DEBT COLLECTIONS
Aditya Birla Sun Life Quant Fund NFO collects over Rs 2,400 crore
Aditya Birla Sun Life Quant Fund's NFO raised Rs 2,416 crore, attracting 1,23,762 investors. It's an open-ended equity scheme based on Quant themes. NFO ran from June 10-24, with allotment on June 28 and reopening for subscription on July 1.
Sebi issues guidelines for contribution to LPCC's core settlement guarantee fund
LPCC is an entity established to undertake the activity of clearing and settlement of repo transactions. A well-functioning repo market contributes to the development of the debt securities market by way of boosting liquidity.
Low unsold housing stock makes room to absorb slower pre-sales growth
The tier I residential real estate inventory in India's top eight cities remains manageable, with a quarter-to-sales ratio of 11, lower than the six-year high of 13. Pune and Bengaluru have favorable unsold stock levels, while Mumbai and Chennai face high inventory build-up. Despite strong pre-sales and housing launches in FY24, the absorption rate remains comfortable. Pre-sales for tier-1 players grew 71% on-year in March. Collections increased by 29%, although leverage remains high. The gross debt to collections ratio slightly rose to 2.4x in FY24.
The ‘buy now, pay later’ option is like a disease: Satish Mehta, Athena CredXpert
"A credit card is the most expensive piece of plastic in the world. You are charged 40% interest if you don’t pay on time. You would think it’s fine to pay 5% minimum due balance, but they still charge an interest on the outstanding amount. One should avoid treating credit cards like money in pocket," says Satish Mehta, Founder, Athena CredXpert.
Higher property prices, changes in law to boost debt recovery from stressed realty projects: Report
The recovery of debt from stressed residential realty projects is expected to increase in the current financial year due to rising property prices and regulatory changes. Crisil forecasts a bad loan recovery rate of 16-18% by FY25, driven by improved project viability, strong demand, and investor interest. Recent amendments to IBBI regulations are also seen boosting real estate asset resolution. With residential realty demand projected to grow by 10-12% and low unsold inventories, ARCs are expected to expedite the turnaround of stressed projects.
ARCs to see 5-7% higher recoveries from residential realty in FY25: CRISIL Ratings
Additionally, recent amendments to the Insolvency and Bankruptcy Board of India (IBBI) regulations are expected to expedite the resolution of stressed real estate assets in the medium term, enhancing the overall recovery process for ARCs.
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Investment returns during coalition govt: Modi 3.0 might be good for stock market, mutual fund investors, show trends during previous govts
How will be Modi 3.0 for investments? The stock market experienced a sharp decline following the Lok Sabha elections 2024, causing concern among young investors. They are worried about their investments as a coalition National Democratic Alliance (NDA) government prepares to take oath on June 9, 2024. Will the volatility in the stock market continue? How will NDA-3.0 be for your hard-earned money? Is there a bad government for your investments? Should the incoming government worry debt investors? Should you invest in equities, mutual funds or debt instruments? Questions such as these are worrying investors. So here are some answers that should give an idea of what is in store for you in the next five years.
Byju's processes employees' May salaries from business collections
BYJU'S processed employees' May salaries from business collections. Salaries paid from company's collections, highlighting financial health and debt-raising challenges. Company raised debts, implemented strategic initiatives. Investors, including Prosus, General Atlantic, Sofina, Peak XV, Tiger, Owl Ventures, approached NCLT Bengaluru.
Vodafone Idea must clear Indus Towers dues to avail tower company's new services: Sunil Mittal
Bharti Airtel chairman Sunil Mittal emphasized that Vodafone Idea must settle all past dues with Indus Towers to access new services like 5G. However, Mittal mentioned that the Indus board will remain flexible with its decisions even if Vi makes a significant payment and provides a schedule for the remaining amount. Airtel is a major stakeholder in Indus Towers.
Planning to invest Rs 3,000 crores to add 2,000 beds in 3 years: Suneeta Reddy, Apollo Hospitals
Let us look at both ARPOB, it is over 59,000, it is about Rs 59,0330. We have seen an increase in ARPOB of around 12%, but more importantly just going forward, this is because of a better case mix and price, but definitely improved case mix. With regard to volumes, inpatient volumes grew by 6%, outpatient volumes grew by 9%. And our ARPOB is net of doctors’ fees.
RBI's ₹2 lakh-crore boost may help India's new govt have an easy-peasy run to achieve a goal
The RBI on May 22 announced a record-high dividend transfer to the government equivalent to 0.6 per cent of GDP ( Rs 2.1 lakh) from its operations in FY24. The figure has surpassed the 0.3 per cent of GDP expected in the FY25 budget from February. Hence, the rating agency said that it will aid the authorities in meeting near-term deficit reduction goals.
Govt's cash balance surges, banks starve
The ongoing general elections have led to a surplus in government cash balances, impacting the banking sector due to reduced spending. The Centre's adoption of efficient fund management practices has resulted in over ₹3 lakh crore in cash balances, affecting borrowing costs and liquidity in the market.
RBI's record dividend presents a delicious dilemma for new Indian government
As India prepares for a new government by June 4, a significant Rs 2.11 lakh crore windfall awaits allocation. Options range from faster deficit reduction to increased spending. Analysts anticipate positive investor sentiment, though preferences vary between deficit reduction and expenditure. The BJP-led government's cautious approach contrasts with opposition promises
GameStop tumbles 24% on capital raise plans after meme stocks frenzy this week
Retail darling GameStop slumped 24% on Friday, after the struggling videogame retailer said it would sell up to 45 million shares, taking advantage of the meme stocks frenzy that took hold this week.
