Shares of Sammaan Capital Ltd, formerly Indiabulls Housing Finance, jumped as much as 9% from their day’s low of Rs 151 on Thursday, after the company issued a clarification following the Supreme Court’s instruction to CBI to file an FIR in a case involving the company. In 2019, a whistleblower forum filed a Public Interest … Read more
The flood of foreign money into India’s financial sector this year, over $7 billion and counting, is more than a capital infusion. It’s starting to look like the early rumblings of a structural reset in Indian banking. From Federal Bank’s Rs 6,200 crore Blackstone deal to Emirates NBD’s record Rs 26,853 crore bet on RBL … Read more
A billion-dollar investment in Sammaan Capital has sparked fresh discussions about the outlook for non-banking finance companies (NBFCs) and private sector banks. Parag Thakkar, a market veteran, believes this signals a positive shift for India’s financial sector even if the immediate market reaction remains mixed. “No, we do not have Sammaan Capital in our portfolio, … Read more
Indian equities extended their winning streak for a third straight week, aided by supportive domestic and global cues. After a subdued start, benchmark indices gradually moved higher through most sessions, though profit-booking on the final day pared some of the gains. Ultimately, both the Nifty and Sensex closed nearly 1% higher, ending the week at … Read more
Mumbai: Domestic firms including Credila, Muthoot Finance and Hero FinCorp are rushing to tap offshore markets after S&P Global Ratings upgraded India’s sovereign rating to BBB from BBB-, the nation’s first upgrade in 18 years. They are eyeing more than $2 billion in overseas fundraising in the coming weeks, according to people familiar with the … Read more