FUNDS RECOVERY
Why has Kotak re-initiated inflows into smallcap fund? Harish Bihani explains
There is FOMO in certain sectors and themes across caps and not only in smallcaps. Harish Bihani thinks there is scope for identifying ideas and deploying large sums of money in the smallcap category. The probability of any event specific to India disrupting the market is low at this point and they thought that it was an opportune time to reopen the fund
Sri Lanka reaches deal on debt restructuring with bilateral creditors including India, China and France
Sri Lankan President Ranil Wickremesinghe announced a debt restructuring deal with India, France, Japan, and China, a critical step in economic recovery after the 2022 debt default. Under an IMF bailout program, the agreement is expected to revive stalled foreign projects. Sri Lanka declared bankruptcy in 2022 due to economic mismanagement, COVID-19 impacts, and tax cuts. The deal defers loan payments until 2028 and extends repayment until 2043. Supporters celebrated the announcement in Colombo as it promises to restart crucial infrastructure projects.
Nvidia, megacaps power strong Nasdaq recovery; Dow pulls back
AI chip firm Nvidia soared 6%, recovering some of the steep losses it had notched in three consecutive declining sessions. At current levels, the stock is still 12% away from last week's record high. The Dow pulled back from a one-month high hit on Monday, while the small-cap Russell 2000 index also lost some steam.
Will prefer to focus on domestic sectors vs external facing sectors: Sunil Koul
I mean there is obviously the broader structural kind of under penetration story behind it, but I think the sector had not done well in the last a couple of years because of these issues and both in terms of numbers but also in terms of the regulatory overhang.
ARCs to see recoveries improve from stressed residential projects
ARC expected to see 5-7% increase in recovery rates of stressed residential projects. Recovery rates to reach 16-18% by March 2025 due to rising prices, demand, and investor interests.
Higher property prices, changes in law to boost debt recovery from stressed realty projects: Report
The recovery of debt from stressed residential realty projects is expected to increase in the current financial year due to rising property prices and regulatory changes. Crisil forecasts a bad loan recovery rate of 16-18% by FY25, driven by improved project viability, strong demand, and investor interest. Recent amendments to IBBI regulations are also seen boosting real estate asset resolution. With residential realty demand projected to grow by 10-12% and low unsold inventories, ARCs are expected to expedite the turnaround of stressed projects.
ARCs to see 5-7% higher recoveries from residential realty in FY25: CRISIL Ratings
Additionally, recent amendments to the Insolvency and Bankruptcy Board of India (IBBI) regulations are expected to expedite the resolution of stressed real estate assets in the medium term, enhancing the overall recovery process for ARCs.
Mark Mobius turns bullish on Chinese stocks amid recent rally
Mark Mobius turned bullish on Chinese equities, citing confidence in the recent rebound after advising investors to avoid them in April.
IMF upgrades China's 2024, 2025 GDP growth forecasts but warns of risks ahead
"China's economic growth is projected to remain resilient at five percent in 2024 and slow to 4.5 percent in 2025," the IMF said in a press release, adding the decision was "driven by strong first-quarter GDP data and recent policy measures".
UK recovering faster than expected after slipping into technical recession: IMF
The UK economy is approaching a soft landing, with a recovery in growth expected in 2024, strengthening in 2025, IMF said. Soft landing in economic parlance is managing inflation at comfortable levels without hurting economic growth.
IDBI SASF gets 18 offers for bad loans
IDBI Bank's Stressed Assets Stabilisation Fund (SASF) aims to recover 11.59% by selling non-performing loans worth ₹6,151 crore.
Wallet recovery firms buzz as locked-out crypto investors panic in bitcoin boom
Losing access to a crypto wallet is a well-known problem. Investors forgetting their intricate passwords is a primary reason, but loss of access to two-factor authentication devices, unexpected shutdowns of cryptocurrency exchanges and cyberattacks are also common
Asia stocks brace for US inflation test, China data
Beijing has already reported a welcome pickup in inflation to an annual 0.3% in April, helping to soothe worries about a slide into prolonged deflation. Forecasts favour further gains in April retail sales and industrial output due on Friday.
Paytm shares plummet 5%, hit all-time low as lending partners invoke loan guarantees
Paytm Share Price: Paytm shares plummeted to an all-time low after Aditya Birla Finance invoked loan guarantees due to repayment defaults. Other partners like Piramal Finance and Clix Capital have also terminated their partnerships, reflecting stress in Paytm's lending business amidst regulatory actions and market conditions.
Buy industrials on dips; top 2 bets in two-wheeler space: Deven Choksey
Deven Choksey highlights the importance of market corrections for safe investments. He advises on potential buy opportunities in companies like Tata Technology, Reliance, Tata Power during corrections for better returns.
Aditya Birla Finance, others may have invoked Paytm’s loan guarantees
Aditya Birla Finance invoked loan guarantees from Paytm due to defaults. Partnership stress with other lenders. Paytm's lending business faces challenges post central bank's ban. Changes in top management. Reduced consumer loan portfolio to less than 1%.
Indian Bank aims to make over Rs 1 lakh crore digital transactions: MD & CEO Shanti Lal Jain
Indian Bank on Monday reported a 55 per cent jump in its net profit to Rs 2,247 crore for the January-March 2024 quarter as compared to a net profit of Rs 1,447 crore made last year.
No green shoot of recovery in FMCG space; valuation a challenge in capital goods and manufacturing space: Rahul Singh
Rahul Singh from Tata Mutual Fund evaluates the impact of US rate cuts, India rate cut consensus, inflation rate matrix, real estate demand, monsoon correlation, rural economy recovery, and valuation challenges in manufacturing sector. Singh says: "You have to be more patient and you have to hunt for those companies or stocks where the valuations are still reasonable."
Scrap the 'wilful defaulter' tag: Indian banks' transformation from cheque cashing to digital dash, but with a laggard
Many laws governing the banking industry have also evolved to accommodate rapid changes that are driving innovation at breakneck speed. However, some attitudes among bankers and regulators have lagged behind, and don't reflect the digital age. One such laggard is the 'wilful defaulter' label. This classification is unique to India among all big economies, and it defies logic in the era of data analytics and AI. A wilful defaulter is a borrower with enough money but isn't repaying banks. The dubious category also includes those that siphoned funds and left businesses high and dry.
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