Posts in category Economic Times
Stock Market Live Updates: SGX Nifty signals a negative start; Asian stocks trade mixed (08-08-2022)
Festive season: Burst of discretionary spending likely till December; recovery seen for electronics, gifting too (08-08-2022)
"We have forecast double-digit growth this festive season over the festive months of 2019," said Vishal Chaturvedi, vice-president (South Asia), The Body Shop. "This includes gifting across various upcoming festivals, Diwali and the wedding season. People are also coming back to physical stores after the last two years of stress, which were bad for us as well."
China IPO market trounces world with $58 billion boom (08-08-2022)
China's IPO market has defied headwinds such as rising interest rates and fears of a US recession, which have brought major equity fundraising elsewhere to a virtual standstill. Offerings in the Asian economy - whose monetary policy is diverging from the Federal Reserve - are largely geared toward local investors.
HDFC Bank raises up to $300 million in NRE deposits (08-08-2022)
On July 6, the Reserve Bank of India (RBI) permitted banks to garner FCNR (B) and NRE deposits from the Indian diaspora without any interest rate cap. Such relaxations are available until October 31 and November 4, respectively. The central bank also relaxed rules for external commercial borrowings, seeking to arrest the outflow of funds and ease pressure on the rupee.
Stressed firm can recast shareholding if approvals are in (07-08-2022)
A capital reduction is done when companies want to decrease their shareholding. This could be done through either a share cancellation or a share buyback. In the ruling, NCLAT said that the capital reduction was approved by all the shareholders with the objective of reducing the overall weighted average cost of capital and improving the earnings per share, and there were no objections from any of the creditors of the appellant.
Public Sector Banks recover ₹6.4l cr NPAs, written-off loans since FY15 (07-08-2022)
The provision coverage ratio of the PSBs, a measure of health that captures amounts set aside to cover bad loans, has improved to 86.9% at the end of March 2022 from 46% at the end of March 2015. The state-run banks have recovered ₹5.17 lakh crore in non-performing assets (NPAs) and ₹1.24 lakh crore in written-off accounts since FY15.