Anil Ambani, the chairman of Reliance Infrastructure and Reliance Power, told shareholders at a virtual annual general meeting (AGM) on Tuesday that promoters would increase the stake in the two companies. Ambani also informed shareholders that Reliance Power had refrained from availing a moratorium on its loans, calling the moratorium a ‘financial penalty’. “The promoters … Read more
Moody’s downgrades India’s sovereign rating to ‘Baa3’ from ‘Baa2’ with negative outlook. This is one shot away from non investment grade – though it’s unlikely that would happen. It’s also reasonable to expect that in all likelihood, S&P will follow soon. They are currently one step higher at BBB- with stable outlook. Mostly, they would … Read more
A welcome move by SEBI – provides a liquidity mechanism to stuck investors.
SEBI has tweaked its rules and allowed Franklin Templeton India to list its six shut schemes on the stock exchanges to provide an alternative exit option to 300,000 investors of these schemes. Franklin Templeton had wound up six debt schemes on 23 April with total assets under management (AUM) of ₹25,856 crore. The units of … Read more
HDFCMF in a filing yesterday evening to the Stock Exchanges, declared that it is providing a liquidity support to its Fixed Maturity Plan (FMP) Schemes that hold Essel Group debt. The support has been capped at Rs 500 crore. Checkout the actual filing made here – 1. At what value Whereas in the filing it’s … Read more