Posts in category Economic Times
Lower face value to enable more retail investors bond with the best corporates (10-05-2024)
The Securities and Exchange Board of India (Sebi) last week decided to lower the face value of listed bonds to ₹10,000, from ₹1 lakh. The regulator had in 2022 reduced the face value of such securities to ₹1 lakh from ₹10 lakh.
NSE stock soars 25% in unlisted market post 4:1 bonus issue (10-05-2024)
Intercontinental Exchange is currently valued at $77 billion while CME Group is valued at $76 billion. London Stock Exchange, Hong Kong Exchanges and Deutsche Boerse AG are valued between $38 billion and $60 billion.
Sebi cuts lot size of private-placed InvITs to Rs 25 lakh (10-05-2024)
"The proposal will help in increasing the liquidity of privately placed InvIT units by allowing a broader base of investors to participate in the market and promote diversification of investment portfolios, enabling investors to better manage risk," Sebi said in a discussion paper on Thursday.
Gold finance companies plunge on RBI cash advisory (10-05-2024)
"The regulation is expected to slightly reduce the competitive advantage of NBFCs against banks and the likelihood of some share of gold loan customers shifting to the unorganised segment can't be ruled out," said Shweta Daptardar, VP- institutional equity research, Elara Securities. "The share prices have already reacted today, so the downside is expected to be limited."
Tata Motors to spin off its NBFCs, merge them with Tata Capital (10-05-2024)
Group holding company Tata Sons will offer shares of Tata Capital to Tata Motors. This will give India's third-largest carmaker by volume a minority stake in Tata Capital.
VIL shareholders approve plan to raise authorised share capital to Rs 1 lakh cr (09-05-2024)
According to the scrutiniser report of the extraordinary general meeting (EGM) held on May 8, all special resolutions have been approved by the majority of the shareholders, with a minuscule percentage of voters opposing them.
Suryoday Small Finance Bank Q4 Results: Net profit soars 56% YoY to Rs 61 crore (09-05-2024)
The bank's net interest margin for the quarter was 10.1% against 10.4% in the same quarter last year, although it rose sequentially from 9.8%. Operating profit was 25.5% higher at Rs 128 crore against Rs 102 crore. Provisions and contingencies were a ltad lower at Rs 48 crore against Rs 51.5 crore.
Home First Finance to raise $75 million from US Development Finance Corporation (09-05-2024)
The company is in the final leg of getting all the regulatory approvals from the US for the fundraise. The lender's marginal cost of borrowing for the funds raised during the quarter to March 31, 2024 was 8.7%. The average cost of borrowing for FY24 was 8.2%, up 80 basis points year-on-year.
Bandhan Bank in talks to raise $250-million debt from IFC (09-05-2024)
The Kolkata-based lender is now targeting to grow home loan business along with other retail loans while reducing the share of micro loans, which has been a major stress point for it since Covid-19. The bank had a stress pool of Rs 7,500 crore, largely from the microfinance portfolio built through the joint liability group-based lending model.
Indian Overseas Bank Q4 Results: Net profit zooms 24% YoY to Rs 808 crore (09-05-2024)
Chennai-based Indian Overseas Bank reported a 24% increase in net profit for the quarter ended March 2024 on higher interest income. Net profit for the quarter was Rs 808 crore as against Rs 650 crore for the quarter ended 31st March 2023.