DEBT PURCHASES
Maharashtra govt set to clear Reliance Infrastructure arm's Rs 1,700 cr metro debt
The Eknath Shinde government appears to have abandoned its plans to acquire Metro 1. Instead, the state cabinet has directed the MMRDA's executive committee to explore settling Mumbai Metro One Pvt Ltd's (MMOPL) Rs 1,700 crore debt with its creditors through a one-time settlement. Metro 1, Mumbai's oldest corridor serving 4.6 lakh daily passengers, operates under a public-private partnership by the Reliance Infrastructure-promoted MMOPL, with MMRDA holding a 26% stake and R-Infra holding 74%.
Budget 2024: Will the indexation benefit on debt mutual fund be back?
Budget 2024: Due to inflation and taxes the real returns of debt mutual funds have turned negative in some cases. Earlier the government used to give indexation benefit on LTCG generated from sale of debt mutual funds, however now this benefit is removed. Will the government reconsider its decision for indexation benefit on debt mutual funds?
India’s long bonds have become a crowded trade, Edelweiss warns
Edelweiss Government Securities Fund excels in performance, positioning itself as a market leader. Foreign investors' sustained involvement in Indian sovereign bonds is still uncertain, impacting market dynamics.
Puravankara aims to secure 20 million square feet of land by the end of the fiscal year
Puravankara's strategic plans include reducing net debt, optimizing debt costs, and utilizing its extensive land bank for future expansion and growth, as announced by the Group CEO. The company is focused on enhancing revenue from key markets like Bangalore and exploring new funding sources through AIFs, aligning with its goal of sustained growth and development.
No livelihood and caught in debt trap, weavers resort to 'suicide' in Telangana's textile hub
The 'recent' suicide' of a weaver at Sircilla in Telangana has brought to the fore the alleged lack of work and adequate income in this textile hub, with the issue leading to a war of words between the opposition BRS and the Congress. Kudikyala Nagaraju recently died by suicide as he was unable to repay his debts and this came as a reminder of the tragedy of weavers ending their lives in the past.
Household debt needs to be kept under watch
"With overall household savings declining to 18.4% of GDP (gross domestic product) in FY23 from an average of 20% of GDP over 2013-2022, and coupled with an increasing trend in financial liabilities, household debt warrants close monitoring from a financial stability perspective," the Reserve Bank of India (RBI) said in its latest Financial Stability Report released on Wednesday.
- Go To Page 1
Reports: Michael Jackson was deeply indebted when he died. Know about amount and reasons for his financial woes
Michael Jackson's death in 2009 revealed his deep financial troubles, including over $500 million in debt. His extravagant lifestyle and legal battles worsened his situation.
Fall in Household Financial Savings actually a worry
The Reserve Bank of India has warned that household debt needs close monitoring due to a decline in overall household savings to 18.4% of GDP in FY2022-23, and an increasing trend in financial liabilities. The share of net financial savings in total household savings has been declining, with 28.5 per cent in 2022-23.
BigBasket, 1mg’s plans for capex; win for epharmacies in Madras HC
Tata’s online grocery BigBasket and epharmacy 1mg will largely depend on debt capital to fuel expansion this fiscal. More on this in today’s ETtech Morning Dispatch.
Gilts to shine brighter from tomorrow
JP Morgan will include 27 fully accessible Indian government bonds in its GBI-EM global index suite starting June 28, allowing global investors to deploy funds in these bonds.
B2B fashion platform Zyod raises $18 million in funding
Zyod's equity funding round was led by venture firm RTP Global, while the debt capital came from Stride Ventures, Trifecta Capital and Alteria Capital. In April last year, Zyod had raised $3.5 million in a funding round led by Lightspeed Venture.
JM Financial shares fall 5% on SEBI ban from managing debt public issues
Shares of JM Financial declined by 5% to Rs 83 during Friday's intraday trading on the BSE. This drop followed a decision by the markets regulator SEBI on Thursday, confirming interim measures to prohibit the company from serving as a lead manager for public issues of debt securities until March 31, 2025.
Sebi confirms interim direction; bans JM Financial from managing debt public issues till Mar 2025
SEBI confirmed restrictions on JM Financial, barring it from leading debt issuances until 2025. The firm also pledged to discontinue its subsidiary's IPO financing business.
FPIs’ G-Sec purchases cross $10-billion mark
Nine months after JP Morgan announced the inclusion of Indian government debt in its emerging markets index, foreign portfolio investors have increased their ownership of sovereign bonds by over $10 billion. The influx of funds is expected to continue as India's index weightage grows.
