The finance company is likely to move towards “predictable profitability” by the end of this fiscal year as it shrinks its legacy book, which is expected to decrease the volatility in the earnings number, he said. Consistency in earnings is a factor that most investors have preferred over surprises.
Posts in category Economic Times
BSE to discontinue weekly contracts on Bankex, Sensex 50 (04-10-2024)
The weekly index derivatives contracts on Sensex 50 will be discontinued with effect from November 14 end of day while Bankex will be discontinued from November 18.
Refex Industries plans to raise Rs 927.81 crore (04-10-2024)
Refex, which is in the business of ash and coal handling and electric vehicle mobility, also has a presence in refrigerant gases, and power trading.
Indian steel stocks get a Chinese stimulus (04-10-2024)
Brokerage Morgan Stanley has upgraded shares of JSW Steel and Jindal Steel and Power to ‘overweight’ from ‘equal-weight’, while Tata Steel is now rated ‘equal-weight’ as compared to ‘underweight’ earlier. Nomura India has also initiated coverage on both JSW Steel and Jindal Steel with a ‘buy’ rating.
LIC eyeing strategic stake in Standalone Health Insurance Company (04-10-2024)
The health insurance sector is now the fastest-growing segment in the country’s insurance industry, driven by rising healthcare costs and increasing awareness of the need for coverage.
MUFG rejoins Yes Bank race, submits initial bid for a majority stake (04-10-2024)
Japan’s MUFG has re-entered the race to acquire a majority stake in Yes Bank after its proposal to invest in HDB Financial was rejected. MUFG has submitted a non-binding offer and is conducting due diligence, negotiating mainly with Yes Bank and SBI.
Bulls huddle in bunkers as West Asia crisis explodes (03-10-2024)
The NSE Nifty dropped 2.12%, or 546.80 points, to close at 25,250.10. The BSE Sensex fell 2.10%, or 1,769.19 points, to close at 82,497.10. This is the highest fall in a day since August 5. Apart from JSW Steel and ONGC, all other Nifty stocks closed lower on Thursday. Both indices have declined over 3% in 5 sessions.
New PMAY rules will curb misuse, ‘trading of loans’: Mortgage companies (03-10-2024)
Indian mortgage lenders anticipate that new guidelines for the affordable home subsidy plan under the Pradhan Mantri Awas Yojana (PMAY) will plug fund leakages and ensure benefits reach more end-users. The scheme will now offer a reduced total subsidy of ₹1.80 lakh over five years, aiming to curb misuse by builders and brokers.
MPC’s new members may stay with RBI’s view on inflation (03-10-2024)
On Tuesday, the government reconstituted the six-member MPC, appointing three new external members for a four-year term. The new members are Ram Singh, Saugata Bhattacharya and Nagesh Kumar. Singh is director, Delhi School of Economics, Bhattacharya an independent economist, was formerly chief economist at Axis Bank, while Kumar is director and chief executive at the Institute for Studies in Industrial Development, New Delhi.
Small finance banks, microfinance lenders cap loans to curb excess borrowing (03-10-2024)
Small finance banks and microfinance lenders are setting a cap of four live loans per borrower. This is a precautionary step to avoid defaults due to unsecured loan stress. The RBI has already raised concerns about rising delinquency levels and multiple live loans, prompting this move. Utkarsh Small Finance Bank follows this four-loan cap policy.