Page 6 - Private Sector

After meeting Q2 expectations, HDFC's growth outlook appears healthy

Analysts positive on stock, expect it to trade in the Rs 2,750-Rs 3,000 range

Govt notifies enhanced financial support for Central, state PPP projects

Funding under IIPDF Scheme is in addition to Viability Gap Funding Scheme notified in December 2020

Landlines in the time of 5G: Private sector getting serious about business

The latest data from the Telecom Regulatory Authority of India (Trai) showed Reliance Jio at 28.31% market share in wireline subscribers, ahead of BSNL at 27.46% and Bharti Airtel at 23.86%

Kotak Mahindra Bank may get added to FTSE index in March semi-annual recast

Sustained selling by FPIs increases investment legroom to 22% at the end of September 2022 quarter

Back to the 1950s: State to lead investment and higher taxes to fund it

The reason for higher taxation is the inability of the private sector to invest on the scale required to satisfy the minimum thresholds of political and social needs. We are back to the 1950s

Private solution: Rise in storage helps securing food from damage, loss

A Business Standard analysis found ramping up capacity and engaging the private sector helped FCI's share in total storage to rise to over 50 per cent.

HDFC Life's net profit rises 19% to Rs 326.24 crore in Sept quarter

Value of new business (VNB) of the insurer was up 10.3 per cent YoY to Rs 748 crore in Q2FY23 compared to Rs 678 crore in the year-ago period

Max Life to pay Rs 3 cr penalty imposed by Irdai to avoid legal escalations

The regulator indicated that the deal between Max Life and Axis Bank circumvented regulations on commission limits

LIC, Centre to sell 60.7% stake in IDBI Bank; DIPAM invites EoIs

DIPAM invites EoIs; last date to submit bids is Dec 16

Steady trend: PSUs hit 34% of capex target in April-August, shows data

The centre through government departments and PSUs has been lifting the economy through capital spending as investments from private sector lag.

TMB stock ends flat as RBI rejection of proposed chairman has little impact

RBI advised private sector lender to submit a fresh proposal of another Independent Director for the post of Chairman

Regulators must apply same rules for public and private cos: Deepak Parekh

Finance industry veteran Deepak Parekh on Wednesday said regulators are lenient on state-run companies, and there is a need to have a parity between public and private enterprises. He said the leniency is seen in various mandates like adhering to having required number of independent directors or women directors on board, and added that there is a "little less accountability" in the public sector. "Regulators are a bit lenient on public sector companies," Parekh said, speaking at the launch of the book "The Undercover Monk" here. Parekh, who is the chairman of mortgage major HDFC which is presently seeking regulatory nods for merging with subsidiary HDFC Bank, added, "same rules should apply on governance and disclosure norms". Parekh said sometimes, government nominee director's unavailability leads to cancellation of a meeting and recounted an experience while serving a state-run company's board. Parekh said after reaching New Delhi, he was informed that the meeting was postpone

Abrdn to offload 2% in HDFC Life in block trades, put 43 mn shares on block

Price range set at Rs 564.1-578.55 per share; sale could fetch UK-based financial major at least Rs 2,425.6 cr

Axis Bank ties up with PayNearby, aims to boost priority sector lending

Private lender's portfolio of rural loans was at Rs 58,800 cr at the end of the first quarter this financial year

Private good, public loss: PSEs have been losing mkt share to private peers

A Business Standard analysis of data in the CAG report shows the market share of the four insurers is eroding

Private sector should invest in technology, boost R&D to help economy: CEA

Chief Economic Advisor V Anantha Nageswaran on Monday said the private sector needs to invest more in technology and research and development, and pay the MSME suppliers on time to help the economy. Stating that Indian economy cannot remain exempt from the global challenges but it remains resilient and is poised for a rebound as the banking system is better, inflationary issues are peaking out and ongoing recovery is healthy, the CEA said. It is to our credit so far that we have managed to keep the impact at more manageable levels so far. But it should require continuous vigilance, continuous action and discipline for policymakers, he said while speaking at a virtual meeting with the Calcutta Chamber of Commerce. Citing examples of several economies facing very high inflation, Nageswaran said India is in a relatively better position and the majority of its sectors are doing quite well despite market volatility and inflation. Nageswaran emphasised the need to focus on R&D and ...

Centre appoints NLMC interim head; to initiate surplus land monetisation

The interim CEO's job is learnt to have gone to Sanjay Kumar Jain, and the government has appointed its nominees to the board of the corporation

India should be broadly aligned with the West: Financial Times' Martin Wolf

In a Q&A, Martin Wolf, chief economics commentator at Financial Times warns that big problems are emerging due to relatively weak investment in the private sector

Axis Bank reappoints Rajiv Anand as Dy Managing Director for three years

Anand joined Axis AMC in 2009 and was its founding MD and CEO. He subsequently went on to become the President (Retail Banking) of Axis Bank in 2013 and then joined the bank's board in 2016

Govt, private sector should work together to cut down logistics cost: Goyal

Union Minister Piyush Goyal on Thursday urged the Commerce industry to work with the government to bring down the logistics cost from 12-14% to 7-8 % as prevailing in the developed countries