Mumbai: Shares of gold loan companies lost sheen on Tuesday after the Reserve Bank of India (RBI) called for these companies to take corrective measures for the lapses in loan sanctioning practices in the next three months. Muthoot Finance fell 3.9% and Manappuram Finance declined 1.9% as analysts see the central bank’s action weighing on … Read more
The Reserve Bank of India (RBI) has lifted the curbs imposed on the gold loan business of IIFL Finance with immediate effect, the company told stock exchanges on Thursday. The RBI had prohibited the company from sanctioning, disbursing, or selling any of its gold loans in March this year citing certain supervisory concerns. The central … Read more
Domestic markets ended almost unchanged in a volatile expiry session, continuing the recent trend. In today’s trade, shares of Reliance Infra, VST Industries, IDFC First Bank, NTPC, Vodafone Idea among others will be in focus due to various news developments. Reliance InfraThe Board of Reliance Infrastructure approved raising of Rs 3,014 crore by preferential issue … Read more
Mumbai: Kotak Mahindra Bank-sponsored asset reconstruction company Phoenix ARC has bought ₹1,800 crore of two real estate developer loans from IIFL in a structured deal, offering around 83% recovery to the Fairfax-backed non-bank lender, people aware of the development said. “Phoenix ARC has bought the debt from IIFL for ₹1,500 crore in an open auction,” … Read more
The Reserve Bank of India (RBI) Governor Friday directed banks and other players in the financial sector to prioritise governance and adhere to rules weeks after placing restrictions on two finance companies and a payment bank for violating regulations. “Let me emphasise here that banks, NBFCs and other financial entities must continue to give the … Read more
Hero MotoCorp. Share Price 4684.00 03:59 PM | 22 Mar 2024 164.11(3.64%) Maruti Suzuki India. Share Price 12337.70 03:59 PM | 22 Mar 2024 429.56(3.61%) UPL. Share Price 470.00 03:59 PM | 22 Mar 2024 14.45(3.18%) Apollo Hospitals Enterprise. Share Price 6375.90 03:58 PM | 22 Mar 2024 193.40(3.13%) Sun Pharmaceutical Industries. Share Price 1608.90 … Read more
AK Purwar, Chairman & Independent Director, IIFL Finance, says RBI pointed out certain gaps in our systems. Let me put it that the gold loan business which we are having, the practices, systems, processes is all as per present industry standards and present industry norms. RBI suggested certain changes which we have in a way … Read more
Brokerage firm Citigroup maintained a buy rating on UltraTech Cement but downgraded MGL to sell. Jefferies downgraded IIFL Finance to hold and JPMorgan maintained an overweight rating on RIL. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Citigroup on UltraTech Cement: Buy| Target Rs 11700 Citigroup maintained … Read more
Benchmark indices snapped their four day winning run on Tuesday amid weak global trends. The 30-share Sensex declined 195 points to settle at 73,677 and the broader Nifty declined 49 points to close at 22,356. Stocks that were in focus included names like IIFL Finance, which fell 20%, Bajaj Auto, which rose 1.74%, and Tata … Read more
Shares of FSN E-Commerce Ventures are expected to witness their next leg of performance riding on margin improvements which will be akin to Zomato, according to estimates by Nuvama. The domestic brokerage reiterated its buy rating on the Nykaa operator while marginally raising the price target to Rs 192 from Rs 189, as suggested earlier. … Read more