Signature Global to launch projects worth Rs 16,000 crore in FY25: Chairman Pradeep Kumar Aggarwal
Realty developer Signature Global aims for Rs 10,000 crore pre-sales in FY25 and to be debt-free by 2026. The company reported 112% growth in pre-sales to Rs 7,720 crore for FY24, exceeding guidance. With launches worth Rs 16,000 crore planned for the fiscal, they are actively seeking acquisitions and expanding their portfolio.
Avigna to raise Rs 1,000 crore for expansion plans, debt reduction
Bengaluru's Avigna plans to raise Rs 1,000 crore through an AIF for expansion and debt repayment. The AIF, including a greenshoe option, will focus on stabilized assets. Avigna aims to develop 10 million sq ft of warehousing assets in southern India, targeting robust industry growth amidst economic recovery post-Covid-19.
IMF urges Pakistan to bring reforms to energy sector
IMF presses Pakistan for energy reforms, debt targets, and subsidy cessation. Ongoing talks with IMF for a new loan program and budget plans to address financial challenges and stabilize the energy sector.
India's FY24 fiscal gap may be slightly better than revised estimates: Official
The central government's fiscal deficit for FY24 is expected to be slightly better than revised estimates, thanks to higher-than-anticipated revenue receipts. Despite slower nominal growth, deficit-to-GDP ratio is estimated to improve. Direct tax revenue exceeded expectations, and expenditure remains on track. The government is prepared to manage potential capital inflows from JPMorgan's inclusion of Indian government bonds in its index.
Ajmera Realty Q4 Results: Net profit jumps 44% YoY to Rs 103 crore; sales value sees two-fold jump
Real estate developer Ajmera Realty & Infrastructure has reported 44% on-year increase in net profit for the financial year 2023-24 at Rs 103 crore on the back of robust growth in bookings.
Paytm shares plummet 5%, hit all-time low as lending partners invoke loan guarantees
Paytm Share Price: Paytm shares plummeted to an all-time low after Aditya Birla Finance invoked loan guarantees due to repayment defaults. Other partners like Piramal Finance and Clix Capital have also terminated their partnerships, reflecting stress in Paytm's lending business amidst regulatory actions and market conditions.
Aditya Birla Finance, others may have invoked Paytm’s loan guarantees
Aditya Birla Finance invoked loan guarantees from Paytm due to defaults. Partnership stress with other lenders. Paytm's lending business faces challenges post central bank's ban. Changes in top management. Reduced consumer loan portfolio to less than 1%.
In FY25, Godrej Properties hopes to build on strong operating momentum of last year: Pirojsha Godrej
Godrej Properties anticipates strong growth in FY25, leveraging active business development in key markets. The real estate company is also going to focus on timely customer cash collections and maintaining debt levels between 0.5 to 1 band for sustained growth. Godrej says: "we are kind of mid-cycle now so that we will have another good year of real estate demand ahead."
Indus Towers facing a Rs 60 cr shortfall in collections from Vodafone Idea in Q4
Indus Towers received an additional Rs 360 crore from Vodafone Idea (Vi) for old dues, but analysts note a Rs 60 crore shortfall in collections. Despite this, Indus' trade receivables increased by Rs 430 crore sequentially in Q4FY24, reflecting the delayed collection of Vi's past outstandings, ultimately settled in April.
Fight climate change with fiscal discipline
The transition to clean energy requires enormous public investment in electricity generation and distribution, in addition to the far larger expense of mitigating the damage caused by rising temperatures.
How Account Aggregator can help digital lenders improve collections
Digital processes like loan monitoring, customer segmentation, and communication are being developed and improved to enhance the debt recovery efforts of digital lenders.
CMS Info Systems to enter gold logistics, loan collection services
CMS Info Systems plans to expand into gold logistics and retail loan repayments collection, having already piloted these ventures. With over Rs 2,000 crore revenue in fiscal 2023, CMS aims for incremental growth. The company sees potential in India's formalizing bullion sector and the evolving lending ecosystem. It has collaborated with major clients and institutions for its pilot programs. Confident in delivering revenue targets, CMS anticipates upper-half performance in its revenue target range of Rs 2,500-2,700 crore for fiscal 2025.
Sluggish progress on climate finance at World Bank, IMF meetings
Annual World Bank and IMF meetings lacked a clear climate finance plan. Focus on NCQG at COP29. Calls for increased finance for vulnerable nations. Bank seeks additional financing through IDA. IMF chief highlights debt challenges.
IMF criticises Pak Finance Ministry declaration that all targets have been achieved
IMF expresses displeasure over Pakistan's premature claims of meeting benchmarks. IMF team in Islamabad for review, discussing mini budget, tax collection, circular debt, and energy sector issues. Finance ministry's early announcement causes uncertainty in the process.
Lock in to long duration debt funds to profit from rate cuts
"We expect the RBI to cut rates by 75 basis points from the latter part of the year 2024. Effectively, while the RBI rate cut could be 75 basis points, the 10-year yields could potentially fall by 100 basis points, from the current level of 7.2% to 6.2%," ICICI Securities analyst Sachin Jain said.
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