[ad_1] Stocks to Watch on Thursday, March 14: Indian equity markets may look to stabilise on Thursday after a massive carnage a day before, that eroded Rs 13.5-trillion in investor wealth. However, weekly F&O expiry, and global cues may keep them volatile. At 7:30 AM, Gift Nifty was down 57 points at … Read more
[ad_1] IIFL Finance | Photo: Facebook IIFL Finance, which is facing curbs on its gold loan business, is planning to raise up to Rs 1,500 crore of equity capital through a rights offer in the first quarter of the next financial year to shore up its capital adequacy. The Mumbai-based finance company is … Read more
[ad_1] IIFL Finance said on Wednesday it would raise funds up to Rs 2,000 crore ($241.5 million) as the non-bank lender looks to shore up capital after India’s central bank barred it from offering gold loans. The company will raise the funds through the issue of shares on rights basis and non-convertible debentures … Read more
[ad_1] Premium A K Purwar, chairman and independent director, IIFL Finance IIFL Finance, which is facing regulatory restrictions on extending gold loans, could see a 25-30 per cent impact on business in the coming quarters, A K Purwar, chairman and independent director, said in an email interview to Manojit Saha. Edited excerpts: The … Read more
[ad_1] Two developments in the recent past have put gold loans in the spotlight. Kotak Mahindra Bank forayed into this rapidly growing segment (17.4 per cent growth year-on-year, according to the Reserve Bank of India’s [RBI’s] data of January 26). Meanwhile, the regulator debarred IIFL Finance from disbursing fresh gold loans due to “material … Read more