Articles for tag: Aditya, Bank, Brighter, Financial, Future, Hopeful, insolvency, Khaitan, McLeod, Remains, Resolutions, Russels, Turmoil

Market News

Amid insolvency turmoil, McLeod Russel’s Aditya Khaitan remains hopeful for bank resolutions and a brighter financial future.

Amid insolvency turmoil, McLeod Russel’s Aditya Khaitan remains hopeful for bank resolutions and a brighter financial future.

Aditya Khaitan, chairman of McLeod Russel India, expressed optimism about resolving the company’s debt issues during the annual general meeting. Despite facing multiple insolvency petitions from creditors like State Bank of India and HDFC Bank, he remains hopeful that the banks will cooperate to establish a resolution. Khaitan highlighted the potential for a better fiscal ...

Market News

Cognizant reveals plans for a major tech hub in GIFT City, promising 2,000 jobs and boosting India’s financial technology landscape.

Cognizant reveals plans for a major tech hub in GIFT City, promising 2,000 jobs and boosting India’s financial technology landscape.

Cognizant, a leading global technology firm, is set to open a new techfin centre in Gujarat International Finance Tec-City (GIFT City) in February 2025. This strategic hub will initially support 500 associates, with plans to increase its workforce to 2,000 within three years. The centre will focus on delivering advanced technology solutions for clients in ...

Market News

Telecom giants face government hurdles as they seek financial relief, while experts warn against the perils of real estate investment.

Telecom giants face government hurdles as they seek financial relief, while experts warn against the perils of real estate investment.

The telecom industry is currently in discussions with the Union government, hoping for relief on outstanding dues related to adjusted gross revenues (AGR), especially after the Supreme Court dismissed a recent petition. Experts suggest that telecom service providers should focus on developing their business strategies independently rather than relying on government support. Additionally, various columns ...

Market News

India’s wealthiest surpasses  trillion; household assets soar, driven by equity investments, revealing a shifting financial landscape.

India’s wealthiest surpasses $1 trillion; household assets soar, driven by equity investments, revealing a shifting financial landscape.

The wealth of India’s richest individuals has surpassed $1 trillion, reaching an impressive $1.19 trillion, as reported by Fortune India. Additionally, a report from Motilal Oswal reveals that household financial wealth has hit a record high of 115.9% of India’s GDP in the first quarter of FY25. Households have seen their gross financial assets rise ...

Market News

NBFCs see a dramatic drop in unsecured loans share as RBI tightens regulations, reshaping the financial landscape by December 2023.

NBFCs see a dramatic drop in unsecured loans share as RBI tightens regulations, reshaping the financial landscape by December 2023.

According to a recent report from the Reserve Bank of India’s September bulletin, non-banking financial companies (NBFCs) in the middle layer have the highest percentage of unsecured loans, holding 27.3% as of December 2023. This is closely followed by upper-layer NBFCs at 24.3%. Both categories saw a decrease in their respective shares from December 2022, ...

Market News

Syrma SGS Technology’s share price surged 7.3% after receiving a strong ‘IND A1+’ rating, signaling robust financial health and growth potential.

Syrma SGS Technology’s share price surged 7.3% after receiving a strong ‘IND A1+’ rating, signaling robust financial health and growth potential.

Syrma SGS Technology’s share price saw a significant increase, rising 3.77% to Rs 456.85 on the BSE. Earlier in the day, it even hit an intraday high of Rs 472.5 after receiving an ‘IND A1+’ rating from India Ratings and Research for its Rs 110 crore Commercial Paper Program. This rating signifies strong safety for ...

Market News

SpiceJet secures Rs 3,736 crore funding to regain market share and restore its reputation amidst ongoing financial struggles.

SpiceJet secures Rs 3,736 crore funding to regain market share and restore its reputation amidst ongoing financial struggles.

SpiceJet, the low-cost airline, has successfully raised Rs 3,000 crore through a Qualified Institutional Placement (QIP) from global investors to improve its efficiency and reliability. The airline also plans to receive an additional Rs 736 crore from past funding to bolster its financial stability and support growth initiatives. With this investment, SpiceJet aims to strengthen ...

Market News

Facing dire financial struggles, SpiceJet aims for a fleet revival to 100 aircraft by 2026, battling legal and operational challenges.

Facing dire financial struggles, SpiceJet aims for a fleet revival to 100 aircraft by 2026, battling legal and operational challenges.

SpiceJet, the domestic airline based in Gurugram, aims to expand its fleet to 100 aircraft by 2026, following a successful fundraising of Rs 3,000 crore through a qualified institutional placement. Chairman Ajay Singh noted that past challenges, including the grounding of Boeing 737 Max planes and the Covid-19 pandemic, have impacted the airline’s performance. Although ...

Market News

Inox Wind secures Rs 2,200 crore financing from an ICICI Bank-led consortium, marking a pivotal milestone in its financial independence.

Inox Wind secures Rs 2,200 crore financing from an ICICI Bank-led consortium, marking a pivotal milestone in its financial independence.

Inox Wind has successfully secured a financial agreement with a consortium of banks led by ICICI Bank, covering a credit facility of Rs 2,200 crore. This agreement may increase to Rs 2,400 crore based on an assessment of working capital by ICICI Bank. The financing, primarily non-fund based through bank guarantees and letters of credit, ...

Market News

Himachal Pradesh extends educational loans for overseas studies, empowering economically weaker students to pursue their dreams without financial barriers.

Himachal Pradesh extends educational loans for overseas studies, empowering economically weaker students to pursue their dreams without financial barriers.

Himachal Pradesh Chief Minister Sukhwinder Singh Sukhu announced an expansion of the Dr YS Parmar Vidyarthi Rin Yojna to include overseas education for students. The state cabinet approved this initiative, allowing eligible students to receive educational loans up to Rs 20 lakh at a low interest rate of one percent for studying abroad. This move ...

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