requirements for the purchase of equipment for its manufacturing facilities and general corporate purposes.
About 75 per
SpiceJet soars 6% as board okays debt restructuring plan worth Rs 2,555 cr (27-02-2023)
The company’s board approved transfer of cargo business in lieu of issuance of securities including Compulsorily Convertible Debentures (CCDs) aggregate to Rs 2,555.77 crore.
ITC’s climb to all-time high shows Indian investors searching for stability (27-02-2023)
ITC’s climb has accelerated this month, as Hindenburg Research’s allegations against the Adani Group has made Adani Enterprises and Adani Ports & Special Economic Zone the index’s worst performers
Bajaj Auto slips over 4% on concerns of weak export sales (27-02-2023)
Analysts believe that exports are likely to remain under pressure in \near term, owing to weak macros, adverse currency movements and dollar availability issues in Africa, South Asia and Latin America