Rs 48,000 crore: India Inc’s buyback bill in 2023
Data sourced from Prime Database reveals that 48 companies spent ₹48,079 crore on buying back their stocks in 2023 – a year when the benchmark Nifty 50 appreciated over 20%. This is second only to the record of over ₹55,000 crore spent in 2017 when the benchmark index posted a return of 29%.
PSBs to step up pledged shares’ scrutiny
State-run banks in India are set to revamp their processes by creating a risk-based profitability measurement framework, which will involve more detailed scrutiny of securities pledged by high-value borrowers. The move is part of a proposed strategic roadmap until FY26 being developed in discussions between public sector banks (PSBs) and the government.
RBI proposes stricter rules for housing finance companies
The Reserve Bank of India plans to tighten deposit mobilisation rules for housing finance companies like PNB Housing Finance and LIC Housing Finance to align them with other non-banking finance companies. HFCs without investment grade credit ratings will be barred from raising public deposits. The ceiling on public deposits for compliant HFCs will be reduced […]
IT stocks advance; Wipro, HCL shine
The NSE IT Index surged 1.9% on Monday, building on Friday’s 5.4% jump in the benchmark following December quarter earnings by Infosys and TCS which were not as bleak as investors had expected.
Niva Bupa Health plans IPO to raise Rs 3,000 crore
The company, a joint venture between UK-based Bupa and the domestic private equity firm True North, has engaged investment bankers, such as Kotak Mahindra Capital, ICICI Securities, and Morgan Stanley, to manage the impending public issue, sources told ET.
Companies in rights rush, seek Rs 50,000 crore
About four dozen companies, including Indian Oil, Grasim, Tata Consumer, South Indian Bank, UPL, among others, have either declared or are contemplating rights issues to mobilise funds amounting to more than ₹50,000 crore.