Posts in category Economic Times
RBI imposes curbs on two Edelweiss companies for ‘evergreening’ stressed loans (29-05-2024)
"The action is based on material concerns observed during the course of supervisory examinations, essentially arising out of the conduct of the group entities acting in concert, by entering into a series of structured transactions for evergreening stressed exposures of ECL, using the platform of EARCL and connected AIFs, thereby circumventing applicable regulations. Incorrect valuation of SRs was also observed in both ECL and EARC," the RBI said.
Aadhar Housing Finance Q4 Results: Net profit jumps 43% YoY to Rs 202 crore (29-05-2024)
Its total income for the quarter stood at Rs 673 crore, 25% higher than what it was for the same period last year. Aadhar, a leading lender to the economically weaker section, saw its assets under management grow 23% year-on-year to Rs 21121 crore at the end of March. Its average loan size is Rs 10 lakh.
Online bond platform providers set up industry association to boost retail participation (29-05-2024)
The executive committee of the new body – called the OBPP Association of India – was formalized at a meeting on May 28 at the NSE’s office in Mumbai, with more than 20 of the 27 licensed OBPPs in attendance, the association said in a statement.
EIH Limited Q4 Results: PAT jumps 169% YoY to Rs 247.6 crore (29-05-2024)
EIH Limited, the flagship company of The Oberoi Group has posted a profit of Rs 677.7 crore for financial year 2024, up 105.9% year on year. The luxury hotel chain posted revenues of Rs 2626 crore for fiscal year 2024, up 25.3% year on year.
Ahead of Market: 10 things that will decide D-Street action on Thursday (29-05-2024)
The Nifty experienced a decline of 183 points, closing near the 22,700 level, and formed a "dark cloud cover" candlestick pattern, a bearish signal. The Indian market saw its worst session in nearly three weeks on Wednesday, dragged down by losses in heavyweight financials and IT stocks.
General Atlantic Singapore likely to sell up to 6.8% stake in KFin Technologies for Rs 833 crore via block deal: Report (29-05-2024)
General Atlantic is a part of the promoter group which holds a stake in KFin Technologies. In December, General Atlantic had sold a nearly 10% stake in KFin or 1,70,00,000 shares of the company at Rs 500.25 apiece. It made a profit of Rs 851 crore.
Technical Breakout Stocks: How to trade JSW Infrastructure, Coromandel International & Power Finance Corporation on Thursday (29-05-2024)
The S&P BSE Sensex fell over 600 points while the Nifty50 closed at 22,704. Buying was seen in utilities, power, healthcare, and telecom stocks while IT, oil & gas and banks saw some selling. JSW Infrastructure rose over 2%
RBI’s Swaminathan comes down hard on dubious ARC practices (29-05-2024)
The Reserve Bank of India (RBI) has criticized asset reconstruction companies (ARCs) for their use of distressed assets and innovative structures to circumvent regulations. The DG, J Swaminathan, emphasized that ARCs' performance is less than optimal and that they are often used as conduits to evergreen distressed assets. The RBI is concerned about ARCs striking deals with defaulting promoters, giving them a back-door entry.