indian capital market
Equity markets need to be prepared for tighter monetary policies ahead
A report by Kotak Institutional Equities noted that that global central banks will have to start preparing to exit the extraordinary amounts of stimulus as economies gather steam over the next few months. The pace of 'tapering' -- reduction in asset purchase -- and rate increases by central banks will depend on inflation.
SBI may need to raise only up to Rs 9K cr in capital in FY22
Country's largest bank State Bank of India may raise only up to Rs 9,000 crore in capital through additional tier I bonds (AT1 bonds) in current financial year (FY22). Official sources said that the bank is sitting with a sound capital adequacy ratio (CAR) of 13.74 per cent and expects loan growth to touch close to 9 per cent in FY22.
India poised for highest capex in a decade
According to a note by Spark Capital, capital expenditure (capex) over the ensuing three years in core sectors ?cement, metals, oil refining and power (esp. renewables) ?should be about Rs 5 trillion. This should not only be the highest in a decade but is also likely to be more than 2X the capex over the previous three years.
High retail investments in stock market may help finance India's infra needs
"Other option for financing infrastructure that is also being explored is the InvIT (Infrastructure Investment Trusts). Government owned Financial Institutions like PFC, REC etc. are setting up InvITs and providing equity capital for new projects. These are all positive developments in the long term financing story of India," said the report authored by Soumya Kanti Ghosh, Group Chief Economic Adviser, State Bank of India.
Progcap raises $25mn funding from Sequoia Capital and Tiger Global
The company will deploy these funds to enhance its services and expand the brand's presence across existing geographies. The firm will also use the capital to scale up the team, strengthen the technology differentiation and diversify into new product offerings to fortify its vision of building a full stack digital platform for last mile retailers.
FIDC urges govt to address issues of MSME borrowers & NBFCs
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 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.
India may open derivatives market for power sector next fiscal
The introduction of derivate products has got delayed over jurisdictional issues between the Securities and Exchange Board of India (SEBI) and the Central Electricity Regulatory Commission (CERC) and a case pending in the Supreme Court also needs to be cleared. Sources privy to the development told IANS that the SEBI and the CERC have reached an understanding to allow futures trading in electricity.
PNBHF proposed capital infusion to strengthen equity buffer: Ind-Ra
According to the ratings agency, it will also provide the company with the capital needed to grow the franchisee. "PNBHF had seen heightened delinquencies and a decline in asset under management in the last two years due to a challenging operating environment amid the Covid-19 pandemic," Ind-Ra said in a report.
Wherehouse.io raises seed capital in Better Capitals-led funding round
Besides Better Capital, the other key investors were Java Capital, Titan Capital, First Cheque, and Upsparks. The first round of funding validates the rapid progress and the significant market opportunity for Wherehouse.io and shall enable it to meet the market demand that would help new age e-tailers drive revenue, said a statement by Wherehouse.io.
Centre may front load capital provisioning for PSBs this year
Sources said that PSBs may be provided this year just after their first quarter results before October. This would be a departure from the practice of previous year when bank capitalisation was undertaken late in the year and towards the end of fiscal.
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