Mutual fund goes light on Bharti Airtel, Idea, ONGC, Cairn India

ICICI Prudential, India’s fifth biggest mutual fund by equity holdings, increased its cash holdings in May by selling most of its holdings in Bharti Airtel and much of its holdings in ONGC, Crompton Greaves, Cairn India, Hindalco and SJVN, publicly available numbers revealed. Mutual funds typically increase cash holdings when they expect share prices to […]

Manappuram Finance ties up with TTSL unit to offer online repayment for gold loans

MMP Mobi Wallet Payment Systems, a subsidiary of Tata Teleservices, announced a tie up today with Manappuram Finance, one of India’s leading gold loan NBFCs, for providing online repayment option to its customers. At present, gold loan customers have to physically go to the NBFC’s branches every month to pay interest and keep the loan […]

Bharti Airtel to issue 10-year, dollar bonds in Singapore

Bharti Airtel, India’s biggest telecom company, will raise funds by issuing ten-year, dollar-denominated bonds, the company said in a statement. The bonds are expected to be listed on the Singapore Stock Exchange, it said. They will be senior debt, but will be unsecured against the company’s assets. Bharti Airtel recently completed a long-drawn spectrum auction […]

SBI worried over weak demand, seeks rate cuts

State Bank of India, the country’s biggest bank has expressed concern over continuing weak demand in the economy due to “entrenched disinflationary impetus and weak demand,” and suggested that the RBI should cut key interest rates. While economic growth is moderately strong right now, it said, these factors will impact IIP (Index of Industrial Production) […]

Private Equity investment in India up 20% in March quarter

Private Equity firms invested about $2,646 million across 124 deals during the quarter ended March 2015, according to early data from Venture Intelligence, a research firm focused on private company financials, transactions and their valuations. The investment amount was 20% higher than that invested in the same period last year ($2,212 million across 132 transactions), […]

RBI Monetary Policy: Corporates disappointed, Financials not surprised

Reserve Bank of India governor Raghuram Rajan today kept key interest rates unchanged, even as he reduced mandatory cash-reserve requirements for banks in an effort to make more money available for lending. The broad reaction from the market – whether from corporates or financial services industry – was that the development was on expected lines. […]

Raghuram Rajan unlikely to cut repo interest rate tomorrow – Street

Almost no one in the analyst community expects Reserve Bank of India Governor Raghuram Rajan to cut key interest rates during his monetary policy review tomorrow. Rajan was widely expected to cut the repo rate, at which RBI lends to the banks, tomorrow, but the governor caught the market by surprise two weeks ago with […]

Reliance Industries, SBI to tie-up for payments bank venture

Close on the heels of Airtel tying up with Kotak Mahindra Bank, Mukesh Ambani’s Reliance Industries Ltd has announced that government-controlled State Bank of India will be its partner in its payment bank venture. The day also saw Future Group, which runs Big Bazaar, and Idea Cellular, announcing that they too have applied for payments […]