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Disclaimer : This channel DOES NOT provide any stock market related advice or recommendation
All the posts appearing in the channel are only for educational and informational purposes.
ALL RIGHTS RESERVED !!!
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Market Wizard
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Disclaimer : We are not SEBI Registered. Please consult your financial advisor before investing.
All the posts appearing in the channel are only for educational and informational purposes.
ALL RIGHTS RESERVED!!!
Disclaimer : We are not SEBI Registered. Please consult your financial advisor before investing.
All the posts appearing in the channel are only for educational and informational purposes.
ALL RIGHTS RESERVED!!!
Financial News Bulletin Dt.21st June, 2021 forwarded by Allahabad Bank Employees' Union-APTS- affiliated to All India Bank Employees' Association (AIBEA)
The Finance Industry Development Council (FIDC) has urged the Ministry of Micro, Small & Medium Enterprises (MSME) to address issues faced by MSME borrowers and the NBFCs catering to these enterprises. The industry body of retail NBFCs had a virtual meeting with Nitin Gadkari, the Minister of MSMEs on June 15. On Friday, FIDC wrote to the minister outlining the needs of the sector. FIDC in its letter has requested the loop minister to include wholesale and retail trade in the list of activities allowed for registration as MSME and also make consequent changes to the 'Udyam' portal.
-Business Standard
Bank of Maharashtra has become top performer among public sector lenders in terms of retail and MSME loan growth during 2020-21. The bank recorded a 35% growth in MSME loans at Rs 23,133 Cr in 2020-21, according to the Bank of Maharashtra data. It was followed by the Indian Bank which posted a 15.22% growth in loan disbursal to MSMEs with aggregate loans at Rs 70,180 crore at the end of March 2021. When it came to loans to retail, Bank of Maharashtra with nearly 25.61% growth was ahead of even the SBI which recorded 16.47% rise.
-Business Standard
Karnataka Bank has declared accounts of Reliance Home Finance and Reliance Commercial Finance a fruad with combined loan outstandings of over Rs 160 Cr to the lender. The bank has reported to the RBI regarding frauds in the credit facilities extended earlier to two listed companies -- Reliance Home Finance with loan outstanding of Rs 21.94 Cr and Reliance Commercial Finance Rs 138.41 Cr as fraud, Karnataka Bank said in a regulatory filing.
-Economic Times
The joint venture floated by Centrum Group and digital payments startup Bharatpe for launching a small finance bank will infuse Rs 1,800 Cr capital into troubled Punjab & Maharashtra Cooperative Bank (PMC) on its merger with the proposed bank, a top Centrum official has said.
-Economic Times
Mumbai-based NBFC Authum Investment and Infrastructure has been declared as the preferred bidder for Anil Ambani's debt laden Reliance Home Finance with over 90% of the creditors voting for the Co. Saturday was the last date for the voting which started on May 31 and creditors which included private and public sector banks and bondholders selected Authum to take over the Co.
-Economic Times
SEBI has asked mortgage lender PNB Housing Finance to temporarily halt its proposed share sale programme. On 31 May, investors led by Carlyle Group announced an investment of ₹4,000 Cr in PNB Housing Finance.
-Livemint
The Centre has extended the tenure of appointment of Ananta Barua as Whole-time Member of the SEBI for a period of two years beyond July 31.
-Business Line
Worried by rising claims and low premium, insurers have approached the IRDAI for a re-pricing of the Corona Kavach and Corona Rakshak policies. Insurers point out that these low ticket policies were expected to be for a short duration, but with the pandemic continuing, they are turning out to be expensive propositions for them and hitting their balance sheets.
-Business Line
Foreign portfolio investors (FPIs) pumped in a net Rs 13,667 Cr so far in June as Indian markets continued to remain attractive to overseas investors. However, market experts noted that FPIs withdrew money from Indian equities this week. According to depositories data, FPIs invested Rs 15,312 Cr in equities between June 1 and June 18.
