Finance

Oman India Joint Investment Fund backs NBFC Annapurna Finance

Bhubaneswar-based non-banking financial company (NBFC) Annapurna Finance Pvt. Ltd has raised Rs 155 crore ($23 million) from mid-market private equity firm Oman India Joint Investment Fund (OIJIF). OIJIF is a joint venture of Oman’s State General Reserve Fund and State Bank of India. The firm said in a statement that the infusion was part of OIJIF’s commitment to invest Rs ... Read More »

Real Vision, a media platform for finance and business, raises $10 million

  Real Vision is entering the crowded business and financial new space with a bang. The company, which recently raised a $10 million Series B after a $5 million A round, is working on a number of new initiatives including distribution on Apple TV, a content distribution partnership with Thomson Reuters and an upcoming documentary on PBS. The documentary, “A World ... Read More »

Rupee weakens against US dollar

The 10-year bond yield stood at 7.827%, down from its Friday’s close of 7.833%. Photo: Bloomberg Mumbai: The Indian rupee on Monday weakened marginally against the US dollar on worries of higher crude oil prices and tracking losses in Asian currencies. At 2.10pm, the rupee was trading at 68.08 against the US dollar, down 0.10% from its previous close of 68.01. ... Read More »

Just a third of credit-worthy consumers tapped by banks: Cibil report

This segment of eligible consumers promises retail lending opportunities for banks through products such as credit cards, personal loans and consumer durable loans. Photo: iStock Mumbai: Even after the increased focus on retail loans for a decade, banks and other lending institutions have been able to tap only into a third of the estimated 220 million credit-eligible consumers, a report said. ... Read More »

NSE to delist Kingfisher Airlines, 17 others from 30 May

Kingfisher Airlines is the defunct airline of fugitive Vijay Mallya. NSE’s delisting move comes after BSE delisted over 200 companies from 11 May as trading in their shares remained suspended for over six months. Photo: Ramesh Pathania/Mint New Delhi: National Stock Exchange has decided to delist Vijay Mallya-promoted Kingfisher Airlines Ltd and Plethico Pharmaceuticals Ltd and 16 other companies from 30 ... Read More »

Invest in elss Sukanya Yojana and secure your girls future

SukanyaSamriddhiYojanais anelss (Equity-linked savings scheme) backed by the government of India. It was launched in 2015 by honourable PrimeMinister Narendra Modi under the betibachao, betipadhaocampaign. The rate of interest in elss investment is 8.1% under this scheme and tax benefits are also given. One can open an account at any post office. Basic information about the account The account can ... Read More »

SRF shares tank 14% as profit falls on finance & depreciation cost, debt increases

Shares of chemicals firm SRF plunged by as much as 14 percent on Friday after the company reported a decline in its March quarter net profit and an increase in its debt. The company’s net profit for the March quarter fell 4 percent year on year to Rs 124 crore, dented by higher finance and depreciation costs. Revenue from operations grew 21.5 percent ... Read More »

US Fed goes for 25bps rate hike in Jerome Powell’s 1st meeting as chairman

Jerome Powell, chairperson of the US Federal Reserve. The vote for an interest rate hike to 1.5% to 1.75% was a unanimous 8-0. Photo: Bloomberg New York: US Federal Reserve officials, meeting for the first time under chairman Jerome Powell, raised the benchmark lending rate a quarter-point and forecast a steeper path of rate hikes in 2019 and 2020, citing an ... Read More »

After years of shunning fixed maturity plans, Franklin Templeton re-enters the segment

Among the top 15 fund houses in terms of fixed income assets, 78.9% of Franklin Templeton’s fixed income assets lie in securities rated AA & lower; the most in such companies. What is special about Franklin Templeton Asset Management (India) Ltd launching a new fixed maturity plan (FMP)? On 20 March, it launched a new fund called Franklin India Fixed ... Read More »

Rupee trades higher against US dollar

The 10-year bond yield was at 7.595% compared to its previous close of 7.583%. Photo: Reuters Mumbai: The Indian rupee and Asian currencies on Thursday strengthened against US dollar after the Federal Reserve stuck to its outlook of three rate hikes this year. At 2pm, the home currency was trading at 65.05 a dollar, up 0.26% from its Wednesday’s close of ... Read More »