Moody's Investors Service on Monday said higher interest rates have increased repayment amounts and limited refinancing options for SME borrowers who have availed loans against property, heightening default risk for these loans. "Even if the RBI were to keep rates on hold from here, the repayment amounts will weigh on SME borrowers' capacities to repay [...]
The wholesale price-based inflation eased to a 29-month low of 1.34 per cent in March on easing prices of manufactured products and fuel items, even though food articles turned costly. March is the 10th straight month when wholesale price index (WPI) based inflation has declined. The inflation was 3.85 per cent in February and 14.63 [...]
As many as 25 startups have evinced interest to sign memorandums of understandings with the Centres of Excellence that were inaugurated by Chief Minister M K Stalin, the Tamil Nadu government said on Sunday. The startups under the state government's 'Olir' (shine) initiative would be able to grow faster by utilising the state-of-the-art multi-sector Industry [...]
Public sector banks (PSBs) have set a target for the sale of flagship government insurance schemes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) in FY24. Besides, they have also set goals for other financial inclusion schemes like Mudra Yojana and StandUp India Scheme. There are about 8.3 crore [...]
The country's largest IT services company TCS will continue investing in research and innovation, office spaces and technology infrastructure at the same pace even as it wades through near-term volatilities, a senior official has said. The company's promise to continue with the normal wage hikes will hit the operating profit margins by a further 1.70-1.75 [...]
Equity benchmark indices tumbled in early trade on Monday after nine days of rally, dragged down by index major Infosys, which fell nearly 12 per cent after lower-than-expected revenue growth guidance for FY24. Weak trends in other IT counters also pulled the benchmark lower. The 30-share BSE Sensex tanked 677.86 points to 59,753.14 in early [...]
Global investment firm Blackstone-sponsored Nexus Select Trust is likely to launch India's first retail REIT public offer in early May to raise up to Rs 4,000 crore. In November last year, Nexus Select Trust filed the draft red herring prospectus (DRHP) with market regulator Sebi to launch its retail REIT (Real Estate Investment Trust). Nexus [...]
To facilitate a seamless entry process for vehicles into the forest area, Indian Highways Management Company Limited (IHMCL) has inked a pact with the Nagarjunasagar-Srisailam Tiger Reserve spread across Andhra Pradesh and Telangana, according to an official statement. IHMCL is a company incorporated by the National Highways Authority of India (NHAI) to carry out electronic [...]
With most non-bankers reaching the maximum funding cap from banks, their projected 16 per cent loan growth may be impacted, leading to margin compression for the sector this fiscal, according to a report. Bank funding to NBFCs has grown rapidly to Rs 13.1 lakh crore in February 2023 from a low Rs 3.9 lakh crore [...]
India's new gas pricing regime will offer greater downside protection for earnings of gas companies such as Oil and Natural Gas Corp (ONGC) and Oil India Ltd, S&P Ratings said on Friday. The new norms will not affect the pricing for gas produced from difficult fields that companies like Reliance Industries Ltd operate. Under the [...]