-Moneycontrol.com
4 of the top 10 most valued firms cumulatively added Rs 68,458.72 Cr in market capitalisation (m-cap) last week. SBI's valuation diminished by Rs 14,948.73 Cr to Rs 3,68,407.96 Cr and that of HDFC declined Rs 12,796.03 Cr to Rs 4,49,176.18 Cr. The market capitalisation of Kotak Mahindra Bank dipped Rs 6,908.63 Cr to Rs 3,49,019.23 Cr and that of ICICI Bank dived Rs 3,644.88 Cr to Rs 4,36,390.78 Cr.
The Finance Industry Development Council (FIDC) has urged the Ministry of Micro, Small & Medium Enterprises (MSME) to address issues faced by MSME borrowers and the NBFCs catering to these enterprises. The industry body of retail NBFCs had a virtual meeting with Nitin Gadkari, the Minister of MSMEs on June 15. On Friday, FIDC wrote to the minister outlining the needs of the sector. FIDC in its letter has requested the loop minister to include wholesale and retail trade in the list of activities allowed for registration as MSME and also make consequent changes to the 'Udyam' portal.
-Business Standard
Bank of Maharashtra has become top performer among public sector lenders in terms of retail and MSME loan growth during 2020-21. The bank recorded a 35% growth in MSME loans at Rs 23,133 Cr in 2020-21, according to the Bank of Maharashtra data. It was followed by the Indian Bank which posted a 15.22% growth in loan disbursal to MSMEs with aggregate loans at Rs 70,180 crore at the end of March 2021. When it came to loans to retail, Bank of Maharashtra with nearly 25.61% growth was ahead of even the SBI which recorded 16.47% rise.
-Business Standard
Karnataka Bank has declared accounts of Reliance Home Finance and Reliance Commercial Finance a fruad with combined loan outstandings of over Rs 160 Cr to the lender. The bank has reported to the RBI regarding frauds in the credit facilities extended earlier to two listed companies -- Reliance Home Finance with loan outstanding of Rs 21.94 Cr and Reliance Commercial Finance Rs 138.41 Cr as fraud, Karnataka Bank said in a regulatory filing.
-Economic Times
The joint venture floated by Centrum Group and digital payments startup Bharatpe for launching a small finance bank will infuse Rs 1,800 Cr capital into troubled Punjab & Maharashtra Cooperative Bank (PMC) on its merger with the proposed bank, a top Centrum official has said.
-Economic Times
Mumbai-based NBFC Authum Investment and Infrastructure has been declared as the preferred bidder for Anil Ambani's debt laden Reliance Home Finance with over 90% of the creditors voting for the Co. Saturday was the last date for the voting which started on May 31 and creditors which included private and public sector banks and bondholders selected Authum to take over the Co.
-Economic Times
SEBI has asked mortgage lender PNB Housing Finance to temporarily halt its proposed share sale programme. On 31 May, investors led by Carlyle Group announced an investment of ₹4,000 Cr in PNB Housing Finance.
-Livemint
The Centre has extended the tenure of appointment of Ananta Barua as Whole-time Member of the SEBI for a period of two years beyond July 31.
-Business Line
Worried by rising claims and low premium, insurers have approached the IRDAI for a re-pricing of the Corona Kavach and Corona Rakshak policies. Insurers point out that these low ticket policies were expected to be for a short duration, but with the pandemic continuing, they are turning out to be expensive propositions for them and hitting their balance sheets.
-Business Line
Foreign portfolio investors (FPIs) pumped in a net Rs 13,667 Cr so far in June as Indian markets continued to remain attractive to overseas investors. However, market experts noted that FPIs withdrew money from Indian equities this week. According to depositories data, FPIs invested Rs 15,312 Cr in equities between June 1 and June 18.
-Moneycontrol.com
4 of the top 10 most valued firms cumulatively added Rs 68,458.72 Cr in market capitalisation (m-cap) last week. SBI's valuation diminished by Rs 14,948.73 Cr to Rs 3,68,407.96 Cr and that of HDFC declined Rs 12,796.03 Cr to Rs 4,49,176.18 Cr. The market capitalisation of Kotak Mahindra Bank dipped Rs 6,908.63 Cr to Rs 3,49,019.23 Cr and that of ICICI Bank dived Rs 3,644.88 Cr to Rs 4,36,390.78 Cr.
