SBI to sell its Rs 700-cr Visa Steel loan account
SBI’s offer to sell this account comes even as the Orissa High Court, for the second time, stayed initiation of the insolvency process against Visa after the Cuttack bench of the National Company Law Tribunal (NCLT) had admitted the borrower for commencement of bankruptcy proceedings, acting on a plea by Punjab National Bank (PNB) late […]
Good times roll on for banks, PSBs to top private peers on profit growth
An analysis by brokerage house Motilal Oswal said private banks could report profit growth of 28% while the loans could rise upward of 18%. State-run banks, courtesy the lower base, will show optically higher profit growth at 44%.
Sebi lets bourses offer futures contracts on corporate bond indices
To start with, exchanges have been permitted to launch derivative contracts on indices of corporate debt securities rated AA+ and above. Sebi said constituents of the index should have adequate liquidity and diversification at the issuer level and it should be reviewed periodically.
To start a passive ELSS, stop new flows into active plans
In a letter addressed to the Association of Mutual Funds in India (Amfi), the capital markets regulator said, “Based on feedback received from stakeholders, it has now been decided that mutual funds that have an existing actively managed open-ended ELSS scheme may launch passively managed open-ended ELSS scheme after stopping fresh inflows/subscriptions to existing open-ended […]
RBI tightens rules for trading in government securities
The central bank also said that no request for cancellation of bids will be entertained after the close of the auction window.
JP Morgan, BofA Securities downgrade Airtel ratings, shares fall
The brokerage said one round of tariff hikes has already been factored in and there is a risk of further increases being postponed until after the general elections in 2024. “Competition may increase with Jio getting aggressive in the postpaid market and potential entry of Adani in 5G/B2C apps,” said Salgaonkar.
REITs, InvITs lose sheen as rates rise
A REIT is a company that owns, operates, or finances income-generating real estate assets. Typically, several large investors pool in to buy units of these companies and earn a ‘distribution yield’ based on the income generated on the underlying assets.