Page 3 - Financial Year

PE inflows plunge 42% to $23.3 bn in 2022, lowest since 2019: Report

Private equity investments into domestic companies fell sharply year-on-year by 42 per cent to USD 23.3 billion in 2022, which is the lowest since 2019, when it was USD 15.8 billion, according to an industry report. The numbers reflect the overall funding winter that the startup space in particular, and the overall foreign investments in general have been witnessing since the Ukraine war began last February. Private equity investment inflows into the country fell by a sharp 42 per cent in 2022 from last year to USD 23.3 billion -- the lowest annual inflows since 2019 when it was a low USD 15.8 billion, but still relatively elevated compared to historical levels, said Elaine Tan, a senior analyst at Refinitiv, the LSEG business arm that provides financial markets data and insights. The report did not say how many deals were closed in the year. In the December quarter, the PE investments totalled USD 3.61 billion, down 8.1 per cent sequentially from USD 3.93 billion and fell 67.2 per

India's FY24 growth to dip to 5.5% from 6.8% in FY23, says HSBC economist

India's economy is expected to grow 5.5% in the next financial year, a notch below the expected potential rate of 6%, as growth momentum in the country was slowing gradually, an economist at HSBC said

Loans worth Rs 1,009,511 written off in last 5 financial years: Sitharaman

Scheduled commercial banks have written off loans amounting to Rs 10,09,511 crore in the last five financial years and the process of recovery of dues from the borrowers continues, Union Finance Minister Nirmala Sitharaman informed the Lok Sabha on Monday. Sitharaman said recovery in NPA (non performing asset) accounts, including written-off loans, was an on-going process. According to Reserve Bank of India (RBI) data, public sector banks have recovered Rs 4,80,111 crore, including Rs 1,03,045 crore from written-off loans, during the last five financial years, she said. "As per inputs received from the RBI, scheduled commercial banks have written off an amount of Rs 10,09,511 crore during the last five financial years," Sitharaman said during Question Hour. The borrowers of written-off loans continue to be liable for repayment and the process of recovery of dues from the borrower in written-off loan accounts continues, she added. Banks continue to pursue recovery actions initiated

Slippages from restructured NBFC book increased in H1FY23, says Icra

Write-offs remained elevated at 2.1 per cent for NBFCs and 0.5 per cent for HFCs in H1FY23

SBI board approves Rs 10,000-cr AT1 bonds offering to support biz growth

Bank intends to raise before Mar23 though approval is till 2024

DIPAM extends last date for submission of EoI for IDBI stake sale

Consortium of foreign funds, investment companies will be allowed to own over 51% of IDBI Bank

All-India electricity demand may grow 7% to 1,480 bn units in FY23: Icra

The all-India electricity demand is expected to grow 7 per cent to 1,480 billion units (BU) in the ongoing financial year, according to Icra. In the preceding 2021-22 fiscal, the all-India power demand was at 1,380 BU, the ratings agency said on Monday. "All-India electricity demand to remain healthy at over 7 per cent in FY23 despite growth slowdown post Q1 of this fiscal, and grow at 5-5.5 per cent in FY24," Icra said in a report. The estimates are based on the fact that all-India electricity demand increased 10.6 per cent year-on-year in first eight months of FY2023, amid a severe heat wave in north and central India, it said. Girishkumar Kadam, Senior Vice President & Co-Group Head - Corporate ratings, Icra, said, growing energy demand along with subdued capacity addition in the thermal segment is leading to an improvement in average thermal PLF (plant load factor) level for gencos/IPPs (power generation companies/independent power producers) at all-India level.

Capex by CPSEs accelerates to 60% of annual target during Apr-Nov period

CPSEs are likely to achieve their target as they tend to rush up their spending in March quarter

More risk in our book helps us become more agile: MD, Bajaj Allianz Life

In a Q&A, Tarun Chugh dwells on how his firm became the fastest growing in its space, recent Irdai initiatives, and the company's future plans

'Our gross NPAs may fall below 8% this FY if there's NARCL resolution'

'After coming out of four years of losses, we want to grow qualitatively'

Consumer durable demand outlook likely to remain weak in Q3FY23

While input costs have eased, lower volumes could impact margins

Zetwerk set for over $1-billion revenue in FY23 on China Plus One

Zetwerk's acquisition of Unimacts will provide the company with immediate access to marquee solar and wind-power customers

Price hikes may not stall cement companies' profit dip: CareEdge

Operating profit margins likely to contract by 320-380 basis points to 16.3-16.8 per cent in FY23, says CareEdge Ratings, as input cost pressures remain

Near-term headwinds likely to keep staffing solution companies muted

But valuations have turned attractive after sharp corrections since January

Irdai draft norms do away with specific caps on commissions to agents

Proposes that commissions to agents can't exceed management expense limit

Vedanta Group notifies third interim dividend of Rs 17.50 per share

Vedanta Group approved the third interim dividend of Rs 17.50 per share or 1750 per cent for the financial year 2022-23, on Tuesday November 2022

Indian gaming to add 100,000 jobs in FY23, grow five-fold in 7 years: Study

Industry expected to attract Rs 780 crore in foreign investment, says TeamLease Digital report

RIL, Tata firms top LIC's equity portfolio as insurer's valuation rises

The value of investments in Adani firms more than double in the past year

NFRA aligning to global standards but industry awaits more clarity

Experts want the authority to set some limit on the time it would spend on on-site visits

Bank credit to grow 15% YoY in FY23, FY24 on corporate demand: CRISIL

Lenders may have to raise deposit rates at faster pace, says senior executive of agency