HDFC Bank's valuation eroded by Rs 3,503.96 Cr to reach Rs 8,16,587.81 Cr and that of Bajaj Finance dipped Rs 1,901.32 Cr to Rs 3,67,425.99 Cr. In the ranking of top-10 most valued firms, RIL maintained its numero uno status, followed by TCS, HDFC Bank, Infosys, HUL, HDFC, ICICI Bank, SBI, Bajaj Finance and Kotak Mahindra Bank. During the last week, the 30-share BSE benchmark Sensex declined 130.31 points or 0.24%.
-Business Today
-Business Today
Among financials, go for midsize, corporate facing banks: Chakri Lokapriya
https://economictimes.indiatimes.com/markets/expert-view/among-financials-go-for-midsize-corporate-facing-banks-chakri-lokapriya/articleshow/83639242.cms
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https://economictimes.indiatimes.com/markets/expert-view/among-financials-go-for-midsize-corporate-facing-banks-chakri-lokapriya/articleshow/83639242.cms
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The Economic Times
Among financials, go for midsize, corporate facing banks: Chakri Lokapriya
“Today financials are in a far stronger place than they were even pre pandemic and therefore whenever the economy revives, the banks are more ready to lend either to the corporate consumer or even the government for that matter. Consumer facing private sector…
Consumer demand may rebound strongly in Q2: Trent chairman Noel N Tata
https://mybs.in/2ZfCf6g
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Business-Standard
Consumer demand may rebound strongly in Q2: Trent chairman Noel N Tata
Trent will continue to focus on building out differentiated brands and accelerating its reach through stores and digital platforms, said Noel Tata
Viacom18 and Zee Entertainment in early merger talks
https://www.livemint.com/companies/news/viacom18-and-zee-entertainment-in-early-merger-talks-11624212805434.html
https://www.livemint.com/companies/news/viacom18-and-zee-entertainment-in-early-merger-talks-11624212805434.html
mint
Viacom18 and Zee Entertainment in early merger talks
The merger of Viacom18 and Zee is proposed to be done through a share swap deal. The talks started a few weeks ago, and the deal is unlikely to involve any cash transaction
Decision over flex-fuel engines in 8-10 days, says Nitin Gadkari
https://economictimes.indiatimes.com/industry/renewables/decision-over-flex-fuel-engines-in-8-10-days-says-nitin-gadkari/articleshow/83693170.cms
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https://economictimes.indiatimes.com/industry/renewables/decision-over-flex-fuel-engines-in-8-10-days-says-nitin-gadkari/articleshow/83693170.cms
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The Economic Times
Decision over flex-fuel engines in 8-10 days, says Nitin Gadkari
"I am transport minister, I am going to issue an order to the industry, that only petrol engines will not be there, there will be flex-fuel engines, where there will be choice for the people that they can use 100 per cent crude oil or 100 per ethanol," he…
Ahead of AGM, buzz over possible Aramco rep on RIL board and $15-bn deal update
https://www.livemint.com/companies/news/ahead-of-agm-buzz-over-possible-aramco-representative-on-ril-board-and-15-bn-deal-update-11624184615957.html
https://www.livemint.com/companies/news/ahead-of-agm-buzz-over-possible-aramco-representative-on-ril-board-and-15-bn-deal-update-11624184615957.html
mint
Ahead of AGM, buzz over possible Aramco representative on RIL board and $15-bn deal update
There is also expectation of some update on Saudi Aramco deal and speculation that the Chairman of Saudi Aramco may join RIL's board
Investors to look at EMs once Covid's worst is behind: Andrew Holland
https://mybs.in/2ZfCDXn
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Business-Standard
Investors to look at EMs once Covid's worst is behind: Andrew Holland
Housing and retail sales in the US are already starting to fall, CEO Holland