Chirag Madia

Articles By Chirag Madia

168 Articles

Enhanced surcharge on capital gains from share sales rolled back

The measures announced by Sitharaman are positive for high net worth individuals (HNIs), super HNIs and FPIs, and experts believe this may help them return to the market.

consumer firms Earning, corporation tax rate, corporation tax cut, corporate tax, corporate tax rate, corporate tax in india, corporate tax rate india, Narendra Modi, nirmala sitharaman, financial express, financial express opinion, corporate tax rate 2019 News

Essel Group seeks time till March 2020 from mutual funds to clear dues

In January this year, the Zee Entertainment Enterprises and Dish TV stocks fell sharply in the range of 26-33%, primarily on reports of pledged shares of promoters being invoked and sold.

Essel Group, mutual fund, clear due, industry news, zee media,  Zee Entertainment Enterprises, ZEEL, mutual fund, MF News

Recovering dues: Most MFs may not sign ICA but still back resolution plan for DHFL

Most Mutual Funds that have an exposure to Dewan Housing Finance (DHFL) are unlikely to sign the inter-creditor agreement (ICA) but will nonetheless lend their support to a resolution plan.

Industry News

Lacking lustre: Gold prices soar but ETFs not so popular

On Monday, the price of gold hit a new high at Rs 38,578. Surprisingly, gold ETFs have seen outflows every year since 2013-14, Amfi data show. 

Markets News

Gold ETFs losing sheen despite spike in prices

Market participants also believe that gold ETFs score over other gold products at they are cost effective and liquid.

Markets News

Credit risk funds may find favour as worst seems over

The category of credit risks funds has delivered returns of just 0.36% in the last one year.

Markets News

Sundaram withdraws DHFL side-pocket

Taking the fact into consideration, the company decided to treat it as an event of default for its schemes and also decided to write off the principal and interest aggregating to Rs 52.21 crore on August 16, 2019.

Sundaram, DHFL, industry news, Sundaram equity fund, Sundarammutual fund, Sundaram finance, DHFL share,DHFL  news, DHFL  NSE News

Invest in short duration debt funds: RBI

While other category such as short-duration and medium-duration funds have given returns of 5.49% and 5.21% in the last one year.

Fund raising, rate cut, rbi rate cut, rbi credit flow, NBFCs, NCD market, stock market, share market, bses, sensex, RBI monetary policy, Rate cut, policy repo rate, Global growth, BCBS, inflation, global economic indicators, India banking sector News

NBFCs bank on HNIs to raise more funds

High net worth individuals (HNIs) and ultra HNIs could have to come to the rescue of non-banking financial companies (NBFCs), which are facing a severe liquidity crunch.

Banking & Finance News

DHFL exposure: MFs refuse to take out of turn haircut

In this case, lenders do not wish to give a haircut to the Employees’ Provident Fund Organisation, PF Trust and retail investors.

DHFL exposure, DHFL resolution plan, equity shareholders, Tier II bond holders, EPFO, retail investors, SBI Caps News

Lenders earning more commission by selling in house MF schemes

Not being affiliated with any bank makes us and other fund houses an unbiased business and we are comfortable with that.”

Money News

FPIs unlikely to shift from trusts to corporate structure

However, there are several factors that would deter FPIs from taking this route.

The buzz is that the finance ministry may give FPIs some relief. News

Budget 2019: FM Sitharaman proposes higher taxes for super rich, govt to get Rs 12,000 crore in FY20 with surcharge

Budget 2019 India: The government is estimating that the higher super rich surcharge would accrue about `12,000 crore a year on income assessed in FY20, which is largely in line with FE’s analysis.

