Arm’s stellar listing sets the stage for more SoftBank acquisitions
Whether or not Son resumes a feverish pace of acquisitions, having shares in Arm publicly listed will allow SoftBank to more easily use the stock as collateral, will likely improve its credit rating for better borrowing terms and help it take out the margin loans Son favours, analysts say.
Dharani Sugars bid puts ARCs on par with NARCL
Private asset reconstruction companies (ARCs) in India are now on an equal footing with the government-owned bad bank NARCL. This comes after private ARCs sought clarification on how to compute the net present value (NPV) based on the initial bid of ₹235.9 crore in the Dharani Sugars case. Banks responded by stating that the comparison […]
Asset reconstruction cos urge RBI to let rich individual investors bet on security receipts of stressed assets
The ARCs have recently made a pitch to the Reserve Bank of India (RBI) to let wealthy investors subscribe to and trade in ‘security receipts’ (SRs) which are issued by ARCs to part-pay for loan portfolios bought from banks. These receipts are closest to ‘junk bonds’ in the emerging Indian financial market for stressed loans.
Nifty could hit 20,600 on crossing 20,400: Analysts
The high-flying midand small-cap index closed in the red, and both the indices are due for some consolidation. We can expect stock-specific action during the week.
What to do if you have Rs 20 lakh to invest now
For moderately conservative investors, they suggest 50% exposure to equities and 50% allocation to gold and fixed income would still be a good option. Within equities, they are recommending index funds, or flexicap funds for large-cap allocations. Given the sharp run-up in mid and small cap stocks, investors should avoid lump sums in such schemes […]
Dhanlaxmi Bank independent director resigns citing differences from other board members
The director, Sridhar Kalyanasundaram, who was appointed to the board in December last year, wrote a tell-all resignation letter to the board detailing his differences regarding rights issue of shares, complained of lack of support from other board members and raised concerns over their ‘lack of in depth banking knowledge’.
Future Retail’s creditors extend voting timeline on SpaceMantra’s bid to Sept 30
The committee of creditors (CoC) for Future Retail (FRL) has extended the voting period once again as they are undecided on whether to approve a low offer from SpaceMantra or opt for liquidation. The creditors have until September 30 to make a decision. SpaceMantra is the only bidder to acquire FRL, offering a recovery of […]
Death toll from Morocco earthquake rises to 2,122
A massive earthquake that struck central Morocco has resulted in at least 2,122 deaths and 2,421 injuries, according to the Moroccan Interior Ministry. The most affected areas in the Atlas Mountains region are difficult to reach due to blocked roads, hindering rescue efforts. The World Health Organization estimates that over 300,000 people have been affected […]
Pakistan struggles to pay salaries to overseas diplomatic staff due to dollar shortage
The Pakistani government is facing a cash shortage, resulting in delayed salaries for staff at certain diplomatic missions. Press attaches and press counsellors stationed in the US, Hong Kong, and Singapore have not received salaries since June due to the country’s depleted foreign exchange reserves. This poses a significant challenge for officials in expensive cities […]
China slams UK spying reports as ‘political farce’
China has criticized media reports accusing a man arrested on suspicion of espionage of gathering intelligence for Beijing, calling the claim a “political farce.” The man was arrested in Edinburgh for spying, and the arrests have raised concerns about China’s “interference” in democracy. The Chinese embassy in London dismissed the reports as “malicious slander” and […]