Companies and Markets

Companies & Markets

Title insurance covers on the cards

With the Central Real Estate Regulation and Development Act (RERA) mandating builders/developers to buy title insurance covers for their projects, a host of insurance companies are sensing a big business opportunity in this untouched segment. Several top non-life insurance companies including New India Assurance, ICICI Lombard general insurance, SBI General Insurance told FC that they would be filing title insurance covers with the insurance regulator soon.

Bond yields jump on fears of inflation spike, Fed rate hike

India's 10-year benchmark bond yield spurted to a 16-month high on Monday as investors anticipated retail inflation in November to overshoot the Reserve Bank of India’s medium-term target and the Federal Reserve is set to hike interest rate for the third time this year.

November marks 217% rise in PE investments, $2.7b exits

The private equity space was quite active in November, both in terms of investments and exits. The month recorded the highest monthly value of exits and 217 per cent increase in new investments with 10 deals valued over $100 million.

There were 25 exits worth $2.7 billion, the highest value of exits ever for any given month. The largest one was the open market exit of Qatar Foundation Endowment (QFE) selling 5 per cent stake in Bharti Airtel for $1.5 billion.

Jewellers fear GST rate may go up soon

It is a mixed feeling of relief and anxiety for jewellers these days. On one hand, they have received positive response to their demand for a cut in import duty in gold. On the other they fear the government may increase GST rates for the gems and jewellery sector.

Parekh gets keys to $6b Infosys war-chest, may go asset shopping

With Salil Parekh at the helm of Infosys, which has been holding back its $6 billion war-chest, mostly because its management and board hesitated from making any bold decisions in the past, the Indian tech bellwether may now go for shopping some automation, AI and service capabilities.

RBI net buys USD 852 mn of US currency in October

The Reserve Bank continued to remain a net purchaser of dollar in October after it bought USD 852 million in October from the spot market.

Though the pace of dollar accretion slowed in October as compared to the last month.

In the reporting month, the Reserve Bank bought USD 1.910 billion, while it sold USD 1.058 billion of the US currency in the spot market, according to the latest RBI data.

Realty turns star performer in 2017

After several years of underperformance, realty sector stocks have given the highest return this year on an improvement in the outlook for the sector.

Among the sectoral indices on NSE and BSE, the realty indices have given the highest year-to-date return at 87.37 per cent and 84.27 per cent, respectively. This is far more than the 25.50 per cent return given by the Nifty-50 and 25.02 per cent by the Sensex in this calendar year.

Forex reserves jump by $1.2 bn to $401.94 bn

India's foreign exchange reserves increased by USD 1.2 billion to touch USD 401.942 billion in the week to December 1, according to the RBI data.

The surge in reserves was aided by an increase in foreign currency assets, a major component of the overall reserves.

The reserves once again crossed USD 400 billion mark in the previous week, after they rose by USD 1.208 billion to USD 400.741 billion.

The foreign currency reserves increased by USD 1.151 billion to USD 377.456 billion for the reporting week, the RBI said today.

GMR-Megawide short-listed for $250m Philippine airport finance bid

A GMR group company along with its partner, Manila-based Megawide, and four other firms were on Thursday shortlisted for submitting financial bid for the $250 million Clark International Airports new terminal building project in Philippines.

“Out of seven companies, five complied with the requirement of the government. This is according to the (technical bids) submission that were made last Tuesday,” an official of the Department of Transportation (DOTr) said in a live-streaming session.

Nilekani seeks to reclaim Infy’s glory with digital push

Infosys’ plan to turn disruption to its advantage by focusing on newer digital technologies will begin showing results in the coming financial year, according to billionaire co-founder and chairman Nandan Nilekani. Client offerings positioned around cutting edge technologies like artificial intelligence and the Internet of Things will help make Infosys much stronger, Nilekani said in his first interview since taking on the chairman’s role in August.