Budget 2019, Union Budget 2019 India, Budget 2019 India, Budget 2019-20, News

Budget 2019: Gold to cost more as govt proposes hike in customs duty

Union Budget 2019: Differential between Indian, international gold prices to widen by 2.5%-15.5%

Budget 2019, Union Budget 2019 India, Budget 2019 India, Budget 2019-20, News

Mutual Funds’ Rs 140 crore investments in DHFL to mature today

Lenders to DHFL are expected to meet in the first week of July to chart out recovery plans .

money market fund, idbi, value research data News

UTI Mutual Fund marks down its debt exposure to DHFL to 100%

DHFL had failed to repay interest and principal of approximately Rs 1,100 crore due on June 4, 2019.

UTI Mutual Fund, DHFL, CRISIL, ICRA, NCD, DHFL Pramerica, UTI Ultra Short Term Fund News

Unpaid obligations: NAV of debt mutual funds falls due to interest delays by DHFL

Mutual funds have invested around Rs 4,423 crore across 135 debt schemes in instruments issued by DHFL

DHFL, debt mutual funds, NAV, Tata MF, BNP Paribas MF, Reserve Bank of India, Aditya Birla Sun Life, Reliance Low Duration Fund News

RBI may provide some liquidity support to NBFCs by relaxing some LCR norms: A Balasubramanian

Fixed income market has got its full energy back on account of few things, one is oil price coming off globally and even the outlook for oil price is weak.

RBI, NBFC, Aditya Birla Sun Life AMC, LCR norms, A Balasubramanian, FPI flows, VRR schemes, NBFC market, debt market News

Sebi initiates adjudication proceedings against HDFC AMC

Kotak Mutual Fund had conveyed to its investors that the fund may not be able to pay the entire redemption amount for the Kotak FMP Series 127, which matured on April 8.

Securities and Exchange Board of India, Sebi, auditor, guidelines, resignation, proposals, pre-occupation News

DHFL Prameria mutual fund merges 2 schemes with other debt funds

Last year, Sebi in its board meeting had allowed mutual funds to create segregated portfolios or ‘side-pocket’ facility based on credit events with respect to debt and money market instruments subject to various safeguard

Industry News

Equity fund inflows hit 31-month low in April, debt funds see outflows

Inflows into equity mutual funds in April stood at Rs 4,608.74 crore, the lowest in the last 31 months, shows data from Association of Mutual Funds in India (Amfi).

Markets News

Reliance, TCS, HDFC Bank stand tall as broader index loses Rs 2 lakh cr in market cap

The losses would be even higher, if one were to exclude three big firms – Reliance Industries, Tata Consultancy Services and HDFC Bank – from the sample.

stock market investment strategy during election uncertainty News

With rise in borrowing costs, margins grew by 90bps: Ajay Srinivasan, CEO of Aditya Birla Capital | Interview

The biggest opportunity for a non-banking financial company (NBFC) currently is in the small and medium enterprise (SME) sector as the typical banking structure has always under served SMEs, says Ajay Srinivasan, CEO, Aditya

Banking & Finance News

Debt schemes: Mutual Funds exposure to DHFL group firms at Rs 6,500 crore

UTI Mutual Fund has investments of around Rs 1,540 crore in various group companies of DHFL across 36 debt schemes, while Reliance Mutual fund has an exposure of Rs 1,436 crore, data available till March 31, 2019, from Value

mf, mutual fund News

Delay in repayment by 2 Essel firms: HDFC AMC gets nod to roll over FMPs

Industry players estimate that debt mutual funds have an exposure of Rs 6,000-7,000 crore to debt instruments of Essel Group companies. The debt papers of Essel Group are secured by shares of Zee Entertainment and Dish TV.

Delay in repayment by 2 Essel firms: HDFC AMC gets nod to roll over FMPs News

Essel exposure: Kotak FMP investors may lose a portion of their money at maturity

Investors in Kotak FMP Series 127, a fixed maturity plan (FMPs), which have invested in debt instruments of Essel Group companies, may not receive the full amount on maturity of the scheme.

Essel exposure: Kotak FMP investors may lose a portion of their money at maturity

Digital insurance leads to cheaper products, better service: Acko General CEO INTERVIEW

There are two key advantages for policyholders coming to Acko., he says.

Varun Dua, digital insurance News