Mistry said it is important for the country to maintain growth in the economy as it will lead to job creation, improvement in income levels and increase in consumption.
MUMBAI: With benchmark equity indices rising for the third successive week, the longest such streak since January, signs are emerging that investor concerns over the second Covid-19 wave are steadily receding, said analysts.
The sentiment is borne out by the fact that India VIX, also known as the fear gauge, nosedived 10 per cent during the week and nearly reversed the 11 per cent surge seen in April.
The buying momentum seen this week in shares of metals, corporate loan-focused banks, state-owned banks and the outperformance of smallcap stocks further indicated that risk appetite of investors remained strong.
The tentative optimism in the market is being buttressed by mathematical models that suggest that the peak of the current wave, which has devastated the country, may come by the end of this month. Global rating agency S&P Global Ratings, earlier this week, said that if cases do peak in May then the impact on the economy will be fairly limited.
HDFC, India s largest mortgage financier, may remain NBFC
In November, a Reserve Bank of India panel recommended that large shadow lenders may be considered for conversion into banks after 10 years of operations, as authorities continue to nurse the sector that’s going through a prolonged cash crunch.
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. Updated: 04 Feb 2021, 02:19 PM IST Bloomberg
HDFC Ltd Vice Chairman and CEO Keki Mistry said he was confident that bounce back in demand for home loans would continue, following the strong revival seen in the last four months
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India’s largest mortgage financier may remain a shadow lender, despite a central bank proposal for large non-banking finance firms to become full-fledged banks.
SBI Q3 result: Net profit slips 7% YoY to Rs 5,169 cr on higher provisions India’s biggest public sector bank (PSB) State Bank of India (SBI) on Thursday reported a 6.9 per cent year-on-year (YoY) drop in standalone net profit at Rs 5,196.22 crore for quarter ending December, 2020 (Q3FY21). The fall was largely driven by marginal increase in provisions against bad loans. In the year-ago period, the lender had clocked a net profit of Rs 5,583.4 crore. On a quarterly basis, the PAT grew 13.6 per cent from Rs 4,574.2 crore reported in the September quarter of FY21 (Q2FY21).
Option to remain a large NBFC very much on the table : HDFC group CEO
India’s largest mortgage financier may remain a shadow lender, despite a central bank proposal for large non-banking finance firms to become full-fledged banks. “In terms of remaining a large non-banking finance company, that option is very very much on the table,” Housing Development Finance Corp. Vice Chairman and Chief Executive Officer Keki Mistry, said in an interview with Bloomberg TV on Thursday. “We will obviously have to look at the regulations and then take a call. We are very comfortable, we stand the way we are and we believe we would.” In November, a Reserve Bank of India panel recommended that large shadow lenders may be considered for conversion into banks after 10 years of operations, as authorities continue to nurse the sector that’s going through a prolonged cash crunch.