4 easy ways to repay a huge credit card bill
Credit cards can be a useful tool for financial management, but overspending can lead to challenging debts. Here are tips to efficiently pay credit card bills.
Suzlon is all renewed energy with a book full of orders & free of debt
Suzlon Energy, a key player in India's renewable energy sector, saw a remarkable turnaround in FY24. The company became debt-free, increased its order book, and revamped leadership under CEO JP Chalasani.
Franklin Templeton Mutual Fund and Nippon India Mutual Fund file drafts for new funds
Franklin Templeton Mutual Fund and Nippon India Mutual Fund have filed draft documents with Sebi for three debt funds and two index funds.
Vodafone Idea must clear Indus Towers dues to avail tower company's new services: Sunil Mittal
Bharti Airtel chairman Sunil Mittal emphasized that Vodafone Idea must settle all past dues with Indus Towers to access new services like 5G. However, Mittal mentioned that the Indus board will remain flexible with its decisions even if Vi makes a significant payment and provides a schedule for the remaining amount. Airtel is a major stakeholder in Indus Towers.
FPI buying of debt via voluntary retention route gathers pace
Foreign holdings in India's debt market have surged, with FPI investment in the voluntary long-term route hitting $508 million in May. Recent deals by companies like Vedanta and Nirma have contributed to the rise, with market players expecting further activity as Indian sovereign debt joins a JP Morgan index.
Expect debt to remain stable; won't reduce significantly this year: TV Narendran, Tata Steel
So, this year is going to be a very crucial year, turnaround in Netherlands, last year was a loss, this year will be a profit at least at an EBITDA level and the UK second half we hope to move from a loss making facility to at least a balanced facility.
I received Rs 18 lakh from sale of ancestral property. Where should I invest this money for the next 3-5 years?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Shanghai lifts home-buying curbs to boost property sector
Shanghai eases property buying rules amidst a real estate crisis, reducing residency requirement to 3 years and minimum down payment to 20% for commercial housing mortgages.
India's long-term bonds attract foreign investors as JPMorgan index inclusion nears
Overseas investors are buying longer-duration Indian government bonds in anticipation of inclusion in JPMorgan's emerging market debt index, expecting significant passive flows. Bonds with maturities of 10 years and more, notably the 7.18% 2033 and 7.30% 2053, have attracted foreign ownership amidst net selling of government bonds in recent weeks.
Avigna to raise Rs 1,000 crore for expansion plans, debt reduction
Bengaluru's Avigna plans to raise Rs 1,000 crore through an AIF for expansion and debt repayment. The AIF, including a greenshoe option, will focus on stabilized assets. Avigna aims to develop 10 million sq ft of warehousing assets in southern India, targeting robust industry growth amidst economic recovery post-Covid-19.
Despite $125 billion debt, why is Pakistan increasing its defence budget to 18000 crore rupees
Pakistan faces economic strain with a $124.5 billion foreign debt, 42% of its GDP. It boosts military capabilities through major arms imports, mainly from China, accounting for 82% from 2019 to 2023. Despite economic woes, it increases defense spending by 15.4% in the national budget, totaling 18000 crore Pak rupees. This military expansion includes submarines from China. Reports suggest Pakistan may have secretly supplied arms to Ukraine, contradicting its neutrality stance. Public discontent grows due to economic hardships and perceived military dominance in resource allocation.
Bajaj Finserv Mutual Fund launches Multi Asset Allocation Fund
The scheme will be benchmarked against 65% Nifty 50 TRI + 25% NIFTY Short Duration Debt Index + 10% Domestic Prices of Gold. Nimesh Chandan and Sorbh Gupta (equity investments), Nimesh Chandan and Siddharth Chaudhary (debt investments) and Vinay Bafna (commodities investments) will manage this fund.
Two Chinese megacities lift home purchase curbs to attract buyers
Hangzhou and Xian lifted home purchase limits to revive the real estate market impacted by the pandemic and borrowing rules. The move aims to attract buyers and support the sector, following a decline in prices.
Ambani-Adani strategic collaboration: Reliance to acquire 26% stake in 600MW Mahan Energen power unit for Rs 50 crore
Mahan Energen has agreed to allot 50 million equity shares of Rs 10 face value each to RIL at par, Reliance said in a regulatory filing. “The proposed investment by the company is in compliance with the provisions of the Electricity Rules, 2005,” it said. RIL did not disclose any specific purpose for signing the power purchase agreement.
Adani Power subsidiary enters into PPA with Reliance Industries
The company said the loan consolidation under a consortium financing arrangement comprising eight lenders became possible with the amalgamation of its six special purpose vehicles (SPVs) after the credit rating of Adani Power Limited (APL) was enhanced to AA-.
Load More
