JSW to bid in partnership with a global PE player for Binani Cement today
JSW Cement will make a bid on Monday in partnership with a global private equity (PE) player for debt-laden Binani Cement. The bid deadline for Binani is Monday.
JSW Cement managing director Parth Jindal said the PE entity would have a majority in the proposed entity. He declined to divulge the name. He also said the bidding for Binani was expected to be aggressive, as at least 11 companies were likely to put bids. Lenders had extended the bid deadline in the wake of interest from suitors.
How new Sebi rule will impact balanced mutual funds; see what is finally coming through
Taxation in mutual funds plays a vital role. Both equity and debt funds are taxed differently. While there is no long-term capital gain tax on equity funds after one year, for short term too the segment is taxed by 15%. For debt mutual fund schemes there is 20% long-term capital gain tax and a maximum of 30% short term capital gain tax (resident individuals & HUF). Very strategically schemes are framed today to ensure that investors benefit from the taxation perspective.
FM Arun Jaitley does a first in India, launches agri options trading in NCDEX; move set to benefit farmers
In a first for the country, finance minister Arun Jaitley on Sunday launched options trading in a farm commodity on National Commodity & Derivatives Exchange (NCDEX) and affirmed the move will enable farmers to hedge their price risks better. NCDEX has introduced options in guar seed, one of its most important products in the futures segment. It is the second exchange to launch options trading after MCX but the first one to introduce an agri options product.
IDFC Bank, Capital First merger: will the shoe fit this time?
What is trickier than buying a shoe? Perhaps it’s buying what could be termed an aspirational shoe, fully knowing that the wearer will struggle to achieve a balanced gait. IDFC Bank Ltd’s inorganic attempts at growth have been very similar to the pitfalls such a shoe-shopper seeking upward mobility faces. Its latest deal is a merger with non-banking finance company (NBFC) Capital First.
NBFCs may see 35% earnings growth
Non-Banking Finance companies are expected to report as much as 35 per cent growth in earnings as retail loans by small and medium enterprises continued at a brisk pace even as state-run lenders continued to hold on to their purse strings due to bad loans. Housing finance companies will maintain momentum with the growth coming from the affordable segment. Good monsoon, lower income reversal and lower credit cost due to stable asset quality will help vehicle financing report strong traction particularly tractor and commercial vehicle financing.
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