“This year weather has been less warm compared to last year which is pulling down this demand on top of the high base of last year. So, near-term, yes, it could be low, but medium to long-term 1x real GDP which is 6% to 7% that is what we think should hold on power demand,” … Read more
Mumbai | Kolkata: Non-banking finance companies (NBFCs) sought a higher external commercial borrowing (ECB) limit in their first meeting with Reserve Bank of India (RBI) governor Sanjay Malhotra on Thursday, along with easier asset classification for alternative vehicle financing, freer use of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) … Read more
Indian market is likely to trade higher on Tuesday tracking positive global cues. The Nifty future closed positive with gains of 0.03% at 24226 levels on Monday. The volatility index India Vix fell by 1.38% to 14.27, indicating a decline in market volatility. On the options front, the maximum Call OI is placed at 25,000 … Read more
State-run REC reported a 6.5% rise in its September quarter consolidated net profit at Rs 4,038 crore versus Rs 3,790 crore reported by it in the year ago period. The total interest income earned by the NBFC during the quarter stood at Rs 13,485 crore which was up 18% over Rs 11,399 crore reported in … Read more
“Now, I think what markets will be keenly watching out for in this year’s AGM is more on the announcements regarding their green energy initiatives and new energy. Because these are some of the initiatives where they have been talking about, you can say, spending a lot of money, a lot of big corporates are … Read more
“I think while the markets are going up, the mood seems to be less elevated across the globe. So, I still think there is some place to go. Just speaking, of course, as a portfolio manager you have to be long and therefore very optimistic, so a little bit of biased stance. But I do … Read more
Mumbai: Shares of state-owned banks, non-banking finance companies (NBFCs) and infrastructure firms plunged as much as 10% on Monday following the Reserve Bank of India‘s tougher draft guidelines on the financing and accounting of project loans. The proposed stricter lending criteria, with additional provisioning, are aimed at preventing accounting shocks but could potentially hurt balance … Read more
Anil Gupta, Sr VP & Co-Group Head-Financial Sector Ratings, ICRA, in conversation with ET Now on RBI proposal for tighter project finance rules. Gupta says “given the market reaction, there could be a case where maybe more clarification will emerge as to whether 5% provision requirement is on the entire under-construction portfolio of the lenders … Read more
“Overall, the big trigger will be the Fed rate cut which should happen by March, April and we will have to see the magnitude of that so the big defining trend for this year will be rate cuts across the world,” says Ajay Bagga, Chairman, Elyments Platforms 2024 is indeed going to be a crucial … Read more
The Indian market is likely to consolidate on Tuesday, tracking muted global cues. The S&P BSE Sensex rose nearly 1,400 points, while the Nifty50 rose to a fresh record high above 20,700 levels on Monday. The Nifty future closed positive with gains of over 2% at 20,804 levels on Monday. India VIX was up by … Read more