Holcim Ltd., the world’s biggest cement maker, is considering a potential sale of businesses in India including Ambuja Cements Ltd., according to people familiar with the matter. The Swiss giant is gauging interest in its controlling stake in Ambuja, the people said, asking not to be identified as the information is private. Holcim controls 63.1% … Read more
Setting the stage for the rollout of 5G services, telecom regulator Trai on Monday mooted a mega auction plan valued at over Rs 7.5 lakh crore at the base price across multiple bands for radiowaves allocated over 30 years. Overall, the Telecom Regulatory Authority of India (Trai) recommended about a 39 per cent reduction in … Read more
Drawing upon experience in the US, the government is working on putting in place a framework for fractional shares. The plan is to democratise purchase of stocks in the country. Against the current regime where an investor has to buy at least one share of a company at the trading price, fractional shares allow an … Read more
Expecting the banking sector’s financial fundamentals to improve ahead, Moody’s in its research note said, declines in loan-loss provisions and increases in net interest margins will boost banks’ profitability. Capitalization, funding, and liquidity will be stable and support loan growth. In Moody’s opinion, banks operating environment will be stable as the economy gradually recovers from … Read more
Godrej Industries (GIL) has communicated the following – GCL, the financial subsidiary of GIL was started in 2020 and since then has been providing home loans in select geographies. It is the holding entity for Godrej Housing Finance (an HFC) and Godrej Finance Limited (an NBFC). It is currently present across Mumbai, Bengaluru, Delhi NCR, … Read more
The Reserve Bank on Friday slashed economic growth projection to 7.2 per cent for the current fiscal from 7.8 per cent estimated earlier amid volatile crude oil prices and supply chain disruptions due to the ongoing Russia-Ukraine war. However, the central bank asserted that it will use all available tools to defend the Indian economy. … Read more
In it’s quarterly operating performance update for March 2022 quarter, Paytm founder Vijay Shekha Sharma (VSS) has informed the following – Paytm should be Operating EBITDA (before ESOP cost) break-even in the next 6 quarters i.e., by September 30, 2023. During December 2021 quarter, Paytm had reported EBITDA (before ESOP cost) loss of Rs 393 … Read more
The bid has been won by the consortium led by Bandhan Financial Holdings Limited (BFHL) and includes GIC and ChrysCapital. Key factual points on the acquisition –Â BFHL is the non-operative financial holding company of the Bandhan group. It is the promoter of Bandhan bank and currently owns ~40% stake in the Bank. IDFC mutual … Read more