Stressed infra doing distress sales

After holding on to their stressed assets for years, infrastructure companies have finally started selling out. It was the Rs. 3,800 cr JP – UltraTech deal last week, and more recently GMR Infrastructure announced that it has sold its majority … Continue reading

Cabinet okays bailout for power distributors

The cost of power is all set to rise as the Cabinet approves a restructuring package for state electricity boards across the country. One of the major riders for availing the restructuring package is that state electricity boards will have … Continue reading

Bharti Shipyard Board approves Debt Restructuring Plan

The Bharati Shipyard Ltd stock rose by 6% on Tuesday to Rs. 72.5 a share, on a day the market indices fell marginally. The shipbuilding company had on Monday, after market hours, announced that its board had approved a corporate debt restructuring … Continue reading

New League of Investors Emerging for Indian Distressed Real Estate Market

Builders, bankers and homebuyers are a worried lot today. With home sales at abysmal lows, real estate companies are finding it difficult to deliver their projects or repay their growing debt on time, and the spectre of non-performing assets is … Continue reading

Furnish details on accounting practices, RBI tells asset reconstruction companies

Worried about the accounting practices followed by asset reconstruction companies (ARCs), the Reserve Bank of India (RBI) has asked them to furnish complete details on accounting policies, in a bid to take a closer look at the systems. The move … Continue reading

Hit By NPAs, PSBs thrust upon Gold backed Farm Loans

The country’s largest lender, SBI, is aggressively marketing its gold loan scheme for farmers to prevent defaults after the agriculture sector witnessed a sharp spike in bad debt in the past one year. Non-performing assets (NPA) in SBI’s farm loan … Continue reading

Domestic Credit Growth Picks up in phase of Slowdown – Increased Hedging Cost may be the reason

After seeing a slowdown in the previous fortnight, commercial loans have again picked up in the latest fortnight ended December 2, 2011. Term deposits raised by banks, too, continue to post a strong growth. According latest RBI data, loans rose … Continue reading