Big Movers on D Street: What should investors do with Hikal, JSW Energy and RVNL?
Benchmark indices, S&P BSE Sensex and Nifty50, rose on Tuesday, supported by foreign institutional investor inflows and firm Asian markets. The financial services, services, teck, capital goods, bankex, IT and industrials sectors rallied, while commodities, energy, telecommunication, auto and consumer durables pulled back. Hikal gained 8.5%, while M&M rose 4.08%, though shares in ONGC fell […]
India’s growth momentum may continue in FY24: RBI
Inflation is already moderating and the external account is sound, the Reserve Bank of India (RBI) said, but the El Nino and its adverse impact on rainfall remain potential threats to macroeconomic stability and food prices. Furthermore, moderating global growth, protracted geopolitical tensions and a possible upsurge in financial market volatility, evident in the implosion […]
Resolution ecosystem to get a fillip with new rules
The RBI is working to establish necessary recognition and resolution measures and is working on the proposed securitisation of stressed assets framework, which will play a crucial role in effectively dealing with rising non-performing assets (NPAs).
Central Bank preparing for a rainy day
Contrary to expectations of a massive surplus transfer to the government, the central bank raised its Contingent Risk Buffer (CRB) by 50 basis points to 6%, when the Economic Capital Framework adopted in 2019 prescribed the 5.5% to 6.5% range.
RBI to ensure govt’s fundraise is smooth despite global concerns
“The Reserve Bank would endeavour to ensure smooth completion of the government borrowing programme in line with the guiding principles of debt management while ensuring stable debt structure for the governments,” the central bank said.
HDFC Bank may buy 1.6% in HDFC Life from JV partner
In a similar move, ICICI Bank this week approved a proposal to increase its shareholding in ICICI Lombard General Insurance, aiming to establish the company as a subsidiary of India’s second-biggest lender by market capitalisation.
Dividend to govt triples on high forex income and low liquidity
While income for the year increased by 47.06 per cent to its highest ever at Rs 2.65 lakh crore , the expenditure increased by 14.05 per cent. The year ended with an overall surplus of Rs 87,416.22 crore that was transferred to the government in the form of dividend as against Rs 30,307.45 crore in […]
Go First lessors’ plea contrary to law, says interim RP
Interim resolution professional (IRP) of Go First stated that seeking directions to take possession of the aircraft from the Delhi High Court would be “contrary to law”. Taking possession of the aircraft would stop the airline’s operations and lead to significant losses.
Renewable energy boom stares at talent blackout
“The scale of the opportunity is something that is very exciting … but there is a lack of talent and it is one of the challenges,” said Sumant Sinha, chairman and chief executive of ReNew. In the next seven years, India will have to add 60 GW of renewable energy capacity every year to meet […]
Suzlon Energy Q4 Results: Firm posts net profit of Rs 320 crore against Rs 205.52 crore loss YoY
Wind energy solutions provider Suzlon Energy reported a consolidated net profit of INR320 crore ($42.5m) for the quarter ended 31 March. This contrasts with the same period in 2022 when it posted a net loss of INR205.52 crore ($27.4m). Total income for Q4 was INR1700 crore ($226m), a decrease from INR2478 crore ($329m) in 2022.