New Delhi: Ace investor Rakesh Jhunjhunwala likely exited the state-run aluminium miner () during the June 2022 quarter. According to the company’s latest filing, Jhunjhunwala’s name was missing from the key shareholders’ list as of June 30, 2022. Listed companies are obliged to release the name of shareholders holding one per cent or more stake … Read more
The stock price of Kansai Nerolac was Rs 390.3 when the market closed on June 13, 2022. The stock had reached its all-time high of Rs 651.5 on January 18, 2021, and has declined by almost 40% from those levels. Synopsis Kansai Nerolac is a subsidiary of Kansai Paint Company of Japan, which has 74.99% … Read more
The finance ministry has asked key infrastructure ministries and departments to speed up projects, setting a target of achieving at least 60% of the FY23 capital expenditure budget target by the end of September. North Block wants to push capital expenditure to support the economy buffeted by high inflation, geopolitical risk and monetary tightening. “We … Read more
Mumbai: , the non-banking arm of the IIFL Group, plans to buy back overseas bonds it sold more than two years ago for $400 million. The company is in talks to raise a short-term offshore loan from at least two banks, including Standard Chartered and HSBC, said people familiar with the matter. The move will … Read more
Private sector capex is showing some signs of pick-up. This is led by large companies in steel and cement, where capacity utilisation is at healthy levels. Source link
Asset reconstruction companies (ARCs) are expected to circle stressed accounts in the micro, small and medium enterprises (MSME) and retail segments in the near-to-medium term, given the twin challenges of inadequate funding access and intensifying competition once the proposed bad bank materialises, rating agency said on Monday. ARCs have been facing headwinds in the past … Read more
New Delhi: IPO-bound Sterlite Power Transmission returned to black in the financial year ended on March 31, 2021, after it reported Rs 362.92 crore net profit for the year against a net loss of Rs 517.71 crore in the previous year. The Vedanta Group company reported a 10 per cent rise in income from operations … Read more
Rating companies reported sharpest rise in June quarter upgrades bucking the trend of downgrades since the beginning of the pandemic early last year as local companies regain business normalcy, demonstrating better creditworthiness, amid a slew of relief measures. Credit Ratio, a gauge for financial health of companies, shot up to 2.08 in June quarter from … Read more
Domestic credit ratings agency on Monday cut its FY22 growth estimate for India to 9.5 per cent from the earlier 11 per cent due to the hit to private consumption and investments following the second wave of COVID-19. The rating agency joins other watchers who have cut their FY22 growth projections, with some pegging it … Read more
Businesses like hotels, civil aviation and tour operators, which are the hardest hit by the second wave of COVID-19, will get help through the expanded Emergency Credit Line Guarantee Scheme (ECLGS), a report said on Wednesday. It will also support build-up of healthcare infrastructure, mainly oxygen availability, in tier-2 and beyond cities and the hinterland, … Read more